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1A. RESTATEMENT OF PREVIOUSLY REPORTED INFORMATION (Tables)

3 Months Ended

Jul. 31, 2015

Restatement of Prior Year Income [Abstract]

Restated financial information

		July 31, 2015
		As Previously Reported				Adjustment				As Restated
Selected Consolidated Balance Sheet Accounts
Prepaid expenses and other current assets		$	103,011			$	842,451			$	945,462
Total other assets		$	3,013,212			$	842,451			$	3,855,663
Total assets		$	8,142,686			$	842,451			$	8,985,137
Derivative liability		$	29,746			$	(29,746	)		$	–
Total current liabilities		$	1,186,186			$	(29,746	)		$	1,156,441
Total liabilities		$	1,186,186			$	(29,746	)		$	1,156,441
Additional paid in capital		$	86,981,418			$	914,270			$	87,895,688
Accumulated deficit		$	(80,100,800	)		$	(42,074	)		$	(80,142,874	)
Total stockholders' equity		$	6,956,500			$	872,196			$	7,828,696
Total liabilities and stockholders' equity		$	8,142,686				842,451			$	8,985,137

		Three Months Ended July 31, 2015
		As Previously Reported				Adjustment				As Restated
Condensed Consolidated Statement of Operations
Total revenue		$	–			$	–			$	–
Cost of revenue			–				–				–
Gross margin			–				–				–
Research and development costs			155,678				–				155,678
Compensation expense			447,570				–				447,570
Director fee			18,000				–				18,000
Legal and professional			125,075				–				125,075
General and administrative			261,417				506,571				767,988
Loss from operations			(1,007,740	)			(506,571	)			(1,514,311	)
Unrealized gain on change in derivative			462,303				(462,303	)			–
Other expenses			(95	)			–				(95	)
Interest expense, net			(632	)			–				(632	)
Total other income (expense), net			461,576				(462,303	)			(727	)
Net loss		$	(546,164	)		$	(968,874	)		$	(1,515,038	)
Basic and diluted loss per share		$	0.00			$	–			$	0.00

		Three Months Ended July 31, 2015
		As Previously Reported				Adjustment				As Restated
Condensed Consolidated Statement of Comprehensive Loss
Net loss		$	(546,164	)		$	(968,874	)		$	(1,515,038	)
Foreign currency translation adjustment			(1,621	)			–				(1,621	)
Comprehensive loss		$	(547,785	)		$	(968,874	)		$	(1,516,659	)

		Three Months Ended July 31, 2015
		As Previously Reported				Adjustment				As Restated
Consolidated Statement of Cash Flows
Operating activities
Net loss		$	(546,164	)		$	(968,874	)		$	(1,515,038	)
Stock issued for services			–				166,608				166,608
Stock issued for compensation			147,360				–				147,360
Stock based compensation - options			145,269				–				145,269
Stock based compensation - warrants			–				339,963				339,963
Gain on derivative liability			(462,303	)			462,303				–
Decrease in prepaid expenses and current assets			16,246				–				16,246
Decrease in accounts payable			(83,582	)			–				(83,582	)
Increase in accrued expenses			19,657				–				19,657
Decrease in license agreement obligation			(300,000	)			–				(300,000	)
Net cash used in operating activities			(1,063,517	)			–				(1,063,517	)
Investing activities
Net cash from investing activities			–				–				–
Financing activities
Proceeds from sale of common stock			1,273,822				–				1,273,822
Net cash provided by financing activities			1,273,822				–				1,273,822
Effect of currency rate exchange on cash			159				–				159
Net decrease in cash			210,464								210,464
Cash at beginning of year			2,699,737				–				2,699,737
Cash at end of year		$	2,910,201			$	–			$	2,910,201

X

- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22644-107794

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22658-107794

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22663-107794

+ Details

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