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6. STOCK OPTIONS AND WARRANTS (Tables)

3 Months Ended

Jul. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Assumptions

		July 31,
		2015				2014
Risk-free interest rate			2.0%				–
Expected volatility			145%				–
Expected lives (years)			2.2				–
Expected dividend yield			0.00%				–

Unvested employee stock option activity

				Options Outstanding				Weighted Average Grant Date Fair Value per Share
Nonvested, April 30, 2015					6,600,000			$	0.10
Granted					–				–
Vested					1,800,000				0.10
Forfeited					–				–
Nonvested, July 31, 2015					4,800,000			$	0.10

Range of outstanding stock options

		Exercise Prices
Range of Exercise Price		$	0.19			$	0.11			$	0.18
Number of Options			25,000,000				27,200,000				250,000
Weighted Average Remaining Contractual Life (years)			4.17				4.42				4.72
Weighted Average Stock Price		$	0.19			$	0.11			$	0.18
Number of Options Exercisable			25,000,000				27,200,000				250,000
Weighted Average Contractual Life (years)			5				5				5
Weighted Average Exercise Price		$	0.19			$	0.11			$	0.18

Warrant activity

				Warrants				Weighted Average Price				Weighted Average Fair Value
Outstanding, April 30, 2015					72,969,908			$	0.17			$	0.08
Issued					–				–				–
Exercised					–				–				–
Outstanding, July 31, 2015					72,969,908				0.17				0.08
Exercisable, July 31, 2015					72,969,908			$	0.17			$	0.08

Schedule of warrants outstanding by exercise range

Range of Exercise Prices		Number of Warrant Shares Exercisable at 07/31/2015				Weighted Average Remaining Contractual Life				Exercisable Weighted Average Exercise Price
$0.075, $0.11, $0.12, $0.18 and $0.25			72,969,908				2.61			$	0.17
Five Year Term - $0.08			1,056,000				2.20
Five Year Term - $0.12			18,347,508				2.50
Five Year Term - $0.18			19,811,200				2.42
Five Year Term - $0.25			18,755,200				2.43
Five Year Term - $0.11			10,000,000				4.65
Nine Month Term - $0.11			5,000,000				0.42
			72,969,908

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

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Tabular disclosure of the changes in other outstanding share-based compensation awards other than stock options or nonvested awards.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
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- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 28
-Article 5

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