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11. EARNINGS PER SHARE
 9 Months Ended
Jan. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

Basic earnings (loss) per share is computed by dividing earnings available to common stockholders by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares and potentially dilutive common shares outstanding during the period increased to include the number of additional shares of Common Stock that would be outstanding if the potentially dilutive securities had been issued. Potential common shares outstanding principally include stock options and warrants. During the three and nine months ended January 31, 2017 and 2016, the Company incurred losses. Accordingly, the effect of any common stock equivalent would be anti-dilutive during those periods and are not included in the calculation of diluted weighted average number of shares outstanding.

 

The table below sets forth the basic and diluted loss per share calculations:

 

   Nine Months Ended
January 31,		 
   2017   2016 
Net loss  $(3,288,663)  $(4,941,720)
Basic weighted average number of shares outstanding   832,203,911    746,637,216 
Diluted weighted average number of shares outstanding   832,203,911    746,637,216 
Basic and diluted loss per share  $(0.00)  $(0.01)

 

The table below sets forth these potentially dilutive securities:

 

   Nine Months Ended
January 31,		 
   2017   2016 
Excluded options   81,150,000    68,050,000 
Excluded warrants   66,983,939    84,969,908 
Total excluded options and warrants   148,133,939    153,019,908 

 

The table below sets forth the basic and diluted loss per share calculations:

 

   Three Months Ended
January 31,		 
   2017   2016 
Net loss  $(1,282,146)  $(1,791,097)
Basic weighted average number of shares outstanding   859,529,933    756,637,143 
Diluted weighted average number of shares outstanding   859,529,933    756,637,143 
Basic and diluted loss per share  $(0.00)  $(0.00)

 

The table below sets forth these potentially dilutive securities:

 

   Three Months Ended
January 31,		 
   2017   2016 
Excluded options   81,150,000    68,050,000 
Excluded warrants   66,983,939    84,969,908 
Total excluded options and warrants   148,133,939    153,019,908