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10. EARNINGS PER SHARE

6 Months Ended

Oct. 31, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 10 – 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 six months ended October 31, 2018 and 2017, 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 loss per share calculations:

		Six Months Ended October 31,
		2018				2017
Net loss		$	(2,251,937	)		$	(3,502,713	)
Basic weighted average number of shares outstanding			1,063,602,271				949,373,602
Diluted weighted average number of shares outstanding			1,063,602,271				949,373,602
Basic and diluted loss per share		$	(0.00	)		$	(0.00	)

The table below sets forth these potentially dilutive securities:

		Six Months Ended October 31,
		2018				2017
Excluded options			96,450,000				86,250,000
Excluded warrants			37,305,070				53,072,437
Total excluded options and warrants			133,755,070				139,322,437

		Three Months Ended October 31,
		2018				2017
Net loss		$	(1,036,574	)		$	(1,814,298	)
Basic weighted average number of shares outstanding			1,080,708,112				973,167,811
Diluted weighted average number of shares outstanding			1,080,708,112				973,167,811
Basic and diluted loss per share		$	(0.00	)		$	(0.00	)

The table below sets forth these potentially dilutive securities:

		Three Months Ended October 31,
		2018				2017
Excluded options			96,450,000				86,250,000
Excluded warrants			37,305,070				53,072,437
Total excluded options and warrants			133,755,070				139,322,437

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

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