NONCONTROLLING INTEREST

12 Months Ended

Apr. 30, 2014

NOTE 11 – NONCONTROLLING INTEREST

The Company presents the 40% non-controlling interests associated with the China Operations as a component of equity, with changes in the Company’s ownership interest while it retains its controlling interest will be accounted for as an equity transaction, and upon a loss of control, retained ownership interest will be re-measured at fair value, with any gain or loss recognized in earnings. Income and losses attributable to the non-controlling interests associated with the China Operations are presented separately in the Company’s financial statements.

Noncontrolling interest for the years ended April 30, 2014 and 2013 consists of the following:

	Years Ended
	April 30,
	2014		2013
Balance, beginning of year	$	849,138	$	1,117,322

Distributions to noncontrolling interest		-		(367,612)

Net income attributable to noncontrolling interest		11,287		95,406

Other comprehensive (loss) income attributable to noncontrolling interest		(14,220)		4,022

Balance, end of year	$	846,205	$	849,138

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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