Warrants

3 Months Ended

Apr. 30, 2015

Warrants [Text Block]

NOTE 5 – Warrants

As of April 30, 2015, there were 59,238,750 whole share purchase warrants outstanding and exercisable. The warrants have a weighted average remaining life of 1.20 years and a weighted average exercise price of $0.020 per whole warrant for one common share. The warrants had an aggregate intrinsic value of $0 as of April 30, 2015.

Warrants issued in private placement outstanding at April 30, 2015 is as follows:

				Weighted
	Number of whole share			average exercise
	purchase warrants			price per share
Outstanding, January 31, 2015	59,566,708		$	0.024
Issued	5,882,353			0.005
Expired	(6,210,311	)		0.041
Exercised	-			-
Outstanding, April 30, 2015	59,238,750		$	0.020
Exercisable, April 30, 2015	59,238,750		$	0.020

During the three months ended April 30, 2015, the Company issued 5,882,353 warrants to an investor at an exercise price of $0.0048 with a three year term. The warrants were issued with common stock and there is no additional accounting for these investor warrants that were issued.