Intangible Assets

3 Months Ended

Jul. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

The Company’s primary additional asset is Petro Spring, a wholly owned technology focused subsidiary of the Company. It was launched with an intentionally broad mandate to acquire and commercialize cutting edge technologies with the intent to capitalize on the significant technological experience of its leadership team and network of industry relationships within the energy sector.

The Company’s intangibles assets consisted of the following:

	Estimated useful life	July 31, 2015			April 30, 2015
Patent rights	15 years	$	2,223,686		$	2,223,686
Less: Accumulated amortization			(50,406	)		(20,293	)
Intangible assets, net		$	2,173,280		$	2,203,393

The Company recorded amortization expense of $30,113 and $0 for the three months ended July 31, 2015 and 2014, respectively.

The following table outlines estimated future annual amortization expense for the next five years and thereafter:

April 30,
2016 (remainder of year)	$	89,602
2017		119,469
2018		119,469
2019		119,469
2020		119,469
Thereafter		1,605,802
	$	2,173,280