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Interest in Real Estate Rights
3 Months Ended
Jul. 31, 2016
Notes to Financial Statements  
Interest in Real Estate Rights

As discussed in Note 5, MegaWest received an interest in real estate rights of 30 condominium units from Fortis pursuant to the Megawest Transaction.   For the quarter ended July 31, 2016, the Company recognized a net gain of $300,639 related to the sale of one condominium unit by Fortis.

  

The following table summarizes the activity for interest in real estate rights:

 

   

July 31,

 2016

 
Balance at April 30, 2016   $ 2,820,402  
Cost of sales - one condominium unit     (449,931 )
Balance at July 31, 2016   $ 2,370,471