Earnings (loss) per common share (EPS)

9 Months Ended

Jan. 31, 2015

Earnings (loss) per common share (EPS) [Text Block]

Note 8 Earnings (loss) per common share (“EPS”)

Computation of basic and diluted EPS:

		Three Months Ended						Nine Months Ended
		January 31,						January 31,
		2015			2014			2015			2014
Net loss	$	(525,083	)	$	(2,220,808	)	$	(3,027,240	)	$	(5,557,327	)
Weighted average common
shares outstanding – basic and
diluted		42,482,355			42,174,448			42,542,594			42,038,923
Basic and diluted EPS	$	(0.01	)	$	(0.05	)	$	(0.07	)	$	(0.13	)

As at January 31, 2015 and January 31, 2014, common share equivalents, consisting of common shares issuable, on exercise of options, warrants and DSUs of 5,759,630 and 4,834,230, respectively, were not included in the computation of diluted EPS because the effect was anti-dilutive.