Commitments

3 Months Ended

Jul. 31, 2015

Commitments [Text Block]

Note 7 Commitments

a)	On November 27, 2013, the Company entered into an extension of an existing lease agreement, which commenced on October 1, 2014 and expires on September 30, 2019. The monthly lease payment under the extension agreement is $21,455 plus $18,674 in operating costs.
b)	On November 4, 2013, the Company entered into an extension of a lease agreement, which commenced on January 1, 2014 and expires on April 30, 2019. The monthly lease payment under the extension agreement is $3,434 plus $3,199 in operating costs. This lease expense is a related party transaction as it was incurred with a company with a director in common with the Company.
c)	From March 2013 to April 2014, the Company entered into various lease agreements with commencement dates between April 2013 and May 2014 and that expire between May 2016 and May 2017. The combined monthly lease payments are $7,198 plus $495 in operating expenses.

Total payable over the term of the agreements for the years ended April 30 are as follows:

		Office Leases –		Office Leases –		Total Office
		Related Party		Unrelated Party		Leases
2016	$	59,689	$	416,090	$	475,779
2017		79,585		502,641		582,226
2018		79,585		480,018		559,603
2019		79,585		481,545		561,130
2020		-		200,644		200,644
	$	298,444	$	2,080,938	$	2,379,382