Discontinued Operations

3 Months Ended

Jul. 31, 2012

Discontinued Operations [Text Block]

3.	Discontinued Operations
	(a)	PetsMobility
		On April 30, 2010, a company controlled by the former President of the Company acquired certain assets including Pets911.com from the Company's wholly owned subsidiary, PetsMobility, in consideration for the return and cancellation of 2,000,000 shares of the Company's common stock. As at April 30, 2010, the date of disposition, the assets disposed of had a carrying value of $nil. On October 29, 2010, the agreement was amended to include the Company’s interest in PetsMobility. As a result of the Company’s disposal of PetsMobility, all operations related to the former subsidiary have been classified as discontinued operations.
		The results of PetsMobility’s discontinued operations are summarized as follows:

					Accumulated
	For The	For The	For The	For The	from
	Three	Three	Nine	Nine	June 5,
	Months	Months	Months	Months	2006
	Ended	Ended	Ended	Ended	(Inception)
	July 31,	July 31,	July 31,	July 31,	To July 31,
	2012	2011	2012	2011	2012
	$	$	$	$	$
Revenue	–	–	–	–	6,744
Expenses
Advertising and marketing	–	–	–	–	44,748
Amortization of property and equipment	–	–	–	–	9,709
Consulting fees	–	–	–	–	262,523
Foreign exchange loss	–	–	–	–	27
General and administrative	–	–	–	–	45,505
Impairment of intangible assets	–	–	–	–	651,800
Management fees	–	–	–	–	51,000
Professional fees	–	–	–	–	28,802
Payroll	–	–	–	–	16,838
Research and development	–	–	–	–	79,354
Total Expenses	–	–	–	–	1,190,306
Operating Loss	–	–	–	–	(1,183,562	)
Other Income (Expenses)
Loss on settlement of debt	–	–	–	–	(1,120	)
Interest and other income	–	–	–	–	3,166
Net Loss from Discontinued Operations	–	–	–	–	(1,181,516	)

(b)	Sound Revolution and Charity Tunes Inc.
	On March 16, 2011, the Company disposed of its wholly owned subsidiaries, Sound Revolution Recordings Inc., and Charity Tunes Inc., for consideration of $15,000 and 6,300 shares of the acquirer’s common stock resulting in a gain on settlement of debt of $76,834. As a result of the Company’s disposal of Sound Revolution Recordings Inc., and Charity Tunes Inc., all assets, liabilities, and expenses related to the former subsidiaries have been classified as discontinued operations.
	The results of Sound Revolution Recordings Inc., and Charity Tunes Inc., discontinued operations are summarized as follows:

						Accumulated
	For The	For The	For The	For The		from
	Three	Three	Nine	Nine		June 5,
	Months	Months	Months	Months		2006
	Ended	Ended	Ended	Ended		(Inception)
	July 31,	July 31,	July 31,	July 31,		To July 31,
	2012	2011	2012	2011		2012
	$	$	$	$		$
Revenue	–	–	–	–		222,866
Cost of sales						97,230
Gross margin						125,636
Expenses	–	–	–	–
Advertising and marketing	–	–	–	–		9,298
Amortization of property and equipment	–	–	–	1,121		4,162
Consulting fees	–	–	–	5,534		15,218
Foreign exchange loss	–	–	–	1,430		6,025
General and administrative	–	–	–	–		12,960
Professional fees	–	–	–	–		35,783
Payroll	–	–	–	–		25,950
Total Expenses	–	–	–	8,085		109,396
Operating Income (Loss)	–	–	–	(8,085	)	16,240
Other Income (Expenses)
Gain on settlement of debt	–	–	–	–		4,442
Interest expense	–	–	–	–		(121,782	)
Net Loss from Discontinued Operations	–	–	–	(8,085	)	(101,100	)