Note 4 - Disposal of Subsidiaries and Discontinued Operation: QBA's Assets, Liabilities, and Results (Tables)

12 Months Ended

Apr. 30, 2016

Tables/Schedules

QBA's Assets, Liabilities, and Results

As of the disposal date, QBA's assets and liabilities are summarized as follows:

	July 25, 2014
Assets
Cash and cash equivalents	$2,969,661
Inventories	6,708
Accounts receivable	525
Other receivables and deposits	8,892
Property, plant and equipment, net	5,937
Total assets	2,991,723
Liabilities
Accounts payable	29,699
Accrued expenses and other payables	17,462
Total current liabilities	47,161
Net assets of QBA	2,944,562

The assets of QBA as of May 31, 2014 are classified as assets held for sale and liabilities in the consolidated balance sheet.

The results of QBA during the year (up to date of disposal) are summarized as follows:

	From June 1 2014 to July 25, 2014
Revenue	$3
Other income and gains	164
Service costs	-
Personnel cost	(93,580)
Depreciation expense	(3,689)
Administrative and other expenses	(6,916)
Net loss	(104,018)