Note 16 - Variable Interest Entities ("vies"): Schedule of Consolidated VIEs (Tables)

12 Months Ended

Apr. 30, 2016

The total consolidated VIE assets and liabilities reflected on the Company's balance sheet are as follows:

	2016	2015
Assets
Cash and cash equivalents	$161,340	$482,559
Inventories	-	3,951
Accounts receivable	640,656	825,790
Tax recoverable	-	-
Other receivables and deposits	185,144	332,497
Goodwill	-	372,019
Property, plant and equipment, net	413,072	2,845,078
Intangible assets, net	381,670	443,700

Total assets (not include amount due from intra-group companies)	1,781,882	5,305,594

Liabilities
Deferred income	1,145,770	1,138,911
Accounts payable	755,461	361,141
Accrued expenses and other payables	2,081,052	3,036,788
Taxes payable	18,332	23,005
Total current liabilities	4,000,615	4,559,845

The results of VIEs are as follows, and are included in the consolidated statements of income of the Company:

	2016	2015

Revenue	$3,971,566	$7,343,342
Other income and gains	5,753	969,671
Service costs (Not including service costs payable to intra-group companies)	(3,980,948)	(6,889,162)
Personnel cost	(276,152)	(519,808)
Depreciation expense	(57,762)	(65,088)
Amortization expense	(43,264)	(209,926)
Administrative and other expenses	(447,258)	(684,006)

Income before provision for income taxes (Not including service costs payable to intra-group companies)	(4,078,739)	(54,977)
Income tax income/(provision for income taxes)	-	(40,002)

Net income	(4,078,739)	(94,979)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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