Stock Options

6 Months Ended

Oct. 31, 2016

Stock Options [Abstract]

Stock options

10. Stock options

During the fiscal year ended April 30, 2013, the Company granted 200,000 stock options for services. The fair value of the stock options granted were estimated on the date granted using the Black-Scholes pricing model, with the following assumptions used for the valuation: exercise price of $0.55 per share, average risk-free interest rate of 0.79%, expected dividend yield of zero, expected lives of five years and an average expected volatility of 2.99%. During the six months ended October 31, 2016 and 2015, the Company recognized expense of nil and nil related to options that vested, respectively.

During the six-month period ended October 31, 2016, the Company issued no new stock options.

A summary of the status of the Company’s stock options and warrants as of October 31, 2016 is presented below:

	Number of
	Shares
Balance of stock options and warrants as at April 30, 2016		200,000
Warrants and options granted		-
Exercised, forfeited or expired		-
Outstanding at October 31, 2016		200,000
Exercisable at October 31, 2016		200,000

The following table summarizes information about the stock options and warrants as of October 31, 2016:

		Options and Warrants  Outstanding						Options and Warrants  Exercisable
Exercise Prices		Number Outstanding		Weighted Average Remaining Contractual  Life(in years)		Weighted  Average  Exercise Price		Number Exercisable		Weighted Average Exercise  Price
$	0.80		200,000		1.21	$	0.80		200,000	$	0.80