mmex_10q.htm

0001477932-17-000458.txt : 20170130 0001477932-17-000458.hdr.sgml : 20170130 20170130110946 ACCESSION NUMBER: 0001477932-17-000458 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 63 CONFORMED PERIOD OF REPORT: 20150731 FILED AS OF DATE: 20170130 DATE AS OF CHANGE: 20170130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MMEX Resources Corp CENTRAL INDEX KEY: 0001440799 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ALLIED TO MOTION PICTURE PRODUCTION [7819] IRS NUMBER: 261749145 FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-152608 FILM NUMBER: 17555849 BUSINESS ADDRESS: STREET 1: 3616 FAR WEST BLVD #117-321 CITY: AUSTIN STATE: TX ZIP: 78731 BUSINESS PHONE: 855-880-0400 MAIL ADDRESS: STREET 1: 3616 FAR WEST BLVD #117-321 CITY: AUSTIN STATE: TX ZIP: 78731 FORMER COMPANY: FORMER CONFORMED NAME: MMEX Mining Corp DATE OF NAME CHANGE: 20110223 FORMER COMPANY: FORMER CONFORMED NAME: Management Energy, Inc. DATE OF NAME CHANGE: 20090716 FORMER COMPANY: FORMER CONFORMED NAME: MGMT ENERGY, INC. DATE OF NAME CHANGE: 20090303 10-Q 1 mmex_10q.htm FORM 10-Q mmex_10q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended July 31, 2015

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________.

Commission file number: 333-152608

MMEX RESOURCES CORPORATION

(Exact name of Issuer as specified in its charter)

Nevada

26-1749145

(State or other Jurisdiction of

Incorporation or Organization)

(I.R.S. Employer

Identification No.)

3616 Far West Blvd. #117-321

Austin, Texas 78731

855-880-0400

(Address of principal executive offices, including zip code)

(Issuer’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ¨ No x

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

¨

Accelerated filer

¨

Non-accelerated filer

¨

Smaller reporting company

x

(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

Applicable only to issuers involved in bankruptcy proceedings during the preceding five years:

Indicate by check mark whether the registrant filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ¨ No ¨

Applicable only to corporate issuers:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. As of January 30, 2017, there were 906,923,522 shares of common stock, $0.001 par value, issued and outstanding.

MMEX RESOURCES CORPORATION

TABLE OF CONTENTS

QUARTER ENDED JULY 31, 2015

PART I – FINANCIAL INFORMATION

Item 1.
Financial Statements

3

Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations

23

Item 3.
Quantitative and Qualitative Disclosures About Market Risk

29

Item 4.
Controls and Procedures

29

PART II – OTHER INFORMATION

Item 1.
Legal Proceedings

31

Item 1A.
Risk Factors

31

Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds

31

Item 3.
Defaults Upon Senior Securities

31

Item 4.
Mine Safety Disclosures

31

Item 5.
Other Information

31

Item 6.
Exhibits

32

PART I – FINANCIAL INFORMATION

ITEM 1. Financial Statements

The accompanying condensed consolidated financial statements of MMEX Resources Corporation and subsidiaries (the “Company”) are unaudited and have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions for Form 10-Q. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements.

In the opinion of management, the condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented.

Operating results and cash flows for any interim period are not necessarily indicative of the results that may be expected for other interim periods or the full fiscal year. These condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K for the year ended April 30, 2015 filed with the Securities and Exchange Commission (“SEC”).

3

Table of Contents

MMEX RESOURCES CORPORATION

Condensed Consolidated Balance Sheets

July 31,
2015

April 30,
2015

(Unaudited)

Assets

Current assets:

Cash

$ 144

$ 141

Deferred loan costs – short term

-

8,822

Total current assets

144

8,963

Property and equipment, net

1,447

2,333

Other assets:

Deposits

10,000

10,000

Total assets

$ 11,591

$ 21,296

Liabilities and Stockholders’ Deficit

Current liabilities:

Accounts payable

$ 665,905

$ 669,709

Accounts payable – related party

-

8,033

Accrued expenses

1,180,422

1,187,052

Accrued expenses – related party

37,783

2,389,957

Notes payable, currently in default

375,000

375,000

Convertible notes payable, net of discount of $0 and $0 at July 31, 2015 and April 30, 2015, respectively, currently in default

195,001

2,145,001

Convertible preferred stock, currently in default

137,500

137,500

Derivative liabilities

303,830

-

Convertible notes payable – related party, net of discount of $0 and $17 at July 31, 2015 and April 30, 2015, respectively, currently in default

-

129,950

Preferred stock – mandatory redemption right, net of discount of $0 and $375,600 at July 31, 2015 and April 30, 2015, respectively

-

624,400

Total current liabilities

2,895,441

7,666,602

Commitments and contingencies

Stockholders’ deficit:

Common stock; $0.001 par value, 1,000,000,000 shares authorized, 57,148,313 and 57,188,313 shares issued and outstanding at July 31, 2015 and April 30, 2015, respectively

57,150

57,189

Common stock payable

4,879,256

90,000

Additional paid-in capital

22,428,158

20,215,398

Non-controlling interest

(375,244 )

(374,781 )

Accumulated (deficit)

(29,873,170 )

(27,633,112 )

Total stockholders’ deficit

(2,883,850 )

(7,645,306 )

Total liabilities and stockholders’ deficit

$ 11,591

$ 21,296

See accompanying notes to condensed consolidated financial statements.

4

Table of Contents

MMEX RESOURCES CORPORATION

Condensed Consolidated Statements of Operations
(Unaudited)

Three Months Ended
July 31,

2015

2014

Revenues

$ -

$ -

Operating expenses:

Selling, general and administrative expenses

101,344

195,228

Depreciation and amortization

886

1,251

Total operating expenses

102,230

196,479

Loss from operations

(102,230 )

(196,479 )

Other (expense):

Interest expense

(420,890 )

(122,530 )

Loss on derivative liabilities

(303,830 )

-

Loss on extinguishment of debt

(1,413,571 )

-

Total other (expense)

(2,138,291 )

(122,530 )

Loss before income taxes

(2,240,521 )

(319,009 )

Provision for income taxes

-

-

Net loss

(2,240,521 )

(319,009 )

Non-controlling interest in loss of consolidated subsidiaries

463

253

Net loss attributable to the Company

$ (2,240,058 )

$ (318,756 )

Weighted average number of common shares outstanding – basic and diluted

57,188,313

57,188,313

Net loss per common share – basic and diluted

$ (0.04 )

$ (0.01 )

See accompanying notes to condensed consolidated financial statements.

5

Table of Contents

MMEX RESOURCES CORPORATION

Condensed Consolidated Statements of Cash Flows
(Unaudited)

Three Months Ended
July 31,

2015

2014

Cash flows from operating activities:

Net loss attributable to the Company

$ (2,240,058 )

$ (318,756 )

Non-controlling interest in net loss

(463 )

(253 )

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization expense

886

1,251

Amortization of debt discount

375,617

53,861

Amortization of deferred loan costs

8,822

2,500

Loss on derivative liabilities

303,830

-

Loss on extinguishment of debt

1,413,571

-

Increase in liabilities:

Accounts payable

1,732

1,601

Accrued expenses

121,066

249,503

Net cash used in operating activities

(14,997 )

(10,293 )

Cash flows from investing activities:

Net cash used in investing activities

-

-

Cash flows from financing activities:

Proceeds from common stock payable

15,000

-

Proceeds from debt

-

10,000

Net cash provided by financing activities

15,000

10,000

Net increase (decrease) in cash

3

(293 )

Cash at the beginning of the period

141

434

Cash at the end of the period

$ 144

$ 141

Supplemental disclosure:

Interest paid

$ -

$ -

Income taxes paid

-

-

Debt discount on issuance of warrants

-

114

Adjustment to common stock and additional paid-in capital

(39 )

-

Accrued expenses contributed to capital

2,063,468

-

Preferred stock and accrued dividends converted to common stock payable

(1,410,685 )

-

Notes payable converted to common stock payable

1,950,000

-

Notes payable – related party contributed to capital

149,253

-

See accompanying notes to condensed consolidated financial statements.

6

Table of Contents

MMEX RESOURCES CORPORATION

Notes to Condensed Consolidated Financial Statements

Three Months Ended July 31, 2015
(Unaudited)

NOTE 1 – BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION

MMEX Resources Corporation (the “Company” or “MMEX”) was formed in the State of Nevada on May 19, 2005 as Inkie Entertainment Group, Inc. Subsequently, the Company amended its articles of incorporation to change its name to MMEX Resources Corporation and to authorize the Company to issue up to 3,000,000,000 common shares and 10,000,000 preferred shares. The changes in the number of authorized shares of the Company have been given retroactive effect in the accompanying consolidated financial statements.

The Board of Directors of the Company has decided to focus efforts on the oil, gas, refining and electric power business in the United States and Latin America.

The accompanying condensed consolidated financial statements include the accounts of the following entities, all of which the Company maintains control through a majority ownership:

Name of Entity

%

Form
of Entity

State of
Incorporation

Relationship

MMEX Resources Corporation (“MMEX”)

-

Corporation

Nevada

Parent

MCC Merger, Inc. (“MCCM”)

100 %

Corporation

Delaware

Holding Subsidiary

Maple Carpenter Creek Holdings, Inc. (“MCCH”)

100 %

Corporation

Delaware

Subsidiary

Maple Carpenter Creek, LLC (“MCC”)

80 %

LLC

Nevada

Subsidiary

Carpenter Creek, LLC (“CC”)

95 %

LLC

Delaware

Subsidiary

Armadillo Holdings Group Corp. (“AHGC”)

100 %

Corporation

British Virgin Isles

Subsidiary

Armadillo Mining Corp. (“AMC”)

98.6 %

Corporation

British Virgin Isles

Subsidiary

All significant inter-company transactions have been eliminated in the preparation of the consolidated financial statements.

These financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for a fair presentation of the information contained therein.

The Company has adopted a fiscal year end of April 30.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Our significant accounting policies are described in our Annual Report on Form 10-K for the year ended April 30, 2015 filed with the SEC on July 11, 2016.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

7

Table of Contents

Derivative liabilities

In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives. We estimate the fair value of the derivatives using multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility and management’s estimates of various potential equity financing transactions. These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.

Fair value of financial instruments

Under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, and ASC 825, Financial Instruments, the FASB establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. This Statement reaffirms that fair value is the relevant measurement attribute. The adoption of this standard did not have a material effect on the Company's financial statements as reflected herein. The carrying amounts of cash, accounts payable, accrued expenses and notes reported on the accompanying consolidated balance sheets are estimated by management to approximate fair value primarily due to the short-term nature of the instruments.

An entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value using a hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy prioritized the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in markets that are not active.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

8

Table of Contents

Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows at July 31, 2015:

Total

Level 1

Level 2

Level 3

Derivative liability

$ 303,830

$ -

$ -

$ 303,830

Basic and diluted loss per share

Basic net income or loss per share is calculated by dividing net income or loss (available to common stockholders) by the weighted average number of common shares outstanding for the period. Diluted income or loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, warrants, convertible debt and convertible preferred stock, were exercised or converted into common stock. For the three months ended July 31, 2015 and 2014, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share; therefore, basic net loss per share is the same as diluted net loss per share.

Issuance of shares for non-cash consideration

The Company accounts for the issuance of equity instruments to acquire goods and/or services based on the fair value of the goods and services or the fair value of the equity instrument at the time of issuance, whichever is more reliably determinable. The Company's accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows the provisions of the standards issued by the FASB. The measurement date for the fair value of the equity instruments issued is determined as the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor's performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement.

Reclassifications

Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation.

Recently Issued Accounting Pronouncements

In October 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-17, “Consolidation (Topic 810): Interests Held Through Related Parties That are Under Common Control.” This update amends the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (“VIE”) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The primary beneficiary of a VIE is the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.

9

Table of Contents

In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.

In March 2016, the FASB issued ASU No. 2016-09, "Stock Compensation (Topic 718)", which is intended to simplify several aspects of the accounting for share-based payment award transactions, including the income tax impacts, the classification on the statement of cash flows, and forfeitures. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.

In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)". The amendments in this ASU revise the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases. The new lease guidance also simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2018 and are to be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.

Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations.

NOTE 3 – GOING CONCERN

Our financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplate the realization of assets and liquidation of liabilities in the normal course of business. We have incurred continuous losses from operations, have an accumulated deficit of $29,873,170 and a total stockholders’ deficit of $2,883,850 at July 31, 2015, and have reported negative cash flows from operations since inception. In addition, we do not currently have the cash resources to meet our operating commitments for the next twelve months, and we expect to have ongoing requirements for capital investment to implement our business plan. Finally, our ability to continue as a going concern must be considered in light of the problems, expenses and complications frequently encountered by entrance into established markets and the competitive environment in which we operate.

Since inception, our operations have primarily been funded through private debt and equity financing, as well as capital contributions by our subsidiaries' partners, and we expect to continue to seek additional funding through private or public equity and debt financing.

10

Table of Contents

Our ability to continue as a going concern is dependent on our ability to generate sufficient cash from operations to meet our cash needs and/or to raise funds to finance ongoing operations and repay debt. However, there can be no assurance that we will be successful in our efforts to raise additional debt or equity capital and/or that our cash generated by our operations will be adequate to meet our needs. These factors, among others, indicate that we may be unable to continue as a going concern for a reasonable period of time.

The financial statements do not include any adjustments that might result from the outcome of any uncertainty as to the Company's ability to continue as a going concern. The financial statements also do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 4 – RELATED PARTY TRANSACTIONS

During the past few years, Tydus Richards, the former Chairman of our board of directors and shareholder, made certain payments on behalf of the Company. The Company has partially reimbursed Mr. Richards for these advances. As of July 31, 2015 and April 30, 2015, a remaining balance payable of $31,633 is included in accrued expenses – related party.

On May 18, 2015, Jack W. Hanks, Bruce N. Lemons and Nabil Katabi, the then three directors of the Company and certain companies under their control, entered an agreement to forgive the following indebtedness from the Company totaling $2,212,721 as of April 30, 2015 and contribute the amounts to capital.

Accounts
Payable

Accounts Payable – Related Party

Accrued Expenses

Notes Payable

Hanks:

Accrued compensation

$ -

$ -

$ 883,584

$ -

Accounts payable

-

8,033

-

-

Notes payable

-

-

-

39,337

Accrued interest payable

-

-

5,901

-

Lemons:

Accrued consulting fees

-

-

791,315

-

Notes payable

-

-

-

63,530

Accrued interest payable

-

-

9,320

-

Katabi:

Accounts payable

5,536

-

-

-

Accrued consulting fees

-

-

375,000

-

Notes payable

-

-

-

27,100

Accrued interest payable

-

-

4,065

-

Total

$ 5,536

$ 8,033

$ 2,069,185

$ 129,967

11

Table of Contents

On September 4, 2010, MCCH entered an employment agreement with the Company's CEO, Jack W. Hanks, for a two-year term, automatically renewable for one-year terms thereafter, at an annual compensation of $300,000 per year. The agreement was cancelled effective May 1, 2015.

On September 4, 2010, MCCH entered a consulting agreement with Bruce N. Lemons, one of the Company's two directors, for a two-year term, automatically renewable for one-year terms thereafter, at an annual compensation of $170,000 per year. The agreement was cancelled effective May 1, 2015.

Accrued expenses (see Note 6) to related parties totaled $37,783 and $2,389,957 as of July 31, 2015 and April 30, 2015, respectively.

The convertible notes payable – related party that were forgiven and contributed to capital consisted of the following at April 30, 2015:

Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share

$

53,530

Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, maturing June 30, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share

10,000

Note payable to Delavega Trading Ltd., controlled by Nabil Katabi, maturing June 20, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.25 per share

27,100

Note payable to The Maple Gas Corporation, owned by Jack W. Hanks, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share

39,337

Total

$
129,967

BNL Family Partners Convertible Notes

On September 15, 2012, the Corporation entered into a $4,500 convertible note agreement with BNL Family Partners, Ltd., a related party. Mr. Bruce N. Lemons, a director of the Corporation, is a partner of BNL Family Partners. The note carries a 20% interest rate until maturity at September 30, 2013 and is convertible into common shares of the Company at the holder's option at $0.20 per share. The holder may accelerate repayment of the promissory notes upon the Company raising additional capital of $150,000. The computed interest of $900 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 4,500 warrants valued at $800 using the Black-Scholes option pricing model. The value of the warrants of $800 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.30 per common share until September 15, 2015.

12

Table of Contents

Subsequently, the Company converted the note payable described above and additional advances from BNL Family Partners into a single $53,530 convertible note agreement with BNL Family Partners. The holder may accelerate repayment of the promissory note upon the Corporation raising additional capital of $1,000,000. The holder may also convert the note into common shares of the Company at the holder's option at $0.025 per Common Share. As the conversion option is above the value of the stock on the date of conversion, no beneficial conversion feature was recorded with this note.

On June 20, 2014, the Company entered into a $10,000 convertible note agreement with BNL Family Partners. The note carries a 15% interest rate until maturity on June 20, 2015 and is convertible into common shares at the holder's option at $0.025 per common share. The Company issued 10,000 warrants valued at $114 using the Black-Scholes option pricing model. The value of the warrants of $114 was recorded as an increase to debt discount and to additional paid-in capital. The warrants are exercisable at an exercise price of $0.05 per common share until June 30, 2017.

On May 18, 2015, the two BNL Family Partners notes were forgiven and contributed to capital.

Delavega Trading Ltd. Convertible Notes

On August 1, 2012, the Company entered into a $13,000 convertible note agreement with Delavega Trading Ltd., a related party. Mr. Nabil Katabi, a former director of the Company, is a control person of Delavega Trading Ltd. The note carries a 20% interest rate until maturity at September 30, 2013 and is convertible into common shares of the Company at the holder's option at $0.20 per common share. The computed interest of $2,600 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 13,000 warrants valued at $1,292 using the Black-Scholes option pricing model. The value of the warrants of $1,292 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.30 per common share until August 1, 2015.

On December 17, 2012, the Company entered into a $6,500 convertible note agreement with Delavega Trading Ltd. The note carries a 20% interest rate until maturity at December 17, 2013 and is convertible into common shares of the Company at the holder's option at $0.20 per common share. The computed interest of $1,300 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 6,500 warrants valued at $549 using the Black-Scholes option pricing model. The value of the warrants of $549 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.30 per common share until December 17, 2015.

Subsequently, the Company converted the notes payable described above and associated accrued interest and additional advances from Delavega Trading Ltd. into a single $27,100 convertible note agreement with Delavega Trading Ltd. The holder may accelerate repayment of the promissory note upon the Company raising additional capital of $1,000,000. The holder may also convert the note into common shares of the Company at the holder's option at $0.025 per Common Share. As the conversion option was above the value of the stock on the date of conversion, no beneficial conversion feature was recorded with this note.

On May 18, 2015, the Delavega Trading Ltd. note was forgiven and contributed to capital.

Maple Gas Convertible Notes

During the year ended April 30, 2014, The Maple Gas Corporation, a related party owned by Mr. Jack W. Hanks, a director and officer of the Company, advanced funds or incurred expenses on behalf of the Company. On April 30, 2014, the Company entered into a $39,337 convertible note agreement with Maple Gas Corporation for the total advances to that date. The note carries a 15% interest rate. The holder may accelerate repayment of the promissory note upon the Company raising additional capital of $1,000,000. The holder may also convert the note into common shares of the Company at the holder's option at $0.025 per common share. As the conversion option was above the value of the stock on the date of conversion, no beneficial conversion feature was recorded with this note.

13

Table of Contents

On May 18, 2015, the Maple Gas Corporation note was forgiven and contributed to capital.

On October 9, 2014, convertible notes payable in default to an accredited investor of $1,650,000, $120,000 and $180,000 (see Note 7) were assigned to The Maple Gas Corporation. On May 8, 2015, The Maple Gas Corporation converted the notes into 194,999,999 common shares of the Company at $0.01 per share, which resulted in a loss on extinguishment of debt of $975,000. The issuance of the common shares to Maple Structure Holdings was approved by the Company’s Board of Directors Resolution dated May 18, 2015. The shares were issued subsequent to July 31, 2015 (see Note 14). At July 31, 2015, common stock payable included an obligation of $2,925,000 for the issuance of the shares

NOTE 5 – PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at:

July 31,
2015

April 30,
2015

Computer software and hardware

$ 25,023

$ 25,023

Less accumulated depreciation and amortization

(23,576 )

(22,690 )

$ 1,447

$ 2,333

Depreciation and amortization expense totaled $886 and $1,251 for the three months ended July 31, 2015 and 2014, respectively.

NOTE 6 – ACCRUED EXPENSES

Accrued expenses consisted of the following at:

July 31,
2015

April 30,
2015

Accrued payroll

$ 301,359

$ 1,184,943

Accrued consulting

292,301

1,433,616

Accrued dividend

-

410,685

Accrued interest

562,004

485,224

Other

62,541

62,541

$ 1,218,205

$ 3,577,009

14

Table of Contents

NOTE 7 – NOTES PAYABLE

Notes payable, currently in default, consist of the following at:

July 31,
2015

April 30,
2015

Note payable to an unrelated party, maturing July 15, 2010, with interest at 10%

$

300,000

$

300,000

Note payable to an unrelated party, maturing December 31, 2010, with interest at 10%

25,000

25,000

Note payable to an unrelated party, maturing January 27, 2012, with interest at 25%

50,000

50,000

$ 375,000

$ 375,000

Accrued interest payable on notes payable, currently in default, totaled $245,540 and $235,227 at July 31, 2015 and April 30, 2015, respectively.

Convertible notes payable, currently in default, consist of the following at:

July 31,
2015

April 30,
2015

Note payable to an accredited investor, maturing July 31, 2013, with interest at 10%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, secured with 2,995,000 common shares of the Company, converted to common stock in May 2015

$

-

$

1,650,000

Note payable to an accredited investor, maturing October 31, 2013, with interest at 20%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015

-

120,000

Note payable to an accredited investor, maturing February 1, 2014, with interest at 20%, convertible upon default at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015

-

180,000

Note payable to an accredited investor, maturing March 1, 2013, with interest at 1.87% per month, secured with 900,000 common shares of the Company owned by the president and CEO of the Company

120,000

120,000

Note payable to an unrelated party, maturing March 18, 2014, with interest at 10%

75,001

75,001

Total

195,001

2,145,001

Less discount

-

-

Net

$ 195,001

$ 2,145,001

15

Table of Contents

Accrued interest payable on convertible notes payable, currently in default, totaled $86,237 and $77,630 at July 31, 2015 and April 30, 2015, respectively.

On April 25, 2012, four prior convertible notes payable to an accredited investor were combined into a new $1,500,000 note. The note was due and payable on July 31, 2013. The note bore interest at 10% due at maturity. The computed interest of $150,000 was added to the balance of the note and recorded as additional debt discount. The note was convertible at the option of the holder into shares of the Company’s common stock at a fixed conversion price of $0.20 per share.

On August 15, 2012, the Company entered into a $100,000 convertible note agreement with an accredited investor. The note was subject to a 20% placement fee payable to the holder irrespective of the date redeemed, matured on October 31, 2013 and was convertible at the option of the holder into shares of the Company’s common stock at a fixed conversion price of $0.20 per share. The computed interest of $20,000 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 120,000 warrants valued at $14,232 using the Black-Scholes option pricing model. The value of the warrants of $14,232 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.30 per common share until August 15, 2015.

On February 1, 2013, the Company entered into a $150,000 convertible note agreement with an unrelated party. The note was due and payable on February 1, 2014 and carried an interest rate of 20%. The note was convertible upon default at the option of the holder into shares of the Company’s common stock at a fixed conversion price of $0.20 per share. The computed interest of $30,000 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 150,000 warrants valued at $16,103 using the Black-Scholes option pricing model. The value of the warrants of $16,103 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.20 per common share on or before three years from the repayment or conversion date.

On October 9, 2014, the convertible notes payable in default of $1,650,000, $120,000 and $180,000 were assigned to The Maple Gas Corporation, a company owned by Jack W. Hanks, the Company’s President and CEO. On May 8, 2015, The Maple Gas Corporation converted the notes into 195,000,000 common shares of the Company at $0.01 per share, which resulted in a loss on extinguishment of debt of $975,000. The issuance of the common shares to Maple Structure Holdings was approved by the Company’s Board of Directors Resolution dated May 18, 2015, and common stock payable at July 31, 2015 included an obligation of $2,925,000 for the issuance of the shares. See Note 13.

On January 2, 2013, the Company closed a note purchase agreement with an accredited investor pursuant to which the Company sold a $120,000 note in a private placement transaction. The note was due and payable on March 1, 2013, is currently in default and carries a monthly interest rate of 1.87%. The note purchase agreement included the issuance of 300,000 shares of the Company’s common stock. The note is secured with 900,000 shares of the Company’s common stock owned by Jack W. Hanks, the Company’s President and CEO. The 300,000 shares were valued at $0.10 per share, the closing price of the Company’s common stock on January 2, 2013, and recorded as a $30,000 increase to debt discount and an increase to common stock payable.

The Company allocated the proceeds from the issuance of the notes to the warrants when applicable and to the notes based on their estimated fair market values at the date of issuance using the Black-Scholes option pricing model. The debt discount resulting from interest and the value of warrants computed at the inception of the notes payable was amortized as additional interest expense over the term of the notes.

16

Table of Contents

NOTE 8 – CONVERTIBLE PREFERRED STOCK

Preferred Stock – Mandatory Redemption Right

On March 22, 2011, the Company issued 1,000,000 shares of Series A Preferred Stock (the “Preferred Stock”) to William D. Gross, an unrelated party, in exchange for an investment of $1,000,000. The shares may be converted into the Company’s common shares at $0.40 per common share. The Preferred Stock carry a 10% cumulative dividend and have a mandatory redemption feature on the earlier of March 1, 2016 or on a change of control transaction. The Company is required to redeem the shares at a liquidation value of $1.00 per share plus any accrued and unpaid dividends. Due to the mandatory redemption feature, the Company recorded the investment as a liability under ASC Subtopic 480-10.

The Company recorded the intrinsic value of the beneficial conversion of $1,000,000 as debt discount and has amortized the discount through the mandatory redemption feature date of March 1, 2016. During the three months ended July 31, 2015 and 2014, amortization of debt discount to interest expense totaled $375,600 and $53,848, respectively. The investment is collateralized with a security interest in 2,500,000 shares of the Company’s common stock.

Loan costs of $50,000 incurred on the issuance of the Preferred Stock were recorded as deferred loan costs and have been amortized by the effective interest method. The Company recorded amortization of deferred loan costs in the amount of $8,822 and $2,500 for the three months ended July 31, 2015 and 2014, respectively. Unpaid dividends payable on the Preferred Stock totaled $0 and $410,685 at July 31, 2015 and April 30, 2015, respectively.

On October 7, 2014, The Company transferred the 1,000,000 Preferred Shares from Mr. Gross to Maple Structure Holdings, LLC, a related party controlled by Mr. Jack W. Hanks, a director and officer of the Company.

On May 18, 2015, Maple Structure Holdings converted the 1,000,000 Preferred Shares with a book value of $1,000,000 and accrued dividends of $410,685 into 123,283,700 common shares of the Company at $0.01 per share, which resulted in a loss on extinguishment of debt of $438,571. The unamortized discount on the Preferred Shares of $375,600 was charged to interest expense. The issuance of the common shares to Maple Structure Holdings was approved by the Company’s Board of Directors Resolution dated May 18, 2015.

Convertible Preferred Stock, Currently in Default

On June 30, 2011, the Company issued 360,000 shares of Armadillo Mining Corporation Preferred Stock to five unrelated parties in exchange for an investment of $360,000. The Preferred Stock carry a 25% cumulative dividend and have a mandatory redemption feature on December 31, 2011 at a price of $1.25 per share. In addition, the Company issued 360,000 warrants to purchase shares of the Company’s common stock at an exercise price of $0.60 per share on or before three years from the repayment or conversion date.

On January 6, 2012, three unrelated parties converted their Preferred Stock and accrued dividends of $312,500 into 2,983,293 shares of the Company’s common stock at a price of $.10475 per share. As the conversion took place at below the market price and not within the terms of the agreement on the date of conversion, a loss of $75,328 was recorded. As of July 31, 2015 and April 30, 2015, the remaining face value of the Preferred Stock was $137,500. Accrued dividends on the Preferred Stock totaled $230,227 and $213,039 as of July 31, 2015 and April 30, 2015, respectively.

The Company recorded interest expense, which includes amortization of debt discount on certain debt described above, totaling $420,890 and $122,530 for the three months ended July 31, 2015 and 2014, respectively.

17

Table of Contents

NOTE 9 – DERIVATIVE LIABILITIES

In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives.

During the three months ended July 31, 2015, we had the following activity in our derivative liabilities:

Balance, April 30, 2015

$ -

Increases in derivative value due to new issuances of notes

303,833

Change in fair value of derivative liabilities

(3 )

Balance, July 31, 2015

$ 303,830

The Company calculated the fair value of the derivatives using a multinomial lattice model simulation. The model is based on a probability weighted discounted cash flow model using projections of the various potential outcomes.

Key inputs and assumptions used in valuing the Company’s derivative liabilities are as follows for issuances of warrants:

· Stock prices on all measurement dates were based on the fair market value

· Risk-free interest rates ranging from 1.03% – 2.49%

· The probability of future financing was estimated at 100%

· Computed volatility ranging from 103% to 249%

These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.

NOTE 10 – STOCKHOLDERS’ DEFICIT

Authorized Shares

Pursuant to amendments to its articles of incorporation (Note 13), the Company increased its authorized shares to 3,000,000,000 common shares and 10,000,000 preferred shares. The increase in authorized shares has been given retroactive effect in the accompanying condensed consolidated financial statements for all periods presented.

18

Table of Contents

Adjustment to Outstanding Shares

During the three months ended July 31, 2015, the Company cancelled 40,000 outstanding shares of its common stock, resulting in a decrease to common stock and an increase to additional paid-in capital of $39.

Stock Issuances

During the three months ended July 31, 2015, the Company did not issue any shares of its common or preferred stock.

Common Stock Payable

On May 8, 2015, a related party converted convertible notes payable with a book value of $1,950,000 into 194,999,999 common shares of the Company at $0.01 per share. The common shares issued were valued at $0.015 per share, the market price on the date of the conversion, which resulted in a loss on extinguishment of debt of $975,000. The common shares were issued subsequent to July 31, 2015, and common stock payable included $2,925,000 at July 31, 2015 related to this transaction.

On May 18, 2015, a related party converted 1,000,000 Preferred Shares with a book value of $1,000,000 and accrued dividends of $410,685 into 123,283,700 common shares of the Company at $0.01 per share. The common shares issued were valued at $0.015 per share, the market price on the date of the conversion, which resulted in a loss on extinguishment of debt of $438,571. The common shares were issued subsequent to July 31, 2015, and common stock payable included $1,849,256 at July 31, 2015 related to this transaction.

During the three months ended July 31, 2015, the Company completed subscription agreements for common stock and warrants with qualified investors in a private placement for cash of $15,000. The shares of common stock were issued subsequent to July 31, 2015, and common stock payable included $15,000 at July 31, 2015 related to these transactions. The attached warrants were identified as derivatives, resulting in derivative liabilities of $303,830 at July 31, 2015 (see Note 9).

Stock Options

On March 7, 2012, the Company issued a total of 2,000,000 stock options exercisable at $0.35 per share for a period of ten years from the date of grant. The Company did not grant any stock options during the three months ended July 31, 2015.

19

Table of Contents

A summary of stock option activity during the three months ended July 31, 2015 is presented below:

Shares

Weighted Average

Exercise Price

Weighted Average

Remaining Contractual Life (Years)

Outstanding, April 30, 2015

2,000,000

$ 0.35

6.85

Granted

-

-

Canceled / Expired

-

-

Exercised

-

-

Outstanding, July 31, 2015

2,000,000

$ 0.35

6.61

The Company uses the Black-Scholes option pricing model to estimate the grant date fair value of its stock options, which value is amortized to stock-based compensation expense over the vesting period of the options. No stock-based compensation expense was recorded during the three months ended July 31, 2015 and 2014 related to stock option grants. There was no unrecognized stock option expense at July 31, 2015.

Warrants

The Company has issued warrants to non-employees for debt discounts, equity financing or other stock-based compensation. These warrants generally vest upon grant and are valued using the Black-Scholes option pricing model or multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes.

A summary of warrant activity during the three months ended July 31, 2015 is presented below:

Shares

Weighted Average

Exercise Price

Weighted Average

Remaining Contractual Life (Years)

Outstanding, April 30, 2015

32,875,345

$ 0.33

.42

Granted

2,192,794

$ 0.01

Canceled / Expired

(32,334,345 )

$ 0.33

Exercised

-

-

Outstanding, July 31, 2015

2,733,794

$ 0.06

5.34

Common Stock Reserved

At July 31, 2015, 2,733,794 shares of the Company’s common stock were reserved for issuance of outstanding warrants.

20

Table of Contents

NOTE 11 – NON-CONTROLLING INTERESTS

On September 23, 2010, the Company, through a reverse merger, acquired 100% of the outstanding shares of Maple Carpenter Creek Holdings, Inc., ("MCCH"), a holding Company, with an 80% interest in Maple Carpenter Creek, LLC ("MCC"), which in turn owned a 95% interest in the subsidiary, Carpenter Creek, LLC ("CC"), and a 98.12% interest in Armadillo Holdings Group Corp. ("AHGC"), which in turn owned an 80% interest in Armadillo Mining Corp. ("AMC"). The non-controlling interest of 1.88% in AHGC was acquired by MCCH on December 21, 2010 in exchange for 31,334 shares of the Company’s common stock resulting in 100% ownership of AHGC. On March 22, 2011, AHGC acquired 14.6% of AMC and on April 30, 2012, an additional 4% interest for a total of 98.6% based upon agreement with the minority interest holder to reduce their interest based upon proportionate share of additional capital contributed to AMC.

NOTE 12 – COMMITMENTS AND CONTINGENCIES

Legal

There were no legal proceedings against the Company.

Operating Lease Commitments

The Company acquired the Bolzer Lease pursuant to a September 23, 2010 merger. Subsequently, notice of termination on this lease effective April 26, 2010 was provided by previous management. The Company has recorded an accrued expense for the minimum lease payment of $62,541 for the January 2010 payment.

NOTE 13 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, all subsequent events have been reported through the filing date as set forth below.

Amendments of Articles of Incorporation

As of April 6, 2016, the Company amended its articles of incorporation to change its corporate name from MMEX Mining Corporation to MMEX Resources Corporation and to increase its authorized shares to 1,000,000,000 common shares and 10,000,000 preferred shares.

As of November 29, 2016, the Company amended its articles of incorporation to increase its authorized common shares to 3,000,000,000 shares.

Transfer of Coal Project

As of April 13, 2016, the Company assigned AMC to an irrevocable trust (the "Trust"), whose beneficiaries are the existing shareholders of MMEX. AMC through the Trust controls the Hunza coal interest previously owned by the Company.

On September 1, 2016, the Company entered into a stock assignment agreement with LatAm Services, LLC (“LatAm”) pursuant to which it assigned MCCH to LatAm. With the assignment of MCCH to LatAm, the Company has exited the Hunza coal project to focus on energy related projects under its new business plan.

Issuance of Common Shares for Conversion of Preferred Shares and Convertible Notes Payable

On November 10, 2015, the Company issued 123,283,700 of its common shares to a related party pursuant to the conversion of preferred stock and accrued dividends (Note 8).

On May 2, 2016, the Company issued a total of 194,999,999 shares of its common stock to a related party pursuant to the conversion of notes payable in default (see Note 7).

21

Table of Contents

Private Placement

As the Company continues to expand its business and implement its business strategy, its current monthly cash flow requirements will exceed its near term cash flow from operations. In order to fund its development costs, the Company initiated in fiscal year 2016 a private placement to qualified investors for cash and services. Through the date of the filing of this report, $118,230 cash and $60,000 in services had been received, including $49,200 cash from related parties, for a total of 41,784,320 common shares of the Company and a total of 43,025,313 warrants. The warrants entitle the investors to purchase common shares at exercise prices of $0.0001 and $0.01 per share through March 1, 2022. Of the common shares issued, 1,096,397 shares were issued in July 2016, 27,740,123 shares were issued in December 2016 and 12,947,500 shares were issued in January 2017.

Settlement Agreement and Stipulation

On October 28, 2016, the Company entered into a Settlement Agreement and Stipulation (the “Settlement Agreement”) with Rockwell Capital Partners, Inc. (“RCP”). Pursuant to the Settlement Agreement, as amended, RCP has purchased certain outstanding payables between the Company and designated vendors totaling $109,391 (the “Payables” or “Claims”) and will exchange the portion of such Payables assigned for a Settlement Amount payable in common shares of the Company.

In settlement of the Claims, the Company shall issue and deliver to RCP, in one or more tranches as necessary, shares of the Company’s common stock (“Common Stock”), subject to adjustment and ownership limitations as set forth in the Settlement Agreement, sufficient to satisfy the Claims amount at a 50% discount to market based on the market price during the valuation period as defined in the Settlement Agreement. The Company also issued 7,000,000 shares of Common Stock as a settlement fee on October 31, 2016.

On October 28, 2016, a circuit court in Florida issued an order confirming the fairness of the terms of the Settlement Agreement within the meaning of exemption from registration provided by Section 3(a) (10) of the Securities Act of 1933.

The Company issued the following shares of its common stock to RCP in settlement of Claims: 10,000,000 shares on November 3, 2016, 15,000,000 shares on November 4, 2016, 18,000,000 shares on November 10, 2016, 18,000,000 shares on November 16, 2016, 14,000,000 shares on November 21, 2016, 22,000,000 shares on November 28, 2016, 22,000,000 shares on November 30, 2016, 25,000,000 shares on December 5, 2016, 25,000,000 shares on December 7, 2016, 27,000,000 shares on January 4, 2017, 28,000,000 shares on January 6, 2017, 29,000,000 shares on January 10, 2017, 30,000,000 shares on January 11, 2017, 31,000,000 shares on January 12, 2017, 33,000,000 shares on January 18, 2017, 34,000,000 shares on January 23, 2017, 35,000,000 shares on January 25, 2017 and 36,000,000 shares on January 26, 2017.

Other Subsequent Events

As of June 29, 2016, the Board of Directors executed a Board Resolution that the Directors of the Company may be two directors pursuant to the By-Laws of the Company. As of June 29, 2016, Nabil Katabi resigned as a director of the Company.

On January 24, 2017, the Company issued 2,082,190 shares of its common stock to a former employee in settlement of accrued salaries of $208,219.

On January 24, 2017, the Company issued 28,625,000 shares of its common stock to a consultant in payment of services valued at $5,725.

22

Table of Contents

ITEM 2 Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis constitutes forward-looking statements for purposes of the Securities Act and the Exchange Act and as such involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The words "expect", "estimate", "anticipate", "predict", "believes", "plan", "seek", "objective" and similar expressions are intended to identify forward-looking statements or elsewhere in this report. Important factors that could cause our actual results, performance or achievement to differ materially from our expectations are discussed in detail in Item 1 above. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by such factors. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Notwithstanding the foregoing, we are not entitled to rely on the safe harbor for forward looking statements under 27A of the Securities Act or 21E of the Exchange Act as long as our stock is classified as a penny stock within the meaning of Rule 3a51-1 of the Exchange Act. A penny stock is generally defined to be any equity security that has a market price (as defined in Rule 3a51-1) of less than $5.00 per share, subject to certain exceptions.

The following discussion should be read in conjunction with the Condensed Consolidated Financial Statements, including the notes thereto.

Overview

New Business Plan

The MMEX Board of Directors has made the decision to focus the Company efforts into the oil, gas, refining and electric power business in the U.S. and in Latin America. The principal reasons are the following:

·

MMEX principal shareholders and directors are also principals in a privately held U.S. oil and gas company, Maple Resources Corporation ('Maple") based in Austin, Texas.

·

The MMEX management team has over 30 years of experience in natural resource project development and project financing in North and South America and the U.K.

·

MMEX directors and principal shareholders with oil, gas, refining and electric power experience will bring this expertise into the Company.

Management Expertise in Oil, Gas, Refining and Electric Power Project Development and Project Finance Development

MMEX principals formed Maple Resources Corporation ("Maple Resources") in 1986. Maple Resources is a privately held corporation, registered in Delaware, with its principal operating offices in Austin, Texas. It is engaged in the evaluation, acquisition and development of oil & gas, refining, power generation, natural gas transmission and processing energy projects in the western United States and Latin America. Maple Resources was established in 1986 in Dallas, Texas USA. Maple Resources engaged in a number of oil and gas acquisitions and dispositions and ultimately acquired assets that included 10 gas processing plants and approximately 770 miles of natural gas gathering lines and transmission infrastructure. In 1992, Maple Resources Dallas sold substantially all of its existing US-based assets and began to pursue energy projects in Latin America. Maple Resources went to Peru in 1992 and managed its Peru business through The Maple Gas Corporation del Peru Ltd ("Maple Peru"). In 1993, Maple Peru began developing the Aguaytía Project, an integrated natural gas and electric power generation and transmission project. This US$ 273 million project involved the first commercial development of a natural gas field in Peru, as well as the construction and operation of approximately 175 miles of hydrocarbon pipelines, a gas processing plant, a fractionation facility, a 153 MW power plant and the related 392 km of electricity transmission lines. The Aguaytía Project began commercial operation in 1998. Maple Peru also acquired a 4,000 barrel per day refinery in Pucallpa along with 3 producing oil fields. In 2007, Maple Peru was registered on the London Stock Market AIM under the name of Maple Energy, plc. In October 2015, Maple Resources along with its partners took Maple Gas del Peru private with the acquisition of the company from Maple Energy, plc, the publicly listed company.

23

Table of Contents

Development Strategy

The new development strategy is to focus on the acquisition, development and financing of oil, gas, refining and electric power projects in Texas, Peru and other countries in Central and Latin America.

As we continue to expand our business and implement our business strategy, our current monthly cash flow requirements will exceed our near term cash flow from operations. Our available cash resources and anticipated cash flow from operations are insufficient to satisfy our anticipated costs associated with new project development. There can be no assurance that we will be able to generate sufficient cash from operations in future periods to satisfy our capital requirements. Therefore, we will have to continue to rely on external financing activities, including the sale of our equity securities, to satisfy our capital requirements for the foreseeable future. Due, in part, to our lack of historical earnings, our prior success in attracting additional funding has been limited to transactions in which our equity is used as currency. In light of the availability of this type of financing, and the lack of alternative proposals, our board of directors has determined that the continued use of our equity for these purposes may be necessary if we are to sustain operations. Equity financings of the type we have been required to pursue are dilutive to our stockholders and may adversely impact the market price for our shares. We recently completed a private placement financing with certain accredited investors, including our two executive officers and directors. However, we have no commitments for borrowings or additional sales of equity, the precise terms upon which we may be able to attract additional funding is not known at this time, and there can be no assurance that we will be successful in consummating any such future financing transactions on terms satisfactory to us, or at all.

Results of Operations

We recorded a net loss of $2,240,521, or $0.04 per share, for the three months ended July 31, 2015, compared to a net loss of $319,009, or $0.01 per share, for the three months ended July 31, 2014.

Revenues

We have not yet begun to generate revenues.

Operating Expenses

Our selling, general and administrative expenses decreased $93,884 to $101,344 for the three months ended July 31, 2015 from $195,228 for the three months ended July 31, 2014. The decrease is due to reduced payroll and professional fees as we have focused on our new development strategy.

Depreciation and Amortization Expense

Our depreciation and administrative expenses are not currently material to our operations. Depreciation and administrative expenses were $886 and $1,251 for the three months ended July 31, 2015 and 2014, respectively.

Other (Expense)

Our interest expense increased $298,360 to $420,890 for the three months ended July 31, 2015 from $122,530 for the three months ended July 31, 2014. During the current fiscal year, we reduced our interest-bearing indebtedness; however, the decreased interest expense attributable to the debt reduction was offset by increased interest expense attributable to debt discount being amortized to interest expense.

24

Table of Contents

For the three months ended July 31, 2015, we reported a loss on derivative liabilities of $303,830. In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives. We estimate the fair value of the derivatives using multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility and management’s estimates of various potential equity financing transactions. These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.

For the three months ended July 31, 2015, we reported a loss on extinguishment of debt of $1,413,571 resulting primarily from the conversion of preferred stock and accrued dividends and convertible notes payable to shares of our common stock. We record the value of the shares issued at the current market price, which has been significantly higher than the conversion price per share, resulting in a loss on conversion.

Net Loss

As a result of the above, our net loss increased to $2,240,521 for the three months ended July 31, 2015 from $319,009 for the three months ended July 31, 2014.

Non-Controlling Interest in Loss of Consolidated Subsidiaries

Non-controlling interest in loss of consolidated subsidiaries increased to $463 for the three months ended July 31, 2015 from $253 for the three months ended July 31, 2014.

Net Loss Attributable to the Company

Net loss attributable to the Company increased to $2,240,058 for the three months ended July 31, 2015 from $318,756 for the three months ended July 31, 2014.

Liquidity and Capital Resources

Introduction

As of July 31, 2015, we had current assets of $144 and current liabilities of $2,895,441, resulting in a working capital deficit of $2,895,297. In addition, we had a total stockholders’ deficit of $2,883,850 at July 31, 2015.

Because of our continuing operating losses, we have not generated positive operating cash flows. As a result, we have significant short-term cash needs. Our principal source of operating capital has been provided from private sales of our common stock and debt financing.

25

Table of Contents

During the three months ended July 31, 2015, financing of $15,000 was provided by common stock and warrant subscriptions in a private placement.

We have reduced our total indebtedness from $7,666,602 at April 30, 2015 to $2,895,441 at July 31, 2015. We have improved our liquidity through the conversion of preferred stock and accrued dividends and convertible notes payable to shares of our common stock. We have also entered into settlement agreements where certain officers and directors forgave accounts payable, accrued expenses and notes payable and contributed the amounts to capital.

Private Placement

In fiscal year 2016, we initiated a private placement of common stock and warrants to qualified investors for cash and services. Through the date of the filing of this report, $118,230 cash and $60,000 in services had been received, including $49,200 cash from related parties, for a total of 41,784,320 common shares of the Company and a total of 43,025,313 warrants. The warrants entitle the investors to purchase common shares at exercise prices of $0.0001 and $0.01 per share through March 1, 2022. Of the common shares issued, 1,096,397 shares were issued in July 2016, 27,740,123 shares were issued in December 2016 and 12,947,500 shares were issued in January 2017.

Settlement Agreement and Stipulation

Through the date of filing of this report, the Company’s creditors have received a total of $84,782 and the Company has repaid $56,100 through the issuance of the following shares of its common stock to RCP: 10,000,000 shares on November 3, 2016, 15,000,000 shares on November 4, 2016, 18,000,000 shares on November 10, 2016, 18,000,000 shares on November 16, 2016, 14,000,000 shares on November 21, 2016, 22,000,000 shares on November 28, 2016, 22,000,000 shares on November 30, 2016, 25,000,000 shares on December 5, 2016, 25,000,000 shares on December 7, 2016, 27,000,000 shares on January 4, 2017, 28,000,000 shares on January 6, 2017, 29,000,000 shares on January 10, 2017, 30,000,000 shares on January 11, 2017, 31,000,000 shares on January 12, 2017, 33,000,000 shares on January 18, 2017, 34,000,000 shares on January 23, 2017, 35,000,000 shares on January 25, 2017 and 36,000,000 shares on January 26, 2017.

26

Table of Contents

Future Financing Needs

As we attempt to expand exploration activities and develop our international operations, we expect to continue to experience net negative cash flows from operations in amounts not now determinable, and will be required to obtain additional financing to fund operations through common stock offerings, preferred stock offerings, and debt borrowings to the extent necessary to provide working capital. We have and expect to continue to have substantial capital expenditure and working capital needs. We recently completed a private placement We do not now have funds sufficient to fund our operations at their current level for the next twelve months. We need to raise additional cash to fund our operations and implement our business plan. We expect that the additional financing will (if available) take the form of a private placement of equity, although we may be constrained to obtain additional debt financing in lieu thereof. We are maintaining an on-going effort to locate sources of additional funding, without which we will not be able to remain a viable entity. No financing arrangements are currently under contract, and there are no assurances that we will be able to obtain adequate financing. If we are able to obtain the financing required to remain in business, eventually achieving operating profits will require commencement of operations to generate revenues or drastically reducing expenses from their current levels or both. If we are able to obtain the required financing to remain in business, future operating results depend upon a number of factors that are outside of our control.

Sources and Uses of Cash

We used net cash of $14,997 in operating activities for the three months ended July 31, 2015 as a result of our net loss attributable to the Company of $2,240,058 and non-controlling interest in net loss of $463, partially offset by non-cash expenses totaling $2,102,726 and increases in accounts payable of $1,732 and accrued expenses of $121,066.

By comparison, we used net cash of $10,293 in operating activities for the three months ended July 31, 2014 as a result of our net loss attributable to the Company of $318,756 and non-controlling interest in net loss of $253, partially offset by non-cash expenses totaling $57,612 and increases in accounts payable of $1,601 and accrued expenses of $249,503.

We had no net cash provided by or used in investing activities for the three months ended July 31, 2015 and 2014.

We had net cash provided by financing activities of $15,000 for the three months ended July 31, 2015 from proceeds from common stock payable. We had net cash provided by financing activities of $10,000 for the three months ended July 31, 2014 from proceeds from debt.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Critical Accounting Policies

For further information on our significant accounting policies see the notes to our condensed consolidated financial statements included in this filing. Other than accounting policies for derivatives and related fair value disclosures that were added in the current fiscal year, there have been no changes to our significant accounting policies.

27

Table of Contents

Derivative liabilities

Fair value of financial instruments

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

28

Table of Contents

Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows at July 31, 2015:

Total

Level 1

Level 2

Level 3

Derivative liability

$ 303,830

$ -

$ -

$ 303,830

The following describes the general application of accounting principles that impact our condensed consolidated financial statements.

Our results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including those related to inventories, investments, intangible assets, income taxes, financing operations, and contingencies and litigation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

ITEM 3 Quantitative and Qualitative Disclosures About Market Risk

As a smaller reporting company, we are not required to provide the information required by this Item.

ITEM 4 Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of our disclosure controls and procedures (as defined) in Exchange Act Rules 13a – 15(c) and 15d – 15(e). Based upon that evaluation, our principal executive officer and principal financial officer concluded that, as of the end of the period covered in this report, our disclosure controls and procedures were not effective to ensure that information required to be disclosed in reports filed under the Securities Exchange Act of 1934 (“Securities Exchange Act”) is recorded, processed, summarized and reported within the required time periods and is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

Our management, including our principal executive officer and principal financial officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error or fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. To address the material weaknesses, we performed additional analysis and other post-closing procedures in an effort to ensure our condensed consolidated financial statements included in this quarterly report have been prepared in accordance with generally accepted accounting principles. Accordingly, management believes that the financial statements included in this report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented.

29

Table of Contents

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Securities Exchange Act, as amended. Our management assessed the effectiveness of our internal control over financial reporting as of July 31, 2015. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in Internal Control-Integrated Framework. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis. We have identified the following material weaknesses:

· As of July 31, 2015, we did not maintain effective controls over the control environment. Specifically, the Board of Directors does not currently have any independent members and no director qualifies as an audit committee financial expert as defined in Item 407(d)(5)(ii) of Regulation S-B. Since these entity level programs have a pervasive effect across the organization, management has determined that these circumstances constitute a material weakness.

· As of July 31, 2015, we did not maintain effective controls over financial statement disclosure. Specifically, controls were not designed and in place to ensure that all disclosures required were originally addressed in our financial statements. Accordingly, management has determined that this control deficiency constitutes a material weakness.

Because of these material weaknesses, management has concluded that the Company did not maintain effective internal control over financial reporting as of July 31, 2015, based on the criteria established in "Internal Control-Integrated Framework" issued by the COSO.

(b) Changes in Internal Control over Financial Reporting

There was no change in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

30

Table of Contents

PART II – OTHER INFORMATION

ITEM 1 Legal Proceedings

We are not a party to or otherwise involved in any legal proceedings.

In the ordinary course of business, we are from time to time involved in various pending or threatened legal actions. The litigation process is inherently uncertain and it is possible that the resolution of such matters might have a material adverse effect upon our financial condition and/or results of operations. However, in the opinion of our management, other than as set forth herein, matters currently pending or threatened against us are not expected to have a material adverse effect on our financial position or results of operations.

ITEM 1A Risk Factors

As a smaller reporting company, we are not required to provide the information required by this Item.

ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds

During the three months ended July 31, 2015, we had no unregistered sales of equity securities:

ITEM 3 Defaults Upon Senior Securities

There is no information required to be disclosed by this Item.

ITEM 4 Mine Safety Disclosures

There is no information required to be disclosed by this Item.

ITEM 5 Other Information

There is no information required to be disclosed by this Item.

31

Table of Contents

ITEM 6 Exhibits

31.1*

Certification by Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a)

32.1*

Certification by Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS**

XBRL Instance Document

101.SCH**

XBRL Taxonomy Extension Schema Document

101.CAL**

XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF**

XBRL Taxonomy Extension Definition Linkbase Document

101.LAB**

XBRL Taxonomy Extension Label Linkbase Document

101.PRE**

XBRL Taxonomy Extension Presentation Linkbase Document

_______________

*

Filed herewith.

**

Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or Section 18 of the Securities Act of 1934 and otherwise are not subject to liability.

32

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

MMEX Resources Corporation

Dated: January 30, 2017

By:

/s/ Jack W. Hanks

Jack W. Hanks

Chief Executive Officer (Principal Executive Officer),
President and Chief Financial Officer
(Principal Financial and Accounting Officer)

EX-31.1 2 mmex_ex311.htm CERTIFICATION mmex_ex311.htm

EXHIBIT 31.1

Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer and Chief Financial Officer

I, Jack W. Hanks, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of MMEX Resources Corporation.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exhibit Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: January 30, 2017

By:

/s/ Jack W. Hanks

Jack W. Hanks

Chief Executive Officer and Chief Financial Officer

EX-32.1 3 mmex_ex321.htm CERTIFICATION mmex_ex321.htm

EXHIBIT 32.1

CERTIFICATION PURSUANT TO 18 USC, SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of MMEX Resources Corporation (the “Company”) on Form 10-Q for the quarter ended July 31, 2015, as filed with the Securities and Exchange Commission on or about the date hereof (the “Report”), I, Jack W. Hanks, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Sections 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) Information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: January 30, 2017

By:

/s/ Jack W. Hanks

Jack W. Hanks

Chief Executive Officer and Chief Financial Officer

A signed original of this written statement required by Section 906 has been provided to MMEX Resources Corporation and will be retained by MMEX Resources Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

EX-101.INS 4 mmex-20150731.xml XBRL INSTANCE DOCUMENT 0001440799 2015-05-01 2015-07-31 0001440799 2016-04-30 0001440799 2015-04-30 0001440799 2014-05-01 2014-07-31 0001440799 mmex:MccMergerIncMember 2015-05-01 2015-07-31 0001440799 mmex:MapleCarpenterCreekHoldingsIncMember 2015-05-01 2015-07-31 0001440799 mmex:MapleCarpenterCreekLlcMember 2015-05-01 2015-07-31 0001440799 mmex:CarpenterCreekLlcMember 2015-05-01 2015-07-31 0001440799 mmex:ArmadilloHoldingsGroupCorpMember 2015-05-01 2015-07-31 0001440799 mmex:ArmadilloMiningCorpMember 2015-05-01 2015-07-31 0001440799 mmex:MmexResourcesCorporatioMember 2015-05-01 2015-07-31 0001440799 us-gaap:FairValueInputsLevel1Member 2015-07-31 0001440799 us-gaap:FairValueInputsLevel2Member 2015-07-31 0001440799 us-gaap:FairValueInputsLevel3Member 2015-07-31 0001440799 mmex:AccruedCompensationMember mmex:HanksMember 2016-07-31 0001440799 us-gaap:AccountsPayableMember mmex:HanksMember 2015-07-31 0001440799 mmex:NotesPayableMember mmex:HanksMember 2015-07-31 0001440799 mmex:AccruedInterestPayableMember mmex:HanksMember 2015-07-31 0001440799 mmex:AccruedConsultingFeesMember mmex:LemonsMember 2015-07-31 0001440799 mmex:NotesPayableMember mmex:LemonsMember 2015-07-31 0001440799 mmex:AccruedInterestPayableMember mmex:LemonsMember 2015-07-31 0001440799 us-gaap:AccountsPayableMember mmex:KatabiMember 2015-07-31 0001440799 mmex:AccruedConsultingFeesMember mmex:KatabiMember 2015-07-31 0001440799 mmex:NotesPayableMember mmex:KatabiMember 2015-07-31 0001440799 mmex:AccruedInterestPayableMember mmex:KatabiMember 2015-07-31 0001440799 mmex:NotePayabletoBNLFamilyPartnersLLCMember 2015-04-30 0001440799 mmex:NotePayabletoBNLFamilyPartnersLLCOneMember 2015-04-30 0001440799 mmex:NotePayabletoDelavegaTradingLtdMember 2015-04-30 0001440799 mmex:NotePayabletoMapleGasCorporationMember 2015-04-30 0001440799 2015-07-31 0001440799 mmex:NotePayabletoBNLFamilyPartnersLLCMember 2014-06-20 0001440799 mmex:NotePayabletoBNLFamilyPartnersLLCMember 2015-07-31 0001440799 mmex:NotePayabletoBNLFamilyPartnersLLCMember 2012-09-15 0001440799 mmex:JackWHanksMember 2010-09-04 0001440799 mmex:LemonsMember 2010-09-04 0001440799 mmex:DelavegaTradingLtdConvertibleNotesMember 2012-08-01 0001440799 mmex:DelavegaTradingLtdConvertibleNotesMember 2012-12-17 0001440799 mmex:DelavegaTradingLtdConvertibleNotesMember 2015-07-31 0001440799 mmex:MapleGasAdvancesMember 2014-04-30 0001440799 mmex:MapleGasAdvancesMember 2014-10-09 0001440799 mmex:MapleGasAdvancesOneMember 2014-10-09 0001440799 mmex:MapleGasAdvancesTwoMember 2014-10-09 0001440799 mmex:MapleGasAdvancesMember 2015-05-18 0001440799 mmex:MapleGasAdvancesMember 2015-07-31 0001440799 mmex:AccruedPayrollMember 2015-07-31 0001440799 mmex:AccruedConsultingMember 2015-07-31 0001440799 mmex:AccruedDividendMember 2015-07-31 0001440799 mmex:AccruedInterestMember 2015-07-31 0001440799 us-gaap:OtherExpenseMember 2015-07-31 0001440799 mmex:AccruedPayrollMember 2015-04-30 0001440799 mmex:AccruedConsultingMember 2015-04-30 0001440799 mmex:AccruedDividendMember 2015-04-30 0001440799 mmex:AccruedInterestMember 2015-04-30 0001440799 us-gaap:OtherExpenseMember 2015-04-30 0001440799 mmex:NotePayableMember 2015-07-31 0001440799 mmex:NotePayableOneMember 2015-07-31 0001440799 mmex:NotePayableTwoMember 2015-07-31 0001440799 mmex:NotePayableMember 2015-04-30 0001440799 mmex:NotePayableOneMember 2015-04-30 0001440799 mmex:NotePayableTwoMember 2015-04-30 0001440799 us-gaap:ConvertibleNotesPayableMember 2015-07-31 0001440799 mmex:ConvertibleNotesPayableOneMember 2015-07-31 0001440799 mmex:ConvertibleNotesPayableTwoMember 2015-07-31 0001440799 mmex:ConvertibleNotesPayableThreeMember 2015-07-31 0001440799 mmex:ConvertibleNotesPayableFourMember 2015-07-31 0001440799 us-gaap:ConvertibleNotesPayableMember 2015-04-30 0001440799 mmex:ConvertibleNotesPayableOneMember 2015-04-30 0001440799 mmex:ConvertibleNotesPayableTwoMember 2015-04-30 0001440799 mmex:ConvertibleNotesPayableThreeMember 2015-04-30 0001440799 mmex:ConvertibleNotesPayableFourMember 2015-04-30 0001440799 us-gaap:ConvertibleNotesPayableMember 2013-01-02 0001440799 us-gaap:ConvertibleNotesPayableMember 2015-05-08 0001440799 us-gaap:ConvertibleNotesPayableMember 2014-10-09 0001440799 mmex:ConvertibleNotesPayableOneMember 2014-10-09 0001440799 mmex:ConvertibleNotesPayableTwoMember 2014-10-09 0001440799 us-gaap:ConvertibleNotesPayableMember 2013-02-01 0001440799 us-gaap:ConvertibleNotesPayableMember 2012-08-15 0001440799 us-gaap:ConvertibleNotesPayableMember 2012-04-25 0001440799 us-gaap:ConvertibleNotesPayableMember 2015-01-01 2015-01-02 0001440799 us-gaap:ConvertibleNotesPayableMember 2013-01-30 2013-02-01 0001440799 us-gaap:ConvertibleNotesPayableMember 2012-08-02 2012-08-15 0001440799 us-gaap:ConvertibleNotesPayableMember 2012-04-01 2012-04-25 0001440799 us-gaap:ConvertiblePreferredStockMember 2015-05-01 2015-07-31 0001440799 us-gaap:ConvertiblePreferredStockMember 2014-05-01 2014-07-31 0001440799 us-gaap:ConvertiblePreferredStockMember 2015-07-31 0001440799 us-gaap:ConvertiblePreferredStockMember 2015-04-30 0001440799 us-gaap:ConvertiblePreferredStockMember 2012-01-06 0001440799 us-gaap:ConvertiblePreferredStockMember 2011-06-30 0001440799 mmex:PreferredStockMandatoryRedemptionRightMember 2015-05-18 0001440799 mmex:PreferredStockMandatoryRedemptionRightMember 2014-10-07 0001440799 mmex:PreferredStockMandatoryRedemptionRightMember 2015-07-31 0001440799 mmex:PreferredStockMandatoryRedemptionRightMember 2015-04-30 0001440799 mmex:PreferredStockMandatoryRedemptionRightMember 2015-05-01 2015-07-31 0001440799 mmex:PreferredStockMandatoryRedemptionRightMember 2014-05-01 2014-07-31 0001440799 mmex:PreferredStockMandatoryRedemptionRightMember 2016-03-01 0001440799 mmex:PreferredStockMandatoryRedemptionRightMember 2011-03-22 0001440799 us-gaap:MinimumMember 2015-05-01 2016-04-30 0001440799 us-gaap:MaximumMember 2015-05-01 2016-04-30 0001440799 mmex:CommonStockPayableMember 2015-07-31 0001440799 mmex:CommonStockPayableMember 2015-05-08 0001440799 mmex:StockIssuancesMember 2015-05-18 0001440799 mmex:AHGCMember 2010-03-22 0001440799 mmex:AHGCMember 2010-12-21 0001440799 mmex:MCCHMember 2010-09-23 0001440799 mmex:MCCMember 2010-09-23 0001440799 mmex:CCMember 2010-09-23 0001440799 mmex:AHGCMember 2010-09-23 0001440799 mmex:AMCMember 2010-09-23 0001440799 2010-04-26 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-10-31 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-10-28 0001440799 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember 2017-01-13 0001440799 us-gaap:SubsequentEventMember us-gaap:ConvertibleNotesPayableMember 2016-05-02 0001440799 us-gaap:SubsequentEventMember mmex:AmendmentOfArticlesOfIncorporationMember 2016-11-29 0001440799 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember 2016-07-31 0001440799 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember 2016-12-31 0001440799 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember 2017-01-31 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-11-03 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-11-04 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-11-10 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-11-16 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-11-21 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-11-28 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-11-30 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-12-05 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2016-12-07 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-04 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-06 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-10 0001440799 us-gaap:WarrantMember 2015-04-30 0001440799 2014-04-30 0001440799 mmex:AuthorizedSharesMember 2015-07-31 0001440799 2012-03-07 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-11 0001440799 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember us-gaap:MinimumMember 2017-01-13 0001440799 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember us-gaap:MaximumMember 2017-01-13 0001440799 2017-01-30 0001440799 2014-07-31 0001440799 us-gaap:WarrantMember 2015-05-01 2015-07-31 0001440799 us-gaap:WarrantMember 2015-07-31 0001440799 mmex:AHGCMember 2012-04-30 0001440799 us-gaap:SubsequentEventMember mmex:AmendmentOfArticlesOfIncorporationMember 2016-04-06 0001440799 us-gaap:SubsequentEventMember us-gaap:ConvertibleNotesPayableMember 2015-11-10 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-12 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-18 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-23 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-25 0001440799 us-gaap:SubsequentEventMember us-gaap:EmployeeSeveranceMember 2017-01-24 0001440799 us-gaap:SubsequentEventMember mmex:ConsultantMember 2017-01-24 0001440799 us-gaap:SubsequentEventMember mmex:SettlementAgreementAndStipulationMember 2017-01-26 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure MMEX Resources Corp 0001440799 10-Q 2015-07-31 false --04-30 No No No Smaller Reporting Company 2016

141

144

118230

434

141

375000

300000

25000

50000

300000

25000

50000

57189

57150

1849256

90000 4879256 2925000 0 0

375600 0

0.001

0.10

0.015

1000000000

3000000000

57188313

57148313

123283700

57188313

57148313

420890

122530

420890

122530

375617

53861

375600

53848

100% 100% 80% 95% 100% 98.6% - Corporation Corporation LLC LLC Corporation Corporation Corporation State of Nevada Delaware Delaware Nevada Delaware British Virgin Isles British Virgin Isles Nevada Holding Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Parent

303830

5536

8033

883584

5901

791315

9320

375000

4065

2069185

39337

63530

27100

129967

53530

10000

27100

39337

2925000

1950000

31633 31633 900 2600 1300 2212721

300000

170000

10000

53530

4500

13000

6500

27100

39337

1650000

120000

180000

975000

0.15

0.20

0.15

0.025

0.20

0.025

0.01

1000000

150000

1000000

10000

4500

13000

6500

2925000

114 800 1292 549

0.05

0.30

57188313

194999999

25023

22690

23576

3577009

1218205

301359

292301

562004

62541

1184943

1433616

410685

485224

62541

2145001

195001

120000

75001

1650000

120000

180000

120000

75001

245540

235227

86237

77630

1650000

120000

180000

120000 150000 100000 1500000

2013-03-01

2014-02-01

2013-10-31

2013-07-31

0.0187

0.20

0.10

30000

20000

150000

0.01 0.20 0.20 0.20 0.10475 1.25 0.01 0.40 0.20 150000 120000 360000 16103 14232 30000 16103 14232 0.20 0.30 195000000 975000 75328 438571 975000 438571 300000 900000 360000 1000000 360000 1000000 0.25 0.10 0.60 1.00 1000000 1000000 1000000 1000000 50000

8822

2500

410685

137500 137500

230227

213039

312500

410685

2983293 123283700 375600

303830

-3 0.0103 0.0249 1.00 1.03 2.49

2000000

32875345

2000000

2733794

0.35

0.33

0.35

0.06

1000000 1000000 410685 123283700 0.01 0.01 194999999 194999999

10000

1.00 1.00 0.80 0.95 0.9812 0.80 0.0188 31334 0.146

62541

60000 5725 49200 41784320 1096397 27740123 12947500 2082190 28625000 43025313 0.0001 0.01 109391 7000000 10000000 15000000 18000000 18000000 14000000 22000000 22000000 25000000 25000000 27000000 28000000 29000000 30000000 31000000 33000000 34000000 35000000 36000000 2500000 3289192 40000 39 0.015 Q1 906923522

21296

11591

-7645306

-2883850

-27633112

-29873170

-374781

-375244

20215398

22428158

7666602

2895441

624400

129950

303830

137500 137500

2145001

195001

2389957

37783

1187052

1180422

8033

669709

665905

21296

11591

10000

2333

1447

8963

144

8822

-0.04

-0.01

57188313

463

253

-2240521

-319009

-2240521

-319009

-2138291

-122530

-1413571

-102230

-196479

102230

196479

886

1251

101344

195228

149253 1950000 2063468

-39

114

-293

15000

10000

15000

-14997

-10293

121066

249503

1732

1601

1413571

303830

8822

2500

886

1251

-463

-253

-2240058

-318756

-1410685

MMEX Resources Corporation (the Company or MMEX) was formed in the State of Nevada on May 19, 2005 as Inkie Entertainment Group, Inc. Subsequently, the Company amended its articles of incorporation to change its name to MMEX Resources Corporation and to authorize the Company to issue up to 3,000,000,000 common shares and 10,000,000 preferred shares. The changes in the number of authorized shares of the Company have been given retroactive effect in the accompanying consolidated financial statements.   The Board of Directors of the Company has decided to focus efforts on the oil, gas, refining and electric power business in the United States and Latin America.   The accompanying condensed consolidated financial statements include the accounts of the following entities, all of which the Company maintains control through a majority ownership:    <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr> <td style="vertical-align: bottom; border-bottom: black 1pt solid"> Name of Entity </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="hdcell" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center">Form of Entity</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center">State of Incorporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"> Relationship</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">MMEX Resources Corporation (MMEX)</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 2%; text-align: justify"> </td> <td style="width: 13%; text-align: justify">Corporation</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="width: 13%; text-align: justify">Nevada</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="width: 13%; text-align: justify">Parent</td> <td style="width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">MCC Merger, Inc. (MCCM)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">100</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Corporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Delaware</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Holding Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Maple Carpenter Creek Holdings, Inc. (MCCH)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">100</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Corporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Delaware</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Maple Carpenter Creek, LLC (MCC)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">80</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">LLC</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Nevada</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Carpenter Creek, LLC (CC)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">95</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">LLC</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Delaware</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Armadillo Holdings Group Corp. (AHGC)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">100</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Corporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">British Virgin Isles</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Armadillo Mining Corp. (AMC)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">98.6</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Corporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">British Virgin Isles</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> </table>   All significant inter-company transactions have been eliminated in the preparation of the consolidated financial statements.   These financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for a fair presentation of the information contained therein.   The Company has adopted a fiscal year end of April 30.

Our significant accounting policies are described in our Annual Report on Form 10-K for the year ended April 30, 2015 filed with the SEC on July 11, 2016.   Use of Estimates   The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.   Derivative liabilities   In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives. We estimate the fair value of the derivatives using multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility and managements estimates of various potential equity financing transactions. These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.   Fair value of financial instruments   Under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures, and ASC 825, Financial Instruments, the FASB establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. This Statement reaffirms that fair value is the relevant measurement attribute. The adoption of this standard did not have a material effect on the Company's financial statements as reflected herein. The carrying amounts of cash, accounts payable, accrued expenses and notes reported on the accompanying consolidated balance sheets are estimated by management to approximate fair value primarily due to the short-term nature of the instruments.   An entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value using a hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instruments categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy prioritized the inputs into three levels that may be used to measure fair value:   Level 1   Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.   Level 2   Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in markets that are not active.   Level 3   Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.   Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows at July 31, 2015:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center">Total</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center">Level 1</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center">Level 2</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center">Level 3</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 330px; text-align: justify">Derivative liability</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">$</td> <td style="vertical-align: bottom; text-align: right">303,830</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">$</td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">$</td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">$</td> <td style="vertical-align: bottom; text-align: right">303,830</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> </table>   Basic and diluted loss per share   Basic net income or loss per share is calculated by dividing net income or loss (available to common stockholders) by the weighted average number of common shares outstanding for the period. Diluted income or loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, warrants, convertible debt and convertible preferred stock, were exercised or converted into common stock. For the three months ended July 31, 2015 and 2014, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share; therefore, basic net loss per share is the same as diluted net loss per share.   Issuance of shares for non-cash consideration   The Company accounts for the issuance of equity instruments to acquire goods and/or services based on the fair value of the goods and services or the fair value of the equity instrument at the time of issuance, whichever is more reliably determinable. The Company's accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows the provisions of the standards issued by the FASB. The measurement date for the fair value of the equity instruments issued is determined as the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor's performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement.   Reclassifications   Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation.   Recently Issued Accounting Pronouncements   In October 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-17, Consolidation (Topic 810): Interests Held Through Related Parties That are Under Common Control. This update amends the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (VIE) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The primary beneficiary of a VIE is the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.   In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.   In March 2016, the FASB issued ASU No. 2016-09, "Stock Compensation (Topic 718)", which is intended to simplify several aspects of the accounting for share-based payment award transactions, including the income tax impacts, the classification on the statement of cash flows, and forfeitures. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.   In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)". The amendments in this ASU revise the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases. The new lease guidance also simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2018 and are to be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.   Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations.

Our financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplate the realization of assets and liquidation of liabilities in the normal course of business. We have incurred continuous losses from operations, have an accumulated deficit of $29,873,170 and a total stockholders deficit of $2,883,850 at July 31, 2015, and have reported negative cash flows from operations since inception. In addition, we do not currently have the cash resources to meet our operating commitments for the next twelve months, and we expect to have ongoing requirements for capital investment to implement our business plan. Finally, our ability to continue as a going concern must be considered in light of the problems, expenses and complications frequently encountered by entrance into established markets and the competitive environment in which we operate.   Since inception, our operations have primarily been funded through private debt and equity financing, as well as capital contributions by our subsidiaries' partners, and we expect to continue to seek additional funding through private or public equity and debt financing.   Our ability to continue as a going concern is dependent on our ability to generate sufficient cash from operations to meet our cash needs and/or to raise funds to finance ongoing operations and repay debt. However, there can be no assurance that we will be successful in our efforts to raise additional debt or equity capital and/or that our cash generated by our operations will be adequate to meet our needs. These factors, among others, indicate that we may be unable to continue as a going concern for a reasonable period of time.   The financial statements do not include any adjustments that might result from the outcome of any uncertainty as to the Company's ability to continue as a going concern. The financial statements also do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

During the past few years, Tydus Richards, the former Chairman of our board of directors and shareholder, made certain payments on behalf of the Company. The Company has partially reimbursed Mr. Richards for these advances. As of July 31, 2015 and April 30, 2015, a remaining balance payable of $31,633 is included in accrued expenses related party.   On May 18, 2015, Jack W. Hanks, Bruce N. Lemons and Nabil Katabi, the then three directors of the Company and certain companies under their control, entered an agreement to forgive the following indebtedness from the Company totaling $2,212,721 as of April 30, 2015 and contribute the amounts to capital.   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">Accounts Payable</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Accounts Payable Related Party</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Accrued Expenses</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Notes Payable</td> <td style="text-align: justify"> </td></tr> <tr> <td style="vertical-align: top; text-align: justify">Hanks:</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued compensation</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">883,584</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accounts payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">8,033</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Notes payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">39,337</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued interest payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">5,901</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Lemons:</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued consulting fees</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">791,315</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Notes payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">63,530</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued interest payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">9,320</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Katabi:</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accounts payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">5,536</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued consulting fees</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">375,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Notes payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">27,100</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued interest payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">4,065</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Total</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">5,536</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">8,033</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">2,069,185</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">129,967</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>     On September 4, 2010, MCCH entered an employment agreement with the Company's CEO, Jack W. Hanks, for a two-year term, automatically renewable for one-year terms thereafter, at an annual compensation of $300,000 per year. The agreement was cancelled effective May 1, 2015.   On September 4, 2010, MCCH entered a consulting agreement with Bruce N. Lemons, one of the Company's two directors, for a two-year term, automatically renewable for one-year terms thereafter, at an annual compensation of $170,000 per year. The agreement was cancelled effective May 1, 2015.   Accrued expenses (see Note 6) to related parties totaled $37,783 and $2,389,957 as of July 31, 2015 and April 30, 2015, respectively.   The convertible notes payable related party that were forgiven and contributed to capital consisted of the following at April 30, 2015:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-align: justify">Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%">$</td> <td style="width: 9%; text-align: right"> 53,530</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, maturing June 30, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">10,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Note payable to Delavega Trading Ltd., controlled by Nabil Katabi, maturing June 20, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.25 per share</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">27,100</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Note payable to The Maple Gas Corporation, owned by Jack W. Hanks, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">39,337</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Total</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">129,967</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>   BNL Family Partners Convertible Notes   On September 15, 2012, the Corporation entered into a $4,500 convertible note agreement with BNL Family Partners, Ltd., a related party. Mr. Bruce N. Lemons, a director of the Corporation, is a partner of BNL Family Partners. The note carries a 20% interest rate until maturity at September 30, 2013 and is convertible into common shares of the Company at the holder's option at $0.20 per share. The holder may accelerate repayment of the promissory notes upon the Company raising additional capital of $150,000. The computed interest of $900 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 4,500 warrants valued at $800 using the Black-Scholes option pricing model. The value of the warrants of $800 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.30 per common share until September 15, 2015.   Subsequently, the Company converted the note payable described above and additional advances from BNL Family Partners into a single $53,530 convertible note agreement with BNL Family Partners. The holder may accelerate repayment of the promissory note upon the Corporation raising additional capital of $1,000,000. The holder may also convert the note into common shares of the Company at the holder's option at $0.025 per Common Share. As the conversion option is above the value of the stock on the date of conversion, no beneficial conversion feature was recorded with this note.   On June 20, 2014, the Company entered into a $10,000 convertible note agreement with BNL Family Partners. The note carries a 15% interest rate until maturity on June 20, 2015 and is convertible into common shares at the holder's option at $0.025 per common share. The Company issued 10,000 warrants valued at $114 using the Black-Scholes option pricing model. The value of the warrants of $114 was recorded as an increase to debt discount and to additional paid-in capital. The warrants are exercisable at an exercise price of $0.05 per common share until June 30, 2017.   On May 18, 2015, the two BNL Family Partners notes were forgiven and contributed to capital.   Delavega Trading Ltd. Convertible Notes   On August 1, 2012, the Company entered into a $13,000 convertible note agreement with Delavega Trading Ltd., a related party. Mr. Nabil Katabi, a former director of the Company, is a control person of Delavega Trading Ltd. The note carries a 20% interest rate until maturity at September 30, 2013 and is convertible into common shares of the Company at the holder's option at $0.20 per common share. The computed interest of $2,600 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 13,000 warrants valued at $1,292 using the Black-Scholes option pricing model. The value of the warrants of $1,292 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.30 per common share until August 1, 2015.   On December 17, 2012, the Company entered into a $6,500 convertible note agreement with Delavega Trading Ltd. The note carries a 20% interest rate until maturity at December 17, 2013 and is convertible into common shares of the Company at the holder's option at $0.20 per common share. The computed interest of $1,300 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 6,500 warrants valued at $549 using the Black-Scholes option pricing model. The value of the warrants of $549 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.30 per common share until December 17, 2015.   Subsequently, the Company converted the notes payable described above and associated accrued interest and additional advances from Delavega Trading Ltd. into a single $27,100 convertible note agreement with Delavega Trading Ltd. The holder may accelerate repayment of the promissory note upon the Company raising additional capital of $1,000,000. The holder may also convert the note into common shares of the Company at the holder's option at $0.025 per Common Share. As the conversion option was above the value of the stock on the date of conversion, no beneficial conversion feature was recorded with this note.   On May 18, 2015, the Delavega Trading Ltd. note was forgiven and contributed to capital.   Maple Gas Convertible Notes   During the year ended April 30, 2014, The Maple Gas Corporation, a related party owned by Mr. Jack W. Hanks, a director and officer of the Company, advanced funds or incurred expenses on behalf of the Company. On April 30, 2014, the Company entered into a $39,337 convertible note agreement with Maple Gas Corporation for the total advances to that date. The note carries a 15% interest rate. The holder may accelerate repayment of the promissory note upon the Company raising additional capital of $1,000,000. The holder may also convert the note into common shares of the Company at the holder's option at $0.025 per common share. As the conversion option was above the value of the stock on the date of conversion, no beneficial conversion feature was recorded with this note.   On May 18, 2015, the Maple Gas Corporation note was forgiven and contributed to capital.   On October 9, 2014, convertible notes payable in default to an accredited investor of $1,650,000, $120,000 and $180,000 (see Note 7) were assigned to The Maple Gas Corporation. On May 8, 2015, The Maple Gas Corporation converted the notes into 194,999,999 common shares of the Company at $0.01 per share, which resulted in a loss on extinguishment of debt of $975,000. The issuance of the common shares to Maple Structure Holdings was approved by the Companys Board of Directors Resolution dated May 18, 2015. The shares were issued subsequent to July 31, 2015 (see Note 14). At July 31, 2015, common stock payable included an obligation of $2,925,000 for the issuance of the shares

Property and equipment consisted of the following at:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">July 31, 2015</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">April 30, 2015</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Computer software and hardware</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">25,023</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">25,023</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Less accumulated depreciation and amortization</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">(23,576</td> <td style="vertical-align: bottom; text-align: justify">)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">(22,690</td> <td style="vertical-align: bottom; text-align: justify">)</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">1,447</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">2,333</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>   Depreciation and amortization expense totaled $886 and $1,251 for the three months ended July 31, 2015 and 2014, respectively.

Accrued expenses consisted of the following at:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">July 31, 2015</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">April 30, 2015</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Accrued payroll</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">301,359</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">1,184,943</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Accrued consulting</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">292,301</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">1,433,616</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Accrued dividend</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">410,685</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Accrued interest</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">562,004</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">485,224</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Other</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">62,541</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">62,541</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">1,218,205</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">3,577,009</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>

Notes payable, currently in default, consist of the following at:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">July 31, 2015</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">April 30, 2015</td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="text-align: center"> </td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-align: justify">Note payable to an unrelated party, maturing July 15, 2010, with interest at 10%</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%">$</td> <td style="width: 9%; text-align: right">300,000</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%">$</td> <td style="width: 9%; text-align: right">300,000</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Note payable to an unrelated party, maturing December 31, 2010, with interest at 10%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td id="ffcell" style="vertical-align: bottom; text-align: right">25,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">25,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Note payable to an unrelated party, maturing January 27, 2012, with interest at 25%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">50,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">50,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">375,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">375,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>   Accrued interest payable on notes payable, currently in default, totaled $245,540 and $235,227 at July 31, 2015 and April 30, 2015, respectively.   Convertible notes payable, currently in default, consist of the following at:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">July 31, 2015</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">April 30, 2015</td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="text-align: center"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Note payable to an accredited investor, maturing July 31, 2013, with interest at 10%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, secured with 2,995,000 common shares of the Company, converted to common stock in May 2015</td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 1%"> $</td> <td style="width: 9%; text-align: right">-</td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 1%"> $</td> <td style="width: 9%; text-align: right">1,650,000</td> <td style="width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top">Note payable to an accredited investor, maturing October 31, 2013, with interest at 20%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">120,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">Note payable to an accredited investor, maturing February 1, 2014, with interest at 20%, convertible upon default at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">180,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top">Note payable to an accredited investor, maturing March 1, 2013, with interest at 1.87% per month, secured with 900,000 common shares of the Company owned by the president and CEO of the Company</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">120,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">120,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">Note payable to an unrelated party, maturing March 18, 2014, with interest at 10%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">75,001</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">75,001</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Total</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">195,001</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">2,145,001</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Less discount</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Net</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">195,001</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">2,145,001</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>   Accrued interest payable on convertible notes payable, currently in default, totaled $86,237 and $77,630 at July 31, 2015 and April 30, 2015, respectively.   On April 25, 2012, four prior convertible notes payable to an accredited investor were combined into a new $1,500,000 note. The note was due and payable on July 31, 2013. The note bore interest at 10% due at maturity. The computed interest of $150,000 was added to the balance of the note and recorded as additional debt discount. The note was convertible at the option of the holder into shares of the Companys common stock at a fixed conversion price of $0.20 per share.   On August 15, 2012, the Company entered into a $100,000 convertible note agreement with an accredited investor. The note was subject to a 20% placement fee payable to the holder irrespective of the date redeemed, matured on October 31, 2013 and was convertible at the option of the holder into shares of the Companys common stock at a fixed conversion price of $0.20 per share. The computed interest of $20,000 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 120,000 warrants valued at $14,232 using the Black-Scholes option pricing model. The value of the warrants of $14,232 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.30 per common share until August 15, 2015.   On February 1, 2013, the Company entered into a $150,000 convertible note agreement with an unrelated party. The note was due and payable on February 1, 2014 and carried an interest rate of 20%. The note was convertible upon default at the option of the holder into shares of the Companys common stock at a fixed conversion price of $0.20 per share. The computed interest of $30,000 was added to the balance of the note and recorded as additional debt discount. In addition, the Company issued 150,000 warrants valued at $16,103 using the Black-Scholes option pricing model. The value of the warrants of $16,103 was recorded as an increase to debt discount and to additional paid-in capital. The warrants were exercisable at an exercise price of $0.20 per common share on or before three years from the repayment or conversion date.   On October 9, 2014, the convertible notes payable in default of $1,650,000, $120,000 and $180,000 were assigned to The Maple Gas Corporation, a company owned by Jack W. Hanks, the Companys President and CEO. On May 8, 2015, The Maple Gas Corporation converted the notes into 195,000,000 common shares of the Company at $0.01 per share, which resulted in a loss on extinguishment of debt of $975,000. The issuance of the common shares to Maple Structure Holdings was approved by the Companys Board of Directors Resolution dated May 18, 2015, and common stock payable at July 31, 2015 included an obligation of $2,925,000 for the issuance of the shares. See Note 13.   On January 2, 2013, the Company closed a note purchase agreement with an accredited investor pursuant to which the Company sold a $120,000 note in a private placement transaction. The note was due and payable on March 1, 2013, is currently in default and carries a monthly interest rate of 1.87%. The note purchase agreement included the issuance of 300,000 shares of the Companys common stock. The note is secured with 900,000 shares of the Companys common stock owned by Jack W. Hanks, the Companys President and CEO. The 300,000 shares were valued at $0.10 per share, the closing price of the Companys common stock on January 2, 2013, and recorded as a $30,000 increase to debt discount and an increase to common stock payable.   The Company allocated the proceeds from the issuance of the notes to the warrants when applicable and to the notes based on their estimated fair market values at the date of issuance using the Black-Scholes option pricing model. The debt discount resulting from interest and the value of warrants computed at the inception of the notes payable was amortized as additional interest expense over the term of the notes.

Preferred Stock Mandatory Redemption Right   On March 22, 2011, the Company issued 1,000,000 shares of Series A Preferred Stock (the Preferred Stock) to William D. Gross, an unrelated party, in exchange for an investment of $1,000,000. The shares may be converted into the Companys common shares at $0.40 per common share. The Preferred Stock carry a 10% cumulative dividend and have a mandatory redemption feature on the earlier of March 1, 2016 or on a change of control transaction. The Company is required to redeem the shares at a liquidation value of $1.00 per share plus any accrued and unpaid dividends. Due to the mandatory redemption feature, the Company recorded the investment as a liability under ASC Subtopic 480-10.   The Company recorded the intrinsic value of the beneficial conversion of $1,000,000 as debt discount and has amortized the discount through the mandatory redemption feature date of March 1, 2016. During the three months ended July 31, 2015 and 2014, amortization of debt discount to interest expense totaled $375,600 and $53,848, respectively. The investment is collateralized with a security interest in 2,500,000 shares of the Companys common stock.   Loan costs of $50,000 incurred on the issuance of the Preferred Stock were recorded as deferred loan costs and have been amortized by the effective interest method. The Company recorded amortization of deferred loan costs in the amount of $8,822 and $2,500 for the three months ended July 31, 2015 and 2014, respectively. Unpaid dividends payable on the Preferred Stock totaled $0 and $410,685 at July 31, 2015 and April 30, 2015, respectively.   On October 7, 2014, The Company transferred the 1,000,000 Preferred Shares from Mr. Gross to Maple Structure Holdings, LLC, a related party controlled by Mr. Jack W. Hanks, a director and officer of the Company.   On May 18, 2015, Maple Structure Holdings converted the 1,000,000 Preferred Shares with a book value of $1,000,000 and accrued dividends of $410,685 into 123,283,700 common shares of the Company at $0.01 per share, which resulted in a loss on extinguishment of debt of $438,571. The unamortized discount on the Preferred Shares of $375,600 was charged to interest expense. The issuance of the common shares to Maple Structure Holdings was approved by the Companys Board of Directors Resolution dated May 18, 2015.   Convertible Preferred Stock, Currently in Default   On June 30, 2011, the Company issued 360,000 shares of Armadillo Mining Corporation Preferred Stock to five unrelated parties in exchange for an investment of $360,000. The Preferred Stock carry a 25% cumulative dividend and have a mandatory redemption feature on December 31, 2011 at a price of $1.25 per share. In addition, the Company issued 360,000 warrants to purchase shares of the Companys common stock at an exercise price of $0.60 per share on or before three years from the repayment or conversion date.   On January 6, 2012, three unrelated parties converted their Preferred Stock and accrued dividends of $312,500 into 2,983,293 shares of the Companys common stock at a price of $.10475 per share. As the conversion took place at below the market price and not within the terms of the agreement on the date of conversion, a loss of $75,328 was recorded. As of July 31, 2015 and April 30, 2015, the remaining face value of the Preferred Stock was $137,500. Accrued dividends on the Preferred Stock totaled $230,227 and $213,039 as of July 31, 2015 and April 30, 2015, respectively.   The Company recorded interest expense, which includes amortization of debt discount on certain debt described above, totaling $420,890 and $122,530 for the three months ended July 31, 2015 and 2014, respectively.

In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives.   During the three months ended July 31, 2015, we had the following activity in our derivative liabilities:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Balance, April 30, 2015</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Increases in derivative value due to new issuances of notes</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">303,833</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Change in fair value of derivative liabilities</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">(3</td> <td style="vertical-align: bottom; text-align: justify">)</td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Balance, July 31, 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">303,830</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>   The Company calculated the fair value of the derivatives using a multinomial lattice model simulation. The model is based on a probability weighted discounted cash flow model using projections of the various potential outcomes.   Key inputs and assumptions used in valuing the Companys derivative liabilities are as follows for issuances of warrants:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr> <td style="width: 4%"> </td> <td style="vertical-align: top; width: 4%; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Stock prices on all measurement dates were based on the fair market value</td></tr> <tr> <td> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Risk-free interest rates ranging from 1.03% 2.49%</td></tr> <tr> <td> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">The probability of future financing was estimated at 100%</td></tr> <tr> <td> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Computed volatility ranging from 103% to 249%</td></tr> </table>   These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.

Authorized Shares   Pursuant to amendments to its articles of incorporation (Note 13), the Company increased its authorized shares to 3,000,000,000 common shares and 10,000,000 preferred shares. The increase in authorized shares has been given retroactive effect in the accompanying condensed consolidated financial statements for all periods presented.   Adjustment to Outstanding Shares   During the three months ended July 31, 2015, the Company cancelled 40,000 outstanding shares of its common stock, resulting in a decrease to common stock and an increase to additional paid-in capital of $39.   Stock Issuances   During the three months ended July 31, 2015, the Company did not issue any shares of its common or preferred stock.   Common Stock Payable   On May 8, 2015, a related party converted convertible notes payable with a book value of $1,950,000 into 194,999,999 common shares of the Company at $0.01 per share. The common shares issued were valued at $0.015 per share, the market price on the date of the conversion, which resulted in a loss on extinguishment of debt of $975,000. The common shares were issued subsequent to July 31, 2015, and common stock payable included $2,925,000 at July 31, 2015 related to this transaction.   On May 18, 2015, a related party converted 1,000,000 Preferred Shares with a book value of $1,000,000 and accrued dividends of $410,685 into 123,283,700 common shares of the Company at $0.01 per share. The common shares issued were valued at $0.015 per share, the market price on the date of the conversion, which resulted in a loss on extinguishment of debt of $438,571. The common shares were issued subsequent to July 31, 2015, and common stock payable included $1,849,256 at July 31, 2015 related to this transaction.   During the three months ended July 31, 2015, the Company completed subscription agreements for common stock and warrants with qualified investors in a private placement for cash of $15,000. The shares of common stock were issued subsequent to July 31, 2015, and common stock payable included $15,000 at July 31, 2015 related to these transactions. The attached warrants were identified as derivatives, resulting in derivative liabilities of $303,830 at July 31, 2015 (see Note 9).   Stock Options   On March 7, 2012, the Company issued a total of 2,000,000 stock options exercisable at $0.35 per share for a period of ten years from the date of grant. The Company did not grant any stock options during the three months ended July 31, 2015.   A summary of stock option activity during the three months ended July 31, 2015 is presented below:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">Shares</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> Weighted Average Exercise Price</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> Weighted Average Remaining Contractual Life (Years)</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Outstanding, April 30, 2015</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">2,000,000</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">0.35</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">6.85</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Granted</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Canceled / Expired</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Exercised</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Outstanding, July 31, 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">2,000,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">0.35</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">6.61</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>   The Company uses the Black-Scholes option pricing model to estimate the grant date fair value of its stock options, which value is amortized to stock-based compensation expense over the vesting period of the options. No stock-based compensation expense was recorded during the three months ended July 31, 2015 and 2014 related to stock option grants. There was no unrecognized stock option expense at July 31, 2015.   Warrants   The Company has issued warrants to non-employees for debt discounts, equity financing or other stock-based compensation. These warrants generally vest upon grant and are valued using the Black-Scholes option pricing model or multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes.   A summary of warrant activity during the three months ended July 31, 2015 is presented below:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Shares</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> Weighted Average Exercise Price</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> Weighted Average Remaining Contractual Life (Years)</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Outstanding, April 30, 2015</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">32,875,345</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">0.33</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">.42</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Granted</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">2,192,794</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">$</td> <td style="vertical-align: bottom; text-align: right">0.01</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Canceled / Expired</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">(32,334,345</td> <td style="vertical-align: bottom; text-align: justify">)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">$</td> <td style="vertical-align: bottom; text-align: right">0.33</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Exercised</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Outstanding, July 31, 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">2,733,794</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">0.06</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">5.34</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>   Common Stock Reserved   At July 31, 2015, 2,733,794 shares of the Companys common stock were reserved for issuance of outstanding warrants.

On September 23, 2010, the Company, through a reverse merger, acquired 100% of the outstanding shares of Maple Carpenter Creek Holdings, Inc., ("MCCH"), a holding Company, with an 80% interest in Maple Carpenter Creek, LLC ("MCC"), which in turn owned a 95% interest in the subsidiary, Carpenter Creek, LLC ("CC"), and a 98.12% interest in Armadillo Holdings Group Corp. ("AHGC"), which in turn owned an 80% interest in Armadillo Mining Corp. ("AMC"). The non-controlling interest of 1.88% in AHGC was acquired by MCCH on December 21, 2010 in exchange for 31,334 shares of the Companys common stock resulting in 100% ownership of AHGC. On March 22, 2011, AHGC acquired 14.6% of AMC and on April 30, 2012, an additional 4% interest for a total of 98.6% based upon agreement with the minority interest holder to reduce their interest based upon proportionate share of additional capital contributed to AMC.

Legal There were no legal proceedings against the Company.   Operating Lease Commitments   The Company acquired the Bolzer Lease pursuant to a September 23, 2010 merger. Subsequently, notice of termination on this lease effective April 26, 2010 was provided by previous management. The Company has recorded an accrued expense for the minimum lease payment of $62,541 for the January 2010 payment.

In accordance with ASC 855-10, all subsequent events have been reported through the filing date as set forth below.   Amendments of Articles of Incorporation   As of April 6, 2016, the Company amended its articles of incorporation to change its corporate name from MMEX Mining Corporation to MMEX Resources Corporation and to increase its authorized shares to 1,000,000,000 common shares and 10,000,000 preferred shares.   As of November 29, 2016, the Company amended its articles of incorporation to increase its authorized common shares to 3,000,000,000 shares.   Transfer of Coal Project   As of April 13, 2016, the Company assigned AMC to an irrevocable trust (the "Trust"), whose beneficiaries are the existing shareholders of MMEX. AMC through the Trust controls the Hunza coal interest previously owned by the Company.   On September 1, 2016, the Company entered into a stock assignment agreement with LatAm Services, LLC (LatAm) pursuant to which it assigned MCCH to LatAm. With the assignment of MCCH to LatAm, the Company has exited the Hunza coal project to focus on energy related projects under its new business plan.   Issuance of Common Shares for Conversion of Preferred Shares and Convertible Notes Payable   On November 10, 2015, the Company issued 123,283,700 of its common shares to a related party pursuant to the conversion of preferred stock and accrued dividends (Note 8).   On May 2, 2016, the Company issued a total of 194,999,999 shares of its common stock to a related party pursuant to the conversion of notes payable in default (see Note 7).   Private Placement   As the Company continues to expand its business and implement its business strategy, its current monthly cash flow requirements will exceed its near term cash flow from operations. In order to fund its development costs, the Company initiated in fiscal year 2016 a private placement to qualified investors for cash and services. Through the date of the filing of this report, $118,230 cash and $60,000 in services had been received, including $49,200 cash from related parties, for a total of 41,784,320 common shares of the Company and a total of 43,025,313 warrants. The warrants entitle the investors to purchase common shares at exercise prices of $0.0001 and $0.01 per share through March 1, 2022. Of the common shares issued, 1,096,397 shares were issued in July 2016, 27,740,123 shares were issued in December 2016 and 12,947,500 shares were issued in January 2017.   Settlement Agreement and Stipulation   On October 28, 2016, the Company entered into a Settlement Agreement and Stipulation (the Settlement Agreement) with Rockwell Capital Partners, Inc. (RCP). Pursuant to the Settlement Agreement, as amended, RCP has purchased certain outstanding payables between the Company and designated vendors totaling $109,391 (the Payables or Claims) and will exchange the portion of such Payables assigned for a Settlement Amount payable in common shares of the Company.   In settlement of the Claims, the Company shall issue and deliver to RCP, in one or more tranches as necessary, shares of the Companys common stock (Common Stock), subject to adjustment and ownership limitations as set forth in the Settlement Agreement, sufficient to satisfy the Claims amount at a 50% discount to market based on the market price during the valuation period as defined in the Settlement Agreement. The Company also issued 7,000,000 shares of Common Stock as a settlement fee on October 31, 2016.   On October 28, 2016, a circuit court in Florida issued an order confirming the fairness of the terms of the Settlement Agreement within the meaning of exemption from registration provided by Section 3(a) (10) of the Securities Act of 1933.   The Company issued the following shares of its common stock to RCP in settlement of Claims: 10,000,000 shares on November 3, 2016, 15,000,000 shares on November 4, 2016, 18,000,000 shares on November 10, 2016, 18,000,000 shares on November 16, 2016, 14,000,000 shares on November 21, 2016, 22,000,000 shares on November 28, 2016, 22,000,000 shares on November 30, 2016, 25,000,000 shares on December 5, 2016, 25,000,000 shares on December 7, 2016, 27,000,000 shares on January 4, 2017, 28,000,000 shares on January 6, 2017, 29,000,000 shares on January 10, 2017, 30,000,000 shares on January 11, 2017, 31,000,000 shares on January 12, 2017, 33,000,000 shares on January 18, 2017, 34,000,000 shares on January 23, 2017, 35,000,000 shares on January 25, 2017 and 36,000,000 shares on January 26, 2017.   Other Subsequent Events   As of June 29, 2016, the Board of Directors executed a Board Resolution that the Directors of the Company may be two directors pursuant to the By-Laws of the Company. As of June 29, 2016, Nabil Katabi resigned as a director of the Company.   On January 24, 2017, the Company issued 2,082,190 shares of its common stock to a former employee in settlement of accrued salaries of $208,219.   On January 24, 2017, the Company issued 28,625,000 shares of its common stock to a consultant in payment of services valued at $5,725.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures, and ASC 825, Financial Instruments, the FASB establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. This Statement reaffirms that fair value is the relevant measurement attribute. The adoption of this standard did not have a material effect on the Company's financial statements as reflected herein. The carrying amounts of cash, accounts payable, accrued expenses and notes reported on the accompanying consolidated balance sheets are estimated by management to approximate fair value primarily due to the short-term nature of the instruments.   An entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value using a hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instruments categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy prioritized the inputs into three levels that may be used to measure fair value:   Level 1   Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.   Level 2   Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in markets that are not active.   Level 3   Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.   Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows at July 31, 2015:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center">Total</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center">Level 1</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center">Level 2</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center">Level 3</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Derivative liability</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">303,830</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">303,830</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> </table>

In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives. We estimate the fair value of the derivatives using multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility and managements estimates of various potential equity financing transactions. These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.

Basic net income or loss per share is calculated by dividing net income or loss (available to common stockholders) by the weighted average number of common shares outstanding for the period. Diluted income or loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, warrants, convertible debt and convertible preferred stock, were exercised or converted into common stock. For the three months ended July 31, 2015 and 2014, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share; therefore, basic net loss per share is the same as diluted net loss per share.

The Company accounts for the issuance of equity instruments to acquire goods and/or services based on the fair value of the goods and services or the fair value of the equity instrument at the time of issuance, whichever is more reliably determinable. The Company's accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows the provisions of the standards issued by the FASB. The measurement date for the fair value of the equity instruments issued is determined as the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor's performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation.

In October 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-17, Consolidation (Topic 810): Interests Held Through Related Parties That are Under Common Control. This update amends the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (VIE) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The primary beneficiary of a VIE is the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.   In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.   In March 2016, the FASB issued ASU No. 2016-09, "Stock Compensation (Topic 718)", which is intended to simplify several aspects of the accounting for share-based payment award transactions, including the income tax impacts, the classification on the statement of cash flows, and forfeitures. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.   In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)". The amendments in this ASU revise the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases. The new lease guidance also simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2018 and are to be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement.   Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations.

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="vertical-align: bottom; border-bottom: black 1pt solid"> Name of Entity </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="hdcell" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center">Form of Entity</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center">State of Incorporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"> Relationship</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">MMEX Resources Corporation (MMEX)</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 2%; text-align: justify"> </td> <td style="width: 13%; text-align: justify">Corporation</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="width: 13%; text-align: justify">Nevada</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="width: 13%; text-align: justify">Parent</td> <td style="width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">MCC Merger, Inc. (MCCM)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">100</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Corporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Delaware</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Holding Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Maple Carpenter Creek Holdings, Inc. (MCCH)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">100</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Corporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Delaware</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Maple Carpenter Creek, LLC (MCC)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">80</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">LLC</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Nevada</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Carpenter Creek, LLC (CC)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">95</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">LLC</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Delaware</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Armadillo Holdings Group Corp. (AHGC)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">100</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Corporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">British Virgin Isles</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Armadillo Mining Corp. (AMC)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">98.6</td> <td style="vertical-align: bottom; text-align: justify">%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Corporation</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">British Virgin Isles</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="text-align: justify">Subsidiary</td> <td style="text-align: justify"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">Accounts Payable</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Accounts Payable Related Party</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Accrued Expenses</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Notes Payable</td> <td style="text-align: justify"> </td></tr> <tr> <td style="vertical-align: top; text-align: justify">Hanks:</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued compensation</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">883,584</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accounts payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">8,033</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Notes payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">39,337</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued interest payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">5,901</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Lemons:</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued consulting fees</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">791,315</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Notes payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">63,530</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued interest payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">9,320</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Katabi:</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accounts payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">5,536</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued consulting fees</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">375,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Notes payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">27,100</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt; text-align: justify">Accrued interest payable</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">4,065</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Total</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">5,536</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">8,033</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">2,069,185</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">129,967</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom">Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td id="hdcell" style="vertical-align: bottom; width: 1%">$</td> <td style="width: 9%; text-align: right"> 53,530</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top">Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, maturing June 30, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td id="ffcell" style="vertical-align: bottom; text-align: right">10,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">Note payable to Delavega Trading Ltd., controlled by Nabil Katabi, maturing June 20, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.25 per share</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">27,100</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top">Note payable to The Maple Gas Corporation, owned by Jack W. Hanks, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">39,337</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Total</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">129,967</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">July 31, 2015</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">April 30, 2015</td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="text-align: center"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Note payable to an accredited investor, maturing July 31, 2013, with interest at 10%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, secured with 2,995,000 common shares of the Company, converted to common stock in May 2015</td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 1%"> $</td> <td style="width: 9%; text-align: right">-</td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 1%"> $</td> <td style="width: 9%; text-align: right">1,650,000</td> <td style="width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top">Note payable to an accredited investor, maturing October 31, 2013, with interest at 20%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td id="ffcell" style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">120,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">Note payable to an accredited investor, maturing February 1, 2014, with interest at 20%, convertible upon default at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">180,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top">Note payable to an accredited investor, maturing March 1, 2013, with interest at 1.87% per month, secured with 900,000 common shares of the Company owned by the president and CEO of the Company</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">120,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">120,000</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">Note payable to an unrelated party, maturing March 18, 2014, with interest at 10%</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">75,001</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">75,001</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Total</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">195,001</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">2,145,001</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Less discount</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Net</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">195,001</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">2,145,001</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Balance, April 30, 2015</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right">-</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Increases in derivative value due to new issuances of notes</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">303,833</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Change in fair value of derivative liabilities</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">(3</td> <td style="vertical-align: bottom; text-align: justify">)</td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Balance, July 31, 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">$</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right">303,830</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">Shares</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> Weighted Average Exercise Price</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> Weighted Average Remaining Contractual Life (Years)</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Outstanding, April 30, 2015</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">2,000,000</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">0.35</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">6.85</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Granted</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Canceled / Expired</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Exercised</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Outstanding, July 31, 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">2,000,000</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">0.35</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">6.61</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center">Shares</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> Weighted Average Exercise Price</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> Weighted Average Remaining Contractual Life (Years)</td> <td style="text-align: justify"> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Outstanding, April 30, 2015</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">32,875,345</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify">$</td> <td style="vertical-align: bottom; width: 9%; text-align: right">0.33</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td> <td style="vertical-align: bottom; width: 9%; text-align: right">.42</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Granted</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">2,192,794</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">$</td> <td style="vertical-align: bottom; text-align: right">0.01</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify">Canceled / Expired</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right">(32,334,345</td> <td style="vertical-align: bottom; text-align: justify">)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">$</td> <td style="vertical-align: bottom; text-align: right">0.33</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Exercised</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">-</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: white"> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify">Outstanding, July 31, 2015</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">2,733,794</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify">$</td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">0.06</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"> </td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right">5.34</td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> </table>

303833

2192794

32334345

0.01

0.33

P6Y10M6D

P5M1D

P6Y7M10D

P5Y4M2D

0.04 0.986

10000000

15000 15000 2733794 1000000000 10000000 123283700

208219

EX-101.SCH 5 mmex-20150731.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Consolidated Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - GOING CONCERN link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - RELATED PARTY TRANSACTIONS link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - PROPERTY AND EQUIPMENT link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - ACCRUED EXPENSES link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - NOTES PAYABLE link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - CONVERTIBLE PREFERRED STOCK link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - DERIVATIVE LIABILITIES link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - STOCKHOLDERS DEFICIT link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - NON-CONTROLLING INTERESTS link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - COMMITMENTS AND CONTINGENCIES link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING (POLICIES) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Tables) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - RELATED PARTY TRANSACTIONS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - PROPERTY AND EQUIPMENTt (Tables) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - ACCRUED EXPENSES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - NOTES PAYABLE (Tables) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - DERIVATIVE LIABILITIES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - STOCKHOLDERS DEFICIT (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Details) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Going Concern (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Related Party Transactions (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Related Party Transactions (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Property and Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Property and Equipment (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Accrued Expenses (Details) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - NOTES PAYABLE (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - NOTES PAYABLE (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - NOTES PAYABLE (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - CONVERTIBLE PREFERRED STOCK (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - DERIVATIVE LIABILITIES (Details) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - DERIVATIVE LIABILITIES (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - STOCKHOLDERS’ DEFICIT (Details) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - STOCKHOLDERS’ DEFICIT (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - STOCKHOLDERS’ DEFICIT (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - NON-CONTROLLING INTERESTS (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - SUBSEQUENT EVENTS (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 6 mmex-20150731_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 7 mmex-20150731_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 8 mmex-20150731_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Mcc Merger Inc [Member] Legal Entity [Axis] Maple Carpenter Creek Holdings Inc [Member] Maple Carpenter Creek Llc [Member] Carpenter Creek Llc [Member] Armadillo Holdings Group Corp [Member] Armadillo Mining Corp [Member] Mmex Resources Corporation [Member] Level 1 [Member] Fair Value, Hierarchy [Axis] Level 2 [Member] Level 3 [Member] Accrued Compensation [Member] Short-term Debt, Type [Axis] Hanks [Member] Equity Components [Axis] Accounts Payable [Member] Notes Payable [Member] Accrued Interest Payable [Member] Accrued Consulting Fees [Member] Lemons [Member] Katabi [Member] Note payable to BNL Family Partners, LLC [Member] Debt Instrument [Axis] Note payable to BNL Family Partners, LLC One [Member] Note payable to Delavega Trading Ltd [Member] Note payable to Maple Gas Corporation [Member] Jack W. Hanks [Member] Delavega Trading Ltd. Convertible Notes [Member] Maple Gas Advances [Member] Maple Gas Advances One [Member] Maple Gas Advances Two [Member] Accrued Payroll [Member] Accrued Expense [Axis] Accrued Consulting [Member] Accrued Dividend [Member] Accrued Interest [Member] Other [Member] Note Payable [Member] Note payable One [Member] Note payable Two [Member] Convertible Notes Payable [Member] Convertible Notes Payable One [Member] Convertible Notes Payable Two [Member] Convertible Notes Payable Three [Member] Convertible Notes Payable Four [Member] Convertible Preferred Stock [Member] Long-term Debt, Type [Axis] Preferred Stock - Mandatory Redemption Right [Member] Minimum [Member] Range [Axis] Maximum [Member] Common Stock Payable [Member] Stock Issuances [Member] AHGC [Member] MCCH [Member] MCC [Member] CC [Member] AMC [Member] Subsequent Event [Member] Subsequent Event Type [Axis] Settlement Agreement and Stipulation [Member] Private Placement [Member] Sale of Stock [Axis] Amendment of Articles of Incorporation [Member] Warrants [Member] Authorized Shares [Member] Empolyee [Member] Related Party Transaction [Axis] Consultant [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer Is Entity a Voluntary Filer Is Entity's Reporting Status Current Entity Filer Category Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Condensed Consolidated Balance Sheets Assets Current assets: Cash Deferred loan costs - short term Total current assets Property and equipment, net Other assets: Deposits Total assets Liabilities and Stockholders' Deficit Current liabilities: Accounts payable Accounts payable - related party Accrued expenses Accrued expenses - related party Notes payable, currently in default Convertible notes payable, net of discount of $0 and $0 at July 31, 2015 and April 30, 2015, respectively, currently in default Convertible preferred stock, currently in default Derivative liabilities Convertible notes payable – related party, net of discount of $0 and $17 at July 31, 2015 and April 30, 2015, respectively, currently in default Preferred stock – mandatory redemption right, net of discount of $0 and $375,600 at July 31, 2015 and April 30, 2015, respectively Total current liabilities Commitments and contingencies Stockholders' deficit: Common stock; $0.001 par value, 1,000,000,000 shares authorized, 57,148,313 and 57,188,313 shares issued and outstanding at July 31, 2015 and April 30, 2015, respectively Common stock payable Additional paid in capital Non-controlling interest Accumulated (deficit) Total Stockholders' Deficit Total Liabilities and Stockholders' Deficit Condensed Consolidated Balance Sheets Parenthetical Convertible notes, net of discount currently in default Convertible notes, net of discount related party Discount on preferred stock redemption right, net Stockholders' (Deficit): Common stock, par value Common stock, Authorized Common stock, Issued Common stock, outstanding Condensed Consolidated Statements Of Operations Revenues Operating Expenses: Selling, general and administrative expenses Depreciation and amortization Total operating expenses Loss from operations Other (expense): Interest expense Loss on derivative liabilities Loss on extinguishment of debt Total other (expense) Loss before income taxes Provision for income taxes Net Loss Non-controlling interest in loss of consolidated subsidiaries Net loss attributable to company Weighted average number of common shares outstanding - basic and diluted Net loss per common share - basic and diluted Condensed Consolidated Statements Of Cash Flows Cash flows from operating activities Net loss attributable to the Company Non-controlling interest in net loss Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization expense Amortization of debt discount Amortization of deferred loan costs Loss on derivative liabilities Loss on extinguishment of debt Increase in liabilities: Accounts payable Accrued expenses Net cash used in operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Proceeds from common stock payable Proceeds from debt Net cash provided by financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period Supplemental disclosures: Interest paid Income taxes paid Debt discount on issuance of warrants Adjustment to common stock and additional paid-in capital Accrued expenses contributed to capital Preferred stock and accrued dividends converted to common stock payable Notes payable converted to common stock payable Notes payable - related party contributed to capital Notes to Financial Statements NOTE 1 - BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 3 - GOING CONCERN NOTE 4 - RELATED PARTY TRANSACTIONS NOTE 5 - PROPERTY AND EQUIPMENT NOTE 6 - ACCRUED EXPENSES NOTE 7 - NOTES PAYABLE NOTE 8 - CONVERTIBLE PREFERRED STOCK NOTE 9 - DERIVATIVE LIABILITIES NOTE 10 - Stockholders' Deficit NOTE 11 - NON-CONTROLLING INTERESTS NOTE 12 - COMMITMENTS AND CONTINGENCIES NOTE 13 - SUBSEQUENT EVENTS Summary Of Significant Accounting Policies Policies Use of estimates Derivative liabilities EX-101.PRE 9 mmex-20150731_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 10 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jul. 31, 2015	Jan. 30, 2017
Document And Entity Information
Entity Registrant Name	MMEX Resources Corp
Entity Central Index Key	0001440799
Document Type	10-Q
Document Period End Date	Jul. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer	No
Is Entity's Reporting Status Current	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		906,923,522
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2016

XML 11 R2.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets - USD ($)	Jul. 31, 2015	Apr. 30, 2015
Current assets:
Cash	$ 144	$ 141
Deferred loan costs - short term		8,822
Total current assets	144	8,963
Property and equipment, net	1,447	2,333
Other assets:
Deposits	10,000	10,000
Total assets	11,591	21,296
Current liabilities:
Accounts payable	665,905	669,709
Accounts payable - related party		8,033
Accrued expenses	1,180,422	1,187,052
Accrued expenses - related party	37,783	2,389,957
Notes payable, currently in default	375,000	375,000
Convertible notes payable, net of discount of $0 and $0 at July 31, 2015 and April 30, 2015, respectively, currently in default	195,001	2,145,001
Convertible preferred stock, currently in default	137,500	137,500
Derivative liabilities	303,830
Convertible notes payable – related party, net of discount of $0 and $17 at July 31, 2015 and April 30, 2015, respectively, currently in default		129,950
Preferred stock – mandatory redemption right, net of discount of $0 and $375,600 at July 31, 2015 and April 30, 2015, respectively		624,400
Total current liabilities	2,895,441	7,666,602
Stockholders' deficit:
Common stock; $0.001 par value, 1,000,000,000 shares authorized, 57,148,313 and 57,188,313 shares issued and outstanding at July 31, 2015 and April 30, 2015, respectively	57,150	57,189
Common stock payable	4,879,256	90,000
Additional paid in capital	22,428,158	20,215,398
Non-controlling interest	(375,244)	(374,781)
Accumulated (deficit)	(29,873,170)	(27,633,112)
Total Stockholders' Deficit	(2,883,850)	(7,645,306)
Total Liabilities and Stockholders' Deficit	$ 11,591	$ 21,296

XML 12 R3.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
Current liabilities:
Convertible notes, net of discount currently in default	$ 0	$ 0
Convertible notes, net of discount related party	0	17
Discount on preferred stock redemption right, net	$ 0	$ 375,600
Stockholders' (Deficit):
Common stock, par value	$ 0.001	$ 0.001
Common stock, Authorized	1,000,000,000	1,000,000,000
Common stock, Issued	57,148,313	57,188,313
Common stock, outstanding	57,148,313	57,188,313

XML 13 R4.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Condensed Consolidated Statements Of Operations
Revenues
Operating Expenses:
Selling, general and administrative expenses	101,344	195,228
Depreciation and amortization	886	1,251
Total operating expenses	102,230	196,479
Loss from operations	(102,230)	(196,479)
Other (expense):
Interest expense	(420,890)	(122,530)
Loss on derivative liabilities	(303,830)
Loss on extinguishment of debt	(1,413,571)
Total other (expense)	(2,138,291)	(122,530)
Loss before income taxes	(2,240,521)	(319,009)
Provision for income taxes
Net Loss	(2,240,521)	(319,009)
Non-controlling interest in loss of consolidated subsidiaries	463	253
Net loss attributable to company	$ (2,240,058)	$ (318,756)
Weighted average number of common shares outstanding - basic and diluted	57,188,313	57,188,313
Net loss per common share - basic and diluted	$ (0.04)	$ (0.01)

XML 14 R5.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Cash flows from operating activities
Net loss attributable to the Company	$ (2,240,058)	$ (318,756)
Non-controlling interest in net loss	(463)	(253)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	886	1,251
Amortization of debt discount	375,617	53,861
Amortization of deferred loan costs	8,822	2,500
Loss on derivative liabilities	303,830
Loss on extinguishment of debt	1,413,571
Increase in liabilities:
Accounts payable	1,732	1,601
Accrued expenses	121,066	249,503
Net cash used in operating activities	(14,997)	(10,293)
Cash flows from investing activities
Net cash used in investing activities
Cash flows from financing activities
Proceeds from common stock payable	15,000
Proceeds from debt		10,000
Net cash provided by financing activities	15,000	10,000
Net increase (decrease) in cash	3	(293)
Cash at the beginning of the period	141	434
Cash at the end of the period	144	141
Supplemental disclosures:
Interest paid
Income taxes paid
Debt discount on issuance of warrants		114
Adjustment to common stock and additional paid-in capital	(39)
Accrued expenses contributed to capital	2,063,468
Preferred stock and accrued dividends converted to common stock payable	(1,410,685)
Notes payable converted to common stock payable	1,950,000
Notes payable - related party contributed to capital	$ 149,253

XML 15 R6.htm IDEA: XBRL DOCUMENT

BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 1 - BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION

The Board of Directors of the Company has decided to focus efforts on the oil, gas, refining and electric power business in the United States and Latin America.

The accompanying condensed consolidated financial statements include the accounts of the following entities, all of which the Company maintains control through a majority ownership:

Name of Entity	%			Form of Entity	State of Incorporation	Relationship

MMEX Resources Corporation (“MMEX”)		-		Corporation	Nevada	Parent
MCC Merger, Inc. (“MCCM”)		100	%	Corporation	Delaware	Holding Subsidiary
Maple Carpenter Creek Holdings, Inc. (“MCCH”)		100	%	Corporation	Delaware	Subsidiary
Maple Carpenter Creek, LLC (“MCC”)		80	%	LLC	Nevada	Subsidiary
Carpenter Creek, LLC (“CC”)		95	%	LLC	Delaware	Subsidiary
Armadillo Holdings Group Corp. (“AHGC”)		100	%	Corporation	British Virgin Isles	Subsidiary
Armadillo Mining Corp. (“AMC”)		98.6	%	Corporation	British Virgin Isles	Subsidiary

All significant inter-company transactions have been eliminated in the preparation of the consolidated financial statements.

The Company has adopted a fiscal year end of April 30.

XML 16 R7.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Our significant accounting policies are described in our Annual Report on Form 10-K for the year ended April 30, 2015 filed with the SEC on July 11, 2016.

Use of Estimates

Derivative liabilities

Fair value of financial instruments

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows at July 31, 2015:

	Total		Level 1		Level 2		Level 3

Derivative liability	$	303,830	$	-	$	-	$	303,830

Basic and diluted loss per share

Issuance of shares for non-cash consideration

Reclassifications

Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation.

Recently Issued Accounting Pronouncements

XML 17 R8.htm IDEA: XBRL DOCUMENT

GOING CONCERN

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 3 - GOING CONCERN

XML 18 R9.htm IDEA: XBRL DOCUMENT

RELATED PARTY TRANSACTIONS

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 4 - RELATED PARTY TRANSACTIONS

	Accounts Payable		Accounts Payable – Related Party		Accrued Expenses		Notes Payable
Hanks:
Accrued compensation	$	-	$	-	$	883,584	$	-
Accounts payable		-		8,033		-		-
Notes payable		-		-		-		39,337
Accrued interest payable		-		-		5,901		-
Lemons:
Accrued consulting fees		-		-		791,315		-
Notes payable		-		-		-		63,530
Accrued interest payable		-		-		9,320		-
Katabi:
Accounts payable		5,536		-		-		-
Accrued consulting fees		-		-		375,000		-
Notes payable		-		-		-		27,100
Accrued interest payable		-		-		4,065		-

Total	$	5,536	$	8,033	$	2,069,185	$	129,967

Accrued expenses (see Note 6) to related parties totaled $37,783 and $2,389,957 as of July 31, 2015 and April 30, 2015, respectively.

The convertible notes payable – related party that were forgiven and contributed to capital consisted of the following at April 30, 2015:

Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share	$	53,530
Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, maturing June 30, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share		10,000
Note payable to Delavega Trading Ltd., controlled by Nabil Katabi, maturing June 20, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.25 per share		27,100
Note payable to The Maple Gas Corporation, owned by Jack W. Hanks, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share		39,337

Total	$	129,967

BNL Family Partners Convertible Notes

On May 18, 2015, the two BNL Family Partners notes were forgiven and contributed to capital.

Delavega Trading Ltd. Convertible Notes

On May 18, 2015, the Delavega Trading Ltd. note was forgiven and contributed to capital.

Maple Gas Convertible Notes

On May 18, 2015, the Maple Gas Corporation note was forgiven and contributed to capital.

XML 19 R10.htm IDEA: XBRL DOCUMENT

PROPERTY AND EQUIPMENT

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 5 - PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at:

	July 31, 2015			April 30, 2015

Computer software and hardware	$	25,023		$	25,023
Less accumulated depreciation and amortization		(23,576	)		(22,690	)

	$	1,447		$	2,333

Depreciation and amortization expense totaled $886 and $1,251 for the three months ended July 31, 2015 and 2014, respectively.

XML 20 R11.htm IDEA: XBRL DOCUMENT

ACCRUED EXPENSES

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 6 - ACCRUED EXPENSES

Accrued expenses consisted of the following at:

	July 31, 2015		April 30, 2015

Accrued payroll	$	301,359	$	1,184,943
Accrued consulting		292,301		1,433,616
Accrued dividend		-		410,685
Accrued interest		562,004		485,224
Other		62,541		62,541

	$	1,218,205	$	3,577,009

XML 21 R12.htm IDEA: XBRL DOCUMENT

NOTES PAYABLE

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 7 - NOTES PAYABLE

Notes payable, currently in default, consist of the following at:

	July 31, 2015		April 30, 2015

Note payable to an unrelated party, maturing July 15, 2010, with interest at 10%	$	300,000	$	300,000
Note payable to an unrelated party, maturing December 31, 2010, with interest at 10%		25,000		25,000
Note payable to an unrelated party, maturing January 27, 2012, with interest at 25%		50,000		50,000

	$	375,000	$	375,000

Accrued interest payable on notes payable, currently in default, totaled $245,540 and $235,227 at July 31, 2015 and April 30, 2015, respectively.

Convertible notes payable, currently in default, consist of the following at:

	July 31, 2015		April 30, 2015

Note payable to an accredited investor, maturing July 31, 2013, with interest at 10%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, secured with 2,995,000 common shares of the Company, converted to common stock in May 2015	$	-	$	1,650,000
Note payable to an accredited investor, maturing October 31, 2013, with interest at 20%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015		-		120,000
Note payable to an accredited investor, maturing February 1, 2014, with interest at 20%, convertible upon default at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015		-		180,000
Note payable to an accredited investor, maturing March 1, 2013, with interest at 1.87% per month, secured with 900,000 common shares of the Company owned by the president and CEO of the Company		120,000		120,000
Note payable to an unrelated party, maturing March 18, 2014, with interest at 10%		75,001		75,001

Total		195,001		2,145,001

Less discount		-		-

Net	$	195,001	$	2,145,001

Accrued interest payable on convertible notes payable, currently in default, totaled $86,237 and $77,630 at July 31, 2015 and April 30, 2015, respectively.

XML 22 R13.htm IDEA: XBRL DOCUMENT

CONVERTIBLE PREFERRED STOCK

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 8 - CONVERTIBLE PREFERRED STOCK

Preferred Stock – Mandatory Redemption Right

Convertible Preferred Stock, Currently in Default

XML 23 R14.htm IDEA: XBRL DOCUMENT

DERIVATIVE LIABILITIES

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 9 - DERIVATIVE LIABILITIES

In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives.

During the three months ended July 31, 2015, we had the following activity in our derivative liabilities:

Balance, April 30, 2015	$	-
Increases in derivative value due to new issuances of notes		303,833
Change in fair value of derivative liabilities		(3	)

Balance, July 31, 2015	$	303,830

Key inputs and assumptions used in valuing the Company’s derivative liabilities are as follows for issuances of warrants:

	·	Stock prices on all measurement dates were based on the fair market value
	·	Risk-free interest rates ranging from 1.03% – 2.49%
	·	The probability of future financing was estimated at 100%
	·	Computed volatility ranging from 103% to 249%

XML 24 R15.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS DEFICIT

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 10 - Stockholders' Deficit

Authorized Shares

Adjustment to Outstanding Shares

Stock Issuances

During the three months ended July 31, 2015, the Company did not issue any shares of its common or preferred stock.

Common Stock Payable

Stock Options

A summary of stock option activity during the three months ended July 31, 2015 is presented below:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding, April 30, 2015		2,000,000	$	0.35		6.85

Granted		-		-
Canceled / Expired		-		-
Exercised		-		-

Outstanding, July 31, 2015		2,000,000	$	0.35		6.61

Warrants

A summary of warrant activity during the three months ended July 31, 2015 is presented below:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding, April 30, 2015		32,875,345		$	0.33		.42

Granted		2,192,794		$	0.01
Canceled / Expired		(32,334,345	)	$	0.33
Exercised		-			-

Outstanding, July 31, 2015		2,733,794		$	0.06		5.34

Common Stock Reserved

At July 31, 2015, 2,733,794 shares of the Company’s common stock were reserved for issuance of outstanding warrants.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

+ Details

XML 25 R16.htm IDEA: XBRL DOCUMENT

NON-CONTROLLING INTERESTS	3 Months Ended
NON-CONTROLLING INTERESTS	Jul. 31, 2015
Notes to Financial Statements
NOTE 11 - NON-CONTROLLING INTERESTS	On September 23, 2010, the Company, through a reverse merger, acquired 100% of the outstanding shares of Maple Carpenter Creek Holdings, Inc., ("MCCH"), a holding Company, with an 80% interest in Maple Carpenter Creek, LLC ("MCC"), which in turn owned a 95% interest in the subsidiary, Carpenter Creek, LLC ("CC"), and a 98.12% interest in Armadillo Holdings Group Corp. ("AHGC"), which in turn owned an 80% interest in Armadillo Mining Corp. ("AMC"). The non-controlling interest of 1.88% in AHGC was acquired by MCCH on December 21, 2010 in exchange for 31,334 shares of the Company’s common stock resulting in 100% ownership of AHGC. On March 22, 2011, AHGC acquired 14.6% of AMC and on April 30, 2012, an additional 4% interest for a total of 98.6% based upon agreement with the minority interest holder to reduce their interest based upon proportionate share of additional capital contributed to AMC.

XML 26 R17.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 12 - COMMITMENTS AND CONTINGENCIES

Legal

There were no legal proceedings against the Company.

Operating Lease Commitments

XML 27 R18.htm IDEA: XBRL DOCUMENT

SUBSEQUENT EVENTS

3 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 13 - SUBSEQUENT EVENTS

In accordance with ASC 855-10, all subsequent events have been reported through the filing date as set forth below.

Amendments of Articles of Incorporation

As of November 29, 2016, the Company amended its articles of incorporation to increase its authorized common shares to 3,000,000,000 shares.

Transfer of Coal Project

Issuance of Common Shares for Conversion of Preferred Shares and Convertible Notes Payable

On November 10, 2015, the Company issued 123,283,700 of its common shares to a related party pursuant to the conversion of preferred stock and accrued dividends (Note 8).

On May 2, 2016, the Company issued a total of 194,999,999 shares of its common stock to a related party pursuant to the conversion of notes payable in default (see Note 7).

Private Placement

Settlement Agreement and Stipulation

Other Subsequent Events

On January 24, 2017, the Company issued 2,082,190 shares of its common stock to a former employee in settlement of accrued salaries of $208,219.

On January 24, 2017, the Company issued 28,625,000 shares of its common stock to a consultant in payment of services valued at $5,725.

XML 28 R19.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING (POLICIES)

3 Months Ended

Jul. 31, 2015

Summary Of Significant Accounting Policies Policies

Use of estimates

Derivative liabilities

Fair value of financial instruments

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows at July 31, 2015:

	Total		Level 1		Level 2		Level 3

Derivative liability	$	303,830	$	-	$	-	$	303,830

Basic and diluted loss per share

Issuance of shares for non-cash consideration

Reclassifications

Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation.

Recently issued accounting pronouncements

XML 29 R20.htm IDEA: XBRL DOCUMENT

BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Tables)

3 Months Ended

Jul. 31, 2015

Background Organization And Basis Of Presentation Tables

Entity operational details

Name of Entity	%			Form of Entity	State of Incorporation	Relationship

MMEX Resources Corporation (“MMEX”)		-		Corporation	Nevada	Parent
MCC Merger, Inc. (“MCCM”)		100	%	Corporation	Delaware	Holding Subsidiary
Maple Carpenter Creek Holdings, Inc. (“MCCH”)		100	%	Corporation	Delaware	Subsidiary
Maple Carpenter Creek, LLC (“MCC”)		80	%	LLC	Nevada	Subsidiary
Carpenter Creek, LLC (“CC”)		95	%	LLC	Delaware	Subsidiary
Armadillo Holdings Group Corp. (“AHGC”)		100	%	Corporation	British Virgin Isles	Subsidiary
Armadillo Mining Corp. (“AMC”)		98.6	%	Corporation	British Virgin Isles	Subsidiary

XML 30 R21.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Jul. 31, 2015

Summary Of Significant Accounting Policies Tables

Summary of derivative liabilities

	Total		Level 1		Level 2		Level 3

Derivative liability	$	303,830	$	-	$	-	$	303,830

XML 31 R22.htm IDEA: XBRL DOCUMENT

RELATED PARTY TRANSACTIONS (Tables)

3 Months Ended

Jul. 31, 2015

Related Party Transactions Tables

Summary of related party indebtness

	Accounts Payable		Accounts Payable – Related Party		Accrued Expenses		Notes Payable
Hanks:
Accrued compensation	$	-	$	-	$	883,584	$	-
Accounts payable		-		8,033		-		-
Notes payable		-		-		-		39,337
Accrued interest payable		-		-		5,901		-
Lemons:
Accrued consulting fees		-		-		791,315		-
Notes payable		-		-		-		63,530
Accrued interest payable		-		-		9,320		-
Katabi:
Accounts payable		5,536		-		-		-
Accrued consulting fees		-		-		375,000		-
Notes payable		-		-		-		27,100
Accrued interest payable		-		-		4,065		-

Total	$	5,536	$	8,033	$	2,069,185	$	129,967

Convertible notes payable related party

Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share	$	53,530
Note payable to a BNL Family Partners, Ltd., partially owned by Bruce N. Lemons, maturing June 30, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share		10,000
Note payable to Delavega Trading Ltd., controlled by Nabil Katabi, maturing June 20, 2015, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.25 per share		27,100
Note payable to The Maple Gas Corporation, owned by Jack W. Hanks, with interest at 15%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.025 per share		39,337

Total	$	129,967

XML 32 R23.htm IDEA: XBRL DOCUMENT

PROPERTY AND EQUIPMENTt (Tables)

3 Months Ended

Jul. 31, 2015

Property And Equipment Tables

Property and Equipment

	July 31, 2015			April 30, 2015

Computer software and hardware	$	25,023		$	25,023
Less accumulated depreciation and amortization		(23,576	)		(22,690	)

	$	1,447		$	2,333

XML 33 R24.htm IDEA: XBRL DOCUMENT

ACCRUED EXPENSES (Tables)

3 Months Ended

Jul. 31, 2015

Accrued Expenses Tables

Accrued expenses

	July 31, 2015		April 30, 2015

Accrued payroll	$	301,359	$	1,184,943
Accrued consulting		292,301		1,433,616
Accrued dividend		-		410,685
Accrued interest		562,004		485,224
Other		62,541		62,541

	$	1,218,205	$	3,577,009

XML 34 R25.htm IDEA: XBRL DOCUMENT

NOTES PAYABLE (Tables)

3 Months Ended

Jul. 31, 2015

Income Taxes Tables

Notes payable, currently in default

	July 31, 2015		April 30, 2015

Note payable to an unrelated party, maturing July 15, 2010, with interest at 10%	$	300,000	$	300,000
Note payable to an unrelated party, maturing December 31, 2010, with interest at 10%		25,000		25,000
Note payable to an unrelated party, maturing January 27, 2012, with interest at 25%		50,000		50,000

	$	375,000	$	375,000

Convertible notes payable, currently in default

	July 31, 2015		April 30, 2015

Note payable to an accredited investor, maturing July 31, 2013, with interest at 10%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, secured with 2,995,000 common shares of the Company, converted to common stock in May 2015	$	-	$	1,650,000
Note payable to an accredited investor, maturing October 31, 2013, with interest at 20%, convertible at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015		-		120,000
Note payable to an accredited investor, maturing February 1, 2014, with interest at 20%, convertible upon default at the option of the holder into common shares of the Company at a fixed conversion price of $0.20 per share, converted to common stock in May 2015		-		180,000
Note payable to an accredited investor, maturing March 1, 2013, with interest at 1.87% per month, secured with 900,000 common shares of the Company owned by the president and CEO of the Company		120,000		120,000
Note payable to an unrelated party, maturing March 18, 2014, with interest at 10%		75,001		75,001

Total		195,001		2,145,001

Less discount		-		-

Net	$	195,001	$	2,145,001

XML 35 R26.htm IDEA: XBRL DOCUMENT

DERIVATIVE LIABILITIES (Tables)

3 Months Ended

Jul. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE LIABILITIES

Balance, April 30, 2015	$	-
Increases in derivative value due to new issuances of notes		303,833
Change in fair value of derivative liabilities		(3	)

Balance, July 31, 2015	$	303,830

XML 36 R27.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS DEFICIT (Tables)

3 Months Ended

Jul. 31, 2015

Changes In Stockholders Equity Deficit Tables

Summary of stock option activity

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding, April 30, 2015		2,000,000	$	0.35		6.85

Granted		-		-
Canceled / Expired		-		-
Exercised		-		-

Outstanding, July 31, 2015		2,000,000	$	0.35		6.61

Summary of warrant activity

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding, April 30, 2015		32,875,345		$	0.33		.42

Granted		2,192,794		$	0.01
Canceled / Expired		(32,334,345	)	$	0.33
Exercised		-			-

Outstanding, July 31, 2015		2,733,794		$	0.06		5.34

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

XML 37 R28.htm IDEA: XBRL DOCUMENT

BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Details)	3 Months Ended
	Jul. 31, 2015
State of Incorporation	State of Nevada
Mmex Resources Corporation [Member]
Ownership Percentage	-
Form of Entity	Corporation
State of Incorporation	Nevada
Relationship	Parent
Mcc Merger Inc [Member]
Ownership Percentage	100%
Form of Entity	Corporation
State of Incorporation	Delaware
Relationship	Holding Subsidiary
Maple Carpenter Creek Holdings Inc [Member]
Ownership Percentage	100%
Form of Entity	Corporation
State of Incorporation	Delaware
Relationship	Subsidiary
Maple Carpenter Creek Llc [Member]
Ownership Percentage	80%
Form of Entity	LLC
State of Incorporation	Nevada
Relationship	Subsidiary
Carpenter Creek Llc [Member]
Ownership Percentage	95%
Form of Entity	LLC
State of Incorporation	Delaware
Relationship	Subsidiary
Armadillo Holdings Group Corp [Member]
Ownership Percentage	100%
Form of Entity	Corporation
State of Incorporation	British Virgin Isles
Relationship	Subsidiary
Armadillo Mining Corp [Member]
Ownership Percentage	98.6%
Form of Entity	Corporation
State of Incorporation	British Virgin Isles
Relationship	Subsidiary

XML 38 R29.htm IDEA: XBRL DOCUMENT

BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)	3 Months Ended
	Jul. 31, 2015
Background Organization And Basis Of Presentation Details Narrative
State of Incorporation	State of Nevada

XML 39 R30.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jul. 31, 2015 USD ($)
Derivative liability	$ 303,830
Level 1 [Member]
Derivative liability
Level 2 [Member]
Derivative liability
Level 3 [Member]
Derivative liability	$ 303,830

XML 40 R31.htm IDEA: XBRL DOCUMENT

Going Concern (Details Narrative) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
Going Concern Details Narrative
Accumulated deficit	$ (29,873,170)	$ (27,633,112)
Total Stockholders' Deficit	$ (2,883,850)	$ (7,645,306)

XML 41 R32.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details) - USD ($)	Jul. 31, 2016	Jul. 31, 2015
Accounts Payable		$ 5,536
Accounts Payable Related Party		8,033
Accrued Expenses		2,069,185
Notes Payable		129,967
Accrued Compensation [Member] \| Hanks [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses	883,584
Notes Payable
Accounts Payable [Member] \| Hanks [Member]
Accounts Payable
Accounts Payable Related Party		8,033
Accrued Expenses
Notes Payable
Accounts Payable [Member] \| Katabi [Member]
Accounts Payable		5,536
Accounts Payable Related Party
Accrued Expenses
Notes Payable
Notes Payable [Member] \| Hanks [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses
Notes Payable		39,337
Notes Payable [Member] \| Lemons [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses
Notes Payable		63,530
Notes Payable [Member] \| Katabi [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses
Notes Payable		27,100
Accrued Interest Payable [Member] \| Hanks [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses		5,901
Notes Payable
Accrued Interest Payable [Member] \| Lemons [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses		9,320
Notes Payable
Accrued Interest Payable [Member] \| Katabi [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses		4,065
Notes Payable
Accrued Consulting Fees [Member] \| Lemons [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses		791,315
Notes Payable
Accrued Consulting Fees [Member] \| Katabi [Member]
Accounts Payable
Accounts Payable Related Party
Accrued Expenses		375,000
Notes Payable

XML 42 R33.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details 1)	Apr. 30, 2015 USD ($)
Total	$ 129,967
Note payable to BNL Family Partners, LLC [Member]
Total	53,530
Note payable to BNL Family Partners, LLC One [Member]
Total	10,000
Note payable to Delavega Trading Ltd [Member]
Total	27,100
Note payable to Maple Gas Corporation [Member]
Total	$ 39,337

XML 43 R34.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details Narrative) - USD ($)	Jul. 31, 2015	May 18, 2015	Apr. 30, 2015	Oct. 09, 2014	Jun. 20, 2014	Apr. 30, 2014	Dec. 17, 2012	Sep. 15, 2012	Aug. 01, 2012	Sep. 04, 2010
Reimbursed amount outstanding	$ 31,633		$ 31,633
Capital contribution			2,212,721
Accrued expenses - related party	37,783		$ 2,389,957
Common stock shares			57,188,313
Unamortized debt discount preferred shares			$ 17
Jack W. Hanks [Member]
Annual compensation										$ 300,000
Lemons [Member]
Annual compensation										$ 170,000
Delavega Trading Ltd. Convertible Notes [Member]
Balance of debt discount							$ 1,300		$ 2,600
Convertible note	$ 27,100						$ 6,500		$ 13,000
Interest rate							20.00%		20.00%
Convertible note per share	$ 0.025						$ 0.20		$ 0.20
Promissory notes	$ 1,000,000
Common stock warrant							$ 6,500		$ 13,000
Warrants valued							$ 549		$ 1,292
Exercise price of warrant							$ 0.30		$ 0.30
Note payable to BNL Family Partners, LLC [Member]
Balance of debt discount								$ 900
Convertible note	$ 53,530				$ 10,000			$ 4,500
Interest rate					15.00%			20.00%
Convertible note per share	$ 0.025				$ 0.025			$ 0.20
Promissory notes	$ 1,000,000							$ 150,000
Common stock warrant					$ 10,000			4,500
Warrants valued					$ 114			$ 800
Exercise price of warrant					$ 0.05			$ 0.30
Maple Gas Advances [Member]
Convertible note		$ 975,000		$ 1,650,000		$ 39,337
Interest rate						15.00%
Convertible note per share		$ 0.01				$ 0.025
Promissory notes						$ 1,000,000
Common stock warrant	$ 2,925,000
Common stock shares		194,999,999
Maple Gas Advances One [Member]
Convertible note				120,000
Maple Gas Advances Two [Member]
Convertible note				$ 180,000

XML 44 R35.htm IDEA: XBRL DOCUMENT

Property and Equipment (Details) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
Property And Equipment Details
Computer software and hardware	$ 25,023	$ 25,023
Less accumulated depreciation and amortization	(23,576)	(22,690)
Property and equipment, net	$ 1,447	$ 2,333

XML 45 R36.htm IDEA: XBRL DOCUMENT

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended
Property and Equipment (Details Narrative) - USD ($)	Jul. 31, 2015	Jul. 31, 2014
Property And Equipment Details Narrative
Depreciation and amortization	$ 886	$ 1,251

XML 46 R37.htm IDEA: XBRL DOCUMENT

Accrued Expenses (Details) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
Total Accrued Expenses	$ 1,218,205	$ 3,577,009
Accrued Payroll [Member]
Total Accrued Expenses	301,359	1,184,943
Accrued Consulting [Member]
Total Accrued Expenses	292,301	1,433,616
Accrued Dividend [Member]
Total Accrued Expenses		410,685
Accrued Interest [Member]
Total Accrued Expenses	562,004	485,224
Other [Member]
Total Accrued Expenses	$ 62,541	$ 62,541

XML 47 R38.htm IDEA: XBRL DOCUMENT

NOTES PAYABLE (Details) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
Notes payable	$ 375,000	$ 375,000
Note Payable [Member]
Notes payable	300,000	300,000
Note payable One [Member]
Notes payable	25,000	25,000
Note payable Two [Member]
Notes payable	$ 50,000	$ 50,000

XML 48 R39.htm IDEA: XBRL DOCUMENT

NOTES PAYABLE (Details 1) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
Total	$ 195,001	$ 2,145,001
Less discount
Net	195,001	2,145,001
Convertible Notes Payable [Member]
Total		1,650,000
Convertible Notes Payable One [Member]
Total		120,000
Convertible Notes Payable Two [Member]
Total		180,000
Convertible Notes Payable Three [Member]
Total	120,000	120,000
Convertible Notes Payable Four [Member]
Total	$ 75,001	$ 75,001

XML 49 R40.htm IDEA: XBRL DOCUMENT

NOTES PAYABLE (Details Narrative) - USD ($)				1 Months Ended
NOTES PAYABLE (Details Narrative) - USD ($)	Jan. 02, 2015	Feb. 01, 2013	Aug. 15, 2012	Apr. 25, 2012	Jul. 31, 2015	May 08, 2015	Apr. 30, 2015	Oct. 09, 2014	Jan. 02, 2013
Common stock, par value					$ 0.001		$ 0.001
Common stock payable							$ 129,967
Convertible Notes Payable [Member]
Accrued interest					$ 86,237		77,630	$ 1,650,000
New notes issued		150,000	100,000	1,500,000					120,000
Note due date	Mar. 01, 2013	Feb. 01, 2014	Oct. 31, 2013	Jul. 31, 2013
Note interest rste		20.00%		10.00%					1.87%
Computed interest		$ 30,000	$ 20,000	$ 150,000
Conversion price		$ 0.20	$ 0.20	$ 0.20		$ 0.01
Placement fees			20.00%
Warrent issued		150,000	120,000
Warrent issued value		$ 16,103	$ 14,232
Increase to debt discount		$ 16,103	$ 14,232						$ 30,000
Warrent exercise price		$ 0.20	$ 0.30
Converted notes into shares						195,000,000
loss on extinguishment of debt						$ 975,000
Issue of shares									300,000
Note secured by common stock									900,000
Common stock, par value									$ 0.10
Common stock payable					2,925,000
Convertible Notes Payable One [Member]
Accrued interest								120,000
Convertible Notes Payable Two [Member]
Accrued interest								$ 180,000
Note Payable [Member]
Accrued interest					$ 245,540		$ 235,227

XML 50 R41.htm IDEA: XBRL DOCUMENT

CONVERTIBLE PREFERRED STOCK (Details Narrative) - USD ($)	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Mar. 01, 2016	May 18, 2015	Apr. 30, 2015	Oct. 07, 2014	Jan. 06, 2012	Jun. 30, 2011	Mar. 22, 2011
Amortization of debt discounts	$ 375,617	$ 53,861
Interest expense	420,890	122,530
Convertible Preferred Stock [Member]
Share issued								360,000
Investment								$ 360,000
Conversion price							$ 0.10475	$ 1.25
Preferred Stock dividend rate								25.00%
Warrent issued								360,000
Common stock exercise price								$ 0.60
Remaining face value of Preferred Stock	137,500				$ 137,500
Accrued dividends	230,227				213,039		$ 312,500
Accrued dividend converted into common shares							2,983,293
loss on extinguishment of debt							$ 75,328
Interest expense	420,890	122,530
Preferred Stock - Mandatory Redemption Right [Member]
Share issued									1,000,000
Investment									$ 1,000,000
Conversion price				$ 0.01					$ 0.40
Preferred Stock dividend rate									10.00%
liquidation value per share									$ 1.00
Beneficial conversion			$ 1,000,000
Preferred Shares transferred				1,000,000		1,000,000
Preferred Shares transferred value				$ 1,000,000
Amortization of debt discounts	$ 375,600	53,848
Collateralized security interest in investment	2,500,000
Cost of Debt	$ 50,000
Amortization on loan costs	8,822	$ 2,500
Unpaid dividends payable	$ 0				$ 410,685
Accrued dividends				$ 410,685
Accrued dividend converted into common shares				123,283,700
loss on extinguishment of debt				$ 438,571
Unamortized discount				$ 375,600

XML 51 R42.htm IDEA: XBRL DOCUMENT

DERIVATIVE LIABILITIES (Details)	3 Months Ended
DERIVATIVE LIABILITIES (Details)	Jul. 31, 2015 USD ($)
Notes to Financial Statements
Derivative liabilities
Increases in derivative value due to new issuances of notes	303,833
Change in fair value of derivative liabilities	(3)
Derivative liabilities	$ 303,830

XML 52 R43.htm IDEA: XBRL DOCUMENT

DERIVATIVE LIABILITIES (Details Narrative)	3 Months Ended	12 Months Ended
DERIVATIVE LIABILITIES (Details Narrative)	Jul. 31, 2015	Apr. 30, 2016
Probability of future financing	100.00%
Minimum [Member]
Risk-free interest rates		1.03%
Volatility		103.00%
Maximum [Member]
Risk-free interest rates		2.49%
Volatility		249.00%

XML 53 R44.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS’ DEFICIT (Details)	3 Months Ended
STOCKHOLDERS’ DEFICIT (Details)	Jul. 31, 2015 $ / shares shares
Number of options
Beginning Balance \| shares	2,000,000
Granted \| shares
Canceled / Expired \| shares
Exercised \| shares
Ending Balance \| shares	2,000,000
Weighted Average Exercise Price Per share
Beginning Balance \| $ / shares	$ 0.35
Granted \| $ / shares
Canceled / Expired \| $ / shares
Exercised \| $ / shares
Ending Balance \| $ / shares	$ 0.35
Weighted Average Remaining Contractual Life (in years) Beginning	6 years 10 months 6 days
Weighted Average Remaining Contractual Life (in years) Outstanding Ending	6 years 7 months 10 days

XML 54 R45.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS’ DEFICIT (Details 1)	3 Months Ended
STOCKHOLDERS’ DEFICIT (Details 1)	Jul. 31, 2015 $ / shares shares
Number of warrants
Beginning Balance \| shares	2,000,000
Granted \| shares
Canceled / Expired \| shares
Exercised \| shares
Ending Balance \| shares	2,000,000
Weighted Average Exercise Price Per Share
Beginning Balance \| $ / shares	$ 0.35
Granted \| $ / shares
Canceled / Expired \| $ / shares
Exercised \| $ / shares
Ending Balance \| $ / shares	$ 0.35
Weighted Average Remaining Contractual Life (in years) Beginning	6 years 10 months 6 days
Weighted Average Remaining Contractual Life (in years) Outstanding Ending	6 years 7 months 10 days
Warrants [Member]
Number of warrants
Beginning Balance \| shares	32,875,345
Granted \| shares	2,192,794
Canceled / Expired \| shares	(32,334,345)
Exercised \| shares
Ending Balance \| shares	2,733,794
Weighted Average Exercise Price Per Share
Beginning Balance \| $ / shares	$ 0.33
Granted \| $ / shares	0.01
Canceled / Expired \| $ / shares	0.33
Exercised \| $ / shares
Ending Balance \| $ / shares	$ 0.06
Weighted Average Remaining Contractual Life (in years) Beginning	5 months 1 day
Weighted Average Remaining Contractual Life (in years) Outstanding Ending	5 years 4 months 2 days

XML 55 R46.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS’ DEFICIT (Details Narrative) - USD ($)	3 Months Ended
STOCKHOLDERS’ DEFICIT (Details Narrative) - USD ($)	Jul. 31, 2015	Apr. 30, 2016	May 18, 2015	May 08, 2015	Apr. 30, 2015	Mar. 07, 2012
Common stock, Issued	57,148,313				57,188,313
Common stock, Authorized	1,000,000,000				1,000,000,000
Common stock value	$ 57,150				$ 57,189
Common stock, par value	$ 0.001				$ 0.001
Convertible notes payable					$ 129,967
Common stock payable	$ 4,879,256				$ 90,000
Common stock warrants	10,000
Number of options	2,000,000	2,000,000			2,000,000	2,000,000
Stock options exercisable	$ 0.35	$ 0.35			$ 0.35	$ 0.35
Anti-dilution provisions	3,289,192
Common stock reserved	2,733,794
Derivative liabilities	$ 303,830
Cancellation of common stock	40,000
Increase in additional paid-in capital	$ 39
Private placement for cash	15,000
Related transaction	15,000
Common Stock Payable [Member]
Conversion price per shares				$ 0.01
Market Price per share				$ 0.015
Loss on extinguishment of debt				$ 975,000
Convertible notes payable				$ 1,950,000
Convertible notes payable into shares				194,999,999
Common stock payable	$ 2,925,000
Stock Issuances [Member]
Common stock, Issued			123,283,700
Preferred Shares conversion			1,000,000
Preferred Shares conversion value			$ 1,000,000
Accrued dividends			$ 410,685
Accrued dividends conversion shares			123,283,700
Conversion price per shares			$ 0.01
Common stock value			$ 1,849,256
Common stock, par value			$ 0.015
Loss on extinguishment of debt			$ 438,571
Authorized Shares [Member]
Common stock, Authorized	3,000,000,000
Preferred stock Authorized	10,000,000

XML 56 R47.htm IDEA: XBRL DOCUMENT

NON-CONTROLLING INTERESTS (Details Narrative) - shares	Apr. 30, 2012	Dec. 21, 2010	Sep. 23, 2010	Mar. 22, 2010
AHGC [Member]
Controling interest		100.00%	98.12%
Non-controlling interest		1.88%
Exchange shares		31,334
Acquired of AMC				14.60%
Additional interest	4.00%
Total interest	98.60%
MCCH [Member]
Controling interest			100.00%
MCC [Member]
Controling interest			80.00%
CC [Member]
Controling interest			95.00%
AMC [Member]
Controling interest			80.00%

XML 57 R48.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Apr. 26, 2010 USD ($)
Commitments And Contingencies Details Narrative
Minimum lease payment	$ 62,541

XML 58 R49.htm IDEA: XBRL DOCUMENT

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Jan. 31, 2017	Jan. 26, 2017	Jan. 25, 2017	Jan. 24, 2017	Jan. 23, 2017	Jan. 18, 2017	Jan. 13, 2017	Jan. 12, 2017	Jan. 11, 2017	Jan. 10, 2017	Jan. 06, 2017	Jan. 04, 2017	Dec. 31, 2016	Dec. 07, 2016	Dec. 05, 2016	Nov. 30, 2016	Nov. 29, 2016	Nov. 28, 2016	Nov. 21, 2016	Nov. 16, 2016	Nov. 10, 2016	Nov. 04, 2016	Nov. 03, 2016	Oct. 31, 2016	Oct. 28, 2016	Jul. 31, 2016	May 02, 2016	Apr. 06, 2016	Nov. 10, 2015	Jul. 31, 2015	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014
Common stock, Authorized																														1,000,000,000	1,000,000,000
Convertible notes payable																														$ 195,001	$ 2,145,001
Cash																														$ 144	$ 141	$ 141	$ 434
Subsequent Event [Member] \| Convertible Notes Payable [Member]
Convertible notes payable into shares																											194,999,999
Common shares to a related party																													123,283,700
Subsequent Event [Member] \| Private Placement [Member]
Cash							$ 118,230
Services							60,000
Cash from related party							$ 49,200
Common shares	12,947,500						41,784,320						27,740,123													1,096,397
Warrants							43,025,313
Subsequent Event [Member] \| Private Placement [Member] \| Maximum [Member]
Common shares exercise price							$ 0.01
Subsequent Event [Member] \| Private Placement [Member] \| Minimum [Member]
Common shares exercise price							$ 0.0001
Subsequent Event [Member] \| Settlement Agreement and Stipulation [Member]
Payables																									$ 109,391
Common Stock issued as a settlement fee																								$ 7,000,000
Common stock issued to RCP		36,000,000	35,000,000		34,000,000	33,000,000		31,000,000	30,000,000	29,000,000	28,000,000	27,000,000		25,000,000	25,000,000	22,000,000		22,000,000	14,000,000	18,000,000	18,000,000	15,000,000	10,000,000
Subsequent Event [Member] \| Amendment of Articles of Incorporation [Member]
Increase in authorized common shares																												1,000,000,000
Increase in authorized preferred shares																												10,000,000
Common stock, Authorized																	3,000,000,000
Subsequent Event [Member] \| Consultant [Member]
Services				$ 5,725
Common shares				28,625,000
Subsequent Event [Member] \| Empolyee [Member]
Common shares				2,082,190
Accrued salaries				$ 208,219

EXCEL 59 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end

Nevada		26-1749145
(State or other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)

3616 Far West Blvd. #117-321 Austin, Texas 78731		855-880-0400
(Address of principal executive offices, including zip code)		(Issuer’s telephone number, including area code)

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	x
(Do not check if a smaller reporting company)

PART I – FINANCIAL INFORMATION

Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	23
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	29
Item 4.	Controls and Procedures	29

PART II – OTHER INFORMATION

Item 1.	Legal Proceedings	31
Item 1A.	Risk Factors	31
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	31
Item 3.	Defaults Upon Senior Securities	31
Item 4.	Mine Safety Disclosures	31
Item 5.	Other Information	31
Item 6.	Exhibits	32

	July 31, 2015			April 30, 2015
	(Unaudited)
Assets

Current assets:
Cash	$	144		$	141
Deferred loan costs – short term		-			8,822
Total current assets		144			8,963

Property and equipment, net		1,447			2,333

Other assets:
Deposits		10,000			10,000

Total assets	$	11,591		$	21,296

Liabilities and Stockholders’ Deficit

Current liabilities:
Accounts payable	$	665,905		$	669,709
Accounts payable – related party		-			8,033
Accrued expenses		1,180,422			1,187,052
Accrued expenses – related party		37,783			2,389,957
Notes payable, currently in default		375,000			375,000
Convertible notes payable, net of discount of $0 and $0 at July 31, 2015 and April 30, 2015, respectively, currently in default		195,001			2,145,001
Convertible preferred stock, currently in default		137,500			137,500
Derivative liabilities		303,830			-
Convertible notes payable – related party, net of discount of $0 and $17 at July 31, 2015 and April 30, 2015, respectively, currently in default		-			129,950
Preferred stock – mandatory redemption right, net of discount of $0 and $375,600 at July 31, 2015 and April 30, 2015, respectively		-			624,400
Total current liabilities		2,895,441			7,666,602

Commitments and contingencies

Stockholders’ deficit:
Common stock; $0.001 par value, 1,000,000,000 shares authorized, 57,148,313 and 57,188,313 shares issued and outstanding at July 31, 2015 and April 30, 2015, respectively		57,150			57,189
Common stock payable		4,879,256			90,000
Additional paid-in capital		22,428,158			20,215,398
Non-controlling interest		(375,244	)		(374,781	)
Accumulated (deficit)		(29,873,170	)		(27,633,112	)
Total stockholders’ deficit		(2,883,850	)		(7,645,306	)

Total liabilities and stockholders’ deficit	$	11,591		$	21,296

	Three Months Ended July 31,
	2015			2014

Revenues	$	-		$	-

Operating expenses:
Selling, general and administrative expenses		101,344			195,228
Depreciation and amortization		886			1,251

Total operating expenses		102,230			196,479

Loss from operations		(102,230	)		(196,479	)

Other (expense):
Interest expense		(420,890	)		(122,530	)
Loss on derivative liabilities		(303,830	)		-
Loss on extinguishment of debt		(1,413,571	)		-

Total other (expense)		(2,138,291	)		(122,530	)

Loss before income taxes		(2,240,521	)		(319,009	)
Provision for income taxes		-			-

Net loss		(2,240,521	)		(319,009	)

Non-controlling interest in loss of consolidated subsidiaries		463			253

Net loss attributable to the Company	$	(2,240,058	)	$	(318,756	)

Weighted average number of common shares outstanding – basic and diluted		57,188,313			57,188,313

Net loss per common share – basic and diluted	$	(0.04	)	$	(0.01	)

Supplemental disclosure:
Interest paid	$	-		$	-
Income taxes paid		-			-
Debt discount on issuance of warrants		-			114
Adjustment to common stock and additional paid-in capital		(39	)		-
Accrued expenses contributed to capital		2,063,468			-
Preferred stock and accrued dividends converted to common stock payable		(1,410,685	)		-
Notes payable converted to common stock payable		1,950,000			-
Notes payable – related party contributed to capital		149,253			-

Name of Entity	%			Form of Entity	State of Incorporation	Relationship

MMEX Resources Corporation (“MMEX”)		-		Corporation	Nevada	Parent
MCC Merger, Inc. (“MCCM”)		100	%	Corporation	Delaware	Holding Subsidiary
Maple Carpenter Creek Holdings, Inc. (“MCCH”)		100	%	Corporation	Delaware	Subsidiary
Maple Carpenter Creek, LLC (“MCC”)		80	%	LLC	Nevada	Subsidiary
Carpenter Creek, LLC (“CC”)		95	%	LLC	Delaware	Subsidiary
Armadillo Holdings Group Corp. (“AHGC”)		100	%	Corporation	British Virgin Isles	Subsidiary
Armadillo Mining Corp. (“AMC”)		98.6	%	Corporation	British Virgin Isles	Subsidiary

	Accounts Payable		Accounts Payable – Related Party		Accrued Expenses		Notes Payable
Hanks:
Accrued compensation	$	-	$	-	$	883,584	$	-
Accounts payable		-		8,033		-		-
Notes payable		-		-		-		39,337
Accrued interest payable		-		-		5,901		-
Lemons:
Accrued consulting fees		-		-		791,315		-
Notes payable		-		-		-		63,530
Accrued interest payable		-		-		9,320		-
Katabi:
Accounts payable		5,536		-		-		-
Accrued consulting fees		-		-		375,000		-
Notes payable		-		-		-		27,100
Accrued interest payable		-		-		4,065		-

Total	$	5,536	$	8,033	$	2,069,185	$	129,967

	·	MMEX principal shareholders and directors are also principals in a privately held U.S. oil and gas company, Maple Resources Corporation ('Maple") based in Austin, Texas.
	·	The MMEX management team has over 30 years of experience in natural resource project development and project financing in North and South America and the U.K.
	·	MMEX directors and principal shareholders with oil, gas, refining and electric power experience will bring this expertise into the Company.

	·	As of July 31, 2015, we did not maintain effective controls over the control environment. Specifically, the Board of Directors does not currently have any independent members and no director qualifies as an audit committee financial expert as defined in Item 407(d)(5)(ii) of Regulation S-B. Since these entity level programs have a pervasive effect across the organization, management has determined that these circumstances constitute a material weakness.

	·	As of July 31, 2015, we did not maintain effective controls over financial statement disclosure. Specifically, controls were not designed and in place to ensure that all disclosures required were originally addressed in our financial statements. Accordingly, management has determined that this control deficiency constitutes a material weakness.

31.1*		Certification by Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a)

32.1*		Certification by Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS**		XBRL Instance Document

101.SCH**		XBRL Taxonomy Extension Schema Document

101.CAL**		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF**		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB**		XBRL Taxonomy Extension Label Linkbase Document

101.PRE**		XBRL Taxonomy Extension Presentation Linkbase Document

*	Filed herewith.

**	Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or Section 18 of the Securities Act of 1934 and otherwise are not subject to liability.

	MMEX Resources Corporation

Dated: January 30, 2017	By:	/s/ Jack W. Hanks
		Jack W. Hanks
		Chief Executive Officer (Principal Executive Officer), President and Chief Financial Officer (Principal Financial and Accounting Officer)

1.	I have reviewed this Quarterly Report on Form 10-Q of MMEX Resources Corporation.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exhibit Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	(1)	The Report fully complies with the requirements of Sections 13(a) or 15(d) of the Securities Exchange Act of 1934; and

	(2)	Information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.