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Other Liabilities
12 Months Ended
Apr. 30, 2012
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]  
Other Liabilities Disclosure [Text Block]

NOTE 10 – BOND PAYABLE 

 

On April 30, 2012, upon acquisition, DTS8 Holdings Co. Ltd, we issued a Bond Payable for $4,000,000 in favor of the vendor; Sean Tan. The bonds are payable at the end of sixty (60) calendar months; April 29, 2017, or earlier on a mutually agreed date. The bonds payable bear an interest rate of three percent (3%) per annum. Interest on the bond are calculated, accrued and paid annually.  The Company recognized as expense $90,301 as discount on bond payable as of April 30, 2012. The discount rate was 3.5% and will be amortized using the effective interest method over the life of the bond.  

 

NOTE 11 – OTHER PAYABLE 

 

On April 30, 2012, upon acquisition, DTS8 Holdings Co. Ltd, we assumed other payable of $382, 396.  The amounts owned as Other Payable as of April 30, 2012 and 2011 were $382,396 and $7,159. The amount is unsecured, non-interest bearing, has no fixed term of repayment, and is repayable on demand, and the lender has agreed not to demand payment within the next fiscal year.