INCOME TAXES

3 Months Ended

Jul. 31, 2015

INCOME TAXES [Text Block]

NOTE 8. INCOME TAXES.

Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. As of July 31, 2015, the Company had net operating loss carry forwards of approximately $13,636,000 that may be available to reduce future years’ taxable income through tax year 2035.