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COMMITMENTS AND CONTINGENCIES
12 Months Ended
Apr. 30, 2016
COMMITMENTS AND CONTINGENCIES [Text Block]

NOTE 9. COMMITMENTS AND CONTINGENCIES

In May 2016, the Company received certain informal inquiry from the Commission regarding trading activity in our common stock and the Company is currently in the process of responding to such inquiry. The inquiry requires that the Company provide certain categories of documents to the Commission. The Commission indicated in its inquiry that it should not be construed as an indication that any violation of any federal securities laws has occurred or as a reflection upon the merits of any person, company, or securities involved. The inquiry is a confidential non-public fact finding request. It is not possible at this time to predict the outcome of the inquiries, including whether or when any proceedings might be initiated, when these matters may be resolved or what, if any, penalties or other remedies may be imposed. The Company has been, and intend to continue, voluntarily cooperating fully with the SEC. The scope and outcome of this matter cannot be determined at this time. The Company has expended significant resources to the Internal Investigation (see NOTE 7) and responding to the Commission’s inquiry. Failure to resolve such matters favorably could harm tradability of our common stock and our reputation significantly and could result in a loss of your investment in our stock.