10-Q/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C.  20549 FORM 10-Q/A [√]           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2018 Commission file number: 333-175941 MCIG, INC. (Exact name of registrant as specified in its charter)
NEVADA	27-4439285
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
4720 Salisbury Road Jacksonville, FL	32256
(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code	570-778-6459
2901 Highland Drive, Unit 13B, Las Vegas, NV 89109
(Former name and address, if changed since last report)
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
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
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   [√]
(Do not check if 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 [√]
As of March 15, 2018, the Company had 415,310,809 shares of common stock, $0.0001 par value outstanding.
Transitional Small Business Disclosure Format     Yes [ ] No [√]

EXPLANATORY NOTE – AMENDMENT

mCig, Inc. (the “Company”) is filing this Amendment #1 on Form 10-Q/A (the Amendment”) to the Company’s quarter report on Form 10-Q for the period ended January 31, 2018 (the “Form 10-Q”), filed with the Securities and Exchange Commission on March 16, 2018 (the “Original Filing Date”), is solely for the purpose of furnishing Exhibit 101 – Interactive Data File (XBRL Exhibit) required by Rule 405 of Regulation S-T, which was not included with the Original Filing.

No other changes have been made to the Form 10-Q. This Amendment speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update in any way disclosures made in the original Form 10-Q.

2

Item 6. Exhibits
31.1	Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1 *	Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2 *	Certification of Principal Financial Officer 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
		* Furnished herewith.
3

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.

	mCig, Inc.
Dated:  April 19, 2018		/s/ Paul Rosenberg
	By:	Paul Rosenberg
	Its:	Chief Executive Officer (Principal Executive Officer)

Dated:  April 19, 2018		/s/ Michael W. Hawkins
	By:	Michael W. Hawkins
	Its:	Chief Financial Officer (Principal Financial Officer)

EX-31.1

EXHIBIT 31.1

Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer

I, Paul Rosenberg, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of mCig, Inc.;

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 Exchange 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: April 19, 2018
		/s/ Paul Rosenberg
	By:	Paul Rosenberg
	Its:	Chief Executive Officer (Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer

I, Michael Hawkins, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of mCig, Inc.;

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 Exchange 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: April 19, 2018
		/s/ Michael W. Hawkins
	By:	Michael W. Hawkins
	Its:	Chief Financial Officer (Principal Financial Officer)

EX-32.1

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 on Form 10-Q for the quarter ended January 31, 2018 of mCig, Inc. (the “Company”), as filed with the Securities and Exchange Commission on or about the date hereof (the “Report”), I, Paul Rosenberg, President of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 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: April 19, 2018
		/s/ Paul Rosenberg
	By:	Paul Rosenberg
	Its:	Chief Executive Officer
		(Principal Executive Officer)

This certification accompanies this report on Form 10-Q pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed filed by the Company for purpose of Section 18 of the Securities Exchange Act of 1934, as amended.

EX-32.2

EXHIBIT 32.2

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 on Form 10-Q for the quarter ended January 31, 2018 of mCig, Inc. (the “Company”), as filed with the Securities and Exchange Commission on or about the date hereof (the “Report”), I, Michael Hawkins, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 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: April 19, 2018
		/s/ Michael W. Hawkins
	By:	Michael W. Hawkins
	Its:	Chief Financial Officer
		(Principal Financial Officer)

This certification accompanies this report on Form 10-Q pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed filed by the Company for purpose of Section 18 of the Securities Exchange Act of 1934, as amended.

XML

Document and Entity Information - shares

9 Months Ended

Jan. 31, 2018

Mar. 15, 2018

Document And Entity Information

Entity Registrant Name

mCig, Inc.

Entity Central Index Key

0001525852

Document Type

10-Q/A

Document Period End Date

Jan. 31, 2018

Amendment Flag

true

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?

Yes

Entity Filer Category

Smaller Reporting Company

Entity Common Stock, Shares Outstanding

415,310,809

Document Fiscal Period Focus

Q3

Document Fiscal Year Focus

2018

Amendment Description

mCig, Inc. (the “Company”) is filing this Amendment #1 on Form 10-Q/A (the Amendment”) to the Company’s quarter report on Form 10-Q for the period ended January 31, 2018 (the “Form 10-Q”), filed with the Securities and Exchange Commission on March 16, 2018 (the “Original Filing Date”), is solely for the purpose of furnishing Exhibit 101 – Interactive Data File (XBRL Exhibit) required by Rule 405 of Regulation S-T, which was not included with the Original Filing.

No other changes have been made to the Form 10-Q. This Amendment speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update in any way disclosures made in the original Form 10-Q.

XML

Consolidated Balance Sheets - USD ($)	Jan. 31, 2018	Apr. 30, 2017
Current Assets
Cash and cash equivalents	$ 679,951	$ 1,634,662
Accounts receivable, net	2,152,255	149,968
Inventory	50,803	54,278
Notes receivable	1,530	1,529
Prepaid expenses	41,715	147,015
Total current assets	2,926,254	1,987,452
Property, plant and equipment, net	3,258,738	3,070,497
Cost basis investment	952,023	902,023
Intangible assets, net	993,085	1,018,302
Total assets	8,130,100	6,978,274
Current liabilities
Accounts payable and accrued expenses	143,720	779,995
Due to shareholder	486,666	173,312
Other current liabilities	3,100	150,000
Reserve for uncollected accounts	431,409	11,030
Deferred revenue	13,010	517,033
Total current liabilities	1,077,905	1,631,370
Total Liabilities	1,077,905	1,631,370
Stockholder equity
Preferred stock, $0.0001 par value; 50,000,000 shares authorized; 11,850,000 and 12,850,000 shares issued and outstanding, as of October 31, 2017 and April 30, 2017, respectively.	1,185	1,285
Common stock, $0.0001 par value, voting; 560,000,000 shares authorized; 415,310,809 and 386,094,258 shares issued, and outstanding, as of January 31, 2018 and April 30, 2017, respectively.	41,531	38,609
Treasury stock	(680,330)	(680,330)
Additional paid in capital	12,538,696	11,118,841
Accumulated deficit	(4,778,465)	(5,131,501)
Total stockholders equity	7,122,617	5,346,904
Non-Controlling Interest	(70,422)
Total Equity	7,052,195
Total liabilities and stockholders equity	$ 8,130,100	$ 6,978,274

XML

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2018	Apr. 30, 2017
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	560,000,000	560,000,000
Common Stock, Issued	415,310,809	386,094,258
Preferred Stock, Par Value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Issued	11,850,000	12,850,000

XML

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Statement of Cash Flows [Abstract]
Sales	$ 780,241	$ 1,362,689	$ 6,006,252	$ 2,237,405
Construction costs	31,320		2,663,181
Merchandise	257,960		756,970
Commissions	18,893		56,307
Amortization & depreciation associated with sales	115,495		199,455
Merchant fees, shipping, and other costs	44,658	1,074,459	397,394	1,655,692
Total Cost of Sales	468,326	1,074,459	4,073,228	1,655,692
Gross Profit	311,915	288,230	1,933,024	581,713
Selling, general, and administrative	84,033	67,360	241,786	160,965
Professional fees	65,043	6,240	106,056	20,030
Stock based compensation	233,500	(91,203)	278,750	179,647
Marketing & advertising	13,345		25,503
Research and development	513		4,634
Consultant fees	430,092	101,169	962,209	208,980
Amortization and depreciation	10,581	13,486	31,472	35,140
Total operating expenses	837,107	97,052	1,650,410	604,762
Income (Loss) from operations	(525,192)	191,178	282,614	(23,049)
Other income		654,033		711,054
Net income (loss) before non-controlling interest	(525,192)	845,211	282,614	688,005
Gain (loss) attributable to non-controlling interest	70,422	(5,341)	70,422	(11,039)
Net income (loss) attributable to controlling interest	$ (454,770)	$ 850,552	$ 353,036	$ 699,044
Basic and diluted (Loss) per share:
Income(Loss) per share from continuing operations	$ 0.00	$ (0.00)	$ 0.00	$ (0.00)
Income(Loss) per share	$ 0.00	$ (0.00)	$ 0.00	$ (0.00)
Weighted average shares outstanding - basic and diluted	392,843,133	342,035,457	392,843,133	331,114,006

XML

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Cash flows from operating activities:
Net (Loss)	$ 282,614	$ 688,005
Adjustments to reconcile net loss to net Cash provided by (used in) operating activities:
Depreciation and amortization	230,927	35,140
Common stock issued for services	278,750
Decrease (Increase) in:
Accounts receivable, net	(2,002,287)	(567,060)
Inventories	3,475	(64,914)
Prepaid expenses and other current assets	105,300	(193,840)
Accounts payable, accrued expenses and taxes payable	(783,176)	958
Deferred revenue	(504,023)	84,355
Reserve for uncollectable accounts	420,379
Total adjustment to reconcile net income to net cash	(2,250,655)	(705,362)
Net cash provided In operating activities	(1,968,041)	(17,356)
Cash flows from investing activities:
Net cash received from acquisition	(50,000)	(152,023)
Acquisition of property, plant and equipment	(388,897)	(6,621)
Acquisition of intangible assets	(5,054)	(27,584)
Net cash received in investing activities	(443,951)	(186,228)
Cash Flows from Financing Activities:
Borrowing from related party	313,354	(58,945)
Notes Payable
Treasury Stock
Proceeds from Issuance of Stock, Net	1,143,927	602,475
Net Cash Provided By (Used in) Financing Activities	1,457,281	543,530
Net Change in Cash	(954,711)	339,946
Cash at Beginning of Year	1,634,662	80,542
Cash at End of Period	679,951	420,488
Supplemental Disclosure of Cash Flows Information:
Cash paid for interest
Cash paid for income taxes
Non-cash Investing and Financing Activities:
OBITX proceeds from issuance of stock	275,650
Conversion of preferred stock to common stock		1,000
Purchase of Domains and Websites		248,893
Purchase of CHO Brand and Intellectual Property		53,276
Settlement of Vapolution, Net		(26,959)
Purchase of Agri-Contractors		$ 160,008

XML

Organization and Basis of Presentation

9 Months Ended

Jan. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

The accompanying consolidated audited financial statements of mCig, Inc., (the “Company”, “we”, “our”), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”).

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany accounts and transactions have been eliminated.

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, NYAcres, Inc., (“NYACRES”), Grow Contractors Inc., (“GROW”), mCig Internet Sales, Inc., (“MINT”), mCig Limited LTD (“MCIG Europe”), Tuero Capital, Inc., (“TUERO”), Tuero Asset Management, LLC (“TAM”), Vapolution, Inc., (“VAPO”), and VitaCig, Inc., (“VITA”), and its majority controlled subsidiary OBITX, Inc., (“OBITX”)

Description of Business

The Company was incorporated in the State of Nevada on December 30, 2010 originally under the name Lifetech Industries, Inc. Effective August 2, 2013, the name was changed from "Lifetech Industries, Inc." to "mCig, Inc." reflecting the new business model.  All agreements related to the Lifetech business were terminated and closed as of April 30, 2014. It will not have any impact on the current and future operations because all of these agreements are related to the previous business directions of the Company.

The Company initially earned revenue through wholesale and retail sales of electronic cigarettes, vaporizers, and accessories in the United States. It offered electronic cigarettes and related products through its online store at www.mcig.org, as well as through the company’s wholesale, distributor, and retail programs. We expanded operations to include the VitaCig brand in 2014.

The Company has been involved in the marijuana, cannabinoid (CBD), and electronic cigarette industries.  It currently markets, sales, services, and distributes cannabis wholesale supplies, CBD products, software, and electronic cigarettes, vaporizers, and accessories internationally and in the United States.

In FY2015 we began offering hemp based cannabinoid (“CBD”) products through various websites and wholesale distribution.  In 2016 the Company expanded its products and services to include construction.  In 2017 we added consulting services in the cannabis industry.  In addition, we launched a social media platform, 420Cloud, in the cannabis markets.  In November 2017 we entered into a joint venture project (“NYAcres Project”) with the FarmOn! Foundation in Copake, New York to grow hemp on a 212-acre farm.

The Company continues to look at strategic acquisitions and product and service developments for future growth.  We are currently incubating a cannabis supply company.

Subsidiaries of the Company

The Company currently operates, in addition to mCig, Inc., eight wholly owned subsidiaries, and one majority controlled subsidiary, which are consolidated:

Grow Contractors Inc.

The Company incorporated Grow Contractors Inc., on December 5, 2016.  Grow Contractors Inc, operates the construction and consulting segment.  On November 18, 2016 Grow Contractors Inc., the Company purchased Agri-Contractors, LLC and subsequently merged operations with Grow Contractors Inc. Agri-Contractors, LLC will be absorbed by Grow Contractors Inc., over a period of time yet to be determined.  Grow Contractors Inc., is a wholly owned subsidiary of the Company.

mCig Internet Sales, Inc.

On June 1, 2016, the Company incorporated mCig Internet Sales, Inc., (“mCig Internet”) in the state of Florida in order to operate our CBD business and to consolidate all wholesale and online retail sales from various websites.  mCig Internet is a wholly owned subsidiary of the Company.  

mCig Limited, LTD.

We incorporated in May 2017 to provide corporate oversight to MCIG, and its subsidiaries, operations within the European theatre. mCig Limited., was incorporated in the United Kingdom. mCig Limited, is a wholly owned subsidiary of the Company.

NYAcres, Inc.

We incorporated in November 2017 to provide a mechanism in which to enter into a joint venture project with FarmOn! Foundation.  NYAcres is a wholly owned subsidiary of the Company.

OBITX, Inc.

We incorporated OBITX, Inc., under the name GigETech, Inc., in the state of Delaware on March 30, 2017.  We then assigned our newly acquired social media platform software to OBITX.  We launched the social media platform on April 20, 2017. OBITX was a wholly owned subsidiary of the Company through October 31, 2017.  On November 1, 2017 implemented several consulting agreements, raised its own capital, and subsequent to this reporting period, on February 9, 2018 filed a Form S-1 Registration Statement to effectuate a spin-off of OBITX into its own separate entity.

Tuero Capital, Inc.

We incorporated in May 2017 to provide financial services in support of the cannabis industry. Tuero Capital, Inc., was incorporated in the state of Florida, and is a wholly owned subsidiary of the Company.

Tuero Asset Management Corp

We incorporated on September 1, 2017 for the legal purpose of ownership of all of MCIG’s tangible and intangible assets. Tuero Asset Management Corp was incorporated in the state of Florida, and is a wholly owned subsidiary of the Company.

Vapolution, Inc.

On January 23, 2014, the Company entered into a Stock Purchase Agreement acquiring 100% ownership in Vapolution, Inc., which manufactures and retails home-use vaporizers. As part of this transaction, .mCig, Inc. issued 5,000,000 common shares to shareholders of Vapolution, Inc. in two separate payments of 2,500,000 common shares. The shareholders of Vapolution, Inc. retained the right to rescind the transaction, which expired on January 23, 2015 but was extended to May 23, 2015. Subsequently, on August 25, 2015, the final payment to the shareholders of Vapolution as extended to September 30, 2015 and the right to rescind the transaction was extended to June 30, 2017.  On April 30, 2015 the Company impaired the $625,000 initial investment into Vapolution, Inc., but maintains the $67,500 investment on its balance sheet for the second payment.

On January 23, 2014, Paul Rosenberg, CEO of mCig, Inc. cancelled an equal amount (2,500,000 shares) of common shares owned by him resulting in a net non-dilutive transaction to existing mCig, Inc. shareholders. The remaining 2,500,000 of common shares owned by Paul Rosenberg were cancelled to offset the 2,500,000 new shares issued from the treasury to complete the purchase of Vapolution, Inc.

On January 17, 2017 the Company entered into a settlement agreement with the previous owners of Vapolution, Inc., whereby they returned to the Company 1,700,000 shares of MCIG common stock, $961 in cash, and $40,541 in inventory. Prior to this, Vapolution was not incorporated in to the consolidated financial statements of the Company.  Effective January 17, 2017 we began consolidating Vapolution with the Company’s financial reports.  Vapolution, Inc., is wholly owned by mCig, Inc. 

VitaCig, Inc.

On May 26, 2016 we incorporated VitaCig, Inc., (“VitaCig”) in the state of Florida.  VitaCig headquarters our global e-cig operations.  VitaCig, Inc., is a wholly owned subsidiary of the Company.

XML

Summary of Significant Accounting Policies

9 Months Ended

Jan. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include the accounts of the Company, the wholly owned subsidiaries of GROW, MINT, MCIG Europe, NYACRES, OBITX, TUERO, TAM, VAPO, and VITA for the quarter ended January 31, 2018. Significant intercompany balances and transactions have been eliminated.

Concentration of Credit Risk and Significant Customers

Financial instruments which potentially subject the Company to a concentration of credit risk consist principally of temporary cash investments and accounts receivable.  The Company places its temporary cash investments with financial institutions insured by the FDIC.

Concentrations of credit risk with respect to trade receivables are limited due to the diverse group of customers to whom the Company sells. The Company establishes an allowance for doubtful accounts when events and circumstances regarding the collectability of its receivables warrant based upon factors such as the credit risk of specific customers, historical trends, other information and past bad debt history. The outstanding balances are stated net of an allowance for doubtful accounts.

For the three months ended January 31, 2018, there were no significant customers.  For the nine months ended January 31, 2018 sales to the Company’s primary three customers accounted for approximately 57.5% of revenue. The following chart shows the segments in which the top three customers were reported: 

Primary Customers
Nine Months ended January 31, 2018	Amount	% of Total Sales
Construction Customer	1,042,804	17.4%
Media Customer	1,250,000	20.8%
Supply Customer	1,159,333	19.3%
Total	3,452,137	57.5%

Segment Information

In accordance with the provisions of SFAS No. 131, Disclosures about Segments of an Enterprise and Related Information, the Company is required to report financial and descriptive information about its reportable operating segments. The Company identifies its operating segments as divisions based on how management internally evaluates separate financial information, business activities and management responsibility. In addition to the corporate segment, the Company segments and the subsidiaries associated with each segment are as follows: 

Segment	Subsidiary
Construction and Consulting	Grow Contractors, Inc.
CBD	mCig Internet Sales, Inc.
Vaporizer	VitaCig, Inc.
Media	OBITX, Inc. (formerly known as GigeTech, Inc) Tuero Capital, Inc.
Cannabis Supplies	Vapolution, Inc.
Corporate	mCig, Inc. Tuero Asset Management Corp
Agriculture	NYAcres, Inc.

We began recording segments in fiscal year 2017 (ending April 30, 2017).  We report our financial performance based on the segments described in Note 8 – Segment Information. 

Business Segments
	Total Revenue		Percentage of Total Revenue
	Three Months Ended January 31,		Three Months Ended January 31,
	2018	2017	2018	2017
Consulting and Construction	$         118,195	$      1,090,982	15.1%	80.1%
CBD	28,218	133,869	3.6%	9.8%
Vaporizers	73,353	137,838	9.4%	10.1%
Media	75,906	-	9.7%	0.0%
Supplies	484,569	-	62.1%	0.0%
Agriculture	-	-	0.0%	0.0%
Corporate	-	-	0.0%	0.0%
Total	$         780,241	$      1,362,689	100.0%	100.0%

Business Segments
	Total Revenue		Percentage of Total Revenue
	Nine Months Ended January 31,			Nine Months Ended January 31,
	2018	2017		2018	2017
Consulting and Construction	$      3,112,545	$      1,340,844		51.8%	59.9%
CBD	56,064	310,534		0.9%	13.9%
Vaporizers	336,254	586,027		5.6%	26.2%
Media	1,342,056	-		22.3%	0.0%
Supplies	1,159,333	-		19.3%	0.0%
Agriculture	-	-		0.0%	0.0%
Corporate	-	-		0.0%	0.0%
Total	$      6,006,252	$      2,237,405		100.0%	100.0%

Inventory

In accordance with ASU 2015-11 – Inventory (Topic 330) – Simplifying the Measurement of Inventory, the Company’s inventory consists of finished product, mCig products valued at the lower of cost or market valuation under the first-in, first-out method of costing.

As of January 31, 2018, the Company had no allowance for obsolescence. The level of inventory maintained by the Company is insignificant and is typically ordered on an as needed basis, or just-in-time. 

Property, Plant, and Equipment

Property, plant and equipment (“PPE”) are stated at cost less accumulated depreciation and amortization.  Expenditures for maintenance and repairs are charged to expense as incurred.  Additions, improvements and major replacements that extend the life of the asset are capitalized.

Depreciation and amortization is recorded using the straight-line method over the estimated useful lives of depreciable assets, which are generally three to five years.

The Company classifies its software under the Financial Accounting Standards Advisory Board (FASAB) Statement of Federal Financial Accounting Standards (SFFAS) No. 10, Accounting for Internal Use Software, and the Governmental Accounting Standards Board (GASB) Statement No. 42, Accounting of Costs of Computer Software Developed or Obtained for Internal Use. When software is used in providing goods and services it is classified as PPE.  The Company considers its 420 Cloud software as a major part of the Company’s operations that is intended to provide profits.

Accounts Receivable

The Company reviews all outstanding accounts receivable for collectability on a quarterly basis. An allowance for doubtful accounts is recorded for any amounts deemed uncollectable. The Company does not accrue interest receivable on past due accounts receivable. The Company recognized $418,460 and $0 as an uncollectable reserve for the nine months ending January 31, 2018 and January 31, 2017, respectively.

Intangible Assets

The Company’s intangible assets consist of certain website development costs that is amortized over their useful life in accordance with the guidelines of ASC 350-30 General Intangible Other than Goodwill and ASC 350-50 Website Development Costs.  In addition to these finite intangible assets, the Company accounts for its infinite intangible assets without depreciation and/or amortization.  These assets are reviewed annually by an independent review to determine if an impairment should be recognized.  No impairment was warranted for the Company’s infinite intangible assets.

Basic and Diluted Net Loss Per Share

The Company follows ASC Topic 260 – Earnings Per Share, and FASB 2015-06, Earnings Per Share to account for earnings per share.  Basic earnings per share (“EPS”) calculations are determined by dividing net loss by the weighted average number of shares of common stock outstanding during the year.  Diluted earnings per share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding.  During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. 

Basic net earnings (loss) per common share are computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period. Dilutive common stock equivalent shares consist of Series A convertible preferred stock, convertible debentures, stock options and warrant common stock equivalent shares.

Concentration of Credit Risk 

Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash and trade receivables.  Concentrations of credit risk with respect to trade receivables are limited due to the clients that comprise our customer base and their dispersion across different business and geographic areas.  We estimate and maintain an allowance for potentially uncollectible accounts and such estimates have historically been within management's expectations.  

We rely almost exclusively on one Chinese factory as our principle supplier for our e-cig products. Therefore, our ability to maintain operations is dependent on this third-party manufacturer.

Our cash balances are maintained in accounts held by major banks and financial institutions located in the United States.  The Company may occasionally maintain amounts on deposit with a financial institution that are in excess of the federally insured limit of $250,000.  The risk is managed by maintaining all deposits in high quality financial institutions. The Company had $62,889 and $0 in excess of federally insured limits at January 31, 2018 and 2017.

Cost-Basis Investments

The Company’s non-marketable equity investment in the NYAcres Project, Cannabiz Supply, and Stony Hill Corp is recorded using the cost-basis method of accounting, and is classified within other long-term assets on the accompanying balance sheet as permitted by FASB ASC 325, “Cost Method Investments”. During the nine months ended January 31, 2018 and 2017 there were no impairment losses.

Equity-Basis Investments

The Company accounted for its original ownership of VitaCig, Inc., (Nevada) as an equity-basis investment. As of January 31, 2018, and January 31, 2017, there is no net book value of the ownership of VitaCig, as the pro-rata value after the Spin-off and the impairment of the investment in VitaCig. 

On June 22, 2016, the Company reduced its ownership of VitaCig, Inc., to 57,500,000 through a Separation and Transfer Agreement where the Company acquired the business operations of VitaCig in exchange for selling back to the treasury of VitaCig, Inc., (Nevada) 172,500,000. 

Warranties

Warranty reserves include management’s best estimate of the projected costs to repair or to replace any items under warranty, based on actual warranty experience as it becomes available and other known factors that may impact the Company’s evaluation of historical data. Management reviews mCig’s reserves at least quarterly to ensure that its accruals are adequate in meeting expected future warranty obligations, and the Company will adjust its estimates as needed. Initial warranty data can be limited early in the launch of a product and accordingly, the adjustments that are recorded may be material.. As a result, the products that can be returned as a warranty replacement are extremely limited. As a result, due to the Company’s warranty policy, the Company did not have any significant warranty expenses to report for the year ended April 30, 2017. Based on these actual expenses, the warranty reserve, as estimated by management as of January 31, 2018 and January 31, 2017 were at $0. Any adjustments to warranty reserves are to be recorded in cost of sales.

XML

Going Concern

9 Months Ended

Jan. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern

The Company's financial statements are prepared using generally accepted accounting principles, which contemplate the realization of assets and liquidation of liabilities in the normal course of business. Because the business is new and has a limited history and relatively few sales, no certainty of continuation can be stated. The accompanying financial statements for the three months and nine months ended January 31, 2018 and 2017 have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.

The Company has suffered losses from operations and has an accumulated deficit, which raise substantial doubt about its ability to continue as a going concern.

Management is taking steps to raise additional funds to address its operating and financial cash requirements to continue operations in the next twelve months. Management has devoted a significant amount of time in the raising of capital from additional debt and equity financing. However, the Company’s ability to continue as a going concern is dependent upon raising additional funds through debt and equity financing and generating revenue. There are no assurances the Company will receive the necessary funding or generate revenue necessary to fund operations. The financial statements contain no adjustments for the outcome of this uncertainty.

XML

Notes Payable

9 Months Ended

Jan. 31, 2018

Debt Disclosure [Abstract]

Notes Payable

The Company entered into a note of $150,000 with APO Holdings as part of the acquisition of the 420Cloud software in March 2017.  The note was due June 30, 2017.  The note was paid through conversion into common stock of the Company through a private placement on July 31, 2017.

XML

Property, Plant and Equipment

9 Months Ended

Jan. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The following is a detail of equipment at January 31, 2018 and April 30, 2017:

Property, Plant, and Equipment
	As of
	January 31, 2018		April 30, 2017
Office furniture	$	18,322	$	1,792
Rollies machine		5,066		5,066
Computer equipment		1,544		1,544
ATM machines		299,970		—
Agriculture tools and equipment		5,408		—
420 Cloud		3,132,177		3,063,635
Total acquisition cost	$	3,462,487	$	3,072,037
Accumulated depreciation		203,749		1,540
Total property, plant, and equipment	$	3,258,738	$	3,070,497

Depreciation expense on property, plant and equipment was $199,725 and $1,150 for the nine months ended January 31, 2018 and 2017, respectively.

XML

Accounts Receivable

9 Months Ended

Jan. 31, 2018

Accounts Receivable

Accounts Receivable

The Company’s accounts receivable is primarily from its construction and media segment. 

The Company maintains subscription receivables of $183,784 for the exercise of warrants and options.  The funds were not received prior to the filing of this report and as such are not incorporated in the balance sheet statement.  A complete breakdown of the accounts receivable and subscriptions receivable is as follows:

Accounts Receivable
	Amount
Construction receivables	593,457
Retail Sales receivables	1,384,420
Subscription receivables	358,162
Total accounts and subscription receivables	2,336,039
Subscription receivables not yet collected	183,784
Total accounts receivable	2,152,255

XML

Intangible Assets

9 Months Ended

Jan. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets, net amortization over five years for domain names and three years for websites, consisted of the following:

Intangible Assets
		As of
		January 31, 2018
	Weighted	Gross Carrying Amount	Accumulated Amortization
	Average			Net Carrying
	Useful Life			Amount
	(in Years)
		$	$	$
Finite lived intangible assets
Website Designs	5	65,857	23,161	42,696
VitaCBD, LLC	5	200,000	40,000	160,000
Total finite lived intangible assets		265,857	63,161	202,696
Infinite lived intangible assets
Internet domain names		363,348	-	363,348
Trademarks and intellectual properties		455,637	-	455,637
Total infinite lived intangible assets		818,985	-	818,985
Total Intangible Assets		1,084,842	63,161	993,084

Intangible Assets
		As of
		April 30, 2017
	Weighted	Gross Carrying Amount	Accumulated Amortization
	Average			Net Carrying
	Useful Life			Amount
	(in Years)
		$	$	$
Finite lived intangible assets
Website Designs	5	32,208	22,891	9,317
VitaCBD, LLC	5	200,000	10,000	190,000
Total finite lived intangible assets		232,208	32,891	199,317
Infinite lived intangible assets
Internet domain names		363,348	-	363,348
Trademarks and intellectual properties		455,637	-	455,637
Total infinite lived intangible assets		818,985	-	818,985
Total Intangible Assets		1,051,193	32,891	1,018,302

XML

Business Segments

9 Months Ended

Jan. 31, 2018

Segment Reporting [Abstract]

Business Segments

The Company operates primarily in five segments; i) construction and consulting, ii) vaporizers, iii) CBD, iv) media, v) cannabis supplies, vi) agriculture, and vi) corporate.

This summary reflects the Company's current segments, as described below.  

Information concerning the revenues and operating income (loss) for the three months ended January 31, 2018 and 2017, and the identifiable assets for the segments in which the Company operates are shown in the following table:  

Business Segments
For the Three Months Ended January 31, 2018	Construction	Vaporizers	CBD	Agriculture	Media	Supply	Corporate	Total
Revenue	$      118,195	$      73,353	$      28,218	$                -	$       75,906	$     484,569	$                 -	$      780,241
Segment Income (Loss) from Operations	(10,593)	4,229	(24,049)	(28,876)	(78,462)	49,352	(366,166)	(454,770)
Total Assets	785,985	262,724	46,059	(28,876)	4,717,014	101,708	2,245,486	8,130,100
Capital Expenditures	15,714	225	-	55,408	5,689	-	(3,076,467)	(2,999,431)
Depreciation and Amortization	130	181	90	-	115,495	-	10,180	126,076
For the Three Months Ended January 31, 2017	Construction	Vaporizers	CBD	Agriculture	Media	Supply	Corporate	Total
Revenue	$   1,090,982	$    137,838	$    133,869	$                -	$                -	$                -	$                 -	$   1,362,689
Segment Income (loss) from Operations	234,597	(29,727)	5,182	-	-	-	640,500	850,552
Total Assets	169,018	143,670	5,689	-	-	-	1,489,541	1,807,918
Capital Expenditures	3,554	59,327	-	-	-	-	246,105	308,986
Depreciation and Amortization	-	181	13,215	-	-	-	90	13,486

Information concerning the revenues and operating income (loss) for the nine months ended January 31, 2018 and 2017, and the identifiable assets for the segments in which the Company operates are shown in the following table:

Business Segments
For the Nine Months Ended January 31, 2018	Construction	Vaporizers	CBD	Agriculture	Media	Supply	Corporate	Total
Revenue	$   3,112,545	$    336,254	$      56,064	$                -	$  1,342,056	$  1,159,333	$                 -	$   6,006,252
Segment Income (Loss) from Operations	180,186	80,641	(25,802)	(28,876)	766,473	83,464	(694,752)	361,334
Total Assets	785,335	262,724	46,059	(28,876)	4,670,214	106,156	2,241,464	8,083,076
Capital Expenditures	15,714	225	-	55,408	256,089	-	(3,076,467)	(2,749,031)
Depreciation and Amortization	389	543	270	-	199,455	-	30,270	230,927
For the Nine Months Ended January 31, 2017	Construction	Vaporizers	CBD	Agriculture	Media	Supply	Corporate	Total
Revenue	$   1,340,844	$    586,027	$    310,534	$                -	$                -	$                -	$                 -	2,237,405
Segment Income from Operations	211,806	81,436	40,657	-	-	-	365,145	699,044
Total Assets	169,018	143,670	49,332	-	-	-	1,489,541	1,851,561
Capital Expenditures	3,554	59,327	-	-	-	-	246,105	308,986
Depreciation and Amortization	-	362	33,928	-	-	-	758	35,048

XML

NonGAAP Accounting and GAAP Reconciliation Net Income and EBITDA

9 Months Ended

Jan. 31, 2018

Notes to Financial Statements

NonGAAP Accounting and GAAP Reconciliation Net Income and EBITDA

The Company reports all financial information required in accordance with generally accepted accounting principles (GAAP). The Company believes, however, that evaluating its ongoing operating results will be enhanced if it also discloses certain non-GAAP information because it is useful to understand MCIG’s performance that many investors believe may obscure MCIG’s ongoing operational results.

For example, MCIG uses non-GAAP net income (Adjusted Net Income), which excludes stock-based compensation, amortization of acquired intangible assets, impairment of intangible assets, costs from acquisitions, restructurings and other infrequently occurring  items, non-cash deferred tax provision and litigation and related settlement costs. MCIG uses EBITDA and Adjusted Net Income, which adjusts net income (loss) for amortization of intangible assets, impairment of intangible assets, stock-based compensation, costs related to acquisitions, restructuring and other infrequently occurring items, settlement of litigation, gains or losses on dispositions, pro forma adjustments to exclude lines of business that have been acquired during the periods presented, current cash tax provision, depreciation, and interest expense (income), net.

The company believes that excluding certain costs from Adjusted Net Income and EBITDA provides a meaningful indication to investors of the expected on-going operating performance of the company. Whenever MCIG uses such historical non-GAAP financial measures, it provides a reconciliation of historical non-GAAP financial measures to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measure.

The following tables reflect the non-GAAP Consolidated Statements of Operations for the three months and nine months ended January 31, 2018 and January 31, 2017, respectively.

mCig, Inc.
and SUBSIDIARIES
Adjusted Consolidated Statements of Operations
(unaudited)
	For the three months ended January 31,		For the nine months ended January 31,
	2018	2017	2018	2017
Sales	$            780,241	$         1,362,689	$       6,006,252	$           2,237,405
Total Cost of Sales	352,831	1,074,459	3,873,773	1,655,692
Gross Profit	427,410	288,230	2,132,479	581,713
Selling, general, and administrative	84,033	67,360	241,786	160,965
Professional Fees	65,043	6,240	106,056	20,030
Marketing & Advertising	13,345	-	25,503	-
Research & Development	513	-	4,633	-
Consultant Fees	430,092	101,169	962,209	208,980
Depreciation	-	271	-	1,181
Total Operating Expenses	593,026	175,040	1,340,187	391,156
Income (Loss) From Operations	(165,616)	113,190	792,292	190,557
Other Income (Expense)	-	-	-	53,915
Net Income (Loss) Before Non-Controlling Interest	(165,616)	113,190	792,292	244,472
Gain (Loss) Attributable to Non-Controlling Interest	(70,422)	5,241	(70,422)	14,100
Net Income (Loss) Attributable to Controlling Interest	$           (95,194)	$            107,949	$         862,714	$              230,372
Basic and Diluted (Loss) Per Share:
Income(Loss) per share from Continuing Operations	$               (0.00)	$                  0.00	$                0.00	$                    0.00
Income(Loss) Per Share	$               (0.00)	$                  0.00	$                0.00	$                    0.00
Weighted Average Shares Outstanding - Basic and Diluted	392,843,133	342,035,457	392,843,133	331,114,006

The following table is a reconciliation of the EBITDA and Adjusted Net Income (non-GAAP measures) to the Net Income with the GAAP Consolidated Statements of Operation for the three months and nine months ended January 31, 2018 and January 31, 2017, respectively.

mCig, Inc.
and SUBSIDIARIES
Reconciliation of Adjusted Consolidated Statements of Operations
(unaudited)
	For the three months ended January 31,		For the nine months ended January 31,
Reconciliation	2018	2017	2018	2017
Net income (loss) attributable to controlling interest	(454,770)	850,552	353,037	699,044
Interest	-	-	-	(1,009)
Depreciation and Amortization	126,076	13,386	230,927	35,140
EBITDA	(328,694)	863,938	583,964	734,184
Adjustment for Non-Intangible Asset Depreciation	-	(271)	-	(1,181)
Stock Based Compensation	233,500	(91,203)	278,750	200,424
Settlement on Investment	-	(654,033)	-	(674,855)
Adjusted Net Income	(95,194)	118,431	862,714	258,572

XML

Acquisitions

9 Months Ended

Jan. 31, 2018

Business Combinations [Abstract]

Acquisitions

The Company considers FASB 805-10-55, Implementation Guidance and Illustrations for Business Combinations when accounting for acquisitions.  The Company has elected to implement ASU 2017-01, Clarifying the Definition of a Business although its required implementation date is for financial statements for periods beginning after December 15, 2017.  The Company believes the early implementation of ASU 2017-01 has no material effect on its financial reporting.

Vapolution, Inc.

On January 17, 2017, the Company acquired operational control of Vapolution, Inc., through a settlement agreement.  Under the terms of the settlement agreement the Company gained operational control of Vapolution, Inc., and the previous owners relinquished back to the Company 1,700,000 shares of MCIG common stock.

On January 23, 2014, the Company acquired Vapolution, Inc. for 5,000,000 shares of common stock.  The Company issued 2,500,000 on October 30, 2015 with the final installment of 2,500,000 issued on October 1, 2015.  In accordance with the agreement mCig, Inc. acquired 100% of Vapolution, Inc., but operational control for the following 10 years remained with the previous owners.  Furthermore, the previous owners retained the right to rescind the transaction until June 30, 2017.  As such, the Company continues to treat the investment into Vapolution, Inc., as an investment, not a consolidation.  The Company’s non-marketable equity investment in Vapolution was recorded using the cost-basis method of accounting, and was previously classified within other long-term assets on the accompanying balance sheet as permitted by FASB ASC 325, “Cost Method Investments”. During 2016 there were no impairment losses. During 2015 the Company recorded an impairment loss of $625,000 related to the investment in Vapolution.        

The settlement agreement with the previous owners of Vapolution, Inc., returned to the Company 1,700,000 shares of MCIG common stock, $961 in cash, and $40,541 in inventory.  In accordance to rule, the following table reflects the determination of the purchase price of the E-Cig business:  

Vapolution Business Acquisition Price
1,700,000 Shares of MCIG Stock at fair market value	$	680,000
Cash		961
Inventory		40,541
Total Purchase Price	$	721,502

In consideration of FASB 805-55-20 thru 23, Effective Settlement of a Preexisting Relationship Between the Acquirer and Acquiree in a Business Combination, the Company determined a preexisting contractual relationship existed, and that the purchase price would be the amount of the fair market value of the terms within the settlement agreement and subsequently reported as a gain in its financial statements.

An accounting of the transaction is as follows:

Vapolution Gain on Acquisition
Total purchase price	$	721,502
Original purchase price	$	692,500
FY 2015 Impairment recorded		625,000
Preexisting contractual relationship value at time of acquisition	$	67,500
Gain on acquisition	$	654,002

XML

Related Parties and Related Party Transactions

9 Months Ended

Jan. 31, 2018

Related Party Transactions [Abstract]

Related Parties and Related Party Transactions

On May 1, 2016 the Company entered into a Line of Credit Agreement for up to $100,000 with Paul Rosenberg, the Chairman and CEO.  The Company will utilize the Line of Credit as needed for day-to-day operations.  During this quarter the company utilized $200 under the Line of Credit Agreement and $2,000 was assigned to the Line of Credit from the assumed liability of the VitaCig acquisition to Paul Rosenberg (see Note 8).

On April 1, 2017, the Company entered into an employment agreement with Alex Mardikian, the Chief Marketing Officer.  The term of the agreement was for a period of one year.  The agreement calls for $84,000 per year base salary with various performance based incentives and bonuses.  Either party may terminate the agreement upon 30 days written notice to the other party.

On September 1, 2017 Mr. Michael Hawkins, the Company’s CFO exercised his option to acquire 5,416,551 shares of common stack for the price of $135,412.78.  The purchase was paid from Mr. Hawkins outstanding balance owed him in accounts payable.

On September 13, 2017 the Company entered into an agreement to provide social media and other advertising services to Render Payment, LLC.  Michael Hawkins, the then Chief Financial Officer, is a non-controlling member with greater than 10% ownership in Render Payment, LLC.  Under terms of the agreement, we were paid $1,250,000 which is currently outstanding.  

On September 23, 2017 the Company entered into an agreement with Carl G. Hawkins, the son Michael Hawkins, the Company’s CEO to act as corporate counsel.  The terms of the agreement was for $3,000 per month and 250,000 shares of common stock.  Mr. Carl Hawkins received an option to acquire 1,000,000 shares at $0.217 per share.

On October 1, 2017 Michael Hawkins agreed to a reduction of pay.  Mr. Hawkins pay was reduced from $13,500 per month to $10,500 per month.  As a condition for this reduction the Company vested one year of his stock options immediately. 

On December 2, 2017 Paul Rosenberg, the Company’s CEO and Chairman of the Board, converted 1,000,000 shares of Series A Preferred into 10,000,000 shares of common stock.

On November 1, 2017 OBITX, Inc., a subsidiary of MCIG, issued a seven year warrants for the purchase of 500,000 common shares of OBITX at the purchase price of $1.00 per share to Paul Rosenberg, the Company’s CEO.

On November 1, 2017 OBITX, Inc., a subsidiary of MCIG, issued a seven year warrants for the purchase of 500,000 common shares of OBITX at the purchase price of $1.00 per share to Epic Industry Corp, a single member company owned by Michael Hawkins, the Company’s CFO.

On November 1, 2017 FinTech Labs, LLC, a company in which Paul Rosenberg is a 50% owner, acquired 500,000 shares of OBITX at the purchase price of $50.

On November 1, 2017 Epic Industry Corp, a single member company owned by Michael Hawkins, acquired 250,000 shares of OBITX at the purchase price of $25.

On November 1, 2017 Paul Rosenberg invested $100,000 into OBITX.  Mr. Rosenberg received 1,000,000 shares of OBITX common stock in exchange for the investment.

On January 1, 2018 Paul Rosenberg invested $150,000 into OBITX.  Mr. Rosenberg received 1,500,000 shares of OBITX common stock in exchange for the investment.

On November 1, 2017, OBITX, Inc., entered into a consulting agreement with Alex Mardikian, the Chief Executive Officer and a consulting agreement with Brandy Craig, the Chief Financial Officer of the Company.  The terms of the Agreement are the same.  The agreements call for $7,000 per month for a period of one year. The payments may be booked as a note due, which may be converted into shares of the company at then current price per share.  The Company and consultant may elect to convert a portion of this into equity of the company.  In addition, each consultant was issued a seven-year warrant to acquire 250,000 shares of the Company Stock at $1.00 per share.

On November 1, 2017, OBITX, Inc., entered into a consulting agreement with the Law Offices of Carl G. Hawkins to serve as corporate counsel. The agreement calls for a one-time payment of $5,000 plus $150 per hour for legal services. The payments may be booked as a note due, which may be converted into shares of the company at then current price per share.  The Company and counsel may elect to convert a portion of this into equity of the company.  In addition, counsel was issued a seven-year warrant to acquire 250,000 shares of the Company Stock at $1.00 per share.

On November 1, 2017 OBITX, Inc., entered into an agreement with the Company, to convert the $3,043,285 owed to MCIG for the assigned rights and obligations to the 420 Cloud Software Network to OBITX in exchange for 100,000 shares of Series A Preferred Stock and 500,000 shares of OBITX common stock.

XML

Stockholders Equity

9 Months Ended

Jan. 31, 2018

Stockholder equity

Stockholders Equity

Common Stock

As of January 31, 2018, the Company was authorized to issue 560,000,000 common shares at a par value of $0.0001.  As of January 31, 2018, the Company had issued and outstanding 415,310,809 common shares.   

During the three months ended January 31, 2018 the Company issued 2,300,000 in a legal settlement with the Delaney Equity Group, LLC, 200,000 to our legal team in support of the settlement action, and 10,000,000 shares through the conversion of Preferred Stock. 

Preferred Stock

The Company has authorized 50,000,000 shares of preferred stock, of which it has designated 23,000,000 as Series A Preferred, at $0.0001 par value.   The Company has 11,850,000 issued and outstanding as of January 31, 2018.  Each share of the Preferred Stock has 10 votes on all matters presented to be voted by the holders of the Company’s common stock.

XML

Stock Option Plan

9 Months Ended

Jan. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Option Plan

Under its Year 2016 Stock Option Plan (the “Plan”), the Company grants stock options for a fixed number of shares to employees and directors with an exercise price equal to the fair market value of the shares at the date of grant.

Options granted under the Plan are exercisable at the exercise price of grant and, subject to termination of employment, expire three years from the date of issue, are not transferable other than on death, and vest in monthly installments commencing at various times from the date of grant.  As of January 31, 2018, the Company recorded compensation cost of $0 within operating expenses related to stock options granted in 2016. As of January 31, 2018 total compensation cost related to non-vested awards not yet recognized was $0.

The weighted average fair value at date of grant for options granted under the option plan is $0 per option. The fair value of each option at date of grant utilized the closing price of the stock on the date of issue.

A summary of the Company’s stock option plan as of January 31, 2018 is presented below:

			Weighted
			Average
			Exercise
	Shares		Price
Options outstanding at beginning of period (May 1, 2017)		15,926,830	$	0.1362
Granted		1,000,000		0.21
Forfeited		4,450,000		0.12
Exercised		2,100,000		0.26
Options outstanding at January 31, 2018		10,826,830	$	0.063

There are currently 16,200,000 unissued options under the 2016 Stock Option Plan.

The following table summarizes information for stock options outstanding at January 31, 2018:

	Options Outstanding						Options Exercisable
			Weighted-		Weighted-				Weighted-
Range of	Number		Average		Average		Number		Average
Exercise	Outstanding		Remaining		Exercise		Exercisable		Exercise
Prices	@ 7/31/17		in years		Price		@ 1/31/18		Price
$0.034 - $0.107		10,826,830		2.32	$	0.153		10,826,830	$	0.153

XML

Warrants

9 Months Ended

Jan. 31, 2018

Notes to Financial Statements

Warrants

A summary of warrant activity for period ended January 31, 2018 is as follows:

			Weighted
			Average
			Conversion
	Shares		Price
Warrants outstanding at April 30, 2017		32,499,310	$	0.025
Exercised		6,416,551	$	-
Granted		-	$	-
Warrants outstanding at October 31, 2017		26,032,759	$	0.025

On September 1, 2017, Michael Hawkins, the Company’s CFO exercised a warrant to acquire 5,416,551 shares of the Company’s common stock.  The stock was issued to Epic Industry Corp, a company wholly owned by Michael Hawkins. 

On September 23, 2017, Carl G. Hawkins, the Company’s corporate counsel exercised a warrant to acquire 1,000,000 shares of the Company’s common stock, at $0.025 per share for $25,000. 

XML

Subsequent Events

9 Months Ended

Jan. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

There are no reportable subsequent events. 

XML

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Jan. 31, 2018

Accounting Policies [Abstract]

Principles of Consolidation

The consolidated financial statements include the accounts of the Company, the wholly owned subsidiaries of GROW, MINT, MCIG Europe, NYACRES, OBITX, TUERO, TAM, VAPO, and VITA for the quarter ended January 31, 2018. Significant intercompany balances and transactions have been eliminated.  

Concentration of Credit Risk and Significant Customers

Financial instruments which potentially subject the Company to a concentration of credit risk consist principally of temporary cash investments and accounts receivable.  The Company places its temporary cash investments with financial institutions insured by the FDIC.

Concentrations of credit risk with respect to trade receivables are limited due to the diverse group of customers to whom the Company sells. The Company establishes an allowance for doubtful accounts when events and circumstances regarding the collectability of its receivables warrant based upon factors such as the credit risk of specific customers, historical trends, other information and past bad debt history. The outstanding balances are stated net of an allowance for doubtful accounts.

For the three months ended January 31, 2018, there were no significant customers.  For the nine months ended January 31, 2018 sales to the Company’s primary three customers accounted for approximately 57.5% of revenue. The following chart shows the segments in which the top three customers were reported: 

Primary Customers
Nine Months ended January 31, 2018	Amount	% of Total Sales
Construction Customer	1,042,804	17.4%
Media Customer	1,250,000	20.8%
Supply Customer	1,159,333	19.3%
Total	3,452,137	57.5%

Segment Information

In accordance with the provisions of SFAS No. 131, Disclosures about Segments of an Enterprise and Related Information, the Company is required to report financial and descriptive information about its reportable operating segments. The Company identifies its operating segments as divisions based on how management internally evaluates separate financial information, business activities and management responsibility. In addition to the corporate segment, the Company segments and the subsidiaries associated with each segment are as follows: 

Segment	Subsidiary
Construction and Consulting	Grow Contractors, Inc.
CBD	mCig Internet Sales, Inc.
Vaporizer	VitaCig, Inc.
Media	OBITX, Inc. (formerly known as GigeTech, Inc) Tuero Capital, Inc.
Cannabis Supplies	Vapolution, Inc.
Corporate	mCig, Inc. Tuero Asset Management Corp
Agriculture	NYAcres, Inc.

We began recording segments in fiscal year 2017 (ending April 30, 2017).  We report our financial performance based on the segments described in Note 8 – Segment Information. 

Business Segments
	Total Revenue		Percentage of Total Revenue
	Three Months Ended January 31,		Three Months Ended January 31,
	2018	2017	2018	2017
Consulting and Construction	$         118,195	$      1,090,982	15.1%	80.1%
CBD	28,218	133,869	3.6%	9.8%
Vaporizers	73,353	137,838	9.4%	10.1%
Media	75,906	-	9.7%	0.0%
Supplies	484,569	-	62.1%	0.0%
Agriculture	-	-	0.0%	0.0%
Corporate	-	-	0.0%	0.0%
Total	$         780,241	$      1,362,689	100.0%	100.0%

Business Segments
	Total Revenue		Percentage of Total Revenue
	Nine Months Ended January 31,			Nine Months Ended January 31,
	2018	2017		2018	2017
Consulting and Construction	$      3,112,545	$      1,340,844		51.8%	59.9%
CBD	56,064	310,534		0.9%	13.9%
Vaporizers	336,254	586,027		5.6%	26.2%
Media	1,342,056	-		22.3%	0.0%
Supplies	1,159,333	-		19.3%	0.0%
Agriculture	-	-		0.0%	0.0%
Corporate	-	-		0.0%	0.0%
Total	$      6,006,252	$      2,237,405		100.0%	100.0%

Inventory

In accordance with ASU 2015-11 – Inventory (Topic 330) – Simplifying the Measurement of Inventory, the Company’s inventory consists of finished product, mCig products valued at the lower of cost or market valuation under the first-in, first-out method of costing.

As of January 31, 2018, the Company had no allowance for obsolescence. The level of inventory maintained by the Company is insignificant and is typically ordered on an as needed basis, or just-in-time. 

Property, Plant and Equipment

Property, plant and equipment (“PPE”) are stated at cost less accumulated depreciation and amortization.  Expenditures for maintenance and repairs are charged to expense as incurred.  Additions, improvements and major replacements that extend the life of the asset are capitalized.

Depreciation and amortization is recorded using the straight-line method over the estimated useful lives of depreciable assets, which are generally three to five years.

The Company classifies its software under the Financial Accounting Standards Advisory Board (FASAB) Statement of Federal Financial Accounting Standards (SFFAS) No. 10, Accounting for Internal Use Software, and the Governmental Accounting Standards Board (GASB) Statement No. 42, Accounting of Costs of Computer Software Developed or Obtained for Internal Use. When software is used in providing goods and services it is classified as PPE.  The Company considers its 420 Cloud software as a major part of the Company’s operations that is intended to provide profits.

Accounts Receivable

The Company reviews all outstanding accounts receivable for collectability on a quarterly basis. An allowance for doubtful accounts is recorded for any amounts deemed uncollectable. The Company does not accrue interest receivable on past due accounts receivable. The Company recognized $418,460 and $0 as an uncollectable reserve for the nine months ending January 31, 2018 and January 31, 2017, respectively.

Intangible Assets

The Company’s intangible assets consist of certain website development costs that is amortized over their useful life in accordance with the guidelines of ASC 350-30 General Intangible Other than Goodwill and ASC 350-50 Website Development Costs.  In addition to these finite intangible assets, the Company accounts for its infinite intangible assets without depreciation and/or amortization.  These assets are reviewed annually by an independent review to determine if an impairment should be recognized.  No impairment was warranted for the Company’s infinite intangible assets.  

Basic and Diluted Net Loss Per Share

The Company follows ASC Topic 260 – Earnings Per Share, and FASB 2015-06, Earnings Per Share to account for earnings per share.  Basic earnings per share (“EPS”) calculations are determined by dividing net loss by the weighted average number of shares of common stock outstanding during the year.  Diluted earnings per share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding.  During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. 

Basic net earnings (loss) per common share are computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period. Dilutive common stock equivalent shares consist of Series A convertible preferred stock, convertible debentures, stock options and warrant common stock equivalent shares.

Concentration of Credit Risk

Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash and trade receivables.  Concentrations of credit risk with respect to trade receivables are limited due to the clients that comprise our customer base and their dispersion across different business and geographic areas.  We estimate and maintain an allowance for potentially uncollectible accounts and such estimates have historically been within management's expectations.  

We rely almost exclusively on one Chinese factory as our principle supplier for our e-cig products. Therefore, our ability to maintain operations is dependent on this third-party manufacturer.

Our cash balances are maintained in accounts held by major banks and financial institutions located in the United States.  The Company may occasionally maintain amounts on deposit with a financial institution that are in excess of the federally insured limit of $250,000.  The risk is managed by maintaining all deposits in high quality financial institutions. The Company had $62,889 and $0 in excess of federally insured limits at January 31, 2018 and 2017.

Cost-Basis Investments

The Company’s non-marketable equity investment in the NYAcres Project, Cannabiz Supply, and Stony Hill Corp is recorded using the cost-basis method of accounting, and is classified within other long-term assets on the accompanying balance sheet as permitted by FASB ASC 325, “Cost Method Investments”. During the nine months ended January 31, 2018 and 2017 there were no impairment losses.

Equity-Basis Investments

The Company accounted for its original ownership of VitaCig, Inc., (Nevada) as an equity-basis investment. As of January 31, 2018, and January 31, 2017, there is no net book value of the ownership of VitaCig, as the pro-rata value after the Spin-off and the impairment of the investment in VitaCig. 

On June 22, 2016, the Company reduced its ownership of VitaCig, Inc., to 57,500,000 through a Separation and Transfer Agreement where the Company acquired the business operations of VitaCig in exchange for selling back to the treasury of VitaCig, Inc., (Nevada) 172,500,000. 

Warranties

Warranty reserves include management’s best estimate of the projected costs to repair or to replace any items under warranty, based on actual warranty experience as it becomes available and other known factors that may impact the Company’s evaluation of historical data. Management reviews mCig’s reserves at least quarterly to ensure that its accruals are adequate in meeting expected future warranty obligations, and the Company will adjust its estimates as needed. Initial warranty data can be limited early in the launch of a product and accordingly, the adjustments that are recorded may be material.. As a result, the products that can be returned as a warranty replacement are extremely limited. As a result, due to the Company’s warranty policy, the Company did not have any significant warranty expenses to report for the year ended April 30, 2017. Based on these actual expenses, the warranty reserve, as estimated by management as of January 31, 2018 and January 31, 2017 were at $0. Any adjustments to warranty reserves are to be recorded in cost of sales.

XML

Summary of Significant Accounting Policies (Tables)

3 Months Ended

9 Months Ended

Jan. 31, 2018

Jan. 31, 2018

Accounting Policies [Abstract]

Schedule of Business Segments

Business Segments
	Total Revenue		Percentage of Total Revenue
	Three Months Ended January 31,		Three Months Ended January 31,
	2018	2017	2018	2017
Consulting and Construction	$         118,195	$      1,090,982	15.1%	80.1%
CBD	28,218	133,869	3.6%	9.8%
Vaporizers	73,353	137,838	9.4%	10.1%
Media	75,906	-	9.7%	0.0%
Supplies	484,569	-	62.1%	0.0%
Agriculture	-	-	0.0%	0.0%
Corporate	-	-	0.0%	0.0%
Total	$         780,241	$      1,362,689	100.0%	100.0%

Business Segments
	Total Revenue		Percentage of Total Revenue
	Nine Months Ended January 31,			Nine Months Ended January 31,
	2018	2017		2018	2017
Consulting and Construction	$      3,112,545	$      1,340,844		51.8%	59.9%
CBD	56,064	310,534		0.9%	13.9%
Vaporizers	336,254	586,027		5.6%	26.2%
Media	1,342,056	-		22.3%	0.0%
Supplies	1,159,333	-		19.3%	0.0%
Agriculture	-	-		0.0%	0.0%
Corporate	-	-		0.0%	0.0%
Total	$      6,006,252	$      2,237,405		100.0%	100.0%

XML

Property, Plant and Equipment (Tables)

9 Months Ended

Jan. 31, 2018

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property, Plant, and Equipment
	As of
	January 31, 2018		April 30, 2017
Office furniture	$	18,322	$	1,792
Rollies machine		5,066		5,066
Computer equipment		1,544		1,544
ATM machines		299,970		—
Agriculture tools and equipment		5,408		—
420 Cloud		3,132,177		3,063,635
Total acquisition cost	$	3,462,487	$	3,072,037
Accumulated depreciation		203,749		1,540
Total property, plant, and equipment	$	3,258,738	$	3,070,497

XML

Accounts Receivable (Tables)

9 Months Ended

Jan. 31, 2018

Notes to Financial Statements

Schedule of Accounts Receivable

Accounts Receivable
	Amount
Construction receivables	593,457
Retail Sales receivables	1,384,420
Subscription receivables	358,162
Total accounts and subscription receivables	2,336,039
Subscription receivables not yet collected	183,784
Total accounts receivable	2,152,255

XML

Intangible Assets (Tables)

9 Months Ended

12 Months Ended

Jan. 31, 2018

Apr. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible Assets
		As of
		January 31, 2018
	Weighted	Gross Carrying Amount	Accumulated Amortization
	Average			Net Carrying
	Useful Life			Amount
	(in Years)
		$	$	$
Finite lived intangible assets
Website Designs	5	65,857	23,161	42,696
VitaCBD, LLC	5	200,000	40,000	160,000
Total finite lived intangible assets		265,857	63,161	202,696
Infinite lived intangible assets
Internet domain names		363,348	-	363,348
Trademarks and intellectual properties		455,637	-	455,637
Total infinite lived intangible assets		818,985	-	818,985
Total Intangible Assets		1,084,842	63,161	993,084

Intangible Assets
		As of
		April 30, 2017
	Weighted	Gross Carrying Amount	Accumulated Amortization
	Average			Net Carrying
	Useful Life			Amount
	(in Years)
		$	$	$
Finite lived intangible assets
Website Designs	5	32,208	22,891	9,317
VitaCBD, LLC	5	200,000	10,000	190,000
Total finite lived intangible assets		232,208	32,891	199,317
Infinite lived intangible assets
Internet domain names		363,348	-	363,348
Trademarks and intellectual properties		455,637	-	455,637
Total infinite lived intangible assets		818,985	-	818,985
Total Intangible Assets		1,051,193	32,891	1,018,302

XML

Business Segments (Tables)

3 Months Ended

9 Months Ended

Jan. 31, 2018

Jan. 31, 2018

Segment Reporting [Abstract]

Schedule of Primary Customers

Primary Customers
Nine Months ended January 31, 2018	Amount	% of Total Sales
Construction Customer	1,042,804	17.4%
Media Customer	1,250,000	20.8%
Supply Customer	1,159,333	19.3%
Total	3,452,137	57.5%

Schedule of Segment Reporting

Business Segments
For the Three Months Ended January 31, 2018	Construction	Vaporizers	CBD	Agriculture	Media	Supply	Corporate	Total
Revenue	$      118,195	$      73,353	$      28,218	$                -	$       75,906	$     484,569	$                 -	$      780,241
Segment Income (Loss) from Operations	(10,593)	4,229	(24,049)	(28,876)	(78,462)	49,352	(366,166)	(454,770)
Total Assets	785,985	262,724	46,059	(28,876)	4,717,014	101,708	2,245,486	8,130,100
Capital Expenditures	15,714	225	-	55,408	5,689	-	(3,076,467)	(2,999,431)
Depreciation and Amortization	130	181	90	-	115,495	-	10,180	126,076
For the Three Months Ended January 31, 2017	Construction	Vaporizers	CBD	Agriculture	Media	Supply	Corporate	Total
Revenue	$   1,090,982	$    137,838	$    133,869	$                -	$                -	$                -	$                 -	$   1,362,689
Segment Income (loss) from Operations	234,597	(29,727)	5,182	-	-	-	640,500	850,552
Total Assets	169,018	143,670	5,689	-	-	-	1,489,541	1,807,918
Capital Expenditures	3,554	59,327	-	-	-	-	246,105	308,986
Depreciation and Amortization	-	181	13,215	-	-	-	90	13,486

Business Segments
For the Nine Months Ended January 31, 2018	Construction	Vaporizers	CBD	Agriculture	Media	Supply	Corporate	Total
Revenue	$   3,112,545	$    336,254	$      56,064	$                -	$  1,342,056	$  1,159,333	$                 -	$   6,006,252
Segment Income (Loss) from Operations	180,186	80,641	(25,802)	(28,876)	766,473	83,464	(694,752)	361,334
Total Assets	785,335	262,724	46,059	(28,876)	4,670,214	106,156	2,241,464	8,083,076
Capital Expenditures	15,714	225	-	55,408	256,089	-	(3,076,467)	(2,749,031)
Depreciation and Amortization	389	543	270	-	199,455	-	30,270	230,927
For the Nine Months Ended January 31, 2017	Construction	Vaporizers	CBD	Agriculture	Media	Supply	Corporate	Total
Revenue	$   1,340,844	$    586,027	$    310,534	$                -	$                -	$                -	$                 -	2,237,405
Segment Income from Operations	211,806	81,436	40,657	-	-	-	365,145	699,044
Total Assets	169,018	143,670	49,332	-	-	-	1,489,541	1,851,561
Capital Expenditures	3,554	59,327	-	-	-	-	246,105	308,986

XML

NonGAAP Accounting and GAAP Reconciliation Net Income and EBITDA (Tables)

9 Months Ended

Jan. 31, 2018

Notes to Financial Statements

Schedule of NonGAAP Consolidated Statements of Operations

mCig, Inc.
and SUBSIDIARIES
Adjusted Consolidated Statements of Operations
(unaudited)
	For the three months ended January 31,		For the nine months ended January 31,
	2018	2017	2018	2017
Sales	$            780,241	$         1,362,689	$       6,006,252	$           2,237,405
Total Cost of Sales	352,831	1,074,459	3,873,773	1,655,692
Gross Profit	427,410	288,230	2,132,479	581,713
Selling, general, and administrative	84,033	67,360	241,786	160,965
Professional Fees	65,043	6,240	106,056	20,030
Marketing & Advertising	13,345	-	25,503	-
Research & Development	513	-	4,633	-
Consultant Fees	430,092	101,169	962,209	208,980
Depreciation	-	271	-	1,181
Total Operating Expenses	593,026	175,040	1,340,187	391,156
Income (Loss) From Operations	(165,616)	113,190	792,292	190,557
Other Income (Expense)	-	-	-	53,915
Net Income (Loss) Before Non-Controlling Interest	(165,616)	113,190	792,292	244,472
Gain (Loss) Attributable to Non-Controlling Interest	(70,422)	5,241	(70,422)	14,100
Net Income (Loss) Attributable to Controlling Interest	$           (95,194)	$            107,949	$         862,714	$              230,372
Basic and Diluted (Loss) Per Share:
Income(Loss) per share from Continuing Operations	$               (0.00)	$                  0.00	$                0.00	$                    0.00
Income(Loss) Per Share	$               (0.00)	$                  0.00	$                0.00	$                    0.00
Weighted Average Shares Outstanding - Basic and Diluted	392,843,133	342,035,457	392,843,133	331,114,006

Schedule of Reconciliation

mCig, Inc.
and SUBSIDIARIES
Reconciliation of Adjusted Consolidated Statements of Operations
(unaudited)
	For the three months ended January 31,		For the nine months ended January 31,
Reconciliation	2018	2017	2018	2017
Net income (loss) attributable to controlling interest	(454,770)	850,552	353,037	699,044
Interest	-	-	-	(1,009)
Depreciation and Amortization	126,076	13,386	230,927	35,140
EBITDA	(328,694)	863,938	583,964	734,184
Adjustment for Non-Intangible Asset Depreciation	-	(271)	-	(1,181)
Stock Based Compensation	233,500	(91,203)	278,750	200,424
Settlement on Investment	-	(654,033)	-	(674,855)
Adjusted Net Income	(95,194)	118,431	862,714	258,572

XML

Acquisitions (Tables)

9 Months Ended

Jan. 31, 2018

Business Combinations [Abstract]

Schedule of Acquisition #8

Vapolution Business Acquisition Price
1,700,000 Shares of MCIG Stock at fair market value	$	680,000
Cash		961
Inventory		40,541
Total Purchase Price	$	721,502

Vapolution Gain on Acquisition
Total purchase price	$	721,502
Original purchase price	$	692,500
FY 2015 Impairment recorded		625,000
Preexisting contractual relationship value at time of acquisition	$	67,500
Gain on acquisition	$	654,002

XML

Stock Option Plan (Tables)

9 Months Ended

Jan. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Option Activity

			Weighted
			Average
			Exercise
	Shares		Price
Options outstanding at beginning of period (May 1, 2017)		15,926,830	$	0.1362
Granted		1,000,000		0.21
Forfeited		4,450,000		0.12
Exercised		2,100,000		0.26
Options outstanding at January 31, 2018		10,826,830	$	0.063

Schedule of Value of Options

	Options Outstanding						Options Exercisable
			Weighted-		Weighted-				Weighted-
Range of	Number		Average		Average		Number		Average
Exercise	Outstanding		Remaining		Exercise		Exercisable		Exercise
Prices	@ 7/31/17		in years		Price		@ 1/31/18		Price
$0.034 - $0.107		10,826,830		2.32	$	0.153		10,826,830	$	0.153

XML

Warrants (Tables)

9 Months Ended

Jan. 31, 2018

Notes to Financial Statements

Schedule of Warrant Activity

			Weighted
			Average
			Conversion
	Shares		Price
Warrants outstanding at April 30, 2017		32,499,310	$	0.025
Exercised		6,416,551	$	-
Granted		-	$	-
Warrants outstanding at October 31, 2017		26,032,759	$	0.025

XML

Organization and Basis of Presentation (Details Narrative)	3 Months Ended	6 Months Ended	9 Months Ended
	Jan. 31, 2018	Oct. 31, 2017	Jan. 31, 2018
Date of Incorporation			Dec. 30, 2010
Current Fiscal Year End Date			--04-30
Subsidiary #1
Date of Agreement			May 26, 2016
Percentage of Ownership			100.00%
Subsidiary #2
Date of Agreement			Jan. 23, 2014
Percentage of Ownership			100.00%
Subsidiary #4
Date of Incorporation			Jun. 01, 2016
Percentage of Ownership			100.00%
Subsidiary #5
Date of Incorporation			Dec. 05, 2016
Percentage of Ownership			100.00%
Subsidiary #8
Date of Incorporation			May 31, 2017
Percentage of Ownership			100.00%
Subsidiary #9
Date of Incorporation			Sep. 01, 2017
Percentage of Ownership			100.00%
Subsidiary #10
Date of Incorporation			Nov. 30, 2017
Percentage of Ownership			100.00%
Subsidiary #11
Date of Incorporation		Mar. 30, 2017
Percentage of Ownership	0.00%	100.00%

XML

Organization and Basis of Presentation - Schedule of Primary Customers (Details)	9 Months Ended
	Jan. 31, 2018 USD ($)
Construction Customer
Revenue	$ 1,042,804
Percentage of Total Revenue	17.40%
Media Customer
Revenue	$ 1,250,000
Percentage of Total Revenue	20.80%
Supply Customer
Revenue	$ 1,159,333
Percentage of Total Revenue	19.30%
Significant Customers
Percentage of Total Revenue	57.50%

XML

Organization and Basis of Presentation - Schedule of Business Segments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Construction Segment
Revenue	$ 118,195	$ 1,090,982	$ 3,112,545	$ 1,340,844
Percentage of Total Revenue	14.00%	30.30%	51.80%	59.90%
CBD Segment
Revenue	$ 28,218	$ 133,869	$ 56,064	$ 310,534
Percentage of Total Revenue	0.30%	13.50%	0.90%	13.90%
Vaporizers Segment
Revenue	$ 73,353	$ 137,838	$ 336,254	$ 586,027
Percentage of Total Revenue	2.40%	56.20%	5.60%	26.20%
Media Segment
Revenue	$ 75,906		$ 1,342,056
Percentage of Total Revenue	61.60%	0.00%	22.30%	0.00%
Cannabis Supplies Segment
Revenue	$ 484,596		$ 1,159,333
Percentage of Total Revenue	21.80%	0.00%	19.30%	0.00%
Agriculture Segment
Revenue
Percentage of Total Revenue			0.00%	0.00%
Corporate Segment
Revenue
Percentage of Total Revenue	0.00%	0.00%	0.00%	0.00%
Total
Revenue	$ 780,241	$ 1,362,689	$ 6,006,252	$ 2,237,405
Percentage of Total Revenue			100.00%	100.00%
Total
Revenue	$ 2,030,929	$ 620,015
Percentage of Total Revenue	100.00%	100.00%

XML

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	9 Months Ended
	Jan. 31, 2018	Apr. 30, 2017	Jan. 31, 2017
Reserve for uncollected accounts	$ 431,409	$ 11,030	$ 0
Federally insured limit	250,000
Federally insured limit, excess	$ 462,889		$ 0
Significant Customers
Percentage of Revenue	57.50%

XML

Notes Payable (Details Narrative) - Convert Prom Note #3	9 Months Ended
	Jan. 31, 2018 USD ($)
Convertible Notes Payable	$ 150,000
Maturity Date	Jun. 30, 2017

XML

Property, Plant and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Jan. 31, 2018	Apr. 30, 2017	Jan. 31, 2017
Total Property and Equipment	$ 3,258,738	$ 3,070,497	$ 3,070,497
Office Equipment
Equipment Expense	18,322	1,792
Other Machinery
Equipment Expense	5,066	5,066
Computer Equipment
Equipment Expense	1,544	1,544
ATM Machines
Equipment Expense	299,970
Ag Equipment
Equipment Expense	5,408
420 Cloud
Equipment Expense	3,132,177	3,063,635
Total
Depreciation	$ 203,749	$ 1,540

XML

Property, Plant and Equipment (Details Narrative) - USD ($)	Jan. 31, 2018	Jan. 31, 2017
Property Plant And Equipment Details Narrative
Depreciation expense	$ 199,725	$ 1,150

XML

Summary of Significant Accounting Policies - Schedule of Accounts Receivable (Details) - USD ($)	Jan. 31, 2018	Apr. 30, 2017
Accounts Receivable, Net	$ 2,152,255	$ 149,968
Construction Receivable
Accounts Receivable, Net	593,457
Retail Sales
Accounts Receivable, Net	1,384,420
Subscription Receivable
Accounts Receivable, Net	2,336,039
Subscription Receivable, Not Received
Accounts Receivable, Net	$ (183,784)

XML

Accounts Receivable (Details Narrative)	Jan. 31, 2018 USD ($)
Notes to Financial Statements
Subscription receivables	$ (183,784)

XML

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	9 Months Ended
	Jan. 31, 2018	Apr. 30, 2017
Finite Lived intangible assets, net carrying amount	$ 993,085	$ 1,018,302
Indefinite Lived intangible assets, accumuldated amortization	59,193	32,891
Total Intangible Assets	1,058,279	1,051,193
Internet Domains
Indefinite Lived intangible assets, gross carrying amount	363,348	363,348
Indefinite Lived intangible assets, accumuldated amortization
Indefinite Lived intangible assets, net carrying amount	363,348	363,348
IP
Indefinite Lived intangible assets, gross carrying amount	455,637	455,637
Indefinite Lived intangible assets, accumuldated amortization
Indefinite Lived intangible assets, net carrying amount	455,637	455,637
Total
Indefinite Lived intangible assets, gross carrying amount	818,985	818,985
Indefinite Lived intangible assets, accumuldated amortization
Indefinite Lived intangible assets, net carrying amount	818,985	818,985
Website Designs
Finite Lived intangible assets, gross carrying amount	65,857	32,208
Finite Lived intangible assets, accumulated amortization	23,161	22,981
Finite Lived intangible assets, net carrying amount	$ 42,696	9,317
Intangible Assets, Useful Life	5 years
VitaCBD
Finite Lived intangible assets, gross carrying amount	$ 200,000	200,000
Finite Lived intangible assets, accumulated amortization	40,000	10,000
Finite Lived intangible assets, net carrying amount	$ 160,000	190,000
Intangible Assets, Useful Life	5 years
Total
Finite Lived intangible assets, gross carrying amount	$ 265,857	232,208
Finite Lived intangible assets, accumulated amortization	63,161	32,891
Finite Lived intangible assets, net carrying amount	$ 202,696	$ 199,317

XML

Intangible Assets (Details Narrative)	9 Months Ended
	Jan. 31, 2018
Internet Domains
Intangible Assets, Useful Life	5 years
Website Designs
Intangible Assets, Useful Life	3 years

XML

Intangible Assets - Schedule of Segment Reporting (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Depreciation and Amortization			$ 230,927	$ 35,140
Construction Segment
Revenue	$ 118,195	$ 1,090,982	3,112,545	1,340,844
Segment Income (Loss) from Operations	(10,593)	234,597	180,186	211,806
Total Assets	785,985	169,018	785,335	169,018
Capital Expenditures	15,714	3,554	15,714	3,554
Depreciation and Amortization	130		389
Vaporizers Segment
Revenue	73,353	137,838	336,254	586,027
Segment Income (Loss) from Operations	4,229	(29,727)	80,641	81,436
Total Assets	262,724	143,670	262,724	143,670
Capital Expenditures	225	59,327	225	59,327
Depreciation and Amortization	181	181	543	362
CBD Segment
Revenue	28,218	133,869	56,064	310,534
Segment Income (Loss) from Operations	(24,049)	5,182	(25,802)	40,657
Total Assets	46,059	5,689	46,059	49,332
Capital Expenditures
Depreciation and Amortization	90	13,215	270	33,928
Agriculture Segment
Revenue
Segment Income (Loss) from Operations	(28,876)		(28,876)
Total Assets	(28,876)		(28,876)
Capital Expenditures	55,408		55,408
Depreciation and Amortization
Media Segment
Revenue	75,906		1,342,056
Segment Income (Loss) from Operations	(78,462)		766,473
Total Assets	4,717,014		4,670,214
Capital Expenditures	5,689		256,089
Depreciation and Amortization	115,495		199,455
Cannabis Supplies Segment
Revenue	484,596		1,159,333
Segment Income (Loss) from Operations	49,352		83,464
Total Assets	101,708		106,156
Capital Expenditures
Depreciation and Amortization
Corporate Segment
Revenue
Segment Income (Loss) from Operations	(366,166)	640,500	(694,752)	365,145
Total Assets	2,245,486	1,489,541	2,241,464	1,489,541
Capital Expenditures	(3,076,467)	246,105	(3,076,467)	246,105
Depreciation and Amortization	10,180	90	30,270	758
Total
Revenue	780,241	1,362,689	6,006,252	2,237,405
Segment Income (Loss) from Operations	(454,770)	850,552	361,334	699,044
Total Assets	8,130,100	1,807,918	8,083,076	1,851,561
Capital Expenditures	(2,999,431)	308,986	(2,749,031)	308,986
Depreciation and Amortization	$ 126,076	$ 13,486	$ 230,927	$ 35,048

XML

NonGAAP Accounting and GAAP Reconciliation Net Income and EBITDA - Schedule of Non-GAAP Consolidated Statements of Operations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Sales	$ 780,241	$ 1,362,689	$ 6,006,252	$ 2,237,405
Total Cost of Sales	468,326	1,074,459	4,073,228	1,655,692
Gross Profit	311,915	288,230	1,933,024	581,713
Selling, general, and administrative	84,033	67,360	241,786	160,965
Professional Fees	65,043	6,240	106,056	20,030
Marketing & advertising	13,345		25,503
Consultant Fees	430,092	101,169	962,209	208,980
Depreciation	10,581	13,486	31,472	35,140
Total Operating Expenses	837,107	97,052	1,650,410	604,762
Income (Loss) From Operations	(525,192)	191,178	282,614	(23,049)
Other Income (Expense)		654,033		711,054
Net Income (Loss) Before Non-Controlling Interest	(525,192)	845,211	282,614	688,005
Gain (Loss) Attributable to Non-Controlling Interest	70,422	(5,341)	70,422	(11,039)
Net Income (Loss) Attributable to Controlling Interest	$ (454,770)	$ 850,552	$ 353,036	$ 699,044
Basic and diluted (Loss) per share:
Income(Loss) per share from Continuing Operations	$ 0.00	$ (0.00)	$ 0.00	$ (0.00)
Income(Loss) Per Share	$ 0.00	$ (0.00)	$ 0.00	$ (0.00)
Weighted Average Shares Outstanding - Basic and Diluted	392,843,133	342,035,457	392,843,133	331,114,006
Adjustments
Sales	$ 6,006,252	$ 2,237,405	$ 780,241	$ 1,362,689
Total Cost of Sales	3,873,773	1,655,692	352,831	1,074,459
Gross Profit	2,132,479	581,713	427,410	288,230
Selling, general, and administrative	241,786	160,965	84,033	67,360
Professional Fees	106,056	20,030	65,043	6,240
Marketing & advertising	25,503		13,345
Research and development	4,633		513
Consultant Fees	962,209	208,980	430,092	101,169
Depreciation		1,181		271
Total Operating Expenses	1,340,187	391,156	593,026	175,040
Income (Loss) From Operations	792,292	190,557	(165,616)	113,190
Other Income (Expense)		53,915
Net Income (Loss) Before Non-Controlling Interest	792,292	244,472	(165,616)	113,190
Gain (Loss) Attributable to Non-Controlling Interest	(70,422)	14,100	(70,422)	5,241
Net Income (Loss) Attributable to Controlling Interest	$ 862,714	$ 230,372	$ (95,194)	$ 107,949
Basic and diluted (Loss) per share:
Income(Loss) per share from Continuing Operations	$ 0.00	$ 0.00	$ (0.00)	$ 0.00
Income(Loss) Per Share	$ 0.00	$ 0.00	$ (0.00)	$ 0.00
Weighted Average Shares Outstanding - Basic and Diluted	392,843,133	331,114,006	392,843,133	342,035,457

XML

NonGAAP Accounting and GAAP Reconciliation Net Income and EBITDA - Schedule of Reconciliation (Details)	3 Months Ended		9 Months Ended
	Jan. 31, 2018 USD ($)	Jan. 31, 2017 USD ($)	Jan. 31, 2018 USD ($)	Jan. 31, 2017 USD ($)
Net income (loss) attributable to controlling interest	$ (454,770)	$ 850,552	$ 353,036	$ 699,044
Depreciation and Amortization			230,927	35,140
Stock Based Compensation	233,500	(91,203)	278,750	179,647
Reconciliation
Net income (loss) attributable to controlling interest	(454,770)	850,552	353,037	699,044
Interest				(1,009)
Depreciation and Amortization	$ 126,076	$ 13,386	$ 230,927	$ 35,140
EBITDA	(328,694)	863,938	583,964	734,184
Adjustment for Non-Intangible Asset Depreciation		$ (271)		$ (1,181)
Stock Based Compensation	233,500	(91,203)	278,750	200,424
Settlement on Investment		(654,033)		(674,855)
Adjusted Net Income	$ (95,194)	$ 118,431	$ 862,714	$ 258,572

XML

Acquisitions - Schedule of Acquisitions (Details) - USD ($)	Jan. 31, 2018	Apr. 30, 2017
Intangible assets, net	$ 1,058,279	$ 1,051,193
Total assets	8,130,100	6,978,274
Additional paid in capital	12,538,696	11,118,841
Total Liabilities	1,077,905	1,631,370
Cash and cash equivalents	679,951	1,634,662
Accounts receivable, net	2,152,255	149,968
Prepaid expenses	41,715	147,015
Inventory	50,803	54,278
Deferred revenue	13,010	517,033
Total current liabilities	1,077,905	1,631,370
Due to shareholder	486,666	173,312
Notes receivable	1,530	$ 1,529
Vapolution
Cash and cash equivalents	961
Inventory	40,541
Fair market value	$ 680,000

XML

Acquisitions (Details Narrative) - USD ($)	9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Shares Issued, Purchase of Assets, Value		$ 160,008
Vapolution
Date of Agreement	Jan. 23, 2014
Shares Issued, Purchase of Assets	5,000,000
Settlement Agmt
Date of Agreement	Jan. 17, 2017
Shares Issued, Purchase of Assets, Value	$ 721,502
Stock returned in settlement of Vapolution, shares	(1,700,000)
Purchase of Assets	$ 692,500
Impairment Loss	625,000
Shares Issued for Acquisition of Vapolution	67,500
Gain on acquisition	$ 654,002

XML

Related Parties and Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017	Apr. 30, 2017
Professional Fees, Monthly	$ 65,043	$ 6,240	$ 106,056	$ 20,030
Shares Issued, Conversion, Shares	10,000,000
Shares Issued, Services	200,000
Options granted, number of shares			1,000,000
Options granted, weighted average exercise price			0.21
Issued, Warrants
Line of Credit Agmt
Date of Agreement			May 01, 2017
Line of Credit, Borrowing Capacity	$ 100,000		$ 100,000
Line of Credit, Borrowed	2,200		$ 2,200
CMO
Date of Agreement			Apr. 01, 2017
Salary, Due			$ 84,000
CFO
Professional Fees, Monthly			$ 10,500
Date of Issuance			Sep. 01, 2017
Shares Issued, Conversion, Shares			5,416,551
Stock Issued, Value			$ 135,412
Related Party Agmt
Date of Agreement			Sep. 13, 2017
Related Party, Receivable	$ (1,250,000)		$ (1,250,000)
Related Party Agmt #2
Date of Agreement			Sep. 23, 2017
Professional Fees, Monthly			$ 3,000
Shares Issued, Services			250,000
Options granted, number of shares			1,000,000
Options granted, weighted average exercise price			0.217
Consulting Agmt #1
Date of Agreement			Nov. 01, 2017
Issued, Warrants			250,000
Exercise price			$ 1.00
Warrant, Term			7 years
Consulting Agmt #2
Date of Agreement			Nov. 01, 2017
Issued, Warrants			250,000
Exercise price			$ 1.00
Warrant, Term			7 years
Series A Conversion #1
Preferred Stock, Series A, Shares Converted			1,000,000
Shares Issued, Conversion, Shares			10,000,000

XML

Stockholders Equity (Details Narrative) - $ / shares

3 Months Ended

9 Months Ended

Jan. 31, 2018

Jan. 31, 2018

Apr. 30, 2017

Equity [Abstract]

Common Stock, Par Value

$ 0.0001

$ 0.0001

$ 0.0001

Common Stock, Shares Authorized

560,000,000

560,000,000

560,000,000

Common Stock, Issued

415,310,809

415,310,809

386,094,258

Preferred Stock, Par Value

$ 0.0001

$ 0.0001

$ 0.0001

Preferred Stock, Shares Authorized

50,000,000

50,000,000

50,000,000

Preferred Stock, Issued

11,850,000

11,850,000

12,850,000

Preferred Stock, Series A, Designated

23,000,000

23,000,000

Preferred Stock, Series A, Par Value

$ 0.0001

$ 0.0001

Preferred Stock, Convertible Feature

Each share of the Preferred Stock has 10 votes on all matters presented to be voted by the holders of the Company’s common stock.

Shares Issued, Legal Settlement

2,300,000

Shares Issued, Services

200,000

Shares Issued, Conversion

10,000,000

XML

Stock Option Plan - Schedule of Option Activity (Details) - $ / shares	9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Beginning Balance, number of shares	15,926,830
Beginning Balance, weighted average exercise price	0.1362
Options granted, number of shares	1,000,000
Options granted, weighted average exercise price	0.21
Options forfeited, number of shares	4,450,000
Options forfeited, weighted average exercise price	$ 0.12
Options exercised, number of shares	2,100,000
Options exercised, weighted average exercise price	0.26
Options expired, number of shares
Options expired, weighted average exercise price
Ending Balance, number of shares	10,826,830	15,926,830
Ending Balance, weighted average exercise price	0.063	0.1362

XML

Stock Option Plan - Schedule of Value of Options (Details)	9 Months Ended
	Jan. 31, 2018 $ / shares shares
Expected life	2 years 11 months
Weighted Average Exercise Price	$ 0
Minimum
Exercise Price	0.034
Maximum
Exercise Price	$ 0.107
Options Outstanding
Options | shares	10,826,830
Weighted Average Exercise Price	$ 0.153
Options Exercisable
Options | shares	10,826,830
Weighted Average Exercise Price	$ 0.153

XML

Stock Option Plan (Details Narrative)	9 Months Ended
	Jan. 31, 2018 $ / shares shares
Stock Option Plan Details Narrative
Stock Option Plan, Shares Authorized | shares	28,800,000
Weighted Average Exercise Price | $ / shares	$ 0

XML

Warrants - Schedule of Warrant Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Jan. 31, 2018	Apr. 30, 2017
Notes to Financial Statements
Beginning Balance, Issued Warrants	32,499,310
Beginning Balance, Average Exercise Price	$ 0.025
Issued, Warrants
Issued, Average Exercise Price
Exercised, Warrants	6,416,551
Exercised, Average Exercise Price
Expired Warrants
Expired Average Exercise Price
Ending Balance, Issued Warrants	26,032,759	32,499,310
Ending Balance, Average Exercise Price	$ 0.025	$ 0.025

XML

Warrants (Details Narrative)	9 Months Ended
	Jan. 31, 2018 USD ($) $ / shares
Warrant #1
Exercise Date	Sep. 01, 2017
Warrants	$ 5,416,551
Warrant #2
Exercise Date	Sep. 23, 2017
Warrants	$ 1,000,000
Exercise price | $ / shares	$ 0.025
Proceeds from Exercise of Warrant	$ 25,000