2. Summary of Significant Accounting Policies: Financial Instruments (Policies)

12 Months Ended

Apr. 30, 2016

Policies

Financial Instruments

(f)                  Financial Instruments

Pursuant to ASC 820, Fair Value Measurements and Disclosures and ASC 825, Financial Instruments, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value using a hierarchy based on the level of independent, objective evidence when measuring fair value using a hierarch based on the level of independent, objective evidence surrounding the inputs used to measure fair value.  A financial instrument’s categorization with the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.  The hierarchy prioritized the inputs into three levels that may be used to measure fair value:

Level 1

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

Level 2

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

Level 3

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

As of April 30, 2016 and 2015, the Company believes the amounts reported for cash, payables, accrued liabilities and amounts due to related parties approximate their fair values due to the nature or duration of these instruments. 

Liabilities measured at fair value on a recurring basis were estimated as follows at April 30, 2016 and 2015:

2016	Total	Level 1	Level 2	Level 3
Derivative liability	$        2,081,931	$                        -	$                        -	$        2,081,931
Convertible notes payable, net	63,486	-	-	63,486
Total liabilities measured at    fair value	$        2,145,417	$                        -	$                        -	$        2,145,417

2015	Total	Level 1	Level 2	Level 3
Derivative liability	$             47,808	$                          -	$                          -	$             47,808
Convertible notes payable, net	199,748	-	-	199,748
Total liabilities measured at    fair value	$           247,556	$                          -	$                          -	$           247,556