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1. Nature of Operations and Continuation of Business: Net Income (Loss) Per Common Share (Policies)
9 Months Ended
Jan. 31, 2020
Policies  
Net Income (Loss) Per Common Share

Net Income (Loss) per Common Share

 

Basic net income or loss per common share is calculated by dividing the Company’s net income or loss by the weighted average number of common shares outstanding during the period. Diluted net income or loss per common share is calculated by dividing the Company’s net income or loss by sum of the weighted average number of common shares outstanding and the dilutive potential common share equivalents then outstanding. Potential dilutive common share equivalents consist of shares issuable upon exercise of outstanding stock options and warrants, using the treasury stock method and the average market price per share during the period, and conversion of convertible debt, using the if converted method. As of January 31, 2020, the Company had potential shares issuable under convertible preferred shares, outstanding options, warrants and convertible debt for a total of 43,441,701. With the loss in operations for the nine-month period ended January 31, 2020, the additional shares were determined to be non-dilutive.