Stock Based Compensation (Tables)

12 Months Ended

Apr. 30, 2012

Ranges of Estimates and Assumptions Used in Calculation

The following table indicates ranges of estimates and assumptions used in the calculation:

Year of Exit Event		2012 - 2019
Probability of Exit Event	Base case	50% in years 2014 to 2017
	Accelerated exit	25% in years 2013 to 2016
	Delayed exit	25% in years 2015 and 2018
Risk free rate		0.03% - 2.01%
Expected dividends		nil
Historical volatility		43.59% - 51.88%

2011 Plan | Time and Performance Based Stock Options

Summary of Stock Option Activity

The following table summarizes the time and performance stock option activity under the 2011 Plan:

	Number of options		Year ended April 30, 2012
			Weighted average exercise price		Weighted remaining contractual life
Outstanding, beginning of period		—	$	—
Granted		36,144,451		0.65
Forfeited		—		—
Exchanged options		5,676,525		0.65
Outstanding, end of period		41,820,976	$	0.65		9.6 years
Exercisable, end of period		—

2011 Plan | Performance Based Stock Options

Summary of Stock Option Activity

The following table summarizes the performance stock option activity under the 2011 Plan:

	Number of options		Year ended April 30, 2012
			Weighted average exercise price		Weighted remaining contractual life
Outstanding, beginning of period		—	$	—
Granted		74,267,700		0.65
Forfeited		—		—
Exchanged shares		170,000		0.65
Outstanding, end of period		74,437,700	$	0.65		9.6 years
Exercisable, end of period		—

2008 Plan

Summary of Stock Option Activity

The following table summarizes the stock option activity under the 2008 Plan:

	April 30, 2012							April 30, 2011
	Number of options			Weighted average exercise price		Weighted remaining contractual life		Number of options			Weighted average exercise price		Weighted remaining contractual life
Outstanding, beginning of year		29,829,585		$	1.00				38,956,549		$	1.00
Granted		—			—				—			—
Forfeited		(1,780,871	)		1.00				(9,126,964	)		1.00
Exchanged options		(5,676,525	)		1.00				—			—
Outstanding, end of year		22,372,189		$	1.00		6.4 years		29,829,585		$	1.00		7.4 years
Exercisable, end of year		20,702,623							19,533,926