Stockholders' Deficit

6 Months Ended

Oct. 31, 2018

Equity [Abstract]

Stockholders' Deficit

NOTE 14 - STOCKHOLDERS’ DEFICIT

Preferred Stock

Series A Convertible Preferred Stock

In May 2018, the Company issued 5,000,000 shares of its Series A Convertible Preferred Stock, in the aggregate, in connection with its previously disclosed acquisitions of equity interests in 561, LLC and America Approved Commercial LLC.

In August 2018, the Company issued an additional 1,250,000 shares of its Series A Convertible Preferred Stock, in the aggregate, in connection with its previously disclosed acquisitions of equity interests in 561, LLC and America Approved Commercial LLC. In addition, in August 2018, the Company issued 250,000 shares of its Series A Convertible Preferred Stock in connection with its previously disclosed acquisition of a 40% equity interest in Medical Smart Care LLC.

In October 2018, the Company issued 500,000 shares of its Series A Convertible Preferred Stock in connection with its previously disclosed acquisition of a 40% equity interest in LEH Insurance Group LLC.

As of October 31, 2018, there were 93,694,540 shares of our Series A Convertible Preferred Stock issued and outstanding.

Series B Convertible Preferred Stock

As of October 31, 2018, there were 10,000,000 shares of our Series B Preferred Stock issued and outstanding.

Series C Convertible Preferred Stock

In August 2018, the Company issued 80,000 shares of its Series C Convertible Preferred Stock, at a price of $0.25 per share, for total proceeds of $20,000, in connection with stock subscription agreements entered into prior to April 30, 2018. In addition, in September 2018, the Company issued 30,000 shares of its Series C Convertible Preferred Stock, at a price of $0.25 per share, for total proceeds of $7,500, in connection with stock subscription agreements entered into prior to April 30, 2018. Further, in October 2018, the Company issued 60,000 shares of its Series C Convertible Preferred Stock, at a price of $0.25 per share, for total proceeds of $15,000, in connection with stock subscription agreements entered into prior to April 30, 2018.

As of October 31, 2018, there were 4,120,000 shares of our Series C Preferred Stock issued and outstanding.

Common Stock

In July 2018, the Company issued 600,000 stock subscription units at a price of $0.25 per unit, for total proceeds of $150,000, in connection with stock subscription agreements, including 160,000 shares in connection with subscription agreements entered into after April 30, 2018. Each unit consists of 600,000 shares of its Class A Common Stock and 600,000 warrants to purchase up to an additional 600,000 shares of Class A Common Stock. In addition, in August 2018, the Company issued 210,000 stock subscription units at a price of $0.25 per unit, for total proceeds of $52,500, in connection with stock subscription agreements entered into prior to April 30, 2018. Each unit consists of 210,000 shares of its Class A Common Stock and 210,000 warrants to purchase up to an additional 210,000 shares of Class A Common Stock. Further, in October 2018, the Company issued 40,000 stock subscription units at a price of $0.25 per unit, for total proceeds of $10,000, in connection with stock subscription agreements entered into prior to April 30, 2018. Each unit consists of 40,000 shares of its Class A Common Stock and 40,000 warrants to purchase up to an additional 40,000 shares of Class A Common Stock.The warrants are fully exercisable, have a term of five years and an exercise price equal to 50% of the average of the closing bid price for the Company’s common stock for the 20-day trading period prior to conversion of the warrants.

In the six months ended October 31, 2018, the Company also issued 131,654 shares of its Class A Common Stock, in exchange for professional services valued at $37,000.

On October 30, 2018, an executive officer exercised stock warrants (granted in conjunction with his employment agreement disclosed previously) to purchase 5,000,000 shares of our Series A Convertible Preferred Stock (convertible into 5,000,000 shares of our Class A Common Stock), at an exercise price of $0.0001 per share, and another executive officer exercised stock options (granted in conjunction with his employment agreement disclosed previously) to purchase 3,000,000 shares of our Series A Convertible Preferred Stock (convertible into 3,000,000 shares of our Class A Common Stock), at an exercise price of $0.0001 per share. Upon exercise, all the shares of our Series A Convertible Preferred Stock were converted into shares of our Class A Common Stock.

As of October 31, 2018, there were 65,151,654 shares of our Class A common stock and 10,000,000 shares of our Class B common stock issued and outstanding.

Shares Subscribed

During the six months ended of October 31, 2018, the Company received stock subscriptions for its Class A common stock in the total amount of $40,000. There were no underwriting discounts or commissions involved in connection with these stock subscriptions.

Stock Warrants

The following table summarizes certain information relating to outstanding and exercisable warrants as of October 31, 2018:

Warrants Outstanding						Warrants Exercisable
Number of Shares		Weighted Average Remaining Contractual life (in years) (1)		Weighted Average Exercise Price (1)		Number of Shares		Weighted Average Exercise Price (1)
	2,160,000		4.6	$	0.22		2,160,000	$	0.22
	333,333		3.9	$	0.15		333,333	$	0.15

(1) Between April 2018 and October 2018, in conjunction with the sale, in the aggregate, of 2,160,000 shares of its common stock pursuant to stock subscription agreements, the Company granted warrants to purchase up to 2,160,000 shares of its common stock at a price determined by the average trading price per share of the Company common stock.

The following table summarizes the activity relating to the Company’s warrants during the six months ended October 31, 2018:

	Number of Warrants			Weighted Average Exercise Price (1)		Weighted Average Remaining Term (1)
Outstanding at April 30, 2018		6,643,333		$	0.08		4.7
Granted		850,000			0.22		4.9
Exercised		(5,000,000	)		0.0001		-
Expired		-			-		-
Outstanding at October 31, 2018		2,493,333		$	0.21		4.5

(1) In October 2018, an executive officer of the Company exercised warrants (granted in connection with his employment agreement disclosed previously) to purchase 5,000,000 shares of the Company’s Series A Convertible Preferred Stock at the exercise price of $0.0001. Between April 2018 and October 2018, in conjunction with the sale, in the aggregate, of 2,160,000 shares of its common stock pursuant to stock subscription agreements, the Company granted warrants to purchase up to 2,160,000 shares of its common stock at a price determined by the average trading price per share of the Company common stock.