Derivative Liabilities (Tables)

6 Months Ended

Oct. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Weighted-average Assumptions Used on Derivative Liabilities

The following weighted-average assumptions were used when valuing our derivative liabilities:

	Six months ended October 31, 2018		Period from May 5, 2017 (Inception) to October 31, 2017
Expected term (in years)	1.0-5.0		0.31 – 1.0
Expected average volatility	107% - 237	%	126% - 330	%
Expected dividend yield	-		-
Risk-free interest rate	1.65% - 2.96	%	0.99% - 1.34	%

Summary of Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

The following table summarizes the changes in the derivative liabilities included in our consolidated balance sheet for the six months ended October 31, 2018:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance – April 30, 2018	$	30,488,655
Addition of new derivatives recognized as debt discounts		325,000
Other addition of new derivatives		679,032
Reclassification of derivatives due to tainted instruments		258,132
Change in fair value of the derivative		(10,547,737	)
Reclassification of derivative to additional paid-in capital		(1,187,242	)
Change in derivative liabilities recognized as gain on derivative		(20,015,840	)
Balance - October 31, 2018	$	-

Summary of (Loss) Gain on Derivative Liability

The following table summarizes the (loss) gain on derivative liability included in our consolidated statement of operation for the six months ended October 31, 2018 and the period from May 5, 2017 (inception) to October 31, 2017:

	Six months ended October 31, 2018			Period from May 5, 2017 (Inception) to October 31, 2017
Day-one loss due to derivative liabilities on convertible notes payable and warrants	$	(678,941	)	$	(2,099,349	)
Change in derivative liabilities		20,015,840			-
Gain from marked-to-market adjustments		10,547,737			976,758
Net gain (loss) on change in fair value of derivative liabilities	$	29,884,636		$	(1,122,591	)