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Stockholders' Deficit (Tables)

6 Months Ended

Oct. 31, 2018

Equity [Abstract]

Summary of Information and Activity Relating to Outstanding and Exercisable 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.

Schedule of Warrant Activity

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.

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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