Fair Value Measurements of Financial Instruments

6 Months Ended

Oct. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements of Financial Instruments

NOTE 3 – FAIR VALUE MEASURENTS OF FINANCIAL INSTRUMENTS

Our financial instruments consist of cash equivalents, trade accounts receivable, accounts payable, notes payable and derivative liabilities. The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate their respective fair values due to the short-term nature of these financial instruments.

There were no transfers between the levels of the fair value hierarchy during the periods covered by the accompanying consolidated financial statements.

Consistent with the valuation hierarchy described above, we categorized certain of our financial assets and liabilities as follows:

	October 31, 2018
	Total		Level 1		Level 2		Level 3
Assets
Investment in unconsolidated entities	$	4,527,188	$	-	$	-	$	4,527,188
Total assets	$	4,527,188	$	-	$	-	$	4,527,188
Liabilities	$	-	$	-	$	-	$	-

	April 30, 2018
	Total		Level 1		Level 2		Level 3
Assets
Investment in unconsolidated entities	$	2,757,188	$	-	$	-	$	2,757,188
Total assets	$	2,757,188	$	-	$	-	$	2,757,188
Liabilities
Derivative liabilities		30,172,153		-		35,000		30,137,153
Total liabilities	$	30,172,153	$	-	$	35,000	$	30,137,153