INTANGIBLE ASSETS

3 Months Ended

Jul. 31, 2018

NOTE 14 – INTANGIBLE ASSETS

Intangible assets with finite lives are amortized over their estimated useful life. The Company monitors conditions related to these assets to determine whether events and circumstances warrant a revision to the remaining amortization period. The Company tests its intangible assets with finite lives for potential impairment whenever management concludes events or changes in circumstances indicate the carrying amount may not be recoverable. The original estimate of an asset’s useful life and the impact of an event or circumstance on either an asset’s useful life or carrying value involve significant judgment.

On April 29, 2016 the Company acquired certain intangible assets from its founder which consisted of a business plan, along with costs related to development of internal-use software to be used in its operations. The total value attributable to the intangible assets purchased by the Company was $4,000. On June 6^th, 2018, the Company recognized $15,000 from the sale of intangible assets (see Note 12 – Debt Forgiveness and Gain on Sale of Assets)

Intangible assets includes the following:

	July 31, 2018		April 30, 2018

Intangible assets consisting of certain development costs and purchased software	$	-	$	4,000
Less: Accumulated amortization		-		(4,000	)
Net property and equipment	$	-	$	-