NOTE F – EQUITY TRANSACTIONS

3 Months Ended

Jul. 31, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE F – EQUITY TRANSACTIONS

The Company is authorized to issue 10,000,000 shares of preferred stock with $0.001 par value per share, of which 35,850 shares have been designated as Series A convertible preferred stock with a $100 stated value per share, 1,000 shares have been designated as Series B Preferred Stock with a $10,000 per share liquidation value, and 200,000 shares have been designated as Series C Preferred Stock with a $10 per share liquidation value.  The Company is authorized to issue 750,000,000 shares of common stock with $0.001 par value per share.  The Company had 125 shares of Series A preferred stock issued and outstanding as of July 31, 2016 and April 30, 2016.  The Company had no shares of Series B preferred stock issued and outstanding as of July 31, 2016 and April 30, 2016.  The Company had no shares of Series C preferred stock issued and outstanding as of July 31, 2016 and April 30, 2016.  The Company had 483,665,125 and 419,912,451 shares of common stock issued and outstanding as of July 31, 2016 and April 30, 2016, respectively.

Common Stock

During the three months ended July 31, 2016, the Company issued 63,752,674 shares of common stock, valued at $166,610, upon the conversion of $66,016 of note principal and accrued interest.

During the three months ended July 31, 2015, the Company expensed $82,115 for non-cash charges related to stock and option compensation expense.

During the three months ended July 31, 2015, the Company:

· issued 2,043,180 shares of common stock which had been classified as to be issued at April 30, 2015,

· sold 760,456 shares of restricted common stock to an accredited investor for $20,000,

· is sued 24,395,940 shares of common stock upon the conversion of $420,052 principal amount of convertible notes,

· accrued 1,962,220 shares as shares to be issued for the conversion of $29,806 of accrued interest, which shares were issued subsequent to July 31, 2015,

· issued 391,059 shares of common stock valued at $11,078 pursuant to terms of various notes,

· issued 2,846,000 shares of common stock valued at $82,080 pursuant to consulting agreements,

· issued 35,056 shares of common stock to three employees pursuant to vesting provisions of prior stock awards.