NOTE D – NOTES PAYABLE AND DERIVATIVES (Tables)

3 Months Ended

Jul. 31, 2016

NOTE D – NOTES PAYABLE AND DERIVATIVES (Tables) [Line Items]

Schedule of Debt [Table Text Block]

The Company has outstanding numerous notes payable to various parties. The notes bear interest at rates of 5% - 20% per year and are summarized as follows:

Notes Payable	July 31, 2016			April 30, 2016
Notes convertible at holder's option	$	2,716,568		$	2,625,105
Notes convertible at Company's option		225,000			225,000
Non-convertible notes payable		1,265,500			1,197,500
Subtotal		4,207,068			4,047,605
Less debt discount		(448,511	)		(556,885	)
Total		3,758,557			3,490,720
Less: Current portion of notes payable		(3,648,474	)		(3,394,033	)
Long-term portion of notes payable	$	110,083		$	96,687

Schedule of Maturities of Long-term Debt [Table Text Block]

At July 31, 2016, notes payable due after one year mature as follows:

Year ending April 30,	Amount
2018		$	398,500

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Changes in derivative liability during the three months ended July 31, 2016 and 2015 were:

	July 31,
	2016			2015
Balance, beginning of year	$	2,170,976		$	1,605,535
Derivative liability extinguished		(100,593	)		(477,540	)
Derivative financial liability arising on the issuance of convertible notes		275,300			823,201
Fair value adjustments		258,064			75,465
Balance, end of period	$	2,603,747		$	2,026,661

Debt [Member]

NOTE D – NOTES PAYABLE AND DERIVATIVES (Tables) [Line Items]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The change in fair value of the derivative liabilities at July 31, 2016 and 2015 was calculated with the following average assumptions, using a Black-Scholes option pricing model are as follows:

Significant Assumptions:
Risk free interest rate	Ranging from	0.325 % to 0.75		%
Expected stock price volatility	Ranging from	242% to 409		%
Expected dividend payout			0	%
Expected life in years	Ranging from	0.25 year to 1.92		years

Significant Assumptions:
Risk free interest rate	Ranging from	0.101% to 0.752		%
Expected stock price volatility			248	%
Expected dividend payout			0	%
Expected life in years	Ranging from	0.34 years to 2.24		years