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Note 11 - Grant Income
9 Months Ended
Jan. 31, 2014
Notes  
Note 11 - Grant Income

 NOTE 11 – GRANT INCOME

 

Deferred grant income at January 31, 2014 and April 30, 2013 totaled $764,614 and $0, respectively. On January 26, 2014, we received grant funding of $1,146,921 (RMB 7,000,000), in exchange for commitments made by us to the local government of Qufu city to provide research and development for the planting of stevia plants, for the development of biological methods to improve lower-grade stevia product to higher grade stevia, and applying biological method to change the taste of stevia to meet market demand. The grant term is for three years, from January 1, 2013 through December 2015. Deferred grant income is being amortized as an increase to other income and amortized over a 3-year period by straight line method from January of 2013.