Note 1 - Organization, Nature of Operations and Summary of Significant Accounting Policies: Basic and Diluted Loss Per Share (Policies)

12 Months Ended

Apr. 30, 2014

Policies

Basic and Diluted Loss Per Share

BASIC AND DILUTED LOSS PER SHARE

Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing loss available to common shareholders by the weighted average number of shares of common stock outstanding for the periods presented. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the income of us, subject to anti-dilution limitations. The following table presents a reconciliation of basic and diluted net income per ordinary share:

	For Fiscal Years Ended April 30,
	2014	2013
Numerator:
Net loss	$      (3,065,821)	$      (4,010,728)
Numerator for basic EPS, loss applicable to common stockholders	$      (3,065,821)	$      (4,010,728)
Denominator:
Denominator for basic earnings per share - weighted average number of common shares outstanding	173,882,803	167,886,887
Effect of dilutive securities:
Warrants	0	0
Denominator for diluted earnings per share - weighted average number of common shares outstanding	173,882,803	167,886,887
Basic and diluted loss per common share:
Loss per share – basic and diluted	$                (0.02)	$                (0.02)

On April 30, 2014 and 2013, the effect of the 26,666,666 outstanding common stock purchase warrants was anti-dilutive as we reported a net loss applicable to our common shareholders for both periods. Additionally, outstanding purchase warrants which could result in the issuance of 26,666,666 additional common shares were anti-dilutive as the exercise price of the warrants exceeded the average market price.  As of April 30, 2014, 26,666,666 outstanding common stock purchase warrants were not exercised and expired.