Stockholders' Equity

6 Months Ended

Oct. 31, 2017

Equity [Abstract]

Stockholders' Equity

6. Stockholders’ Equity

a) Common Stock

On January 6, 2017, the Company’s annual and special meeting of stockholders approved the amendment to the Company’s articles that increased the authorized common shares from 100,000,000 to 150,000,000.

During the six months ended October 31, 2017 related party convertible promissory notes of $38,152 and accrued interest of $2,180 were converted into a total of 403,323 shares of REGI’s common stock at $0.10 per share.

During the six months ended October 31, 2017 non-related party convertible promissory notes of $3,848 and accrued interest of $623 were converted into a total of 55,892 shares of REGI’s common stock at $0.08 per share.

During the six months ended October 31, 2017 the Company issued 155,000 shares of its common stock for options exercised at $0.10 per share for a total proceed of $15,500. Among the 155,000 shares of common stock, 55,000 shares were issued to a related party.

During the six months ended October 31, 2017 the Company issued 350,000 shares of its common stock for services provided by the directors, officers and consultants of the Company with the total value recorded at $59,500 based on the market trading price of the issuance date.

Treasury Shares

At October 31, 2017 and April 30, 2017, Rand Energy owned 827,731 shares of the Company’s common stock which were deducted from the total shares outstanding. These shares were distributed to shareholders in November, 2017.

b) Common Stock Options and Warrants

On August 12, 2016, REGI granted an aggregate of 3,700,000 common stock options for services. These options vest upon grant, expire on July 20, 2021 and are exercisable at the following prices:

Options		Exercise price
	900,000	$	0.10
	600,000	$	0.20
	550,000	$	0.35
	450,000	$	0.50
	350,000	$	0.75
	350,000	$	1.00
	250,000	$	1.25
	250,000	$	1.50
	3,700,000

On January 1, 2017, REGI granted an aggregate of 3,500,000 common stock options for services. These options vest upon grant, expire on January 1, 2022 and are exercisable at the following prices:

Options		Exercise price
	2,500,000	$	0.10
	300,000	$	0.20
	300,000	$	0.35
	300,000	$	0.50
	100,000	$	0.75
	3,500,000

A summary of REGI’s stock option activities for the six months ended October 31, 2017 and the year ended April 30, 2017 are as follows:

	Six months Ended					Year Ended
	October 31, 2017					April 30, 2017
				Weighted				Weighted
				Average				Average
				Exercise				Exercise
	Options			Price		Options		Price
Outstanding at beginning of period		9,138,000		$	0.31		1,938,000	$	0.15
Granted		-			-		7,200,000		0.36
Exercised		(155,000	)		0.10		-		-
Expired		(803,000	)		0.10		-		-
Outstanding at end of period		8,180,000			0.35		9,138,000		0.31
Exercisable at end of period		7,445,000		$	0.35		7,684,500	$	0.34

The weighted average remaining contractual life of the options was 3.52 and 3.61 years at October 31, 2017 and April 30, 2017 respectively.

At October 31, 2017 and April 30, 2017, the Company had $Nil and $28,740 of total unrecognized compensation cost related to non-vested stock options and warrants, respectively. The intrinsic value of “in the money” exercisable options at October 31, 2017 and April 30, 2017 was $170,000 and $145,580, respectively.