Subsequent Events

6 Months Ended

Oct. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

8. Subsequent Events

Subsequent to October 31, 2017, convertible loans of $27,147 were issued. The convertible notes are secured against all assets of the Company, repayable two years after the issuance, bearing simple interest rate of 10% during the term of the notes and simple interest rate of 20% after the due date. The promissory notes are convertible at any time on or after ninety days from the issuance date into the Company’s common stocks at $0.10 per share.

Subsequent to October 31, 2017, 729,904 and 88,059 shares of the Company’s common stock were issued for convertible promissory notes at $0.10 and $0.12 per share, respectively.

On November 2, 2017 the Company issued 3,172,269 shares of its common stock to Rand Energy. These shares together with the 827,721 shares of common stock initially owned by Rand Energy and recorded as the Company’s treasury shares, were transferred to the 49% shareholders of Rand Energy, as consideration for purchase of all of their 49% interest in Rand Energy, resulting in the Company owing 100% equity interest of Rand Energy.