Document and Entity Information
Document and Entity Information | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Document and Entity Information: | ||
Entity Registrant Name | APPIPHANY TECHNOLOGIES HOLDINGS CORP | |
Document Type | S1 | |
Document Period End Date | Jul. 31, 2016 | |
Amendment Flag | true | |
Entity Central Index Key | 1,490,054 | |
Current Fiscal Year End Date | --04-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | FY | |
Entity Incorporation, Date of Incorporation | Feb. 24, 2010 | Feb. 24, 2010 |
Trading Symbol | aphd | |
Amendment Description | We hereby amend this registration statement on such date or dates as may be necessary to delay our effective date until the registrant shall file a further amendment which specifically states that this registration statement shall, thereafter, become effective in accordance with Section 8(a) of the Securities Act of 1933, or until the registration statement shall become effective on such date as the Commission, acting pursuant to Section 8(a) may determine. |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 |
Current Assets | |||
Cash | $ 61,448 | $ 323 | |
Accounts receivable | 8,623 | 1,004 | |
Prepaid expense | $ 126 | ||
Total Assets | 70,071 | 1,327 | 126 |
Current Liabilities | |||
Accounts payable and accrued liabilities | 210,298 | 195,999 | 124,655 |
Due to related parties | 34,528 | 62,486 | 28,284 |
Convertible debenture, net of unamortized discount of $nil and $6,982, respectively | 126,094 | 73,905 | 75,883 |
Notes payable | 14,616 | 4,616 | 0 |
Derivative liability | 360,746 | 140,196 | 357,985 |
Total Liabilities | 746,282 | 477,202 | 586,807 |
STOCKHOLDERS' DEFICIT | |||
Preferred stock Authorized: 10,000,000 preferred shares with a par value of $0.001 per share Issued and outstanding: nil preferred shares | |||
Common stock Authorized: 250,000,000 common shares with a par value of $0.001 per share Issued and outstanding: 33,798,502 and 1,856,671 common shares, respectively | 39,772 | 33,799 | 1,857 |
Additional paid-in capital | 1,402,709 | 1,281,817 | 1,077,315 |
Accumulated deficit | (2,118,692) | (1,791,491) | (1,665,853) |
Total Stockholders' Deficit | (676,211) | (475,875) | (586,681) |
Total Liabilities and Stockholders' Deficit | $ 70,071 | $ 1,327 | $ 126 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) | Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 |
Statement of Financial Position | |||
Preferred Stock, par or stated value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred Stock, shares issued | |||
Preferred Stock, shares outstanding | |||
Common Stock, par or stated value | $ 0.001 | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 250,000,000 | 250,000,000 | 250,000,000 |
Common Stock, shares issued | 39,772,124 | 33,798,502 | 1,856,671 |
Common Stock, shares outstanding | 39,772,124 | 33,798,502 | 1,856,671 |
Convertible Debenture, Unamortized Discount | $ 91,573 | $ 6,982 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 12 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | |
Income Statement | ||||
Revenues | $ 11,567 | $ 904 | $ 258 | |
Cost of goods sold | 5,667 | |||
Gross profit | 5,900 | |||
Operating Expenses | ||||
Consulting fees | 45,500 | |||
General and administrative | 13,648 | $ (1,661) | 16,722 | 56,560 |
Management fees | 100,000 | 124,565 | ||
Professional fees | 27,684 | 12,299 | 80,489 | 52,649 |
Total Operating Expenses | 86,832 | 10,638 | 197,211 | 233,774 |
Net loss before other income (expense) | (80,932) | (10,638) | (196,307) | (233,516) |
Other Income (Expenses) | ||||
Loss on extinguishment of debt | (4,505) | (126) | ||
Interest expense | (4,385) | (10,339) | (19,655) | (133,146) |
Gain (Loss) on change in fair value of derivative liability | (237,379) | 199,600 | 90,324 | (431,203) |
Total Other Income (Expenses) | (246,269) | 189,261 | 70,669 | (564,349) |
Net Income (Loss) | $ (327,201) | $ 178,623 | $ (125,638) | $ (797,865) |
Net Loss Per Share, Basic and Diluted | $ (0.01) | $ (1) | ||
Weighted Average Shares Outstanding - Basic and Diluted | 12,604,626 | 802,446 |
Consolidated Stockholder's Defi
Consolidated Stockholder's Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Total |
Stockholders' Equity, beginning of period, Value at Apr. 30, 2014 | $ 111 | $ 598,557 | $ (867,988) | $ (269,320) |
Stockholders' Equity, beginning of period, Shares at Apr. 30, 2014 | 111,145 | |||
Shares issued upon conversion of notes payable, Value | $ 1,371 | 302,798 | 304,169 | |
Shares issued upon conversion of notes payable, Shares | 1,370,526 | |||
Shares issued for management fees, Value | $ 375 | 97,125 | 97,500 | |
Shares issued for management fees, Shares | 375,000 | |||
Forgiveness of debt | 78,835 | 78,835 | ||
Net Loss | (797,865) | (797,865) | ||
Stockholders' Equity, end of period, Value at Apr. 30, 2015 | $ 1,857 | 1,077,315 | (1,665,853) | (586,681) |
Stockholders' Equity, end of period, Shares at Apr. 30, 2015 | 1,856,671 | |||
Shares issued upon conversion of notes payable, Value | $ 1,942 | 134,502 | 136,444 | |
Shares issued upon conversion of notes payable, Shares | 1,941,831 | |||
Shares issued for management fees, Value | $ 10,000 | 90,000 | 100,000 | |
Shares issued for management fees, Shares | 10,000,000 | |||
Shares issued for acquisition of licenses, Value | $ 20,000 | (20,000) | ||
Shares issued for acquisition of licenses, Shares | 20,000,000 | |||
Net Loss | (125,638) | (125,638) | ||
Stockholders' Equity, end of period, Value at Apr. 30, 2016 | $ 33,799 | $ 1,281,817 | $ (1,791,491) | (475,875) |
Stockholders' Equity, end of period, Shares at Apr. 30, 2016 | 33,798,502 | |||
Stockholders' Equity, end of period, Value at Jul. 31, 2016 | $ (676,211) |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 12 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | |
Operating Activities | ||||
Net Loss | $ (327,201) | $ 178,623 | $ (125,638) | $ (797,865) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
Loss on extinguishment of debt | 4,505 | 126 | ||
Amortization of discount on convertible debt payable | 677 | 6,982 | 6,982 | 92,793 |
Expenses paid by related party | 29,118 | 19,515 | ||
Financing costs | 126 | 4,374 | ||
Loss (gain) on change in fair value of derivative liability | 237,379 | (199,600) | (90,324) | 431,203 |
Shares issued for default penalty | 25,750 | |||
Shares issued for management fees | 100,000 | 97,500 | ||
Changes in operating assets and liabilities: | ||||
Accounts receivable | (7,619) | (1,004) | 91 | |
Other current assets | (4,500) | |||
Accounts payable and accrued liabilities | 25,540 | 12,218 | 71,363 | 42,429 |
Accrued compensation | 27,065 | |||
Net Cash Used In Operating Activities | (66,719) | (1,651) | (9,377) | (61,645) |
Financing Activities | ||||
Proceeds from convertible debenture | 145,000 | 77,500 | ||
Proceeds from notes payable | 10,000 | 4,616 | ||
Proceeds from related party payable | 1,651 | 15,084 | 8,793 | |
Repayment on related party payable | (27,156) | (10,000) | (29,850) | |
Net Cash Provided by Financing Activities | 127,844 | 1,651 | 9,700 | 56,443 |
Increase (Decrease) in Cash | 61,125 | 323 | (5,202) | |
Cash - Beginning of Period | 323 | 5,202 | ||
Cash - End of Period | 61,448 | 323 | ||
Supplemental Disclosures | ||||
Interest paid | ||||
Income tax paid | ||||
Non-cash investing and financing activities | ||||
Common stock issued in exchange for license agreements | 20,000 | |||
Common stock issued for conversion of convertible debentures | $ 126,865 | $ 136,444 | 304,169 | |
Common stock issued for forgiveness of debt | 78,835 | |||
Common stock issued for management fees | $ 97,500 |
1. Nature of Operations and Con
1. Nature of Operations and Continuance of Business | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
1. Nature of Operations and Continuance of Business | 1. Nature of Operations and Continuance of Business Appiphany Technologies Holdings Corp. (the "Company") was incorporated in the State of Nevada on February 24, 2010. On May 1, 2010, the Company entered into a share exchange agreement with Appiphany Technologies Corporation ("ATC") to acquire all of the outstanding common shares of ATC in exchange for 1,500,000 common shares of the Company. As the acquisition involved companies under common control, the acquisition was accounted for in accordance with ASC 805-50, Business Combinations Related Issues, and the consolidated financial statements reflect the accounts of the Company and ATC since inception. On November 18, 2015, ATC was dissolved. The Company is in the business of providing online fraud protection services. Going Concern These consolidated financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As at July 31, 2016, the Company has not recognized significant revenue, has a working capital deficit of $676,211, and has an accumulated deficit of $2,118,692. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company's future operations. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | NOTE 1. Nature of Operations and Continuance of Business Appiphany Technologies Holdings Corp. ("The Company") was incorporated in the State of Nevada on February 24, 2010. On May 1, 2010, the Company entered into a share exchange agreement with Appiphany Technologies Corporation ("ATC") to acquire all of the outstanding common shares of ATC in exchange for 1,500,000 common shares of the Company. As the acquisition involved companies under common control, the acquisition was accounted for in accordance with ASC 805-50, Business Combinations Related Issues, and the consolidated financial statements reflect the accounts of the Company and ATC since inception. On November 18, 2015, ATC was dissolved. Going Concern These consolidated financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As at April 30, 2016, the Company has not recognized significant revenue, has a working capital deficit of $475,875, and has an accumulated deficit of $1,791,491. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company's future operations. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
2. Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies (a) Basis of Presentation and Principles of Consolidation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("US GAAP") and are expressed in U.S. dollars. The consolidated financial statements are comprised of the records of the Company and its wholly owned subsidiary, Appiphany Technologies Corp., a company incorporated in British Columbia, Canada, until its dissolution on November 18, 2015. All intercompany transactions have been eliminated on consolidation. The Company's fiscal year end is April 30. (b) Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable, fair value and estimated useful life of long-lived assets, fair value of convertible debentures, derivative liabilities, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) Interim Condensed Consolidated Financial Statements These interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company's financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. (d) Cash and cash equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As at July 31 and April 30, 2016, the Company had no items representing cash equivalents. (e) Accounts Receivable The Company recognizes allowances for doubtful accounts to ensure accounts receivable are not overstated due to the inability or unwillingness of its customers to make required payments. The allowance is based on the business environment, historical bad debt expense, the age of receivables, and the specific identification of receivables the Company considers at risk. The Company reviews the adequacy of its allowance for doubtful accounts on a regular basis. (f) Basic and Diluted Net Income (Loss) per Share The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share (g) Financial Instruments Pursuant to ASC 820, Fair Value Measurements and Disclosures Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company's financial instruments consist principally of accounts receivable, accounts payable and accrued liabilities, amounts due to related parties, convertible debentures, and notes payable. Pursuant to ASC 820, the fair value of our cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The fair value of our derivative liability is determined to be a "Level 2" input. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. (h) Comprehensive Loss ASC 220, Comprehensive Income (i) Revenue Recognition The Company recognizes revenue from online fraud protection services. Revenue will be recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured. The Company is not exposed to any credit risks as amounts are prepaid prior to performance of services. Commencing May 1, 2016, the Company changed its accounting policy with respect to revenue recognition to record revenue on a gross basis as compared to a net basis as the Company reassessed the application of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (j) Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation Stock Compensation Equity Based Payments to Non-Employees, ASC 718 requires company to estimate the fair value of share-based awards on the date of grant using an option-pricing model. The Company uses the Black-Scholes option pricing model as its method of determining fair value. This model is affected by the Company's stock price as well as assumptions regarding a number of subjective variables. These subjective variables include, but are not limited to the Company's expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviours. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the statement of operations over the requisite service period. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. (k) Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, "Interest Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs" (ASU 2015-03), which resulted in the reclassification of debt issuance costs from "Other Assets" to inclusion as a reduction of the debt balance. The Company had adopted ASU 2015-03 during the three months ended July 31, 2016, with full retrospective application as required by the guidance. These standards did not have a material impact on the Company's condensed consolidated balance sheets and had no impact on the cash flows provided by or used in operations for any period presented. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. | NOTE 2. Summary of Significant Accounting Policies a) Basis of Presentation and Principles of Consolidation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("US GAAP") and are expressed in U.S. dollars. The consolidated financial statements are comprised of the records of the Company and its wholly owned subsidiary, Appiphany Technologies Corp., a company incorporated in British Columbia, Canada. All intercompany transactions have been eliminated on consolidation. The Company's fiscal year end is April 30. b) Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the fair value and estimated useful life of long-lived assets, fair value of convertible debentures, derivative liabilities, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. c) Cash and cash equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As at April 30, 2016 and 2015, the Company had no items representing cash equivalents. d) Basic and Diluted Net Loss per Share The Company computes net loss per share in accordance with ASC 260, Earnings per Share e) Financial Instruments Pursuant to ASC 820, Fair Value Measurements and Disclosures Level 1 Level 2 Level 3 The Company's financial instruments consist principally of cash, amounts receivable, accounts payable and accrued liabilities, accrued compensation, and amounts due to related parties. Pursuant to ASC 820, the fair value of our cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The fair value of our derivative liability is determined to be a "Level 2" input. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. f) Comprehensive Loss ASC 220, Comprehensive Income g) Revenue Recognition The Company recognizes revenue from online fraud protection services. Revenue will be recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured. The Company is not exposed to any credit risks as amounts are prepaid prior to performance of services. Revenue is recorded on an agency basis in accordance with Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. h) Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation Stock Compensation Equity Based Payments to Non-Employees, ASC 718 requires company to estimate the fair value of share-based awards on the date of grant using an option-pricing model. The Company uses the Black-Scholes option pricing model as its method of determining fair value. This model is affected by the Company's stock price as well as assumptions regarding a number of subjective variables. These subjective variables include, but are not limited to the Company's expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviours. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the statement of operations over the requisite service period. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. i) Recent Accounting Pronouncements The Company has limited operations and is considered to be in the development stage. For the year ended April 30, 2016, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to exploration stage. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
3. Acquisition of License Agree
3. Acquisition of License Agreements | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
3. Acquisition of License Agreements | 3. Acquisition of License Agreements (a) On January 14, 2016, the Company entered into a purchase agreement with a company controlled by the President and Director of the Company. Pursuant to the agreement, the Company agreed to purchase two licenses including the accounts receivable generated by the two licenses, in exchange for 20,000,000 common shares of the Company. In accordance with ASC 805-50, "Business Combinations: Related Issues", the purchase agreement was deemed an acquisition of assets between entities under common control for accounting purposes as the transaction was non arms-length. The licenses and accounts receivable acquired were recorded at their carrying value of $nil. (b) On January 18, 2016, the Company entered into a license agreement (the "Agreement") with Comsec Solutions Limited ("Comsec") where the Company acquired the right to market and distribute Watchdog, a market leading web monitoring tool owned by Comsec, in North and South America. In exchange for the rights, the Company agreed to pay a monthly base fee of up to £4,750, depending on the service provided, and 15% commission fee for all revenues including a minimum revenue base of £140,000 in the first year and £100,000 in subsequent years. | NOTE 3. Acquisition of License Agreements a) On January 14, 2016, the Company entered into a purchase agreement with a company controlled by the President and Director of the Company. Pursuant to the agreement, the Company agreed to purchase two licenses including the accounts receivable generated by the two licenses, in exchange for 20,000,000 common shares of the Company. In accordance with ASC 805-50, " Business Combinations: Related Issues" b) On January 18, 2016, the Company entered into a license agreement (the "Agreement") with Comsec Solutions Limited ("Comsec") where the Company acquired the right to market and distribute Watchdog, a market leading web-monitoring tool owned by Comsec, in North and South America. In exchange for the rights, the Company agreed to pay a monthly base fee of up to £4,750, depending on the service provided, and 15% commission fee for all revenues including a minimum revenue base of £140,000 in the first year and £100,000 in subsequent years. |
4. Related Party Transactions
4. Related Party Transactions | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
4. Related Party Transactions | 4. Related Party Transactions As at July 31, 2016, the Company owed $34,528 (April 30, 2016 - $62,486) to the President and Director of the Company for financing of day-to-day expenditures incurred on behalf of the Company. The amount owing is unsecured, non-interest bearing, and due on demand. | NOTE 4. Related Party Transactions a) During the year ended April 31, 2016, the Company incurred $nil (2015 - $27,065) of management fees to the former President and Director of the Company. During the year ended April 30, 2015, the amount owing of $78,835 owing for accrued management fees and financing of day-to-day expenditures incurred on behalf of the Company was forgiven and included in additional paid-in capital. b) During the year ended April 30, 2016, the Company issued 10,000,000 (2015 375,000) common shares with a fair value of $100,000 (2015 - $97,500) to the President and Director of the Company. c) As at April 30, 2016, the Company owed $nil (2014 - $499) of professional fees paid on its behalf by the former Secretary and Treasurer of the Company, which is included in accounts payable and accrued liabilities. d) As at April 30, 2016, the Company owed $41,197 (2015 - $19,155) and $21,289 (Cdn$ - $26,715) (2015 - $8,769; Cdn$10,625) to the President and Director of the Company for financing of day-to-day expenditures incurred on behalf of the Company. The amount owing is unsecured, non-interest bearing, and due on demand. e) As at April 30, 2016, the Company owed $nil (2015 - $9,000) to the former Secretary and Treasurer of the Company in accrued compensation. |
5. Notes Payable
5. Notes Payable | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
5. Notes Payable | 5. Notes payable (a) As at July 31, 2016, the Company owed $14,616 (April 30, 2016 - $4,616) in notes payable to non-related parties. Under the terms of the notes, the amounts are unsecured, bears interest at 5-6% per annum, and due on demand. (b) On June 6, 2016, the Company issued a note payable to a non-related party for proceeds of $10,000. Under the terms of the note, the amount is unsecured, bears interest at 5% per annum, and is due on demand. | NOTE 7. Notes Payable As at April 30, 2016, the Company owed $4,616 (2015 - $nil) in notes payable to non-related parties. Under the terms of the notes, the amounts are unsecured, bears interest at 6% per annum, and due on July 31, 2016. |
6. Convertible Debentures
6. Convertible Debentures | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
6. Convertible Debentures | 6. Convertible Debentures (a) On December 17, 2013, the Company issued a convertible debenture to a non-related party for proceeds of $32,500. Under the terms of the debenture, the amount is unsecured, bears interest at 8% per annum, and is due on September 19, 2014. Interest on overdue principal after default accrues at an annual rate of 22%. After 180 days or June 15, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. On September 19, 2014, as the amount of the convertible debenture had not been repaid or converted by maturity, the Company incurred a penalty of 50% of the principal balance owing resulting in the Company recording $16,250 which had been included in interest expense. Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". The fair value of the derivative liability resulted in a full discount to the note payable of $32,500. The carrying value of the convertible note will be accreted over the term of the convertible note up to the face value of $32,500. During the year ended April 30, 2015, the Company issued 595,667 shares of common stock for the conversion of $39,130. On May 17, 2016, the convertible debenture and accrued interest was extinguished pursuant to the issuance of a $10,000 convertible debenture issued to a non-related party. Refer to Note 6(d). As at July 31, 2016, the carrying value of the note was $nil (April 30, 2016 - $9,620). (b) On May 21, 2014, the Company issued a convertible debenture, to a non-related party, for proceeds of $37,500. Under the terms of the debenture, the amount is unsecured, bears interest at 8% per annum, and is due on February 23, 2015. After 180 days or November 17, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". The fair value of the derivative liability resulted in a full discount to the note payable of $37,500. The carrying value of the convertible note will be accreted over the term of the convertible note up to the face value of $37,500. During the year ended April 30, 2015, the Company issued 360,000 shares of common stock for the conversion of $2,920. During the year ended April 30, 2016, the Company issued 1,850,000 shares of common stock for the conversion of $8,772 of the note. During the three months ended July 31, 2016, the Company issued 3,217,352 shares of common stock for the conversion of $8,368 of the note. As at July 31, 2016, the carrying value of the note was $17,440 (April 30, 2016 - $25,808). (c) On May 23, 2014, the Company issued a convertible debenture, to a non-related party, for proceeds of $40,000. Under the terms of the debenture, the amount is unsecured, bears interest at 8% per annum, and is due on May 23, 2015. After 180 days or November 19, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 55% of the lowest trading price of the Company's common shares for the past 15 trading days prior to notice of conversion. On June 13, 2016, this note was assigned to a new note holder for $31,000, resulting in a gain on extinguishment of $5,744 (2015 - $nil). Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". The fair value of the derivative liability resulted in a discount to the note payable of $25,215. The carrying value of the convertible note will be accreted over the term of the convertible note up to the face value of $40,000. During the year ended April 30, 2015, the Company issued 127,655 shares of common stock for the conversion of $1,335 of the note and $69 of accrued interest. During the year ended April 30, 2016, the Company issued 91,831 shares of common stock for the conversion of $188 of the note and $19 of accrued interest. As at July 31, 2016, the carrying value of the note was $38,477 (April 30, 2016 - $38,477). (d) On May 17, 2016, the Company issued a $10,000 convertible debenture to a non-related party in extinguishment of a convertible debenture originally issued on December 17, 2013 of $9,620 and $6,270 of accrued interest as at May 17, 2016 as noted in Note 5(a). Due to the change of conversion terms the fair value of the derivative liability increased from $249,702 to $265,841, resulting in a loss in extinguishment of $10,249. Under the terms of the debenture, the amount is unsecured, bears interest at 10% per annum (up to 24% per annum default rate), and is due on May 17, 2017. The debenture is convertible into common shares of the Company at a conversion price equal to 50% of the lowest trading prices of the Company's common shares (i) on May 12, 2016; or (ii) for the past 25 trading days prior to notice of conversion. Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". During the three months ended July 31, 2016, the Company issued 2,756,270 shares of common stock for the conversion of $7,000 of the note and $29 of accrued interest. As at July 31, 2016, the carrying value of the note was $3,000 (April 30, 2016 - $nil). (e) On May 17, 2016, the Company issued a convertible debenture to a non-related party for $33,000. Pursuant to the agreement, the note was issued with a 10% original issue discount and as such the purchase price was $30,000. Under the terms of the debenture, the amount is unsecured, bears interest at 10% per annum (up to 24% per annum default rate), and is due on May 17, 2017. The debenture is convertible into common shares of the Company at a conversion price equal to 50% of the lowest trading price of the Company's common stock of either (i) the twenty-five prior trading days immediately preceding the issuance of the note or (ii) the twenty-five prior trading days including the day upon which a notice of conversion is received by the Company. There was also financing costs, which resulted in the Company recording a debt discount of approximately $5,000 resulting from these debt issuance costs which is being amortized over the life of the loan. Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". The fair value of the derivative liability resulted in a discount to the note payable of $33,000 of which $5,000 of the discount resulted from debt issuance costs. The carrying value of the convertible note will be accreted over the term of the convertible note up to the face value of $33,000. As at July 31, 2016, the carrying value of the note was $7 (April 30, 2016 - $nil), and the unamortized total discount was $32,993 (April 30, 2016 - $nil). (f) The Company analyzed the conversion option of the note for derivative accounting consideration under ASC 815-15 "Derivatives and Hedging" and determined that the embedded conversion feature should be classified as a liability. However, due to the conversion option not being effective until December 13, 2016, the Company will delay measuring the derivative liability until such date. There was also debt issuance costs, which resulted in the Company recording a debt discount of approximately $2,500. As at July 31, 2016, the carrying value of the note was $67,156 (April 30, 2016 - $nil), and the unamortized discount was $1,844 (April 30, 2016 - $nil). (g) On July 21, 2016, the Company issued a convertible debenture, to a non-related party, for proceeds of $56,750. Under the terms of the debenture, the amount is unsecured, bears interest at 10% per annum (up to 24% per annum default rate), and is due on April 21, 2017. The debenture is convertible into common shares of the Company at a conversion price equal to 50% of the lowest trading price of the Company's common stock of either (i) the twenty-five prior trading days immediately preceding the issuance of the note or (ii) the twenty-five prior trading days including the day upon which a notice of conversion is received by the Company. Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". The fair value of the derivative liability resulted in a discount to the note payable of $56,750 of which $6,250 of the discount resulted from debt issuance costs. The carrying value of the convertible note will be accreted over the term of the convertible note up to the face value of $56,750. As at July 31, 2016, the carrying value of the note was $14 (April 30, 2016 - $nil), and the unamortized total discount was $56,736 (April 30, 2016 - $nil). | NOTE 5. Convertible Debentures a) On December 17, 2013, the Company issued a convertible debenture to a non-related party for proceeds of $32,500. Under the terms of the debenture, the amount is unsecured, bears interest at 8% per annum, and is due on September 19, 2014. Interest on overdue principal after default accrues at an annual rate of 22%. After 180 days or June 15, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. On September 19, 2014, as the amount of the convertible debenture had not been repaid or converted by maturity, the Company incurred a penalty of 50% of the principal balance owing resulting in the Company recording $16,250 which had been included in interest expense. Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". The fair value of the derivative liability resulted in a full discount to the note payable of $32,500. The carrying value of the convertible note will be accreted over the term of the convertible note up to the face value of $32,500. During the year ended April 30, 2015, the Company issued 595,667 shares of common stock for the conversion of $39,130. As at April 30, 2016, the carrying value of the note was $9,620 (2015 - $9,620). b) On May 21, 2014, the Company issued a convertible debenture, to a non-related party, for proceeds of $37,500. Under the terms of the debenture, the amount is unsecured, bears interest at 8% per annum, and is due on February 23, 2015. After 180 days or November 17, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". The fair value of the derivative liability resulted in a full discount to the note payable of $37,500. The carrying value of the convertible note will be accreted over the term of the convertible note up to the face value of $37,500. During the year ended April 30, 2015, the Company issued 360,000 shares of common stock for the conversion of $2,920. During the year ended April 30, 2016, the Company issued 1,850,000 shares of common stock for the conversion of $8,772 of the note. As at April 30, 2016, the carrying value of the note was $25,808 (2015 - $34,580). c) On May 23, 2014, the Company issued a convertible debenture, to a non-related party, for proceeds of $40,000. Under the terms of the debenture, the amount is unsecured, bears interest at 8% per annum, and is due on May 23, 2015. After 180 days or November 19, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 55% of the lowest trading price of the Company's common shares for the past 15 trading days prior to notice of conversion. Due to this provision, the embedded conversion option qualifies for derivative accounting under ASC 815-15 "Derivatives and Hedging". The fair value of the derivative liability resulted in a discount to the note payable of $25,215. The carrying value of the convertible note will be accreted over the term of the convertible note up to the face value of $40,000. During the year ended April 30, 2015, the Company issued 127,655 shares of common stock for the conversion of $1,335 of the note and $69 of accrued interest. During the year ended April 30, 2016, the Company issued 91,831 shares of common stock for the conversion of $188 of the note and $19 of accrued interest. As at April 30, 2016, the carrying value of the note was $38,477 (2015 - $31,683). |
7. Derivative Liability
7. Derivative Liability | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
7. Derivative Liability | 7. Derivative Liability The Company records the fair value of the conversion price of the convertible debentures, as disclosed in Note 5, in accordance with ASC 815, Derivatives and Hedging The following inputs and assumptions were used to value the convertible debentures outstanding during the periods ended July 31 and April 30, 2016: Expected Volatility Risk-free Interest Rate Expected Dividend Yield Expected Life (in years) December 17, 2013 convertible debenture: As at April 30, 2016 (mark to market) 366% 0.56% 0% 1.00 As at May 17, 2016 (date of exchange) 433% 0.58% 0% 0.84 May 21, 2014 convertible debenture: As at April 30, 2016 (mark to market) 312% 0.56% 0% 0.83 As at June 13, 2016 (date of conversion) 485% 0.40% 0% 0.71 As at July 31, 2016 (mark to market) 468% 0.38% 0% 0.58 May 23, 2014 convertible debenture: As at April 30, 2016 (mark to market) 111% 0.56% 0% 0.06 As at July 31, 2016 (mark to market) 472% 0.50% 0% 0.81 May 17, 2016 convertible debenture for $10,000: As at May 17, 2016 (date note became convertible) 467% 0.58% 0% 1.00 As at June 28, 2016 (date of conversion) 490% 0.35% 0% 0.88 As at July 27, 2016 (date of conversion) 508% 0.40% 0% 0.81 As at July 31, 2016 (mark to market) 513% 0.38% 0% 0.79 May 17, 2016 convertible debenture for $33,000: As at May 17, 2016 (issuance date) 476% 0.58% 0% 1.00 As at July 31, 2016 (mark to market) 458% 0.50% 0% 0.79 July 21, 2016 convertible debenture: As at July 21, 2016 (issuance date) 470% 0.54% 0% 0.75 As at July 31, 2016 (mark to market) 481% 0.50% 0% 0.72 A summary of the activity of the derivative liability is shown below: Balance, April 30, 2016 140,196 New issuances 925,403 Debt discounts 78,500 Adjustment for conversion (111,468 Mark to market adjustment at July 31, 2016 (671,885 Balance, July 31, 2016 360,746 | NOTE 6. Derivative Liability The Company records the fair value of the of the conversion price of the convertible debentures disclosed in Note 6 in accordance with ASC 815, Derivatives and Hedging The following inputs and assumptions were used to value the convertible debentures outstanding during the period ended April 30, 2016 and 2015: Expected Volatility Risk-free Interest Rate Expected Dividend Yield Expected Life (in years) December 17, 2013 convertible debenture: As at June 15, 2014 (date note became convertible) 433% 0.03% 0% 0.26 As at July 31, 2014 (mark to market) 362% 0.01% 0% 0.14 As at September 19, 2014 (date of default penalty) 426% 0.04% 0% 0.50 As at October 30, 2014 (date of conversion) 335% 0.06% 0% 0.39 As at October 31, 2014 (mark to market) 336% 0.05% 0% 0.38 As at November 3, 2014 (date of conversion) 348% 0.07% 0% 0.38 As at November 7, 2014 (date of conversion) 352% 0.05% 0% 0.37 As at November 10, 2014 (date of conversion) 355% 0.02% 0% 0.36 As at November 18, 2014 (date of conversion) 370% 0.02% 0% 0.34 As at January 31, 2015 (mark to market) 528% 0.01% 0% 0.13 As at March 5, 2015 (date of conversion) 693% 0.25% 0% 1.00 As at April 16, 2015 (date of conversion) 736% 0.22% 0% 0.88 As at April 22, 2015 (date of conversion) 742% 0.23% 0% 0.87 As at April 30, 2015 (mark to market) 747% 0.24% 0% 0.85 As at April 30, 2016 (mark to market) 366% 0.56% 0% 1.00 May 21, 2014 convertible debenture: As at November 17, 2014 (date note became convertible) 301% 0.03% 0% 0.27 As at January 9, 2015 (date of conversion) 597% 0.02% 0% 0.12 As at January 15, 2015 (date of conversion) 577% 0.03% 0% 0.11 As at January 21, 2015 (date of conversion) 650% 0.01% 0% 0.09 As at January 22, 2015 (date of conversion) 635% 0.02% 0% 0.09 As at January 30, 2015 (date of conversion) 496% 0.01% 0% 0.07 As at January 31, 2015 (mark to market) 528% 0.01% 0% 0.06 As at April 16, 2015 (date of conversion) 512% 0.22% 0% 0.86 As at April 30, 2015 (mark to market) 520% 0.24% 0% 0.82 As at December 7, 2015 (date of conversion) 251% 0.29% 0% 0.21 As at April 5, 2016 (date of conversion) 371% 0.56% 0% 0.90 As at April 30, 2016 (mark to market) 312% 0.56% 0% 0.83 May 23, 2014 convertible debenture: As at November 19, 2014 (date note became convertible) 444% 0.07% 0% 0.51 As at January 14, 2015 (mark to market) 462% 0.04% 0% 0.35 As at January 26, 2015 (mark to market) 494% 0.03% 0% 0.32 As at January 31, 2015 (mark to market) 505% 0.02% 0% 0.31 As at April 30, 2015 (mark to market) 576% 0.00% 0% 0.06 As at April 30, 2016 (mark to market) 111% 0.56% 0% 0.06 A summary of the activity of the derivative liability is shown below: Balance, April 30, 2014 47,706 Derivative loss due to new issuances 38,016 Debt discount 95,215 Adjustment for conversion (216,139) Mark to market adjustment at April 30, 2015 393,187 Balance, April 30, 2015 357,985 Adjustment for conversion (127,465) Mark to market adjustment at April 30, 2016 (90,324) Balance, April 30, 2016 140,196 |
8. Common Shares
8. Common Shares | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
8. Common Shares | 8 . Common Shares (a) On June 13, 2016, the Company issued 3,217,352 common shares for the conversion of $8,368 of convertible debentures, as noted in Note 5(e). (b) On June 28, 2016, the Company issued 1,176,470 common shares for the conversion of $3,000 of convertible debentures, as noted in Note 5(d). (c) On July 27, 2016, the Company issued 1,579,800 common shares for the conversion of $4,000 of convertible debentures and $28 of accrued interest, as noted in Note 5(d). | NOTE 8. Common Shares Share Transactions for the Year Ended April 30, 2016 a) On September 8, 2015, the Company issued 91,831 common shares upon the conversion of $188 of convertible note payable, $19 of accrued interest payable as described in Note 5(c), and derivative liability of $348. b) On November 17, 2015, the Company issued 10,000,000 common shares with a fair value of $100,000 to the President and Director of the Company for management services. Fair value was based on the closing market price on the date of issuance. c) On December 8, 2015, the Company issued 550,000 common shares upon the conversion of $2,805 of convertible note payable as described in Note 5(b), and derivative liability of $16,083. d) On January 14, 2016, the Company issued 20,000,000 common shares to the President and Director of the Company for the acquisition of licenses. Refer to Note 3. e) On April 7, 2016, the Company issued 1,300,000 common shares upon the conversion of $5,967 of convertible note payable as described in Note 5(b), and derivative liability of $111,034. Share Transactions for the Year Ended April 30, 2015 a) On January 31, 2015, the Company issued 375,000 common shares with a fair value of $97,500 to the President and Director of the Company for management services. Fair value was based on the closing market price on the date of Board approval. b) On February 3, 2015, the Company effected a 1-for-200 reverse split of its issued and outstanding common shares, which has been applied on a retroactive basis. c) During the year ended April 30, 2015, the Company issued 73,169 common shares upon the conversion of $11,900 of convertible notes payable and $2,185 of accrued interest payable. d) During the year ended April 30, 2015, the Company issued 214,035 common shares upon the conversion of $28,500 of convertible notes payable and $760 of accrued interest payable. e) During the year ended April 30, 2015, the Company issued 595,667 common shares upon the conversion of $39,130 of convertible notes payable as described in Note 5(a). f) During the year ended April 30, 2015, the Company issued 360,000 common shares upon the conversion of $2,920 of convertible notes payable as described in Note 5(b). g) During the year ended April 30, 2015, the Company issued 127,655 common shares upon the conversion of $1,335 of convertible notes payable and $69 of accrued interest payable as described in Note 5(c). |
9. Subsequent Events
9. Subsequent Events | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Notes | ||
9. Subsequent Events | 9. Subsequent Events We have evaluated subsequent events through the date of issuance of the financial statements, and did not have any material recognizable subsequent events after July 31, 2016 other than the following: (a) On August 18, 2016, the Company issued a convertible debenture to a non-related party for $27,000. Pursuant to the agreement, the note was issued with a 10% original issue discount and as such the purchase price was $30,000. Under the terms of the debenture, the amount is unsecured, bears interest at 8% per annum, and is due on August 18, 2017. The debenture is convertible into common shares of the Company at a conversion price equal to 55% of the lowest trading price of the Company's common shares for the past 15 trading days prior to notice of conversion. In connection with the debt financing, the Company paid financing costs of $7,000. (b) On September 6, 2016, the Company issued 500,000 common shares to a consultant pursuant to a consulting agreement dated August 26, 2016. | NOTE 10. Subsequent Events a) On May 17, 2016, the Company issued a convertible promissory note to an unrelated party for $33,000. Pursuant to the agreement, the note was issued with a 10% original issue discount and as such the purchase price was $30,000. The note is convertible into common stock of the Company at a price equal to 50% of the lowest trading price of the Company's common stock of either (i) the twenty-five prior trading days immediately preceding the issuance of the note or (ii) the twenty-five prior trading days including the day upon which a notice of conversion is received by the Company. The promissory note shall bear interest at 10% per annum and is due on May 17, 2017. b) On June 13, 2016, the Company issued 3,217,352 shares of common stock for the conversion of $8,368 of convertible debentures, as noted in Note 5(b). c) On June 28, 2016, the Company issued 1,176,470 shares of common stock for the conversion of $3,000 of convertible debentures, as noted in Note 5(a). d) On July 27, 2016, the Company issued 1,579,800 shares of common stock for the conversion of $4,000 of convertible debentures and $28 of accrued interest, as noted in Note 5(a). |
9. Subsequent Events | 9. Subsequent Events We have evaluated subsequent events through the date of issuance of the financial statements, and did not have any material recognizable subsequent events after July 31, 2016 other than the following: (a) On August 18, 2016, the Company issued a convertible debenture to a non-related party for $27,000. Pursuant to the agreement, the note was issued with a 10% original issue discount and as such the purchase price was $30,000. Under the terms of the debenture, the amount is unsecured, bears interest at 8% per annum, and is due on August 18, 2017. The debenture is convertible into common shares of the Company at a conversion price equal to 55% of the lowest trading price of the Company's common shares for the past 15 trading days prior to notice of conversion. In connection with the debt financing, the Company paid financing costs of $7,000. (b) On September 6, 2016, the Company issued 500,000 common shares to a consultant pursuant to a consulting agreement dated August 26, 2016. | NOTE 10. Subsequent Events a) On May 17, 2016, the Company issued a convertible promissory note to an unrelated party for $33,000. Pursuant to the agreement, the note was issued with a 10% original issue discount and as such the purchase price was $30,000. The note is convertible into common stock of the Company at a price equal to 50% of the lowest trading price of the Company's common stock of either (i) the twenty-five prior trading days immediately preceding the issuance of the note or (ii) the twenty-five prior trading days including the day upon which a notice of conversion is received by the Company. The promissory note shall bear interest at 10% per annum and is due on May 17, 2017. b) On June 13, 2016, the Company issued 3,217,352 shares of common stock for the conversion of $8,368 of convertible debentures, as noted in Note 5(b). c) On June 28, 2016, the Company issued 1,176,470 shares of common stock for the conversion of $3,000 of convertible debentures, as noted in Note 5(a). d) On July 27, 2016, the Company issued 1,579,800 shares of common stock for the conversion of $4,000 of convertible debentures and $28 of accrued interest, as noted in Note 5(a). |
Note 9. Income Taxes
Note 9. Income Taxes | 12 Months Ended |
Apr. 30, 2016 | |
Notes | |
Note 9. Income Taxes | NOTE 9. Income Taxes The Company has $1,039,212 of net operating losses carried forward to offset taxable income in future years which expire commencing in fiscal 2030. The income tax benefit differs from the amount computed by applying the US federal income tax rate of 34% and the Canada federal and provincial tax rate of 26% to net loss before income taxes for the year ended April 30, 2016 and 2015 as a result of the following: 2016 $ 2015 $ Net loss before taxes (125,638) (797,865) Statutory rate 34% 34% Computed expected tax recovery (42,717) (271,274) Permanent differences and other 2,343 178,159 Change in valuation allowance 40,374 93,115 Income tax provision The significant components of deferred income tax assets and liabilities as at April 30, 2016 and 2015 after applying enacted corporate income tax rates are as follows: 2016 $ 2015 $ Net operating losses carried forward 353,332 312,958 Total gross deferred income tax assets 353,332 312,958 Valuation allowance (353,332) (312,958) Net deferred tax asset |
2. Summary of Significant Acc17
2. Summary of Significant Accounting Policies (Policies) | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Policies | ||
(a) Basis of Presentation and Principles of Consolidation | (a) Basis of Presentation and Principles of Consolidation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("US GAAP") and are expressed in U.S. dollars. The consolidated financial statements are comprised of the records of the Company and its wholly owned subsidiary, Appiphany Technologies Corp., a company incorporated in British Columbia, Canada, until its dissolution on November 18, 2015. All intercompany transactions have been eliminated on consolidation. The Company's fiscal year end is April 30. | a) Basis of Presentation and Principles of Consolidation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("US GAAP") and are expressed in U.S. dollars. The consolidated financial statements are comprised of the records of the Company and its wholly owned subsidiary, Appiphany Technologies Corp., a company incorporated in British Columbia, Canada. All intercompany transactions have been eliminated on consolidation. The Company's fiscal year end is April 30. |
(b) Use of Estimates | (b) Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable, fair value and estimated useful life of long-lived assets, fair value of convertible debentures, derivative liabilities, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. | b) Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the fair value and estimated useful life of long-lived assets, fair value of convertible debentures, derivative liabilities, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
c) Interim Condensed Consolidated Financial Statements | (c) Interim Condensed Consolidated Financial Statements These interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company's financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. | |
(d) Cash and Cash Equivalents | (d) Cash and cash equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As at July 31 and April 30, 2016, the Company had no items representing cash equivalents. | c) Cash and cash equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As at April 30, 2016 and 2015, the Company had no items representing cash equivalents. |
(e) Accounts Receivable | (e) Accounts Receivable The Company recognizes allowances for doubtful accounts to ensure accounts receivable are not overstated due to the inability or unwillingness of its customers to make required payments. The allowance is based on the business environment, historical bad debt expense, the age of receivables, and the specific identification of receivables the Company considers at risk. The Company reviews the adequacy of its allowance for doubtful accounts on a regular basis. | |
(f) Basic and Diluted Net Income (loss) Per Share | (f) Basic and Diluted Net Income (Loss) per Share The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share | d) Basic and Diluted Net Loss per Share The Company computes net loss per share in accordance with ASC 260, Earnings per Share |
(g) Financial Instruments | (g) Financial Instruments Pursuant to ASC 820, Fair Value Measurements and Disclosures Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company's financial instruments consist principally of accounts receivable, accounts payable and accrued liabilities, amounts due to related parties, convertible debentures, and notes payable. Pursuant to ASC 820, the fair value of our cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The fair value of our derivative liability is determined to be a "Level 2" input. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. | e) Financial Instruments Pursuant to ASC 820, Fair Value Measurements and Disclosures Level 1 Level 2 Level 3 The Company's financial instruments consist principally of cash, amounts receivable, accounts payable and accrued liabilities, accrued compensation, and amounts due to related parties. Pursuant to ASC 820, the fair value of our cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The fair value of our derivative liability is determined to be a "Level 2" input. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. |
(h) Comprehensive Loss | (h) Comprehensive Loss ASC 220, Comprehensive Income | f) Comprehensive Loss ASC 220, Comprehensive Income |
(i) Revenue Recognition | (i) Revenue Recognition The Company recognizes revenue from online fraud protection services. Revenue will be recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured. The Company is not exposed to any credit risks as amounts are prepaid prior to performance of services. Commencing May 1, 2016, the Company changed its accounting policy with respect to revenue recognition to record revenue on a gross basis as compared to a net basis as the Company reassessed the application of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers | g) Revenue Recognition The Company recognizes revenue from online fraud protection services. Revenue will be recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured. The Company is not exposed to any credit risks as amounts are prepaid prior to performance of services. Revenue is recorded on an agency basis in accordance with Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. |
(j) Stock-based Compensation | (j) Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation Stock Compensation Equity Based Payments to Non-Employees, ASC 718 requires company to estimate the fair value of share-based awards on the date of grant using an option-pricing model. The Company uses the Black-Scholes option pricing model as its method of determining fair value. This model is affected by the Company's stock price as well as assumptions regarding a number of subjective variables. These subjective variables include, but are not limited to the Company's expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviours. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the statement of operations over the requisite service period. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. | h) Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation Stock Compensation Equity Based Payments to Non-Employees, ASC 718 requires company to estimate the fair value of share-based awards on the date of grant using an option-pricing model. The Company uses the Black-Scholes option pricing model as its method of determining fair value. This model is affected by the Company's stock price as well as assumptions regarding a number of subjective variables. These subjective variables include, but are not limited to the Company's expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviours. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the statement of operations over the requisite service period. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. |
(k) Recent Accounting Pronouncements | (k) Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, "Interest Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs" (ASU 2015-03), which resulted in the reclassification of debt issuance costs from "Other Assets" to inclusion as a reduction of the debt balance. The Company had adopted ASU 2015-03 during the three months ended July 31, 2016, with full retrospective application as required by the guidance. These standards did not have a material impact on the Company's condensed consolidated balance sheets and had no impact on the cash flows provided by or used in operations for any period presented. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. | i) Recent Accounting Pronouncements The Company has limited operations and is considered to be in the development stage. For the year ended April 30, 2016, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to exploration stage. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
7. Derivative Liability_ Schedu
7. Derivative Liability: Schedule of Inputs and Assumptions Used to Value Convertible Debentures (Tables) | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Tables/Schedules | ||
Schedule of Inputs and Assumptions Used to Value Convertible Debentures | The following inputs and assumptions were used to value the convertible debentures outstanding during the periods ended July 31 and April 30, 2016: Expected Volatility Risk-free Interest Rate Expected Dividend Yield Expected Life (in years) December 17, 2013 convertible debenture: As at April 30, 2016 (mark to market) 366% 0.56% 0% 1.00 As at May 17, 2016 (date of exchange) 433% 0.58% 0% 0.84 May 21, 2014 convertible debenture: As at April 30, 2016 (mark to market) 312% 0.56% 0% 0.83 As at June 13, 2016 (date of conversion) 485% 0.40% 0% 0.71 As at July 31, 2016 (mark to market) 468% 0.38% 0% 0.58 May 23, 2014 convertible debenture: As at April 30, 2016 (mark to market) 111% 0.56% 0% 0.06 As at July 31, 2016 (mark to market) 472% 0.50% 0% 0.81 May 17, 2016 convertible debenture for $10,000: As at May 17, 2016 (date note became convertible) 467% 0.58% 0% 1.00 As at June 28, 2016 (date of conversion) 490% 0.35% 0% 0.88 As at July 27, 2016 (date of conversion) 508% 0.40% 0% 0.81 As at July 31, 2016 (mark to market) 513% 0.38% 0% 0.79 May 17, 2016 convertible debenture for $33,000: As at May 17, 2016 (issuance date) 476% 0.58% 0% 1.00 As at July 31, 2016 (mark to market) 458% 0.50% 0% 0.79 July 21, 2016 convertible debenture: As at July 21, 2016 (issuance date) 470% 0.54% 0% 0.75 As at July 31, 2016 (mark to market) 481% 0.50% 0% 0.72 | The following inputs and assumptions were used to value the convertible debentures outstanding during the period ended April 30, 2016 and 2015: Expected Volatility Risk-free Interest Rate Expected Dividend Yield Expected Life (in years) December 17, 2013 convertible debenture: As at June 15, 2014 (date note became convertible) 433% 0.03% 0% 0.26 As at July 31, 2014 (mark to market) 362% 0.01% 0% 0.14 As at September 19, 2014 (date of default penalty) 426% 0.04% 0% 0.50 As at October 30, 2014 (date of conversion) 335% 0.06% 0% 0.39 As at October 31, 2014 (mark to market) 336% 0.05% 0% 0.38 As at November 3, 2014 (date of conversion) 348% 0.07% 0% 0.38 As at November 7, 2014 (date of conversion) 352% 0.05% 0% 0.37 As at November 10, 2014 (date of conversion) 355% 0.02% 0% 0.36 As at November 18, 2014 (date of conversion) 370% 0.02% 0% 0.34 As at January 31, 2015 (mark to market) 528% 0.01% 0% 0.13 As at March 5, 2015 (date of conversion) 693% 0.25% 0% 1.00 As at April 16, 2015 (date of conversion) 736% 0.22% 0% 0.88 As at April 22, 2015 (date of conversion) 742% 0.23% 0% 0.87 As at April 30, 2015 (mark to market) 747% 0.24% 0% 0.85 As at April 30, 2016 (mark to market) 366% 0.56% 0% 1.00 May 21, 2014 convertible debenture: As at November 17, 2014 (date note became convertible) 301% 0.03% 0% 0.27 As at January 9, 2015 (date of conversion) 597% 0.02% 0% 0.12 As at January 15, 2015 (date of conversion) 577% 0.03% 0% 0.11 As at January 21, 2015 (date of conversion) 650% 0.01% 0% 0.09 As at January 22, 2015 (date of conversion) 635% 0.02% 0% 0.09 As at January 30, 2015 (date of conversion) 496% 0.01% 0% 0.07 As at January 31, 2015 (mark to market) 528% 0.01% 0% 0.06 As at April 16, 2015 (date of conversion) 512% 0.22% 0% 0.86 As at April 30, 2015 (mark to market) 520% 0.24% 0% 0.82 As at December 7, 2015 (date of conversion) 251% 0.29% 0% 0.21 As at April 5, 2016 (date of conversion) 371% 0.56% 0% 0.90 As at April 30, 2016 (mark to market) 312% 0.56% 0% 0.83 May 23, 2014 convertible debenture: As at November 19, 2014 (date note became convertible) 444% 0.07% 0% 0.51 As at January 14, 2015 (mark to market) 462% 0.04% 0% 0.35 As at January 26, 2015 (mark to market) 494% 0.03% 0% 0.32 As at January 31, 2015 (mark to market) 505% 0.02% 0% 0.31 As at April 30, 2015 (mark to market) 576% 0.00% 0% 0.06 As at April 30, 2016 (mark to market) 111% 0.56% 0% 0.06 |
7. Derivative Liability_ Sche19
7. Derivative Liability: Schedule of Derivative Liabilities at Fair Value (Tables) | 3 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Apr. 30, 2016 | |
Tables/Schedules | ||
Schedule of Derivative Liabilities at Fair Value | A summary of the activity of the derivative liability is shown below: Balance, April 30, 2016 140,196 New issuances 925,403 Debt discounts 78,500 Adjustment for conversion (111,468 Mark to market adjustment at July 31, 2016 (671,885 Balance, July 31, 2016 360,746 | A summary of the activity of the derivative liability is shown below: Balance, April 30, 2014 47,706 Derivative loss due to new issuances 38,016 Debt discount 95,215 Adjustment for conversion (216,139) Mark to market adjustment at April 30, 2015 393,187 Balance, April 30, 2015 357,985 Adjustment for conversion (127,465) Mark to market adjustment at April 30, 2016 (90,324) Balance, April 30, 2016 140,196 |
Note 9. Income Taxes_ Schedule
Note 9. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Apr. 30, 2016 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | The income tax benefit differs from the amount computed by applying the US federal income tax rate of 34% and the Canada federal and provincial tax rate of 26% to net loss before income taxes for the year ended April 30, 2016 and 2015 as a result of the following: 2016 $ 2015 $ Net loss before taxes (125,638) (797,865) Statutory rate 34% 34% Computed expected tax recovery (42,717) (271,274) Permanent differences and other 2,343 178,159 Change in valuation allowance 40,374 93,115 Income tax provision |
Note 9. Income Taxes_ Schedul21
Note 9. Income Taxes: Schedule of Deferred Income Tax Assets and Liabilities (Tables) | 12 Months Ended |
Apr. 30, 2016 | |
Tables/Schedules | |
Schedule of Deferred Income Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities as at April 30, 2016 and 2015 after applying enacted corporate income tax rates are as follows: 2016 $ 2015 $ Net operating losses carried forward 353,332 312,958 Total gross deferred income tax assets 353,332 312,958 Valuation allowance (353,332) (312,958) Net deferred tax asset |
1. Nature of Operations and C22
1. Nature of Operations and Continuance of Business (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
May 31, 2010 | Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 | |
Details | ||||
Entity Incorporation, Date of Incorporation | Feb. 24, 2010 | Feb. 24, 2010 | ||
Shares issued in exchange for outstanding common shares of ATC | 1,500,000 | |||
Working Capital (Deficit) | $ (676,211) | $ (475,875) | ||
Accumulated deficit | $ (2,118,692) | $ (1,791,491) | $ (1,665,853) |
2. Summary of Significant Acc23
2. Summary of Significant Accounting Policies: (f) Basic and Diluted Net Income (loss) Per Share (Details) - shares | 3 Months Ended | 12 Months Ended | |
Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 | |
Details | |||
Potentially dilutive shares outstanding | 19,812,270 | 20,292,620 | 8,713,784 |
2. Summary of Significant Acc24
2. Summary of Significant Accounting Policies: (i) Revenue Recognition (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 | |
Cost of goods sold | $ 5,667 | ||
Gross profit | 5,900 | ||
Online Fraud Protection Services | |||
Sales Revenue, Services, Net | 2,725 | ||
Cost of goods sold | 1,821 | ||
Gross profit | $ 904 |
3. Acquisition of License Agr25
3. Acquisition of License Agreements (Details) - shares | 3 Months Ended | 12 Months Ended | |
Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 | |
License Agreement and Commitment, Description | the Company agreed to pay a monthly base fee of up to £4,750, depending on the service provided, and 15% commission fee for all revenues including a minimum revenue base of £140,000 in the first year and £100,000 in subsequent years | the Company agreed to pay a monthly base fee of up to £4,750, depending on the service provided, and 15% commission fee for all revenues including a minimum revenue base of £140,000 in the first year and £100,000 in subsequent years. | |
Common Stock | |||
Stock issued for consulting services | 10,000,000 | 375,000 | |
Shares issued for acquisition of licenses, Shares | 20,000,000 | ||
Common Stock | President | |||
Stock issued for consulting services | 20,000,000 | 375,000 | |
Shares issued for acquisition of licenses, Shares | 20,000,000 |
4. Related Party Transactions (
4. Related Party Transactions (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 | |
Due to related parties | $ 34,528 | $ 62,486 | $ 28,284 |
Shares issued for management fees, Value | 100,000 | 97,500 | |
Accounts payable and accrued liabilities | 210,298 | $ 195,999 | $ 124,655 |
Common Stock | |||
Shares issued for management fees, Shares | 10,000,000 | 375,000 | |
Shares issued for management fees, Value | $ 10,000 | $ 375 | |
President | |||
Due to related parties | $ 34,528 | 62,486 | 19,155 |
Management Fee Expense | 0 | $ 27,065 | |
Employee-related Liabilities, Current | 78,835 | ||
President | Common Stock | |||
Shares issued for management fees, Shares | 20,000,000 | 375,000 | |
Shares issued for management fees, Value | $ 97,500 | ||
Prsident And Director | |||
Due to related parties | $ 41,197 | ||
Prsident And Director | Common Stock | |||
Shares issued for management fees, Shares | 10,000,000 | 375,000 | |
Shares issued for management fees, Value | $ 100,000 | $ 97,500 | |
Former Secretary And Treasurer | |||
Due to related parties | 499 | ||
Accounts payable and accrued liabilities | 0 | 9,000 | |
Director1 | |||
Due to related parties | $ 21,289 | $ 8,769 |
5. Notes Payable (Details)
5. Notes Payable (Details) - USD ($) | 12 Months Ended | ||
Apr. 30, 2016 | Jul. 31, 2016 | Apr. 30, 2015 | |
Notes payable | $ 4,616 | $ 14,616 | $ 0 |
Note Payable One | |||
Notes payable | $ 10,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||
Note Payable | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 5.00% | |
Debt Instrument, Maturity Date | Jul. 31, 2016 |
6. Convertible Debentures (Deta
6. Convertible Debentures (Details) - USD ($) | Apr. 07, 2016 | Dec. 08, 2015 | Sep. 08, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | May 23, 2014 | May 21, 2014 | Dec. 17, 2013 |
Proceeds from convertible debenture | $ 145,000 | $ 77,500 | ||||||||
Interest expense | 4,385 | $ 10,339 | $ 19,655 | 133,146 | ||||||
Convertible Debenture, Unamortized Discount | 91,573 | 6,982 | ||||||||
Debt Conversion, Original Debt, Amount | 28,500 | |||||||||
Loss on extinguishment of debt | (4,505) | (126) | ||||||||
Gain (Loss) on change in fair value of derivative liability | $ (237,379) | 199,600 | $ 90,324 | (431,203) | ||||||
Accrued Interest | ||||||||||
Debt Conversion, Original Debt, Amount | $ 760 | |||||||||
Common Stock | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 214,035 | |||||||||
Convertible Debenture One | ||||||||||
Proceeds from convertible debenture | $ 32,500 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||
Interest on Overdue Principal After Default | 22.00% | |||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | After 180 days or June 15, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. | After 180 days or June 15, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. | ||||||||
Interest expense | $ 16,250 | $ 16,250 | ||||||||
Convertible Debenture, Unamortized Discount | $ 32,500 | |||||||||
Debt Instrument, Face Amount | $ 32,500 | |||||||||
Debt Conversion, Original Debt, Amount | $ 39,130 | |||||||||
Long-term Debt, Gross | $ 0 | 9,620 | ||||||||
Convertible Debenture One | Accrued Interest | ||||||||||
Long-term Debt, Gross | 6,270 | |||||||||
Convertible Debenture One | Common Stock | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 595,667 | |||||||||
Convertible Debenture Two | ||||||||||
Proceeds from convertible debenture | $ 37,500 | $ 37,500 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | . After 180 days or November 17, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. | After 180 days or November 17, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. | ||||||||
Convertible Debenture, Unamortized Discount | $ 37,500 | |||||||||
Debt Instrument, Face Amount | $ 37,500 | |||||||||
Debt Conversion, Original Debt, Amount | $ 5,967 | $ 2,805 | $ 8,368 | $ 8,772 | 2,920 | |||||
Long-term Debt, Gross | $ 17,440 | $ 25,808 | $ 34,580 | |||||||
Debt Instrument, Maturity Date | Feb. 23, 2015 | |||||||||
Convertible Debenture Two | Common Stock | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,300,000 | 550,000 | 3,217,352 | 1,850,000 | 360,000 | |||||
Convertible Debenture Three | ||||||||||
Proceeds from convertible debenture | $ 40,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | After 180 days or November 19, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 55% of the lowest trading price of the Company's common shares for the past 15 trading days prior to notice of conversion. | After 180 days or November 19, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 55% of the lowest trading price of the Company's common shares for the past 15 trading days prior to notice of conversion. | ||||||||
Convertible Debenture, Unamortized Discount | $ 25,215 | |||||||||
Debt Instrument, Face Amount | $ 40,000 | |||||||||
Debt Conversion, Original Debt, Amount | $ 188 | $ 188 | 1,335 | |||||||
Long-term Debt, Gross | $ 38,477 | $ 38,477 | 31,683 | |||||||
Extinguishment of Debt, Amount | 31,000 | |||||||||
Loss on extinguishment of debt | 5,744 | $ 0 | ||||||||
Debt Instrument, Maturity Date | May 23, 2015 | |||||||||
Convertible Debenture Three | Accrued Interest | ||||||||||
Debt Conversion, Original Debt, Amount | $ 19 | $ 19 | $ 69 | |||||||
Convertible Debenture Three | Common Stock | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 91,831 | 91,831 | 127,655 | |||||||
Convertible Debenture Four | ||||||||||
Proceeds from convertible debenture | $ 10,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | convertible into common shares of the Company at a conversion price equal to 50% of the lowest trading prices of the Company's common shares (i) on May 12, 2016; or (ii) for the past 25 trading days prior to notice of conversion. | |||||||||
Debt Conversion, Original Debt, Amount | $ 7,000 | $ 39,130 | ||||||||
Long-term Debt, Gross | 3,000 | $ 9,620 | $ 9,620 | |||||||
Gain (Loss) on change in fair value of derivative liability | $ (10,249) | |||||||||
Debt Instrument, Maturity Date | May 17, 2017 | |||||||||
Convertible Debenture Four | Before Terms Change | ||||||||||
Derivative Liability, Fair Value, Gross Liability | $ 249,702 | |||||||||
Convertible Debenture Four | After Terms Change | ||||||||||
Derivative Liability, Fair Value, Gross Liability | $ 265,841 | |||||||||
Convertible Debenture Four | Default Interest Rate | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 24.00% | |||||||||
Convertible Debenture Four | Accrued Interest | ||||||||||
Debt Conversion, Original Debt, Amount | $ 29 | |||||||||
Convertible Debenture Four | Common Stock | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 2,756,270 | 595,667 | ||||||||
Convertible Debenture Five | ||||||||||
Proceeds from convertible debenture | $ 30,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | convertible into common shares of the Company at a conversion price equal to 50% of the lowest trading price of the Company's common stock of either (i) the twenty-five prior trading days immediately preceding the issuance of the note or (ii) the twenty-five prior trading days including the day upon which a notice of conversion is received by the Company. | |||||||||
Convertible Debenture, Unamortized Discount | $ 33,000 | |||||||||
Debt Instrument, Face Amount | 33,000 | |||||||||
Long-term Debt, Gross | $ 7 | 0 | ||||||||
Debt Instrument, Maturity Date | May 17, 2017 | |||||||||
Original Issue Discount Rate | 10.00% | |||||||||
Debt Issuance Costs, Net | $ 5,000 | |||||||||
Debt Instrument, Unamortized Discount (Premium), Net | $ 32,993 | 0 | ||||||||
Convertible Debenture Five | Default Interest Rate | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 24.00% | |||||||||
Convertible Debenture Six | ||||||||||
Long-term Debt, Gross | $ 67,156 | 0 | ||||||||
Debt Issuance Costs, Net | 2,500 | |||||||||
Convertible Debenture Seven | ||||||||||
Proceeds from convertible debenture | $ 56,750 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | convertible into common shares of the Company at a conversion price equal to 50% of the lowest trading price of the Company's common stock of either (i) the twenty-five prior trading days immediately preceding the issuance of the note or (ii) the twenty-five prior trading days including the day upon which a notice of conversion is received by the Company. | |||||||||
Convertible Debenture, Unamortized Discount | $ 56,750 | |||||||||
Debt Instrument, Face Amount | 56,750 | |||||||||
Long-term Debt, Gross | $ 14 | 0 | ||||||||
Debt Instrument, Maturity Date | Apr. 21, 2017 | |||||||||
Debt Issuance Costs, Net | $ 6,250 | |||||||||
Debt Instrument, Unamortized Discount (Premium), Net | $ 56,736 | $ 0 | ||||||||
Convertible Debenture Seven | Default Interest Rate | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 24.00% |
7. Derivative Liability (Detail
7. Derivative Liability (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Jul. 31, 2016 | Jul. 31, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2014 | |
Details | |||||
Gain (Loss) on change in fair value of derivative liability | $ (237,379) | $ 199,600 | $ 90,324 | $ (431,203) | |
Derivative liability | $ 360,746 | $ 140,196 | $ 357,985 | $ 47,706 |
7. Derivative Liability_ Sche30
7. Derivative Liability: Schedule of Inputs and Assumptions Used to Value Convertible Debentures (Details) | Jul. 31, 2016 | Jul. 28, 2016 | Jul. 27, 2016 | Jul. 21, 2016 | Jun. 13, 2016 | May 17, 2016 | Apr. 30, 2016 | Apr. 05, 2016 | Dec. 07, 2015 | Nov. 17, 2015 | Apr. 30, 2015 | Apr. 22, 2015 | Apr. 16, 2015 | Mar. 05, 2015 | Jan. 31, 2015 | Jan. 30, 2015 | Jan. 26, 2015 | Jan. 22, 2015 | Jan. 21, 2015 | Jan. 15, 2015 | Jan. 14, 2015 | Jan. 09, 2015 | Nov. 18, 2014 | Nov. 10, 2014 | Nov. 07, 2014 | Nov. 03, 2014 | Oct. 31, 2014 | Oct. 30, 2014 | Sep. 19, 2014 | Jul. 31, 2014 | Jun. 15, 2014 | Apr. 30, 2016 |
Expected Volatility | 444.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.07% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 6 months 4 days | |||||||||||||||||||||||||||||||
Convertible Debenture One | ||||||||||||||||||||||||||||||||
Expected Volatility | 366.00% | 747.00% | 742.00% | 736.00% | 693.00% | 528.00% | 370.00% | 355.00% | 352.00% | 348.00% | 336.00% | 335.00% | 426.00% | 362.00% | 433.00% | |||||||||||||||||
Risk-Free Interest Rate | 0.56% | 0.24% | 0.23% | 0.22% | 0.25% | 0.01% | 0.02% | 0.02% | 0.05% | 0.07% | 0.05% | 0.06% | 0.04% | 0.01% | 0.03% | |||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |||||||||||||||||
Expected Life (in years) | 1 year | 10 months 6 days | 10 months 13 days | 10 months 17 days | 1 year | 1 month 17 days | 4 months 2 days | 4 months 10 days | 4 months 13 days | 4 months 17 days | 4 months 17 days | 4 months 20 days | 6 months | 1 month 20 days | 3 months 4 days | |||||||||||||||||
Convertible Debenture One | Mark To Market One | ||||||||||||||||||||||||||||||||
Expected Volatility | 366.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.56% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 1 year | |||||||||||||||||||||||||||||||
Convertible Debenture One | Date Of Conversion One | ||||||||||||||||||||||||||||||||
Expected Volatility | 433.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.58% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 10 months 2 days | |||||||||||||||||||||||||||||||
Convertible Debenture Two | ||||||||||||||||||||||||||||||||
Expected Volatility | 312.00% | 371.00% | 251.00% | 301.00% | 520.00% | 512.00% | 528.00% | 496.00% | 635.00% | 650.00% | 577.00% | 597.00% | ||||||||||||||||||||
Risk-Free Interest Rate | 0.56% | 0.56% | 0.29% | 0.03% | 0.24% | 0.22% | 0.01% | 0.01% | 0.02% | 0.01% | 0.03% | 0.02% | ||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||||||||||||||||
Expected Life (in years) | 9 months 29 days | 10 months 24 days | 2 months 16 days | 3 months 7 days | 9 months 25 days | 10 months 10 days | 22 days | 25 days | 1 month 2 days | 1 month 2 days | 1 month 10 days | 1 month 13 days | ||||||||||||||||||||
Convertible Debenture Two | Mark To Market One | ||||||||||||||||||||||||||||||||
Expected Volatility | 312.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.56% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 9 months 29 days | |||||||||||||||||||||||||||||||
Convertible Debenture Two | Date Of Conversion One | ||||||||||||||||||||||||||||||||
Expected Volatility | 485.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.40% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 8 months 16 days | |||||||||||||||||||||||||||||||
Convertible Debenture Two | Mark To Market Two | ||||||||||||||||||||||||||||||||
Expected Volatility | 468.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.38% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 6 months 29 days | |||||||||||||||||||||||||||||||
Convertible Debenture Three | ||||||||||||||||||||||||||||||||
Expected Volatility | 111.00% | 576.00% | 505.00% | 494.00% | 462.00% | |||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.56% | 0.00% | 0.02% | 0.03% | 0.04% | |||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |||||||||||||||||||||||||||
Expected Life (in years) | 22 days | 22 days | 3 months 22 days | 3 months 25 days | 4 months 6 days | |||||||||||||||||||||||||||
Convertible Debenture Three | Mark To Market One | ||||||||||||||||||||||||||||||||
Expected Volatility | 111.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.56% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 22 days | |||||||||||||||||||||||||||||||
Convertible Debenture Three | Mark To Market Two | ||||||||||||||||||||||||||||||||
Expected Volatility | 472.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.50% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 9 months 22 days | |||||||||||||||||||||||||||||||
Convertible Debenture Four | Date Of Conversion One | ||||||||||||||||||||||||||||||||
Expected Volatility | 490.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.35% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 10 months 17 days | |||||||||||||||||||||||||||||||
Convertible Debenture Four | Mark To Market Two | ||||||||||||||||||||||||||||||||
Expected Volatility | 513.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.38% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 9 months 14 days | |||||||||||||||||||||||||||||||
Convertible Debenture Four | Date Note Became Convertible | ||||||||||||||||||||||||||||||||
Expected Volatility | 467.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.58% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 1 year | |||||||||||||||||||||||||||||||
Convertible Debenture Four | Date Of Conversion Two | ||||||||||||||||||||||||||||||||
Expected Volatility | 508.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.40% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 9 months 22 days | |||||||||||||||||||||||||||||||
Convertible Debenture Five | Mark To Market One | ||||||||||||||||||||||||||||||||
Expected Volatility | 458.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.50% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 9 months 14 days | |||||||||||||||||||||||||||||||
Convertible Debenture Five | Issuance Date One | ||||||||||||||||||||||||||||||||
Expected Volatility | 476.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.58% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 1 year | |||||||||||||||||||||||||||||||
Convertible Debenture Six | Mark To Market One | ||||||||||||||||||||||||||||||||
Expected Volatility | 481.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.50% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 8 months 19 days | |||||||||||||||||||||||||||||||
Convertible Debenture Six | Issuance Date One | ||||||||||||||||||||||||||||||||
Expected Volatility | 470.00% | |||||||||||||||||||||||||||||||
Risk-Free Interest Rate | 0.54% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||||||||||||||||||||
Expected Life (in years) | 9 months |
7. Derivative Liability_ Sche31
7. Derivative Liability: Schedule of Derivative Liabilities at Fair Value (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2014 | |
Derivative liability | $ 360,746 | $ 140,196 | $ 357,985 | $ 47,706 |
New Issuance | ||||
Increase (Decrease) in Derivative Liabilities | 925,403 | |||
Debt Discount | ||||
Increase (Decrease) in Derivative Liabilities | 78,500 | 95,215 | ||
Adjustment for Conversion | ||||
Increase (Decrease) in Derivative Liabilities | (111,468) | $ (127,465) | (216,139) | |
Mark To Market Adjustment | ||||
Increase (Decrease) in Derivative Liabilities | $ (671,885) | 393,187 | ||
Derivative Loss | ||||
Increase (Decrease) in Derivative Liabilities | $ 38,016 |
8. Common Shares (Details)
8. Common Shares (Details) - USD ($) | Apr. 07, 2016 | Dec. 08, 2015 | Nov. 17, 2015 | Sep. 08, 2015 | Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2014 |
Debt Conversion, Original Debt, Amount | $ 28,500 | |||||||
Derivative liability | $ 360,746 | $ 140,196 | 357,985 | $ 47,706 | ||||
Shares issued for management fees, Value | 100,000 | 97,500 | ||||||
Accrued Interest | ||||||||
Debt Conversion, Original Debt, Amount | 760 | |||||||
Convertible Debenture Two | ||||||||
Debt Conversion, Original Debt, Amount | $ 5,967 | $ 2,805 | 8,368 | 8,772 | 2,920 | |||
Derivative liability | $ 111,034 | $ 16,083 | ||||||
Convertible Debenture Eight | ||||||||
Debt Conversion, Original Debt, Amount | 3,000 | |||||||
Convertible Debenture Nine | ||||||||
Debt Conversion, Original Debt, Amount | 4,000 | |||||||
Convertible Debenture Nine | Accrued Interest | ||||||||
Debt Conversion, Original Debt, Amount | $ 28 | |||||||
Convertible Debenture Three | ||||||||
Debt Conversion, Original Debt, Amount | $ 188 | 188 | 1,335 | |||||
Convertible Debenture Three | Accrued Interest | ||||||||
Debt Conversion, Original Debt, Amount | 19 | $ 19 | 69 | |||||
Derivative liability | $ 348 | |||||||
Covertible Debenture Five | ||||||||
Debt Conversion, Original Debt, Amount | 11,900 | |||||||
Covertible Debenture Five | Accrued Interest | ||||||||
Debt Conversion, Original Debt, Amount | 2,185 | |||||||
Convertible Debenture One | ||||||||
Debt Conversion, Original Debt, Amount | $ 39,130 | |||||||
Common Stock | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 214,035 | |||||||
Shares issued for acquisition of licenses, Shares | 20,000,000 | |||||||
Shares issued for management fees, Shares | 10,000,000 | 375,000 | ||||||
Shares issued for management fees, Value | $ 10,000 | $ 375 | ||||||
Stockholders' Equity, Reverse Stock Split | the Company effected a 1-for-200 reverse split of its issued and outstanding common shares, which has been applied on a retroactive basis. | |||||||
Common Stock | President | ||||||||
Deferred Compensation Arrangement with Individual, Shares Issued | 10,000,000 | |||||||
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued | $ 100,000 | |||||||
Shares issued for acquisition of licenses, Shares | 20,000,000 | |||||||
Shares issued for management fees, Shares | 20,000,000 | 375,000 | ||||||
Shares issued for management fees, Value | $ 97,500 | |||||||
Common Stock | Convertible Debenture Two | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,300,000 | 550,000 | 3,217,352 | 1,850,000 | 360,000 | |||
Common Stock | Convertible Debenture Eight | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,176,470 | |||||||
Common Stock | Convertible Debenture Nine | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,579,800 | |||||||
Common Stock | Convertible Debenture Three | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 91,831 | 91,831 | 127,655 | |||||
Common Stock | Covertible Debenture Five | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 73,169 | |||||||
Common Stock | Convertible Debenture One | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 595,667 |
9. Subsequent Events (Details)
9. Subsequent Events (Details) - USD ($) | Sep. 06, 2016 | Aug. 18, 2016 | Jul. 27, 2016 | Jun. 28, 2016 | Jun. 13, 2016 | May 17, 2016 | Apr. 07, 2016 | Dec. 08, 2015 | Jul. 31, 2016 | Apr. 30, 2016 | Apr. 30, 2015 | May 21, 2014 | Dec. 17, 2013 |
Debt Conversion, Original Debt, Amount | $ 28,500 | ||||||||||||
Accrued Interest | |||||||||||||
Debt Conversion, Original Debt, Amount | 760 | ||||||||||||
Convertible Debenture Two | |||||||||||||
Long-term Debt, Gross | $ 17,440 | $ 25,808 | 34,580 | ||||||||||
Debt Instrument, Face Amount | $ 37,500 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||
Debt Instrument, Maturity Date | Feb. 23, 2015 | ||||||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | . After 180 days or November 17, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. | After 180 days or November 17, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. | |||||||||||
Debt Conversion, Original Debt, Amount | $ 5,967 | $ 2,805 | $ 8,368 | $ 8,772 | 2,920 | ||||||||
Convertible Debenture One | |||||||||||||
Long-term Debt, Gross | $ 0 | $ 9,620 | |||||||||||
Debt Instrument, Face Amount | $ 32,500 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | After 180 days or June 15, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. | After 180 days or June 15, 2014, the debenture is convertible into common shares of the Company at a conversion price equal to 51% of the lowest two trading prices of the Company's common shares for the past 30 trading days prior to notice of conversion. | |||||||||||
Debt Conversion, Original Debt, Amount | $ 39,130 | ||||||||||||
Convertible Debenture One | Accrued Interest | |||||||||||||
Long-term Debt, Gross | $ 6,270 | ||||||||||||
Common Stock | |||||||||||||
Stock issued for consulting services | 10,000,000 | 375,000 | |||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 214,035 | ||||||||||||
Common Stock | Convertible Debenture Two | |||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,300,000 | 550,000 | 3,217,352 | 1,850,000 | 360,000 | ||||||||
Common Stock | Convertible Debenture One | |||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 595,667 | ||||||||||||
Subsequent Event | Convertible Debenture Two | |||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 3,217,352 | ||||||||||||
Debt Conversion, Original Debt, Amount | $ 8,368 | ||||||||||||
Subsequent Event | Convertible Debenture One | |||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,579,800 | 1,176,470 | |||||||||||
Debt Conversion, Original Debt, Amount | $ 4,000 | $ 3,000 | |||||||||||
Subsequent Event | Convertible Debenture One | Accrued Interest | |||||||||||||
Debt Conversion, Original Debt, Amount | $ 28 | ||||||||||||
Subsequent Event | Common Stock | Consultant | |||||||||||||
Stock issued for consulting services | 500,000 | ||||||||||||
Subsequent Event | Convertible Promissory Note | |||||||||||||
Long-term Debt, Gross | $ 27,000 | $ 30,000 | |||||||||||
Original Issue Discount Rate | 10.00% | ||||||||||||
Debt Instrument, Face Amount | $ 30,000 | $ 33,000 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 10.00% | |||||||||||
Debt Instrument, Maturity Date | Aug. 18, 2017 | May 17, 2017 | |||||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | convertible into common shares of the Company at a conversion price equal to 55% of the lowest trading price of the Company's common shares for the past 15 trading days prior to notice of conversion. | convertible into common stock of the Company at a price equal to 50% of the lowest trading price of the Company's common stock of either (i) the twenty-five prior trading days immediately preceding the issuance of the note or (ii) the twenty-five prior trading days including the day upon which a notice of conversion is received by the Company. | |||||||||||
Debt Issuance Costs, Net | $ 7,000 | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 10.00% |
Note 9. Income Taxes (Details)
Note 9. Income Taxes (Details) | Apr. 30, 2016USD ($) |
Details | |
Operating Loss Carryforwards | $ 1,039,212 |
Note 9. Income Taxes_ Schedul35
Note 9. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2016 | Apr. 30, 2015 | |
Net loss before taxes | $ (125,638) | $ (797,865) |
Computed expected tax recovery | (42,717) | (271,274) |
Permanent differences and other | 2,343 | 178,159 |
Change in valuation allowance | 40,374 | 93,115 |
Income tax provision | $ 0 | $ 0 |
UNITED STATES | ||
Statutory rate | 34.00% | 34.00% |
CANADA | ||
Statutory rate | 26.00% |
Note 9. Income Taxes_ Schedul36
Note 9. Income Taxes: Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($) | Apr. 30, 2016 | Apr. 30, 2015 |
Details | ||
Net operating losses carried forward | $ 353,332 | $ 312,958 |
Total gross deferred income tax assets | 353,332 | 312,958 |
Valuation allowance | (353,332) | (312,958) |
Net deferred tax asset | $ 0 | $ 0 |