Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Apr. 30, 2018
Apr. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (13,658,495) $ (4,148,461)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 1,317,664 912,500
Amortization of prepaid stock based expenses 287,350
Deferred income taxes (438,145)
Impairment expense 6,094,760
Gain on sale of business (94,485)
Gain on extinguishment of liabilities (248,684)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (400,495) (170,834)
Reclamation bond deposit and other assets (38,962) (41,301)
Accounts payable 222,101 84,808
Accounts payable - related parties (40,035)
Accrued liabilities (29,002)
NET CASH USED IN OPERATING ACTIVITIES (6,986,393) (3,403,323)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net proceeds received from sale of business 326,404
Investment in note receivable (250,000)
Acquisition of mineral rights (20,479) (288,917)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 305,925 (538,917)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of note payable - related party (285,000)
Repayments to related party for advances (123,624)
Issuance of preferred stock, net of issuance cost 10,865,826
Issuance of preferred stock and warrants, net of issuance cost 4,916,120
Issuance of common stock 2,590,004
NET CASH PROVIDED BY FINANCING ACTIVITIES 7,506,124 10,457,202
NET INCREASE IN CASH 825,656 6,514,962
CASH - beginning of year 6,820,623 305,661
CASH - end of year 7,646,279 6,820,623
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 116 4,242
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of common stock for the acquisition of mineral rights 35,850 555,000
Grant of stock options for the acquisition of mineral rights 184,968
Issuance of common stock for future services 12,500
Conversion of preferred stock into common stock 48
Issuance of common stock for accrued services 137,500
Issuance of common stock for prepaid services 280,825
Issuance of stock options for prepaid services 168,641
Beneficial conversion feature - discount series E preferred stock $ 1,576,602