Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.6.0.2
Subsequent Events
9 Months Ended
Jan. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events

Note 9: Subsequent events

 

On February 1, 2017 the Company granted 32,000 shares of restricted common stock to the directors of the Company. The Company will record approximately $47,000 of stock based compensation related to these grants.

 

On February 1, 2017 the Company declared a Preferred Series D dividend of approximately 3,699 Preferred Series D shares. Each share of Series D Preferred Stock converts into 100 shares of common stock, subject to adjustment for dividends and stock splits.

 

Between February 1, 2017 and the filing of this report, the holders of Series D Preferred Stock converted 7,397 Series D Preferred shares into 739,706 shares of common stock. There are no shares of Series D Preferred Stock outstanding as of February 21, 2017.