Equity Exchange Transactions (Details Narrative) - USD ($) |
12 Months Ended | |||
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Apr. 30, 2016 |
Apr. 30, 2015 |
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Common stock, issued shares | 1,648,287 | 925,337 | ||
Common stock, outstanding shares | 1,648,287 | 925,337 | ||
Equity Exchange Transactions | Warrant | ||||
Adjustment in additional paid in capital | [1] | $ 806,860 | ||
Series A Preferred Warrants, number of warrants exchanged for Series B Preferred Stock | 1,616,500 | |||
Bridge Note Holders of Warrants, number of warrants exchanged for Series B Preferred Stock | 255,000 | |||
Investor held Warrants, number of warrants exchanged for Series B Preferred Stock | 87,967 | |||
Equity Exchange Transactions | Series B Preferred Shares | ||||
Securities exchanged for newly designated Series B Convertible Preferred Stock | 335,684 | |||
Series B Preferred Stock, issued as a result of exchange of Series A Preferred Stock | 214,465 | |||
Adjustment in additional paid in capital | $ 1,572,000 | |||
Series B Preferred Stock, issued as a result of exchange of Series A Preferred Warrants | 40,413 | |||
Series B Preferred Stock, issued as a result of exchange of warrants held by Bridge Note holders | 19,125 | |||
Series B Preferred Stock, issued as a result of exchange of warrants held by investors | 6,598 | |||
Exchange Agreement, description | As contemplated by the Exchange Agreements and as approved by the Companys Board of Directors on January 21, 2016, the Company filed with the Secretary of State of the State of Nevada, a Certificate of Designation of Preferences, Rights and Limitations of 0% Series B Convertible Preferred Stock (the Series B Certificate of Designations). Pursuant to the Series B Certificate of Designations, the Company designated 400,000 shares of its blank check preferred stock as Series B Preferred Stock. Each share of Series B Preferred Stock has a stated value of $12.20 per share. In the event of a liquidation, dissolution or winding up of the Company, each share of Series B Preferred Stock will be entitled to a per share preferential payment equal to the par value. All shares of capital stock of the Company will be junior in rank to Series B Preferred Stock with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding-up of the Company. The Holders will be entitled to receive dividends if and when declared by the Companys Board of Directors. In addition, the Series B Preferred Stock shall participate on an as converted basis, with all dividends declared on the common stock. | |||
Preferred stock, outstanding shares | 331,559 | |||
Number of Series B Preferred Stock convertible into an aggregate shares of Common Stock | 2,210,390 | |||
Equity Exchange Transactions | Series A Preferred Shares | ||||
Outstanding Series A Preferred Stock, number of shares exchanged for Series B Preferred Stock | 523,300 | |||
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