Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.8.0.1
Subsequent Events
9 Months Ended
Jan. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

NOTE 9 — SUBSEQUENT EVENTS

 

From February 1, 2018 through the date of this filing, the Company issued 730,000 shares of the Company’s common stock in exchange for the conversion of 730 shares of the Company’s Series E Preferred Stock.

 

On February 8, 2018, the Company issued 4,902 shares of the Company’s common stock to the Chief Geologist for services rendered to the Company for January 2018 pursuant to his employment agreement (see Note 8). The Company valued these common shares at the fair value of $12,500 or $2.55 per common share based on the quoted trading prices on the date of grants and reduced accrued salaries by $12,500.

 

On February 21, 2018, the Company issued 12,000 shares of the Company’s common stock as compensation to a director of the Company for his past appointment to the Board of Directors.

 

On February 28, 2018, the Company issued 237,860 shares of the Company’s common stock in exchange for the conversion of 2,379 shares of the Company’s Series C Preferred Stock.

 

On March 5, 2018, the Company issued 6,906 shares of the Company’s common stock to the Chief Geologist for services rendered to the Company for February 2018 pursuant to his employment agreement (see Note 8). The Company valued these common shares at the fair value of $12,500 or $1.81 per common share based on the quoted trading prices on the date of grants and reduced accrued salaries by $12,500.

 

On March 5, 2018, the Company issued 150,000 shares of the Company’s common stock to a consultant pursuant to a consulting agreement related to business advisory services. The term of the consulting agreement is 12 months.