Annual report pursuant to Section 13 and 15(d)

Convertible Notes and Convertible Notes - Related Party (Tables)

v3.10.0.1
Convertible Notes and Convertible Notes - Related Party (Tables)
12 Months Ended
Apr. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Convertible Notes Payable

Convertible notes payable consisted of the following at April 30, 2018 and 2017:


 

 

April 30,

 

 

 

2018

 

 

2017

 

Convertible note payable - originating December 1, 2017; no monthly payments required; bearing an annual rate of interest at 8%; $1,000,000 maturing on December 1, 2018 and $1,000,000 maturing on December 1, 2019

 

$

2,000,000

 

 

$

 

 

 

 

 

 

 

 

 

 

Convertible note payable - originating February 29, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 29, 2014

 

 

50,000

 

 

 

50,000

 

 

 

 

 

 

 

 

 

 

 

 

 

2,050,000

 

 

 

50,000

 

Less: Current maturities

 

 

(1,050,000

)

 

 

(50,000

)

Total

 

$

1,000,000

 

 

$

 

Schedule of Future Maturities of Notes Payable

Future maturities of convertible notes payable as of April 30, 2018 are as follows:


Year ending April 30,

 

 

 

2019

 

$

1,050,000

 

2020

 

 

1,000,000

 

 

 

$

2,050,000