Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements - Warrant Derivative liability (Tables)

v3.19.2
Fair Value Measurements - Warrant Derivative liability (Tables)
12 Months Ended
Apr. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of Liabilities Measured at Fair Value

Assets and liabilities measured at fair value on a recurring and non-recurring basis consisted of the following at April 30, 2018 which related to 62,500 warrants which contained price protection:


 

 

Carrying

 

 

 

 

 

 

 

 

 

 

 

 

Value at

 

 

 

 

 

 

 

 

 

 

 

 

April 30,

 

 

Fair value Measurements at April 30, 2018

 

 

 

2018

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrant derivative liability

 

$

52,500

 

 

$

—

 

 

$

—

 

 

$

52,500

Summary of Activity of Level 3 Liabilities

The following is a summary of activity of Level 3 liabilities for the years ended April 30, 2018


Balance April 30, 2017

 

$

52,500

 

Gain on extinguishment of warrant liability

 

 

(52,500

)

Balance April 30, 2018

 

$

—