2100
14488
5858
16689
6041
37820
37820
54509
43861
145805
109499
47808
209265
199748
1193302
876465
1193302
876465
110
110
2125
2087
1079131
952475
-2220159
-1787276
-1138793
-832604
54509
43861
0.0001
20000000
1100000
1100000
1100000
1100000
0.0001
200000000
21249676
20867943
21249676
20867943
26333
11549
49608
37684
22500
22500
67500
67500
20311
15295
69197
69045
94820
94820
15000
1763
1650
5138
7250
165727
50994
286263
196479
-165727
-50994
-286263
-196479
-19461
-8934
-109881
-48578
-47257
-4038
-192198
11008
21105
-66718
8133
-146620
-17873
-232445
-42861
-432883
-214352
-232445
-42861
-0.01
-0.02
-0.01
21175763
20867942
21050885
20690328
-432883
-214352
91020
1687
1914
30199
30826
-192198
11008
155459
19697
-8630
-5949
-36306
-35015
-311
53
5027
8575
-181727
-120523
-58497
-54206
2100
-2100
104500
52500
53900
43985
30500
21850
60515
54050
-82
-156
183
396
101
240
10-Q
2016-01-31
false
CANYON GOLD CORP.
0001533357
cgcc
--04-30
21249676
Smaller Reporting Company
Yes
No
No
2016
Q3
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><b>1. Nature of Operations and Continuation of Business</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Canyon Gold Corp. (the "Company") was incorporated in the State of Delaware on May 27, 1998 as Mayne International Ltd.  On September 5, 2000, the Company changed its name to Black Dragon Entertainment, Inc.  On July 31, 2002, the Company changed its name to Vita Biotech Corporation.  On May 27, 2004, the Company changed its name to August Energy Corp. and, subsequently on April 17, 2011, the Company changed its name to Canyon Gold Corp.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><b>Going Concern</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America applicable to a going concern.  Through January 31, 2016, the Company has no revenues, has accumulated losses of $2,220,159 and a working capital deficit of $1,176,613 and expects to incur further losses in the development of its business, all of which cast substantial doubt about the Company’s ability to continue as a going concern.  Management plans to continue to provide for the Company's capital needs during the year ending April 30, 2016 by issuing debt and equity securities and by the continued support of its related parties (see Note 4).  The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.  There is no assurance that funding will be available to continue the Company’s business operations.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'><b><font lang="EN-CA">2. Basis of Presentation and Summary of Significant Accounting Policies</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States.  The Company’s fiscal year end is April 30.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>The interim condensed consolidated financial statements have been prepared without audit in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Securities and Exchange Commission (“SEC”) Form 10-Q.  They do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements.  Therefore, these unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended April 30, 2015 included in its Annual Report on Form 10-K filed with the SEC. </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>The interim condensed consolidated financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s consolidated financial position as of January 31, 2016, the consolidated results of its operations for the three and nine months ended January 31, 2016 and 2015, and its consolidated cash flows for the nine months ended January 31, 2016 and 2015.  The results of operations for the three and nine months ended January 31, 2016 are not necessarily indicative of the results to be expected for future quarters or the full year ending April 30, 2016.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><i>Consolidation</i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>These condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Long Canyon.  All inter-company transactions and balances have been eliminated.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><i><font style='background:white'>Use of Estimates</font></i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'><font style='background:white'>The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'><i><font style='background:white'>Basic and Diluted Loss per Common Share</font></i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'><font style='background:white'>Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity.  There are no such common stock equivalents outstanding for the three and nine months ended January 31, 2016 and 2015.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'><b><font lang="EN-CA">3. Mineral Claims</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>On March 12, 2011, the Company’s wholly owned subsidiary, Long Canyon, acquired a 100% interest in 30 mineral claims located in the State of Nevada for $37,820.  This amount has been recorded as mineral claims, a non-current asset in the Company’s condensed consolidated balance sheets.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>The Company is committed to pay a 3% Net Smelter Royalty on all the claims acquired by Long Canyon.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'><b><font lang="EN-CA">4. Related Party Transactions and Balances</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Management and administrative services are compensated as per a Service Agreement between the Company and its Chief Executive Officer executed on April 30, 2011, a Service Agreement between the Company and its former Chief Executive Officer executed on December 6, 2012, and an Administration Agreement with a related party executed on March 15, 2011 and renewed on May 1, 2015, whereby the fee is based on services provided and invoiced by the related parties on a monthly basis and the fees are paid in cash when possible or with common stock.  The Company also, from time to time, has some of its expenses paid by related parties with the intent to repay.  These types of transactions, when incurred, result in payables to related parties in the Company’s consolidated financial statements as a necessary part of funding the Company’s operations.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>As of January 31, 2016 and April 30, 2015, the Company had payable balances due to related parties totaling $550,905 and $369,178, respectively, which resulted from transactions with significant shareholders.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'>Convertible notes payable – related parties consisted of the following at:</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="552" style='width:5.75in;margin-left:.45in;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'>            </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>January 31, 2016</b></p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>April 30, 2015</b></p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, no interest, convertible into common stock of the Company at $0.10 per share, imputed interest at 9% per annum</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           25,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           25,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, interest at 6%, convertible into common stock of the Company at $0.10 per share</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>32,050</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>32,050</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           57,050</p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$          57,050</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Convertible notes payable – related parties issued prior to the fiscal year ended April 30, 2014 were convertible 30 days from the first day the Company’s common shares are qualified for trading on the OTC Bulletin Board, which occurred in November 2012.  As of January 31, 2016, the convertible note payable – related party of $25,000 had not been converted and therefore is in default.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Historically, there has been no determinable and active market value for the Company’s common stock. Accordingly, no beneficial conversion feature or derivative liabilities were determinable or have been recognized related to the Company’s convertible notes payable – related parties.  These convertible features will be evaluated in subsequent periods for fair value determination.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Notes payable – related parties are currently in default and consisted of the following at:</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="552" style='width:5.75in;margin-left:.45in;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'>            </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>January 31, 2016</b></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>April 30, 2015</b></p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, with interest at 6% per annum, due September 15, 2013</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           24,656</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           24,656</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, with interest at 6% per annum, due March 8, 2014</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>7,500</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>7,500</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, with interest at 6% per annum, due December 5, 2013</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>47,500</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>47,500</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           79,656</p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           79,656</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Accrued interest payable – related parties was $16,170 and $11,143 at January 31, 2016 and April 30, 2015, respectively.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'><b><font lang="EN-CA">5. Convertible Notes Payable</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Convertible notes payable consisted of the following at:</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="552" style='width:5.75in;margin-left:.45in;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'>            </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>January 31, 2016</b></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>April 30, 2015</b></p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable, no interest, convertible into common stock of the Company at $0.02 per share </p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           11,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           11,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable, no interest, convertible into common stock of the Company at $0.02 per share 90 days from demand</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>141,150</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>141,150</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable, no interest, convertible into common stock of the Company at $0.02 per share on a quarterly basis</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>14,500</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>14,500</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable, with interest at 6% per annum, due November 11, 2015, convertible into common stock of the Company at $0.10 per share</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>20,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to institutional investor, with interest at 6% per annum, due November 24, 2016, convertible after six months into common stock of the Company at a defined conversion price</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>55,500</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to institutional investor, with interest at 6% per annum, due December 31, 2016, convertible after six months into common stock of the Company at a defined conversion price</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>39,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to institutional investor repaid in August 2015</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>38,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to institutional investor repaid in September 2015</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>16,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Other, with interest at 6% per annum</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>9,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>9,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Less discount</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>(80,885)</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>(29,902)</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$         209,265</p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$         199,748</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>The $11,000 and $141,150 convertible notes payable outstanding at January 31, 2016 were convertible 30 days from the first day the Company’s common shares are qualified for trading on the OTC Bulletin Board, which occurred in November 2012.  As of January 31, 2016, these two convertible notes had not been converted and therefore are in default.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'>On December 3, 2014, the Company entered into a convertible promissory note with an institutional investor (“Investor”) for $38,000, which bore interest at an annual rate of 8% and matured on September 5, 2015.  The Investor had the right, after the first 180 days of the note, to convert the note and accrued interest in whole or in part into shares of the common stock of the Company at a price per share equal to 58% (representing a discount rate of 42%) of the average of the lowest three trading prices for the Company’s common stock during the ten trading day period ending one trading day prior to the date of the conversion notice.  At any time for the period beginning on the date of the note and ending on the date which is 30 days following the date of the note, the Company could prepay the note upon payment of an amount equal to the outstanding principal multiplied by 120%, together with accrued and unpaid interest.  The amount of the prepayment increased every subsequent 30 days to 125%, 130%, 135%, 140% and 145% of the outstanding principal together with accrued and unpaid interest.  After the expiration of 180 days following the date of the note, the Company had no right of prepayment.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>At the inception of the convertible note to institutional investor, the Company recorded debt issuance costs of $3,000 in prepaid expenses, and a debt discount and derivative liability of $37,325 related to the conversion feature.  Interest expense for the amortization of the debt discount was calculated on a straight-line basis over the life of the convertible note.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>In June 2015, the Company paid the institutional investor $25,000, $14,286 principal of the $38,000 convertible note payable and $10,714 in early payment penalties. On July 1, 2015, the institutional investor converted $10,014 principal of the convertible loan into 181,748 shares of the Company’s common stock.  In August 2015, the Company paid the institutional investor $20,000, $5,714 principal and $14,286 in accrued interest and early payment penalties.  In October 2015, the Company paid the institutional investor $42,500, the remaining principal of $7,986 and $34,514 in loan extension fees and early payment penalties.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>On March 2, 2015, the Company entered into a convertible promissory note with an institutional investor for $16,000, which bore interest at an annual rate of 8% and matured on December 4, 2015. The investor had the right, after the first 180 days of the note, to convert the note and accrued interest in whole or in part into shares of the common stock of the Company at a price per share equal to 58% (representing a discount rate of 42%) of the average of the lowest three trading prices for the Company’s common stock during the ten trading day period ending one trading day prior to the date of the conversion notice. At any time for the period beginning on the date of the note and ending on the date which is 30 days following the date of the note, the Company could prepay the note upon payment of an amount equal to the outstanding principal multiplied by 120%, together with accrued and unpaid interest. The amount of the prepayment increased every subsequent 30 days to 125%, 130%, 135%, 140% and 145% of the outstanding principal together with accrued and unpaid interest. After the expiration of 180 days following the date of the note, the Company had no right of prepayment.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>At the inception of the convertible note to institutional investor, the Company recorded debt issuance costs of $500 in prepaid expenses, and a debt discount and derivative liability of $16,000 related to the conversion feature. Interest expense for the amortization of the debt discount was calculated on a straight-line basis over the life of the convertible note.  The convertible note was paid in full in September 2015.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>On November 24, 2015, the Company entered into a convertible promissory note with an institutional investor for $55,500, which bears interest at an annual rate of 8% and matures on November 24, 2016. The investor has the right, after the first 180 days of the note, to convert the note and accrued interest in whole or in part into shares of the common stock of the Company at a price per share equal to 55% (representing a discount rate of 45%) of the lowest sale price of the Company’s common stock during the twenty consecutive trading days immediately preceding the date of the conversion notice. At any time for the period beginning on the date of the note and ending on the date which is six months following the date of the note, the Company can prepay the note upon payment of an amount equal to the outstanding principal multiplied by 135%, together with accrued and unpaid interest, provided that such prepayment factor shall equal 125% if prepayment is made on or before a date that is 90 days from the date of the note. After the expiration of 180 days following the date of the note, the Company has no right of prepayment.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>At the inception of the convertible note to institutional investor, the Company recorded debt issuance costs of $3,000 in prepaid expenses, a debt discount of $55,500, including an original issue discount of $7,000, a derivative liability of $167,776 related to the conversion feature, and a loss on derivative liability of $119,276. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the life of the convertible note.  </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>On December 31, 2015, the Company entered into a convertible promissory note with an institutional investor for $39,000, which bears interest at an annual rate of 8% and matures on December 31, 2016. The investor has the right, after the first 180 days of the note, to convert the note and accrued interest in whole or in part into shares of the common stock of the Company at a price per share equal to 55% (representing a discount rate of 45%) of the lowest trading price of the Company’s common stock during the twenty consecutive trading days immediately preceding the date of the conversion notice. The Company can prepay the outstanding note principal pursuant to the following schedule:  payment on day 1 – 60 at 120% of principal owed; payment on day 61 – 120 at 135% of principal owed; and payment on day 121 – 180 at 150% of principal owed. After the expiration of 180 days following the date of the note, the Company has no right of prepayment.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>At the inception of the convertible note to institutional investor, the Company recorded debt issuance costs of $4,500 in prepaid expenses, a debt discount of $39,000, including an original issue discount of $3,000, a derivative liability of $70,144 related to the conversion feature, and a loss on derivative liability of $34,144. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the life of the convertible note.  </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>During the nine months ended January 31, 2016, we had the following activity in our derivative liability account:</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:41.4pt;border-collapse:collapse'> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Balance at April 30, 2015</p> </td> <td width="104" valign="bottom" style='width:78.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$      47,808</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Issuance of new debt</p> </td> <td width="104" valign="bottom" style='width:78.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>84,500</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Loss on derivative liability </p> </td> <td width="104" valign="bottom" style='width:78.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>192,198</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Conversion of debt to shares of common stock    and repayment of debt</p> </td> <td width="104" valign="bottom" style='width:78.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:-.05in;text-align:right'> (192,749)</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Amortization of debt discount to interest expense</p> </td> <td width="104" valign="bottom" style='width:78.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>-</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> </td> <td width="104" valign="bottom" style='width:78.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Balance at January 31, 2016</p> </td> <td width="104" valign="bottom" style='width:78.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         131,757</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>The estimated fair value of the derivative liability at January 31, 2016 was calculated using the Black-Scholes pricing model with the following assumptions:</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-indent:.5in'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:41.4pt;border-collapse:collapse'> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> </td> <td width="137" valign="top" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> </td> </tr> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Risk-free interest rate</p> </td> <td width="137" valign="bottom" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'>0.47%</p> </td> </tr> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Expected life in years</p> </td> <td width="137" valign="bottom" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'>0.82 - 0.92</p> </td> </tr> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Dividend yield</p> </td> <td width="137" valign="bottom" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'>0%</p> </td> </tr> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Expected volatility</p> </td> <td width="137" valign="bottom" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'>147.38% - 153.42%</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Accrued interest payable was $2,694 and $2,383 at January 31, 2016 and April 30, 2015, respectively.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><b>6. Financial Instruments</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Pursuant to ASC 820, <i>Fair Value Measurements and Disclosures </i>and ASC 825, <i>Financial Instruments, </i>an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value using a hierarchy based on the level of independent, objective evidence when measuring fair value using a hierarch based on the level of independent, objective evidence surrounding the inputs used to measure fair value.  A financial instrument’s categorization with the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.  The hierarchy prioritized the inputs into three levels that may be used to measure fair value:</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><i>Level 1</i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><i>Level 2</i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in markets that are not active.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><i>Level 3</i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>As of January 31, 2016, the Company believes the amounts reported for cash, payables, accrued liabilities and amounts due to related parties approximate their fair values due to the nature or duration of these instruments.  In addition, the fair value of certain of the Company’s convertible notes was not determinable since there has been no current market value for the Company’s common stock.  Accordingly, no beneficial conversion feature or derivative liabilities were determinable or have been recognized related to these convertible notes payable.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>The convertible notes payable to institutional investors and related derivative liability are measured at fair value on a recurring basis and estimated as follows at January 31, 2016:</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:justify'> </p> </td> <td width="104" valign="top" style='width:77.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>Total</b></p> </td> <td width="113" valign="top" style='width:85.05pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>Level 1</b></p> </td> <td width="123" valign="top" style='width:92.15pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>Level 2</b></p> </td> <td width="104" valign="top" style='width:77.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>Level 3</b></p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:justify'> </p> </td> <td width="104" valign="top" style='width:77.95pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="113" valign="top" style='width:85.05pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="123" valign="top" style='width:92.15pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="104" valign="top" style='width:77.95pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Derivative liability</p> </td> <td width="104" valign="bottom" style='width:77.95pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         131,757</p> </td> <td width="113" valign="bottom" style='width:85.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$                       -</p> </td> <td width="123" valign="bottom" style='width:92.15pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$                        -</p> </td> <td width="104" valign="bottom" style='width:77.95pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         131,757</p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Convertible notes payable, net</p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>13,615</p> </td> <td width="113" valign="bottom" style='width:85.05pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>-</p> </td> <td width="123" valign="bottom" style='width:92.15pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>-</p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>13,615</p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="113" valign="bottom" style='width:85.05pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="123" valign="bottom" style='width:92.15pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Total liabilities measured    at fair value</p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         145,372</p> </td> <td width="113" valign="bottom" style='width:85.05pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$                       -</p> </td> <td width="123" valign="bottom" style='width:92.15pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$                        -</p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         145,372</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'><b><font lang="EN-CA">7. Stockholders’ Deficit</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;line-height:12.0pt;background:white'><b>Common Stock:</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;line-height:12.0pt;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;line-height:12.0pt;background:white'>The Company has 200,000,000 shares of $0.0001 par value common stock authorized.  On February 20, 2014, a majority of the shareholders of the Company holding 82.95% of the Company’s voting stock approved a 20:1 reverse stock split.   On March 3, 2014, a request was filed with the Financial Industry Regulatory Authority (FINRA) to approve the reverse split.  FINRA approved the reverse split effective April 4, 2014.  The reverse stock split has been given retroactive effect in the accompanying consolidated financial statements and notes thereto.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>During the nine months ended January 31, 2016, the Company issued 181,748 shares of its common stock for conversion of debt:  reducing convertible notes payable by $10,014, reducing debt discount by $2,594, reducing derivative liability by $24,051, increasing common stock by $18, increasing additional paid-in capital by $33,969 and recording a loss on extinguishment of debt of $2,516.  In addition, the Company cancelled 15 shares of its common stock with no impact on its consolidated financial statements.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>On December 4, 2015, the Company issued 200,000 shares of its common stock, valued at $0.4551 per share, to a new member of its board of directors.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><b>Preferred Stock:</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>The Company has 20,000,000 shares of $0.0001 par value preferred stock.  </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>During the year ended April 30, 2012, the Company issued 600,000 shares of Series A convertible preferred stock to a related party in payment of an outstanding debt.  The Series A convertible preferred shares are convertible into ten common voting shares and carry voting rights on the basis of 100 votes per share with rights and preferences being decided by the Board of Directors of the Company.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>During the year ended April 30, 2012, the Company issued 500,000 shares of Series B convertible preferred stock in the acquisition of Long Canyon.  The Series B convertible preferred shares are convertible into ten common voting shares and carry no voting rights.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><b><font lang="EN-CA">8. Contingencies and Commitments</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-autospace:ideograph-numeric ideograph-other;margin-left:.25in;text-indent:-.25in;background:white'><b>(a) </b><b>Litigation</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business.  However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm the Company.  The Company is currently not aware of any such legal proceedings or claims that the Company believes will have, individually or in the aggregate, a material adverse effect on its business, financial condition or operating results.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-autospace:ideograph-numeric ideograph-other;margin-left:.25in;text-indent:-.25in;background:white'><b>(b) </b><b>Indemnities and Guarantees</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>During the normal course of business, the Company has made certain indemnities and guarantees under which it may be required to make payments in relation to certain transactions.  The Company indemnifies its directors, officers, employees and agents to the maximum extent permitted under the laws of the State of Nevada.  These indemnities include certain agreements with the Company's officers under which the Company may be required to indemnify such person for liabilities arising out of their employment relationship.  The duration of these indemnities and guarantees varies and, in certain cases, is indefinite.  The majority of these indemnities and guarantees do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. Historically, the Company has not been obligated to make significant payments for these obligations and no liabilities have been recorded for these indemnities and guarantees in the accompanying consolidated balance sheets.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-autospace:ideograph-numeric ideograph-other;margin-left:.25in;text-indent:-.25in;background:white'><b>(c) </b><b>Commitments</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>The Company has the following commitments as of January 31, 2016:</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style='width:100.0%'> <tr align="left"> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>a) </p> </td> <td valign="top" style='padding:0'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'><font style='background:white'>Administration Agreement with EMAC Handels AG, signed on April 20, 2011, for a six-year term and renewed effective May 1, 2014.  From May 2011 to April 2013, the Company paid EMAC a monthly fee of </font><font style='background:white'>$3,500</font><font style='background:white'> for administration services, office rent of </font><font style='background:white'>$250</font><font style='background:white'>, and office supplies of </font><font style='background:white'>$125</font><font style='background:white'>.  Commencing May 1, 2013, the monthly fee for administrative services increased to </font><font style='background:white'>$5,000</font><font style='background:white'>. Extraordinary expenses are invoiced by EMAC on a quarterly basis.  The fee may be paid in cash and/or with common stock.</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style='width:100.0%'> <tr align="left"> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>b) </p> </td> <td valign="top" style='padding:0'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'><font style='background:white'>Service Agreement with Stephen M. Studdert, President of Long Canyon, for administration fees of </font><font style='background:white'>$2,500</font><font style='background:white'> per month, signed on December 6, 2012. The fees may be paid in cash and/or with common stock.</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style='width:100.0%'> <tr align="left"> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>c) </p> </td> <td valign="top" style='padding:0'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'><font style='background:white'>In order to maintain the Company’s claims and/or leases, the Company must make annual payments to the Bureau of Land Management (“BLM”) and the State of Nevada, due in September of each year.  Payment to the BLM is currently </font><font style='background:white'>$195 </font><font style='background:white'>per claim and the State of Nevada is currently </font><font style='background:white'>$40 </font><font style='background:white'>per claim, or a total annual commitment of $7,050.</font></p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><b>9. Recent Accounting Pronouncements</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>There were no new accounting pronouncements issued during the nine months ended January 31, 2016 and through the date of filing this quarterly report that the Company believes would be applicable to or have a material impact on the Company’s consolidated financial statements.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'><b><font lang="EN-CA">10. Supplemental Statement of Cash Flows Information</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'><font lang="EN-CA">During the nine months ended January 31, 2016 and 2015, the Company paid </font><font lang="EN-CA">$67,514</font><font lang="EN-CA"> and </font><font lang="EN-CA">$1,550</font><font lang="EN-CA"> for interest. </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'><font lang="EN-CA">During the nine months ended January 31, 2016 and 2015, the Company paid no amounts for income taxes.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'><font lang="EN-CA">During the nine months ended January 31, 2016, the Company had the following non-cash investing and financing activities:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'><font lang="EN-CA">Increased common stock by </font><font lang="EN-CA">$18</font><font lang="EN-CA">, increased additional paid-in capital by </font><font lang="EN-CA">$33,969</font><font lang="EN-CA">, decreased convertible notes payable by </font><font lang="EN-CA">$10,014</font><font lang="EN-CA">, decreased debt discount by $2,594 and decreased derivative liability by $24,051.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'><font lang="EN-CA">Decreased debt discount by </font><font lang="EN-CA">$10,723</font> <font lang="EN-CA">and derivative liability by </font><font lang="EN-CA">$168,698</font><font lang="EN-CA">.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'><font lang="EN-CA">Increased debt discount and derivative liability by </font><font lang="EN-CA">$84,500</font><font lang="EN-CA">.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'><font lang="EN-CA">During the nine months ended January 31, 2015, the Company had the following non-cash investing and financing activities:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'><font lang="EN-CA">Increased common stock by </font><font lang="EN-CA">$239</font><font lang="EN-CA">, increased additional paid-in capital by </font><font lang="EN-CA">$174,761</font><font lang="EN-CA"> and decreased payables – related parties by </font><font lang="EN-CA">$175,000</font><font lang="EN-CA">.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'><font lang="EN-CA">Increased common stock by </font><font lang="EN-CA">$211</font><font lang="EN-CA">, increased additional paid-in capital by </font><font lang="EN-CA">$180,497</font><font lang="EN-CA">, decreased accrued interest payable – related parties by </font><font lang="EN-CA">$49,708</font><font lang="EN-CA"> and decreased convertible notes payable – related parties by </font><font lang="EN-CA">$131,000</font><font lang="EN-CA">.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'><font lang="EN-CA">Increased common stock by </font><font lang="EN-CA">$187</font><font lang="EN-CA">, increased additional paid-in capital by </font><font lang="EN-CA">$186,380</font><font lang="EN-CA">, decreased accrued interest payable by </font><font lang="EN-CA">$2,406</font><font lang="EN-CA"> and decreased convertible notes payable by </font><font lang="EN-CA">$158,168</font><font lang="EN-CA">.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-top:0in;margin-right:1.8pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt'><font lang="EN-CA">Increased debt discount and derivative liability by </font><font lang="EN-CA">$37,326</font><font lang="EN-CA">.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'><b>11. Acquisitions</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'><b>Defense Technology Corporation</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>On October 5, 2015, the Company entered into an agreement to acquire 100% of Defense Technology Corporation, a privately held Colorado company with principal offices in New Port Richey, Florida (“DTC”). DTC is the developer of defense, detection and protection products to improve security for military personnel and schools and other public facilities. Following completion of the acquisition, DTC will become a wholly owned subsidiary of the Company.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>In consideration for the acquisition, the Company will issue 4,000,000 shares of its common stock to the sole shareholder of DTC and certain of its note holders. Additionally, DTC will be able to earn certain additional Company preferred shares, Series “B” Convertible (“Series “B” Shares”), upon attaining certain milestone gross sales. The closing of the acquisition was scheduled on or before November 30, 2015 and was subsequently extended to December 31, 2015.  However, the closing has been extended pending the completion of DTC’s audited financial statements.  Following the closing, Canyon Gold will use its reasonable best efforts to effectuate a spin-off of its present subsidiary, Long Canyon Gold Resources Corp., on terms to be determined.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'><b>Vaportech </b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>On June 6, 2015, the Company entered into an agreement to acquire 90% of Vaportech3d LLC, a privately held Nevada limited liability company, formerly known as EMAC Holdings, LLC, a related party, (“Vaportech”), owner of the Cedar Leaf Oil Vapor Technology.  Based on the due diligence performed, on September 8, 2015, the parties entered into an agreement to cancel the acquisition.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-autospace:ideograph-numeric ideograph-other'><b>12. Subsequent Events</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'>In accordance with ASC 855, Subsequent Events, the Company has evaluated subsequent events to determine events occurring after January 31, 2016 that would have a material impact on the Company’s financial results or require disclosure.</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:1.8pt'>The Company has not closed the acquisition of DTC pending the completion of audited financial statements of DTC.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><b>Going Concern</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America applicable to a going concern.  Through January 31, 2016, the Company has no revenues, has accumulated losses of $2,220,159 and a working capital deficit of $1,176,613 and expects to incur further losses in the development of its business, all of which cast substantial doubt about the Company’s ability to continue as a going concern.  Management plans to continue to provide for the Company's capital needs during the year ending April 30, 2016 by issuing debt and equity securities and by the continued support of its related parties (see Note 4).  The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.  There is no assurance that funding will be available to continue the Company’s business operations.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><i>Consolidation</i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>These condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Long Canyon.  All inter-company transactions and balances have been eliminated.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'><i><font style='background:white'>Use of Estimates</font></i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'><font style='background:white'>The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'><i><font style='background:white'>Basic and Diluted Loss per Common Share</font></i></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white;text-autospace:ideograph-numeric ideograph-other'><font style='background:white'>Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity.  There are no such common stock equivalents outstanding for the three and nine months ended January 31, 2016 and 2015.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'>There were no new accounting pronouncements issued during the nine months ended January 31, 2016 and through the date of filing this quarterly report that the Company believes would be applicable to or have a material impact on the Company’s consolidated financial statements.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="552" style='width:5.75in;margin-left:.45in;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'>            </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>January 31, 2016</b></p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>April 30, 2015</b></p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, no interest, convertible into common stock of the Company at $0.10 per share, imputed interest at 9% per annum</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           25,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           25,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, interest at 6%, convertible into common stock of the Company at $0.10 per share</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>32,050</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>32,050</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           57,050</p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$          57,050</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="552" style='width:5.75in;margin-left:.45in;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'>            </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>January 31, 2016</b></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>April 30, 2015</b></p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, with interest at 6% per annum, due September 15, 2013</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           24,656</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           24,656</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, with interest at 6% per annum, due March 8, 2014</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>7,500</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>7,500</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to related party, with interest at 6% per annum, due December 5, 2013</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>47,500</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>47,500</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           79,656</p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           79,656</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="552" style='width:5.75in;margin-left:.45in;border-collapse:collapse'> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'>            </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>January 31, 2016</b></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>April 30, 2015</b></p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable, no interest, convertible into common stock of the Company at $0.02 per share </p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           11,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$           11,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable, no interest, convertible into common stock of the Company at $0.02 per share 90 days from demand</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>141,150</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>141,150</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable, no interest, convertible into common stock of the Company at $0.02 per share on a quarterly basis</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>14,500</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>14,500</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable, with interest at 6% per annum, due November 11, 2015, convertible into common stock of the Company at $0.10 per share</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>20,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to institutional investor, with interest at 6% per annum, due November 24, 2016, convertible after six months into common stock of the Company at a defined conversion price</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>55,500</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to institutional investor, with interest at 6% per annum, due December 31, 2016, convertible after six months into common stock of the Company at a defined conversion price</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>39,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to institutional investor repaid in August 2015</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>38,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Note payable to institutional investor repaid in September 2015</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>-</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>16,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Other, with interest at 6% per annum</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>9,000</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>9,000</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p align="left" style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none;margin-left:8.1pt;text-align:left;text-indent:-8.1pt'>Less discount</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>(80,885)</p> </td> <td width="108" valign="bottom" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>(29,902)</p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="336" valign="top" style='width:3.5in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-autospace:none'> </p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$         209,265</p> </td> <td width="108" valign="bottom" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:.05in;text-align:right'>$         199,748</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:41.4pt;border-collapse:collapse'> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Balance at April 30, 2015</p> </td> <td width="104" valign="bottom" style='width:78.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$      47,808</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Issuance of new debt</p> </td> <td width="104" valign="bottom" style='width:78.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>84,500</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Loss on derivative liability </p> </td> <td width="104" valign="bottom" style='width:78.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>192,198</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Conversion of debt to shares of common stock    and repayment of debt</p> </td> <td width="104" valign="bottom" style='width:78.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;margin-right:-.05in;text-align:right'> (192,749)</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Amortization of debt discount to interest expense</p> </td> <td width="104" valign="bottom" style='width:78.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>-</p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> </td> <td width="104" valign="bottom" style='width:78.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="443" valign="top" style='width:332.55pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Balance at January 31, 2016</p> </td> <td width="104" valign="bottom" style='width:78.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         131,757</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-indent:.5in'> </p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:41.4pt;border-collapse:collapse'> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> </td> <td width="137" valign="top" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> </td> </tr> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Risk-free interest rate</p> </td> <td width="137" valign="bottom" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'>0.47%</p> </td> </tr> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Expected life in years</p> </td> <td width="137" valign="bottom" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'>0.82 - 0.92</p> </td> </tr> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Dividend yield</p> </td> <td width="137" valign="bottom" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'>0%</p> </td> </tr> <tr align="left"> <td width="306" valign="top" style='width:229.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Expected volatility</p> </td> <td width="137" valign="bottom" style='width:103.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'>147.38% - 153.42%</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;background:white'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:justify'> </p> </td> <td width="104" valign="top" style='width:77.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>Total</b></p> </td> <td width="113" valign="top" style='width:85.05pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>Level 1</b></p> </td> <td width="123" valign="top" style='width:92.15pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>Level 2</b></p> </td> <td width="104" valign="top" style='width:77.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:center'><b>Level 3</b></p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:justify'> </p> </td> <td width="104" valign="top" style='width:77.95pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="113" valign="top" style='width:85.05pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="123" valign="top" style='width:92.15pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="104" valign="top" style='width:77.95pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Derivative liability</p> </td> <td width="104" valign="bottom" style='width:77.95pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         131,757</p> </td> <td width="113" valign="bottom" style='width:85.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$                       -</p> </td> <td width="123" valign="bottom" style='width:92.15pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$                        -</p> </td> <td width="104" valign="bottom" style='width:77.95pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         131,757</p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Convertible notes payable, net</p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>13,615</p> </td> <td width="113" valign="bottom" style='width:85.05pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>-</p> </td> <td width="123" valign="bottom" style='width:92.15pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>-</p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>13,615</p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'> </p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="113" valign="bottom" style='width:85.05pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="123" valign="bottom" style='width:92.15pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="206" valign="top" style='width:154.25pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>Total liabilities measured    at fair value</p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         145,372</p> </td> <td width="113" valign="bottom" style='width:85.05pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$                       -</p> </td> <td width="123" valign="bottom" style='width:92.15pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$                        -</p> </td> <td width="104" valign="bottom" style='width:77.95pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-autospace:none;text-align:right'>$         145,372</p> </td> </tr> </table>
Delaware
1998-05-27
-2220159
1176613
37820
0.0300
550905
369178
25000
25000
32050
32050
57050
57050
24656
24656
7500
7500
47500
47500
79656
79656
16170
11143
11000
11000
141150
141150
14500
14500
20000
55500
39000
38000
16000
9000
9000
80885
29902
209265
199748
3000
37325
500
16000
3000
55500
167776
119276
4500
39000
70144
34144
47808
84500
192198
-192749
131757
0.0047
P9M25D
P11M1D
0.0000
1.4738
1.5342
2694
2383
131757
131757
13615
13615
145372
145372
200000000
0.0001
181748
200000
20000000
0.0001
600000
500000
3500
250
125
5000
2500
195
40
67514
1550
18
33969
10014
10723
168698
84500
239
174761
175000
211
180497
49708
131000
187
186380
2406
158168
37326
0001533357
2015-05-01
2016-01-31
0001533357
2016-01-31
0001533357
2015-04-30
0001533357
2015-11-01
2016-01-31
0001533357
2014-11-01
2015-01-31
0001533357
2014-05-01
2015-01-31
0001533357
2014-04-30
0001533357
2015-01-31
0001533357
2008-06-19
2016-01-31
0001533357
2016-03-10
0001533357
fil:NotesPayableRelatedParty1Member
2016-01-31
0001533357
fil:NotesPayableRelatedParty1Member
2015-04-30
0001533357
fil:NotesPayableRelatedParty2Member
2016-01-31
0001533357
fil:NotesPayableRelatedParty2Member
2015-04-30
0001533357
fil:NotesPayableRelatedParty3Member
2016-01-31
0001533357
fil:NotesPayableRelatedParty3Member
2015-04-30
0001533357
fil:ConvertibleNotePayable1Member
2016-01-31
0001533357
fil:ConvertibleNotePayable1Member
2015-04-30
0001533357
fil:ConvertibleNotePayable2Member
2016-01-31
0001533357
fil:ConvertibleNotePayable2Member
2015-04-30
0001533357
fil:ConvertibleNotePayable3Member
2016-01-31
0001533357
fil:ConvertibleNotePayable3Member
2015-04-30
0001533357
fil:ConvertibleNotePayable4Member
2016-01-31
0001533357
fil:ConvertibleNotePayable5Member
2016-01-31
0001533357
fil:ConvertibleNotePayable6Member
2016-01-31
0001533357
fil:ConvertibleNotePayable7Member
2015-04-30
0001533357
fil:ConvertibleNotePayable8Member
2015-04-30
0001533357
fil:OtherConvertibleDebtMember
2016-01-31
0001533357
fil:OtherConvertibleDebtMember
2015-04-30
0001533357
fil:ConvertibleNotePayable7Member
2014-12-03
0001533357
fil:ConvertibleNotePayable8Member
2015-03-02
0001533357
fil:ConvertibleNotePayable5Member
2015-11-24
0001533357
fil:ConvertibleNotePayable6Member
2015-12-31
0001533357
fil:DerivativeLiabilityMember
2015-04-30
0001533357
fil:DerivativeLiabilityMember
2016-01-31
0001533357
us-gaap:MinimumMember
2015-05-01
2016-01-31
0001533357
us-gaap:MaximumMember
2015-05-01
2016-01-31
0001533357
us-gaap:FairValueInputsLevel3Member
2016-01-31
0001533357
fil:ConvertibleNotePayable7Member
2014-02-01
2014-02-28
0001533357
fil:ConvertibleNotePayable8Member
2015-03-01
2015-03-31
0001533357
fil:ConvertibleNotePayable5Member
2015-11-01
2016-11-30
0001533357
fil:ConvertibleNotePayable5Member
2015-11-01
2015-11-30
0001533357
fil:ConvertibleNotePayable6Member
2015-12-01
2016-12-31
0001533357
fil:ConvertibleNotePayable6Member
2015-12-01
2015-12-31
0001533357
fil:DerivativeLiabilityMember
2015-05-01
2016-01-31
0001533357
us-gaap:PreferredStockMember
2011-05-01
2012-04-30
0001533357
fil:EmacHandelsAgMember
2011-05-01
2013-04-30
0001533357
fil:EmacHandelsAgMember
2013-05-01
2014-07-31
0001533357
fil:DelbertGBlewettMember
2016-01-31
0001533357
fil:BureauOfLandManagementMember
2015-05-01
2016-01-31
0001533357
fil:StateOfNevadaMember
2015-05-01
2016-01-31
0001533357
us-gaap:CommonStockMember
2015-05-01
2016-01-31
0001533357
us-gaap:AdditionalPaidInCapitalMember
2015-05-01
2016-01-31
0001533357
us-gaap:CommonStockMember
2014-05-01
2015-01-31
0001533357
us-gaap:AdditionalPaidInCapitalMember
2014-05-01
2015-01-31
iso4217:USD
shares
iso4217:USD
shares
pure