| Schedule of Convertible Notes Payable |
| |
|
April 30, |
|
|
April 30, |
|
| |
|
2016 |
|
|
2015 |
|
| Convertible note payable - related party originating August 14, 2012; no monthly payments required; bearing interest at 5% [A] [B] |
|
$ |
300,000 |
|
|
$ |
300,000 |
|
| Convertible note payable - related party originating March 13, 2012; no monthly payments required; bearing interest at 0.19% [A] [B] [C] |
|
|
— |
|
|
|
300,000 |
|
| Convertible note payable - originating February 29, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 29, 2014 |
|
|
50,000 |
|
|
|
50,000 |
|
| Loan Payable - related party (See Note 8) originating February 25, 2012; no monthly payments required; bearing interest at 10% [B] |
|
|
1,000,000 |
|
|
|
1,000,000 |
|
| Total |
|
|
1,350,000 |
|
|
|
1,650,000 |
|
| Less: Current
maturities (convertible notes payable) |
|
|
(50,000 |
) |
|
|
(50,000 |
) |
| Subtotal |
|
|
1,300,000 |
|
|
|
1,600,000 |
|
| Less: amount due after one year for notes payable |
|
|
(1,000,000 |
) |
|
|
(1,000,000 |
) |
| Amount due after one year for convertible notes payable |
|
$ |
300,000 |
|
|
$ |
600,000 |
|
|