Major League Football (MLFB) 10-K 13 Aug 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Apr. 30, 2015	Aug. 13, 2015	Oct. 31, 2014
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2015
Entity Registrant Name	MAJOR LEAGUE FOOTBALL INC
Entity Central Index Key	1,308,569
Current Fiscal Year End Date	--04-30
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015
Entity Filer Category	Smaller Reporting Company
Entity Units Outstanding		40,440,009
Entity Well-known Seasoned Issuer	No
Trading Symbol	MFLB
Entity Voluntary Filers	No
Entity Public Float			$ 9,797,194
Entity Current Reporting Status	Yes

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Apr. 30, 2015	Apr. 30, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 29,583	$ 1,369
Available-for-sale marketable equity securities		20,306
Prepaid expenses	$ 114,513	83
TOTAL CURRENT ASSETS	144,096	$ 21,758
LONG-TERM ASSETS
Prepaid consulting	$ 66,986
Rent deposit		$ 1,100
TOTAL LONG-TERM ASSETS	$ 66,986	1,100
TOTAL ASSETS	211,082	22,858
CURRENT LIABILITIES
Accounts payable	355,296	$ 243,823
Accounts payable - related parties	240,000
Accrued expenses	293,536	$ 232,164
State income taxes payable	110,154	$ 109,654
Convertible unsecured promissory notes	$ 463,560
Notes payable		$ 68,000
Notes payable, related parties	$ 14,000	133,294
Accrued interest	$ 10,620	20,573
Accrued interest, related parties		109,686
TOTAL CURRENT LIABILITIES	$ 1,487,166	$ 917,194
COMMITMENTS AND CONTINGENCIES (NOTE 9)
STOCKHOLDERS' DEFICIENCY
Preferred Stock, $0.001 par value, 50,000,000 shares authorized; No shares issued and outstanding at April 30, 2015 and April 30, 2014, respectively
Common stock, $0.001 par value, 150,000,000 shares authorized; 33,450,009 and 6,062,495 shares issued and outstanding at April 30, 2015 and April 30, 2014, respectively	$ 33,450	$ 6,062
Additional paid-in capital	13,180,031	9,858,186
Accumulated deficiency	$ (14,489,565)	(10,778,890)
Accumulated other comprehensive income		20,306
TOTAL STOCKHOLDERS' DEFICIENCY	$ (1,276,084)	(894,336)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$ 211,082	$ 22,858

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Apr. 30, 2015	Apr. 30, 2014
BALANCE SHEETS [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	33,450,009	6,062,495
Common stock, shares outstanding	33,450,009	6,062,495

STATEMENTS OF OPERATIONS AND CO

STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Revenue
Management services	$ 20,000	$ 25,000
Total Revenue	20,000	25,000
Operating Expenses
Salaries and wages	1,684,125	8,068
Professional fees	1,292,529	861,990
Insurance	20,857	$ 22,852
Asset purchase expense	400,000
General and administrative	396,305	$ 58,556
Total Operating Expenses	3,793,816	951,466
Operating Loss	(3,773,816)	(926,466)
Other Income (Expense)
Tax penalties and interest	(17,670)	(24,067)
Miscellaneous income	7,464	329,191
Interest expense	$ (10,620)	(13,359)
Loss on impairment of non-marketable equity securities		(23,500)
Gain (loss) on sale of available-for-sale marketable equity securities	$ 21,894	$ (9,035)
Gain on issuance of common stock in settlement of debt	62,073
Total Other Income (Expense)	63,141	$ 259,230
Net Loss	$ (3,710,675)	(667,236)
Comprehensive Loss
Unrealized gain on available-for-sale marketable equity securities		(13,036)
Total Comprehensive Loss	$ (3,710,675)	$ (680,272)
Basic and Diluted Net Loss Per Share	$ (0.14)	$ (0.12)
Weighted Average Shares - Basic and Diluted	26,763,397	5,578,665

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) - USD ($)	Total	Common stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficiency [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Apr. 30, 2013	$ (1,107,814)	$ 3,097	$ 8,965,961	$ (10,111,654)	$ 33,342
Balance, shares at Apr. 30, 2013		3,097,495
Unrealized loss on available-for-sale securities	(13,036)				$ (13,036)
Issuance of stock for consulting services, transaction one	403,750	$ 425	$ 403,325
Issuance of stock for consulting services, transaction one, shares		425,000
Sale of stock from private placement	$ 50,000	$ 100	$ 49,900
Sale of stock from private placement, shares		100,000
Issuance of stock previously issuable		$ 1,440
Issuance of stock previously issuable, shares		1,440,000
Write-off of accounts payable per agreement with related party	$ 90,000		$ 90,000
Issuance of stock for consulting services, transaction two	350,000	$ 1,000	$ 349,000
Issuance of stock for consulting services, transaction two, shares		1,000,000
Net loss	(667,236)			$ (667,236)
Balance at Apr. 30, 2014	$ (894,336)	$ 6,062	$ 9,858,186	$ (10,778,890)	$ 20,306
Balance, shares at Apr. 30, 2014	6,062,495	6,062,495
Issuance of common stock for employee services - $0.05 per share	$ 600,000	$ 12,000	588,000
Issuance of common stock for employee services - $0.05 per share, shares		12,000,000
Issuance of common stock for exchange of debt - $0.05 per share	26,500	$ 530	25,970
Issuance of common stock for exchange of debt - $0.05 per share, shares		529,998
Issuance of common stock to acquire Major League Football assets -$0.05 per share	400,000	$ 8,000	392,000
Issuance of common stock to acquire Major League Football assets -$0.05 per share, shares		8,000,000
Issuance of common stock to related party for exchange of debt -$0.05 per share	242,980	$ 1,458	241,522
Issuance of common stock to related party for exchange of debt -$0.05 per share, shares		1,457,874
Issuance of stock for consulting services, transaction one	$ 118,750	$ 2,375	116,375
Issuance of stock for consulting services, transaction one, shares		2,375,000
Write-off of accounts payable per agreement with related party
Issuance of common stock for employee services - $0.05 per share	$ 13,732	$ 275	13,457
Issuance of common stock for employee services - $0.05 per share, shares		274,642
Issuance of common stock pursuant to 2014 Stock Plan -$0.05 per share	50,000	$ 1,000	$ 49,000
Issuance of common stock pursuant to 2014 Stock Plan -$0.05 per share, shares		1,000,000
Reclassification from accumulated other comprehensive income	(20,306)				$ (20,306)
Issuance of common stock from exercise of stock options - $0.05 per share	$ 15,000	$ 300	$ 14,700
Issuance of common stock from exercise of stock options - $0.05 per share, shares	300,000	300,000
Issuance of stock for consulting services, transaction two	$ 225,250	$ 250	225,000
Issuance of stock for consulting services, transaction two, shares		250,000
Issuance of common stock for consulting services - $0.30 per share	150,000	$ 500	149,500
Issuance of common stock for consulting services - $0.30 per share, shares		500,000
Issuance of common stock from exercise of stock warrants - $0.01 per share	7,000	$ 700	6,300
Issuance of common stock from exercise of stock warrants - $0.01 per share, shares		700,000
Amortization of stock options issued for consulting services over vesting period	157,952		157,952
Amortization of stock options issued for employee services over vesting period	547,920		547,920
Amortization of common stock issued for employee services over vesting period	69,520		69,520
Stock warrants issued for consulting services vested immediately	724,629		$ 724,629
Net loss	(3,710,675)			$ (3,710,675)
Balance at Apr. 30, 2015	$ (1,276,084)	$ 33,450	$ 13,180,031	$ (14,489,565)
Balance, shares at Apr. 30, 2015	33,450,009	33,450,009

STATEMENTS OF CHANGES IN STOCK6

STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) (Parenthetical)	Jul. 14, 2014$ / shares
Share Price	$ 0.05

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,710,675)	$ (667,236)
Adjustments to reconcile net loss to net cash used in operating activities:
(Gain) loss on sale of available-for-sale marketable equity securities	$ (21,894)	9,035
Loss on impairment of non-marketable equity securities		23,500
Write off of accounts payable per statute of limitations		(113,575)
Write off of accrued payroll per statute of limitations		(130,927)
Write off of accrued interest previously recorded for tax position		(92,050)
Write off of note payable per statute of limitations		$ (2,100)
Gain on issuance of common stock for exchange of debt	$ (62,073)
Amortization of prepaid consulting over service period	195,514
Amortization of common stock issued for employee services over vesting period	547,920
Amortization of stock options issued for consulting services over vesting period	157,952
Amortization of common stock issued for employee services over vesting period	69,521
Stock warrants issued for consulting services that vested immediately	724,629
Asset purchase expense	400,000
Stock based compensation expense	782,482	$ 753,750
Write off of rent deposit	1,100
Changes in operating assets and liabilities:
Prepaid expenses	(1,930)	$ 993
Accounts payable	111,472	$ 31,407
Accounts payable - related parties	240,000
State income taxes payable	500	$ (6,000)
Accrued expenses	$ 61,372	18,068
Accrued payroll and payroll taxes		(4,086)
Accrued interest	$ 10,620	4,740
Accrued interest - related party		8,620
Net cash used in operating activities	$ (493,490)	(165,861)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of available-for-sale marketable equity securities	$ 21,894	160,962
Purchase of non-marketable securities		(23,500)
Net cash provided by investing activities	$ 21,894	$ 137,462
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of convertible unsecured promissory notes	463,560
Proceeds from issuance of notes payable to related parties	14,000
Issuance of common stock from exercise of warrants	22,000
Issuance of common stock for professional and consulting services	$ 250
Issuance of stock from private placement, net of fees		$ 50,000
Repayment of promissory note - related parties		(35,085)
Net cash provided by financing activities	$ 499,810	14,915
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	28,214	(13,484)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	1,369	14,853
CASH AND CASH EQUIVALENTS - END OF PERIOD	$ 29,583	1,369
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS
Cash paid for income taxes		$ 12,000
Cash paid for interest
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Unrealized gain on available-for-sale marketable equity securities		$ (13,036)
Write-off of accounts payable per agreement with vendor		$ 90,000
Reclassification of accumulated other comprehensive income	$ 20,306
Issuance of common stock for exchange of debt	88,573
Issuance of common stock to related party for exchange of debt	242,980
Issuance of common stock to professionals and consultants for services	$ 375,000

NATURE OF OPERATIONS, BASIS OF

NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Apr. 30, 2015
NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES History and Nature of Business and Going Concern Major League football, Inc. (the "Company") was originally incorporated as Universal Capital Management, Inc., a Delaware corporation, on August 16, 2004. On June 5, 2014, we amended our certificate of incorporation to (i) effect a one-for-five (1: 5 150,000,000 50,000,000 0.001 Accordingly, all share and per share amounts included in this Form 10-K for the years ended April 30, 2015 and 2014, have been retroactively adjusted to the beginning of the period to reflect the amendment to the certificate of incorporation for the reverse split. Prior to July 13, 2014, our primary business was to identify and advise in development and market consumer products. Our strategy employed three primary channels: Direct Response Television (Infomercials), Television Shopping Networks and Retail Outlets. We sought to assist and enable entrepreneurs to introduce products to the consumer market. Entrepreneurs could leverage our experience and valuable business contacts in functions such as product selection, marketing development, media buying and direct response television production. Inventors and entrepreneurs submitted products or business concepts for our input and advice. We generated revenues from two primary sources (i) management of the entire business cycle of the consumer product and (ii) sales of consumer products, for which we received a share of net profits of consumer products sold. On July 14, 2014 our Company entered into and closed a definitive Asset Purchase Agreement with Major League Football, LLC, a company formed in 2009, to establish, develop and operate a professional spring/summer football league to be known as “Major League Football” (“MLFB”). Pursuant to the terms of the Asset Purchase Agreement, we issued Major League Football, LLC 8,000,000 On November 12, 2014, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to change its name to Major League Football, Inc. from Universal Capital Management, Inc. The Certificate of Amendment became effective at 5:00 p.m. EST on November 24, 2014. Major League Football, Inc. is seeking to establish, develop and operate Major League Football ("MLFB") as a professional spring football league. Our anticipated launch is March 2016. We intend to fill a void by establishing franchises in cities overlooked by existing professional sports leagues and provide fans with professional football in the NFL off-seasons, which will enable it to take a totally non-adversarial approach towards the National Football League ("NFL"). Our spring and early summer schedule ensures no direct competition with autumn/winter sports, including the 32 9 627 91 142 27 The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying financial statements, the Company had a net loss of $ 3,710,675 1,343,070 14,489,565 1,276,084 In view of these matters, recoverability of any asset amounts shown in the accompanying financial statements is dependent upon the Company's ability to achieve a level of profitability. These matters raise substantial doubt about the Company's ability to continue as a going concern. Since inception, the Company has financed its activities from the sale of equity securities and from loans. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities and convertible debt securities, until such time that funds provided by operations, if ever, are sufficient to fund working capital requirements. The financial statements do not include any adjustments relating to the recoverability or classification of recorded assets and liabilities that might result should the Company be unable to continue as a going concern. Investments The Company invests in various marketable equity instruments and accounts for such investments in accordance with ASC 320 “Investments – Debt and Equity Securities”. Certain securities that the Company may invest in may be determined to be non-marketable. Non-marketable securities where the fair market value is not readily determinable and the Company owns less than 20% of the investee are accounted for at cost pursuant to ASC topic 325-20 “Cost Method Investments “Investments - Equity Method and Joint Ventures”. “Partnerships, Joint Ventures, Limited Liability Entities”. Management determines the appropriate classification of its investments at the time of acquisition and reevaluates such determination at each balance sheet date. Trading securities that the Company may hold are treated in accordance with ASC 320 with any unrealized gains and losses included in earnings. Available-for-sale securities are carried at fair value, with unrealized gains and losses, net of tax, reported as a separate component of stockholders' equity. Investments classified as held-to-maturity are carried at amortized cost. In determining realized gains and losses, which are included in earnings in the period of disposal, the cost of the securities sold is based on the specific identification method. The Company periodically reviews its investments in marketable and non-marketable securities and impairs any securities whose value is considered non-recoverable. The Company's determination of whether a security is other than temporarily impaired incorporates both quantitative and qualitative information. Generally Accepted Accounting Principles (“GAAP”) requires the exercise of judgment in making this assessment for qualitative information, rather than the application of fixed mathematical criteria. The Company considers a number of factors including, but not limited to, the length of time and the extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer, the reason for the decline in fair value, changes in fair value subsequent to the balance sheet date, and other factors specific to the individual investment. The Company's assessment involves a high degree of judgment and accordingly, actual results may differ materially from the Company's estimates and judgments. The Company recorded zero 23,500 Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Although these estimates are based on management's best knowledge of current events and actions the Company may undertake in the future, actual results could differ from the estimates. Significant estimates in the accompanying financial statements include the valuation of securities, valuation of equity based instruments issued for other than cash, and the valuation allowance on deferred tax assets. Concentrations Concentration of Credit Risk Certain financial instruments potentially subject the Company to concentrations of credit risk. These financial instruments consist primarily of cash. At April 30, 2015 and 2014 the Company did not have deposits with a financial institution that exceeded the FDIC deposit insurance coverage. Concentration of Revenues Innovation Industries accounted for 100 Fair Value of Financial Instruments The Company's financial instruments consist of cash, marketable securities, accounts payable and accrued expenses. The carrying values of cash, accounts payable and accrued expenses approximate fair value because of their short maturities. The carrying value of the notes payable approximates fair value since the interest rates associated with the debt approximate the current market interest rates. Revenue Recognition Management Services for Equity Investments The Company recognizes management services revenue for equity investments received as payment in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 505-50-05, Accounting by a Grantee for an Equity Instrument to be Received in Conjunction with Providing Goods or Services All revenue for the Company in the amount of $ 20,000 25,000 Stock Based Compensation The Company accounts for stock based compensation in accordance with FASB ASC 718, Compensation – Share Based Compensation Equity Payments to Non-Employees Income Taxes We account for income taxes in accordance with FASB ASC 740 — Income Taxes — Income Taxes FASB ASC 740 requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the “more-likely-than-not” threshold, the amount recognized in the financial statements is the largest benefit Net Loss per Share of Common Stock Basic net loss per common share (Basic EPS) excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding or issuable during the period. Diluted net loss per share (Diluted EPS) reflects the potential dilution that could occur if stock options or other contracts to issue common stock, such as warrants or convertible notes, were exercised or converted into common stock. Common stock equivalents were not utilized to compute diluted loss per share as their effect would have been anti-dilutive for the year ended April 30, 2015 and 2014, respectively. Therefore, diluted EPS equals basic EPS. At April 30, 2015, there were outstanding stock options to purchase 8,740,000 850,000 Recently Issued Pronouncements In August 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40); Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern". This update requires management of the Company to evaluate whether there is substantial doubt about the Company's ability to continue as a going concern. This update is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company does not expect this standard to have an impact on the Company's financial statements upon adoption. The Company has evaluated other recent accounting pronouncements and their adoption has not had and is not expected to have, a material impact on the Company's financial position or results of operations. Additionally, other new pronouncements issued but not yet effective until after April 30, 2015 are not expected to have a significant effect on the Company's financial position or results of operations.

BUSINESS RISKS AND UNCERTAINTIE

BUSINESS RISKS AND UNCERTAINTIES	12 Months Ended
	Apr. 30, 2015
BUSINESS RISKS AND UNCERTAINTIES [Abstract]
BUSINESS RISKS AND UNCERTAINTIES	NOTE 2 – BUSINESS RISKS AND UNCERTAINTIES Effective July 14, 2014, the Company entered a new a new business structure and business plan as MLFB. The likelihood of our success must be considered in light of the risks frequently encountered by early stage companies. These risks include our potential inability to: • Establish MLFB as a viable sports league; • Establish product sales and marketing capabilities; • Establish and maintain markets for our league and potential products; • Identify, attract, retain and motivate qualified personnel; and • Maintain our reputation and build trust with fans. Accordingly, we cannot assure you that we will achieve or sustain profitability or generate sufficient cash flow from operations to meet our planned capital expenditures, working capital and debt service requirements. Our ability to obtain additional financing from other sources depends on many factors beyond our control, including the state of the capital markets and the prospects for our business. The necessary additional financing may not be available to us or may be available only on terms that would result in further dilution to the current owners of our common stock. Our Company intends on financing its future development activities and its working capital needs largely from the sale of debt and equity securities, until such time that funds provided by operations, if ever, are sufficient to fund working capital requirements.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Apr. 30, 2015
INVESTMENTS [Abstract]
INVESTMENTS	NOTE 3 – INVESTMENTS As described in Note 1, the Company adopted ASC 820-10 on May 1, 2008. ASC 820-10, among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820-10 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 - Observable inputs such as quoted prices in active markets; Level 2 - Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3 - Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. At April 30, 2015, we had no financial assets to be categorized in the fair value hierarchy for ASC 820-10. Available-for-sale marketable equity securities consisted of the following at April 30, 2014: April 30, 2014 Gains in Losses in Accumulated Accumulated Other Other Estimated Amortized Comprehensive Comprehensive Fair Cost Loss Loss Value Current: Common stock $ — $ 105,931 $ (85,625 ) $ 20,306 Total current securities $ — $ 105,931 $ (85,625 ) $ 20,306 Total available-for-sale equity securities $ — $ 105,931 $ (85,625 ) $ 20,306 For the year ended April 30, 2015 and 2014, proceeds from the sales of available-for-sale marketable equity securities were $ 21,894 160,962 21,894 9,035 20,306 zero 23,500

DEBT

DEBT	12 Months Ended
	Apr. 30, 2015
DEBT [Abstract]
DEBT	NOTE 4 – DEBT Convertible notes and notes payable consists of the following: April 30, 2015 2014 Convertible unsecured promissory notes Unsecured convertible promissory notes payable – Interest accrued at 4 9 $ 463,560 $ — Total Convertible unsecured notes $ 463,560 $ — April 30, 2015 2014 Notes payable Promissory notes payable – Principal due and payable on demand. $ — $ 8,000 Promissory note payable. - Interest accrued at 8.0 — 50,000 Promissory note payable - Interest accrued at 5 — 10,000 Total Notes payable $ — $ 68,000 Notes payable, related party Notes payable, related party. Interest accrued at 8.0 $ — $ 133,294 Notes payable, related party. Six $ 14,000 $ — Total Notes payable, related party $ 14,000 $ 133,294 In July 2014, the Company commenced an offering of up to $ 3,000,000 4 9 30 30 1 35 On February 24, 2015 and amended May 29, 2015, the Company provided additional conversion provisions to the holders of the convertible unsecured promissory notes at 4 0.30 1 100 1.00 During the year ended April 30, 2015, the Company had received $ 463,560 10,620 Effective July 14, 2014, the Company granted 1,987,872 331,553 0.05 232,159 1,457,874 170,086 62,073 From February to April 2015, an officer of the Company provided $ 14,000 14,000

INCOME TAXES

INCOME TAXES	12 Months Ended
	Apr. 30, 2015
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 5 – INCOME TAXES The Company utilizes the assets and liability method of accounting for income taxes in accordance with ASC 740-10 and ASC 740-30, Accounting for Income Taxes Under the provisions of ASC 740-10, Accounting for Income Taxes 0 0 2005 2014 The income tax benefit for the years ending April 30, 2015 and 2014 have been included in the accompanying financial statements on the basis of an estimated annual federal and state of Delaware effective rate of 34.0 8.7 39.75 For the Year Ended 2015 2014 Income tax benefit at U.S. Federal Income Tax rate $ 1,261,000 $ 226,000 State income taxes, net of federal benefit 216,000 15,000 Realized gains (losses) 8,000 (12,000 ) Change in valuation allowance (1,485,000 ) (229,000 ) Net Income tax (provision) benefit $ — $ — The components of deferred tax assets (liabilities) are as follows: April 30, 2015 2014 Deferred tax assets: Deferred charges $ 23,000 $ 34,000 Net operating loss carry forward 1,525,000 347,000 Capital loss carry forward 774,000 754,000 Stock-based compensation 1,676,000 1,365,000 Bad debt 218,000 218,000 Adjustment for change in accumulated other comprehensive income 365,000 378,000 Total gross deferred tax assets $ 4,581,000 $ 3,096,000 Less: deferred tax asset valuation allowance (4,304,500 ) (2,819,500 ) Total net deferred tax assets 276,500 276,500 Deferred tax liabilities: Amortization of deferred revenue from warrants $ (276,000 ) $ (276,000 ) Other (500 ) (500 ) Total net deferred tax liabilities $ (276,500 ) $ (276,500 ) Total net deferred taxes $ — $ — In assessing the recoverability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The valuation allowance has been increased by $ 1,485,000 3,838,000 1,947,000 2035 2005 and beyond remain subject to examination by the IRS because the Company has not filed the tax returns for these years The Company owes the IRS and the State of Delaware for penalties and interest from the tax year ending April 30, 2007 of approximately $ 247,000 110,154

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	12 Months Ended
	Apr. 30, 2015
STOCK BASED COMPENSATION [Abstract]
STOCK BASED COMPENSATION	NOTE 6 – STOCK BASED COMPENSATION Stock Options In May 8, 2006, the Company approved the 2006 Equity Incentive Plan ("2006 Plan") for the benefit of our directors, officers, employees and consultants, and which reserved 400,000 10 40,000 On July 14, 2014, the Company's board of directors approved the 2014 Employee Stock Plan ("2014 Plan") and authorized 10,000,000 10 Effective July 14, 2014, the Company granted 4,150,000 0.05 Of the 4,150,000 stock options, 1,100,000 3,050,000 three four The 1,100,000 stock options that vested immediately on the grant date of July 14, 2014 were valued at $ 55,000 300,000 800,000 The remaining 3,050,000 1,050,000 2,000,000 157,942 The Company used the following assumptions in the calculation: Stock Price (re-measurement date of April 30, 2015) $ 0.27 Exercise Price $ 0.05 Expected Remaining Term 9.21 Volatility 436 % Annual Rate of Quarterly Dividends 0.00 % Risk Free Interest Rate 0.11 % On February 24, 2015, pursuant to the terms of the 2014 Employee Stock Plan the Company issued to its employees, options to purchase up to 2,900,000 0.30 4 580,000 3,000,000 0.30 two 250,000 2,750,000 343,750 As a result, a total of 5,900,000 830,000 5,070,000 two four The 830,000 stock options that vested immediately on the grant date were valued at $ 390,100 The remaining 5,070,000 2,382,900 157,820 The Company used the following assumptions in the calculation: Stock Price (grant date) $ 0.47 Exercise Price $ 0.30 Expected Remaining Term 5 Volatility 246 % Annual Rate of Quarterly Dividends 0.00 % Risk Free Interest Rate 0.11 % The following tables summarize all employee and consultant stock option activity of the Company since April 30, 2014: Employee and Consultant Stock Options Outstanding Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Shares Price Life (Years) Value Outstanding, April 30, 2014 – all related to 2006 Plan 40,000 $ 1.00 4.82 $ — Issued July 14, 2014 under 2014 Plan 4,150,000 $ 0.05 9.40 $ 616,000 Issued February 24, 2015 under 2014 Plan 5,900,000 $ 0.30 9.83 $ — Exercised under 2014 Plan (300,000 ) $ 0.05 — $ — Canceled under 2014 Plan (1,050,000 ) $ 0.05 — $ — Outstanding, April 30, 2015 8,740,000 $ 0.06 9.60 $ 616,000 Stock Warrants Effective July 14, 2014, the Company granted 2,000,000 0.01 one 81,624 The Company used the following assumptions in the calculation: Stock Price (grant date) $ 0.05 Exercise Price $ 0.01 Expected Remaining Term 0.5 Volatility 161 % Annual Rate of Quarterly Dividends 0.00 % Risk Free Interest Rate 0.11 % On January 1, 2015 the Company executed a rescission agreement with the Consultant terminating the consulting agreement and canceling the warrant issuance, effective retroactively to July 14, 2014. Therefore, the Company has reversed $ 24,376 On February 24, 2015, the Company issued to certain of its consultants and professional service providers warrants to purchase up to 1,550,000 0.01 The Company evaluated the stock warrants in accordance with ASC 505-50, Stock Compensation – Equity Based Payments to Non-Employees, and utilized the Black Scholes method to determine valuation. As a result of our analysis, the total value for the stock warrant issuance on the grant date of February 24, 2015 was $ 724,629 In March and April 2015, 700,000 1,550,000 850,000 The Company used the following assumptions in the calculation: Stock Price (grant date) $ 0.47 Exercise Price $ 0.01 Expected Remaining Term 5 Volatility 246 % Annual Rate of Quarterly Dividends 0.00 % Risk Free Interest Rate 0.11 % The following tables summarize all consultant stock warrant activity of the Company since April 30, 2014: Consultant Stock Warrants Outstanding Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Shares Price Life (Years) Value Outstanding, April 30, 2014 — $ — — $ — Issued July 14, 2014 2,000,000 $ 0.01 — — Issued February 24, 2015 1,550,000 $ 0.01 4.82 $ 221,000 Canceled January 1, 2015 (2,000,000 ) $ 0.01 — — Exercised March 13 and April 23, 2015 (700,000 ) $ 0.01 — — Outstanding April 30, 2015 850,000 $ 0.01 4.82 $ 221,000

CAPITAL SHARE TRANSACTIONS

CAPITAL SHARE TRANSACTIONS	12 Months Ended
	Apr. 30, 2015
CAPITAL SHARE TRANSACTIONS [Abstract]
CAPITAL SHARE TRANSACTIONS	NOTE 7 – CAPITAL SHARE TRANSACTIONS Capital Structure The Company is authorized to issue up to 150,000,000 0.001 33,450,009 7,000,000 four 7,000,000 2,000,000 Common Stock Issued On July 14, 2014 the Company entered into and closed a definitive Asset Purchase Agreement with MLFB and pursuant to the terms of the Asset Purchase Agreement, the Company issued MLFB 8,000,000 8,000,000 0.05 400,000 400,000 On July 14, 2014, the Company granted 19,000,000 19,000,000 12,000,000 7,000,000 4 12,000,000 0.05 600,000 7,000,000 0.05 350,000 On July 14, 2014, the Company granted 2,649,642 0.01 0.05 132,482 2,649,642 100,000 166,129 On July 14, 2014, the Company granted 1,987,872 331,553 0.05 232,159 1,987,872 1,457,874 170,086 62,073 On July 14, 2014, the Company granted 1,000,000 0.05 50,000 Effective November 28, 2014, the Company engaged an investor relations firm as a consultant to provide services related to shareholder information and public relations. The term of the agreement is for six ( 6 250,000 2,500 0.90 225,000 225,000 6 187,500 37,500 Effective January 28, 2015, a consultant with vested stock options granted under the 2014 Plan exercised 300,000 0.05 15,000 Effective March 13, 2015 and April 23, 2015, two 700,000 7,000 Effective March 23, 2015, the Company engaged a consultant to provide services primarily related to strategic planning, business development and strategic advisory services. The term of the agreement is two ( 2 500,000 0.30 150,000 150,000 two 8,014 141,986 75,000 66,986

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Apr. 30, 2015
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 8 – RELATED PARTY TRANSACTIONS On July 14, 2014, the Company granted 1,457,874 242,980 0.05 170,086 During the year ended April 30, 2015, the Company recorded $ 245,000 240,000 From February to April 2015, an officer of the Company provided $ 14,000 14,000 During August 2014 to December 2014, the Company paid Sully Executive Services, a company owned and operated by an officer of the Company, a total of $ 71,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Apr. 30, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9 – COMMITMENTS AND CONTINGENCIES Stradley Ronon Stevens & Young, LLP On May 9, 2009, Stradley filed a lawsuit against the Company in the U.S. District Court for the District of Delaware for failure of the Company to pay legal fees owed in the amount of $ 166,129 166,129 80,000 100,000 Unpaid Taxes and Penalties At April 30, 2015, the Company owed the State of Delaware $ 110,154 247,000 Effective November 24, 2014, the Company engaged an investment banking firm as a consultant relating to assisting with the financial requirements to implement the Company's new business strategy and business plan. Upon the execution of the agreement, the Company paid the consultant a $ 25,000 8 8 5 12

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Apr. 30, 2015
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS Through the date of these financial statements, the Company received an additional $ 18,000 481,560 In May 2015, the Company cancelled 10,000 In July 2015, the Company received an additional $ 1,000 15,000 In July 2015, the Company received $ 20,000 25,000 20,000 5,000

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Apr. 30, 2015
COMPREHENSIVE INCOME (LOSS) [Abstract]
COMPREHENSIVE INCOME (LOSS)	NOTE 11 – COMPREHENSIVE INCOME (LOSS) The following reflects the changes in Accumulated Other Comprehensive Income (Loss) for the years ended April 30, 2015 and 2014, respectively: Unrealized Gains and Losses on Available-For-Sale Securities Balance at April 30, 2013 $ 33,342 Other comprehensive loss before reclassifications (13,036 ) Amounts reclassified from accumulated other comprehensive income — Net current period other comprehensive loss (13,036 ) Balance at April 30, 2014 $ 20,306 Other comprehensive loss before reclassifications — Amounts reclassified from accumulated other comprehensive income (20,306 ) Net current period other comprehensive loss $ (20,306 ) Balance at April 30, 2015 $ —

NATURE OF OPERATIONS, BASIS O19

NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Apr. 30, 2015
NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Investments	Investments The Company invests in various marketable equity instruments and accounts for such investments in accordance with ASC 320 “Investments – Debt and Equity Securities”. Certain securities that the Company may invest in may be determined to be non-marketable. Non-marketable securities where the fair market value is not readily determinable and the Company owns less than 20% of the investee are accounted for at cost pursuant to ASC topic 325-20 “Cost Method Investments “Investments - Equity Method and Joint Ventures”. “Partnerships, Joint Ventures, Limited Liability Entities”. Management determines the appropriate classification of its investments at the time of acquisition and reevaluates such determination at each balance sheet date. Trading securities that the Company may hold are treated in accordance with ASC 320 with any unrealized gains and losses included in earnings. Available-for-sale securities are carried at fair value, with unrealized gains and losses, net of tax, reported as a separate component of stockholders' equity. Investments classified as held-to-maturity are carried at amortized cost. In determining realized gains and losses, which are included in earnings in the period of disposal, the cost of the securities sold is based on the specific identification method. The Company periodically reviews its investments in marketable and non-marketable securities and impairs any securities whose value is considered non-recoverable. The Company's determination of whether a security is other than temporarily impaired incorporates both quantitative and qualitative information. Generally Accepted Accounting Principles (“GAAP”) requires the exercise of judgment in making this assessment for qualitative information, rather than the application of fixed mathematical criteria. The Company considers a number of factors including, but not limited to, the length of time and the extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer, the reason for the decline in fair value, changes in fair value subsequent to the balance sheet date, and other factors specific to the individual investment. The Company's assessment involves a high degree of judgment and accordingly, actual results may differ materially from the Company's estimates and judgments. The Company recorded zero 23,500
Estimates	Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Although these estimates are based on management's best knowledge of current events and actions the Company may undertake in the future, actual results could differ from the estimates. Significant estimates in the accompanying financial statements include the valuation of securities, valuation of equity based instruments issued for other than cash, and the valuation allowance on deferred tax assets.
Concentrations	Concentrations Concentration of Credit Risk Certain financial instruments potentially subject the Company to concentrations of credit risk. These financial instruments consist primarily of cash. At April 30, 2015 and 2014 the Company did not have deposits with a financial institution that exceeded the FDIC deposit insurance coverage. Concentration of Revenues Innovation Industries accounted for 100
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company's financial instruments consist of cash, marketable securities, accounts payable and accrued expenses. The carrying values of cash, accounts payable and accrued expenses approximate fair value because of their short maturities. The carrying value of the notes payable approximates fair value since the interest rates associated with the debt approximate the current market interest rates.
Revenue Recognition	Revenue Recognition Management Services for Equity Investments The Company recognizes management services revenue for equity investments received as payment in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 505-50-05, Accounting by a Grantee for an Equity Instrument to be Received in Conjunction with Providing Goods or Services All revenue for the Company in the amount of $ 20,000 25,000
Stock Based Compensation	Stock Based Compensation The Company accounts for stock based compensation in accordance with FASB ASC 718, Compensation – Share Based Compensation Equity Payments to Non-Employees
Income Taxes	Income Taxes We account for income taxes in accordance with FASB ASC 740 — Income Taxes — Income Taxes FASB ASC 740 requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the “more-likely-than-not” threshold, the amount recognized in the financial statements is the largest benefit
Net Loss per Share of Common Stock	Net Loss per Share of Common Stock Basic net loss per common share (Basic EPS) excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding or issuable during the period. Diluted net loss per share (Diluted EPS) reflects the potential dilution that could occur if stock options or other contracts to issue common stock, such as warrants or convertible notes, were exercised or converted into common stock. Common stock equivalents were not utilized to compute diluted loss per share as their effect would have been anti-dilutive for the year ended April 30, 2015 and 2014, respectively. Therefore, diluted EPS equals basic EPS. At April 30, 2015, there were outstanding stock options to purchase 8,740,000 850,000
Recently Issued Pronouncements	Recently Issued Pronouncements In August 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40); Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern". This update requires management of the Company to evaluate whether there is substantial doubt about the Company's ability to continue as a going concern. This update is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company does not expect this standard to have an impact on the Company's financial statements upon adoption. The Company has evaluated other recent accounting pronouncements and their adoption has not had and is not expected to have, a material impact on the Company's financial position or results of operations. Additionally, other new pronouncements issued but not yet effective until after April 30, 2015 are not expected to have a significant effect on the Company's financial position or results of operations.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Apr. 30, 2015
INVESTMENTS [Abstract]
Schedule of Available-For-Sale Securities	April 30, 2014 Gains in Losses in Accumulated Accumulated Other Other Estimated Amortized Comprehensive Comprehensive Fair Cost Loss Loss Value Current: Common stock $ — $ 105,931 $ (85,625 ) $ 20,306 Total current securities $ — $ 105,931 $ (85,625 ) $ 20,306 Total available-for-sale equity securities $ — $ 105,931 $ (85,625 ) $ 20,306

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Apr. 30, 2015
DEBT [Abstract]
Schedule of Notes Payable	April 30, 2015 2014 Convertible unsecured promissory notes Unsecured convertible promissory notes payable – Interest accrued at 4 9 $ 463,560 $ — Total Convertible unsecured notes $ 463,560 $ — April 30, 2015 2014 Notes payable Promissory notes payable – Principal due and payable on demand. $ — $ 8,000 Promissory note payable. - Interest accrued at 8.0 — 50,000 Promissory note payable - Interest accrued at 5 — 10,000 Total Notes payable $ — $ 68,000 Notes payable, related party Notes payable, related party. Interest accrued at 8.0 $ — $ 133,294 Notes payable, related party. Six $ 14,000 $ — Total Notes payable, related party $ 14,000 $ 133,294

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Apr. 30, 2015
INCOME TAXES [Abstract]
Schedule of Income Tax Benefit for Federal Income Tax Purposes	For the Year Ended 2015 2014 Income tax benefit at U.S. Federal Income Tax rate $ 1,261,000 $ 226,000 State income taxes, net of federal benefit 216,000 15,000 Realized gains (losses) 8,000 (12,000 ) Change in valuation allowance (1,485,000 ) (229,000 ) Net Income tax (provision) benefit $ — $ —
Schedule of Components of Deferred Tax Assets and Liabilities	April 30, 2015 2014 Deferred tax assets: Deferred charges $ 23,000 $ 34,000 Net operating loss carry forward 1,525,000 347,000 Capital loss carry forward 774,000 754,000 Stock-based compensation 1,676,000 1,365,000 Bad debt 218,000 218,000 Adjustment for change in accumulated other comprehensive income 365,000 378,000 Total gross deferred tax assets $ 4,581,000 $ 3,096,000 Less: deferred tax asset valuation allowance (4,304,500 ) (2,819,500 ) Total net deferred tax assets 276,500 276,500 Deferred tax liabilities: Amortization of deferred revenue from warrants $ (276,000 ) $ (276,000 ) Other (500 ) (500 ) Total net deferred tax liabilities $ (276,500 ) $ (276,500 ) Total net deferred taxes $ — $ —

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Apr. 30, 2015
STOCK BASED COMPENSATION [Abstract]
Schedule of Fair Value Assumptions Used to Value Stock Options	Stock Price (re-measurement date of April 30, 2015) $ 0.27 Exercise Price $ 0.05 Expected Remaining Term 9.21 Volatility 436 % Annual Rate of Quarterly Dividends 0.00 % Risk Free Interest Rate 0.11 % Stock Price (grant date) $ 0.47 Exercise Price $ 0.30 Expected Remaining Term 5 Volatility 246 % Annual Rate of Quarterly Dividends 0.00 % Risk Free Interest Rate 0.11 %
Schedule of Stock Option Activity	Employee and Consultant Stock Options Outstanding Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Shares Price Life (Years) Value Outstanding, April 30, 2014 – all related to 2006 Plan 40,000 $ 1.00 4.82 $ — Issued July 14, 2014 under 2014 Plan 4,150,000 $ 0.05 9.40 $ 616,000 Issued February 24, 2015 under 2014 Plan 5,900,000 $ 0.30 9.83 $ — Exercised under 2014 Plan (300,000 ) $ 0.05 — $ — Canceled under 2014 Plan (1,050,000 ) $ 0.05 — $ — Outstanding, April 30, 2015 8,740,000 $ 0.06 9.60 $ 616,000
Schedule of Fair Value Assumptions Used to Value Warrants	Stock Price (grant date) $ 0.05 Exercise Price $ 0.01 Expected Remaining Term 0.5 Volatility 161 % Annual Rate of Quarterly Dividends 0.00 % Risk Free Interest Rate 0.11 % Stock Price (grant date) $ 0.47 Exercise Price $ 0.01 Expected Remaining Term 5 Volatility 246 % Annual Rate of Quarterly Dividends 0.00 % Risk Free Interest Rate 0.11 %
Schedule of Warrant Activity	Consultant Stock Warrants Outstanding Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Shares Price Life (Years) Value Outstanding, April 30, 2014 — $ — — $ — Issued July 14, 2014 2,000,000 $ 0.01 — — Issued February 24, 2015 1,550,000 $ 0.01 4.82 $ 221,000 Canceled January 1, 2015 (2,000,000 ) $ 0.01 — — Exercised March 13 and April 23, 2015 (700,000 ) $ 0.01 — — Outstanding April 30, 2015 850,000 $ 0.01 4.82 $ 221,000

COMPREHENSIVE INCOME (LOSS) (Ta

COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Apr. 30, 2015
COMPREHENSIVE INCOME (LOSS) [Abstract]
COMPREHENSIVE INCOME (LOSS)	Unrealized Gains and Losses on Available-For-Sale Securities Balance at April 30, 2013 $ 33,342 Other comprehensive loss before reclassifications (13,036 ) Amounts reclassified from accumulated other comprehensive income — Net current period other comprehensive loss (13,036 ) Balance at April 30, 2014 $ 20,306 Other comprehensive loss before reclassifications — Amounts reclassified from accumulated other comprehensive income (20,306 ) Net current period other comprehensive loss $ (20,306 ) Balance at April 30, 2015 $ —

NATURE OF OPERATIONS, BASIS O25

NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jul. 14, 2014shares	Jun. 05, 2014	Apr. 30, 2015USD ($)$ / sharesshares	Apr. 30, 2014USD ($)$ / sharesshares	Apr. 30, 2013USD ($)
NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Stock split ratio		0.2
Common stock, shares authorized | shares			150,000,000	150,000,000
Preferred stock, shares authorized | shares			50,000,000	50,000,000
Preferred stock, par value | $ / shares			$ 0.001	$ 0.001
Stock issued in exchange for assets of Major League Football, LLC, shares | shares	8,000,000
Net loss			$ 3,710,675	$ 667,236
Working capital deficit			(1,343,070)
Accumulated deficiency			14,489,565	10,778,890
Stockholders' deficiency			$ 1,276,084	894,336	$ 1,107,814
Loss on impairment of non-marketable equity securities				23,500
Concentration Risk [Line Items]
Management services revenue			$ 20,000	$ 25,000
Net sales [Member] | Innovation Industries [Member]
Concentration Risk [Line Items]
Concentration percentage			100.00%	100.00%
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities | shares			8,740,000
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities | shares			850,000

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Schedule of Investments [Line Items]
Amortized Cost
Gains in Accumulated Other Comprehensive Loss		$ 105,931
Losses in Accumulated Other Comprehensive Loss		(85,625)
Estimated Fair Value		20,306
Proceeds from sale of available-for-sale marketable equity securities	$ 21,894	160,962
Realized gain (loss) on sale of available-for-sale marketable equity securities	$ 21,894	(9,035)
Unrealized gain (loss) on available-for-sale marketable equity securities		20,306
Loss on impairment of non-marketable equity securities		$ 23,500
Common stock [Member]
Schedule of Investments [Line Items]
Amortized Cost
Gains in Accumulated Other Comprehensive Loss		$ 105,931
Losses in Accumulated Other Comprehensive Loss		(85,625)
Estimated Fair Value		$ 20,306
Total current securities [Member]
Schedule of Investments [Line Items]
Amortized Cost
Gains in Accumulated Other Comprehensive Loss		$ 105,931
Losses in Accumulated Other Comprehensive Loss		(85,625)
Estimated Fair Value		$ 20,306

DEBT (Details)

DEBT (Details) - USD ($)	Jul. 14, 2014	Jul. 31, 2014	Apr. 30, 2015	Apr. 30, 2015	Apr. 30, 2014
Debt Instrument [Line Items]
Convertible unsecured promissory notes			$ 463,560	$ 463,560
Notes payable					$ 68,000
Notes payable, related parties			$ 14,000	$ 14,000	$ 133,294
Issuance of common stock for exchange of debt - $0.05 per share, shares	1,987,872
Amount of debt extinguished	$ 331,553
Quoted trade price of company's stock used in valuing equity issuance	$ 0.05
Gain on issuance of common stock in settlement of debt	$ 62,073			62,073
Aggregate gain on exchange of stock for debt	$ 232,159
Proceeds from issuance of convertible unsecured promissory notes				463,560
Proceeds from issuance of notes payable to related parties			14,000	14,000
Management [Member]
Debt Instrument [Line Items]
Issuance of common stock for exchange of debt - $0.05 per share, shares	1,457,874
Portion of cancellation of debt recognized as an adjustment to additional paid in capital	$ 170,086
Convertible Unsecured Promissory Notes [Member]
Debt Instrument [Line Items]
Convertible unsecured promissory notes			$ 463,560	$ 463,560
Debt instrument, term		9 months
Debt instrument, interest rate			4.00%	4.00%
Discount rate percentage on convertible debt		30.00%
Debt instrument, conversion price (dollars per share)			$ 0.30	$ 0.30
Warrant exercise price			$ 1	$ 1
Term of warrant				1 year
Accrued interest			$ 10,620	$ 10,620
Convertible Unsecured Promissory Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 3,000,000	$ 3,000,000
Promissory notes payable - one [Member]
Debt Instrument [Line Items]
Notes payable					$ 8,000
Promissory notes payable - two [Member]
Debt Instrument [Line Items]
Notes payable					50,000
Debt instrument, interest rate			8.00%	8.00%
Promissory notes payable - three [Member]
Debt Instrument [Line Items]
Notes payable					10,000
Debt instrument, interest rate			5.00%	5.00%
Notes Payable Related Party - one [Member]
Debt Instrument [Line Items]
Notes payable, related parties					$ 133,294
Debt instrument, interest rate			8.00%	8.00%
Notes Payable Related Party - two [Member]
Debt Instrument [Line Items]
Notes payable, related parties			$ 14,000	$ 14,000

INCOME TAXES (Schedule of the R

INCOME TAXES (Schedule of the Reconciliation of the Effective Income Tax Rate) (Details) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
INCOME TAXES [Abstract]
Income taxes at U.S. Federal Income Tax rate	$ 1,261,000	$ 226,000
State income taxes, net of federal benefit	216,000	15,000
Realized gains (losses)	8,000	(12,000)
Change in Valuation Allowance	$ (1,485,000)	$ (229,000)
Net Income tax (provision) benefit

INCOME TAXES (Schedule of Defer

INCOME TAXES (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($)	Apr. 30, 2015	Apr. 30, 2014
Deferred tax assets:
Deferred charges	$ 23,000	$ 34,000
Net operating loss carry forward	1,525,000	347,000
Capital loss carry forward	774,000	754,000
Stock-based compensation	1,676,000	1,365,000
Bad debt	218,000	218,000
Adjustment for change in accumulated other comprehensive income	365,000	378,000
Total gross deferred tax assets	4,581,000	3,096,000
Valuation allowance	(4,304,500)	(2,819,500)
Total net deferred tax assets	276,500	276,500
Deferred tax liabilities:
Amortization of deferred revenue from warrants	(276,000)	(276,000)
Other	(500)	(500)
Total net deferred tax liabilities	$ (276,500)	$ (276,500)
Total net deferred taxes

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
INCOME TAXES [Abstract]
Unrecognized tax provisions interest and penalties	$ 0
Accrued income taxes	$ 0
Federal effective tax rate	34.00%
State effective tax rate	8.70%
Blended effective tax rate	39.75%
Change in valuation allowance	$ 1,485,000
Net operating loss carry-forwards	$ 3,838,000
Capital loss carry-forwards expiration dates	Dec. 31, 2035
Capital loss carryforward	$ 1,947,000
Accrual for taxes, penalties and interest owed to IRS and the State of Delaware from the tax year ending April 30, 2007	247,000
State income taxes payable	$ 110,154	$ 109,654
Earliest Tax Year [Member]
Income Tax Examination [Line Items]
Years under examination	2,005
Open Tax Year	2,005
Latest Tax Year [Member]
Income Tax Examination [Line Items]
Years under examination	2,014

STOCK BASED COMPENSATION (Stock

STOCK BASED COMPENSATION (Stock Options Narrative) (Details) - Equity Award [Domain] - USD ($)	Feb. 24, 2015	Jul. 14, 2014	Jan. 31, 2015	Dec. 31, 2014	Apr. 30, 2015	Apr. 30, 2015	Apr. 30, 2015	Apr. 30, 2014	Nov. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding					8,740,000	8,740,000	8,740,000	40,000
Stock options granted	5,900,000	4,150,000
Share-based compensation							$ 782,482	$ 753,750
Option exercised							300,000
Option cancelled							1,050,000
Exercise price	$ 0.30	$ 0.05
2006 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under plan					400,000	400,000	400,000
Award expiration period							10 years
2014 Employee Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under plan					10,000,000	10,000,000	10,000,000
Award expiration period							10 years
Stock options granted		1,000,000
Share-based compensation		$ 50,000
2014 Employee Stock Plan [Member] | July 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted		4,150,000
Option exercised			300,000
Exercise price		$ 0.05
2014 Employee Stock Plan [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	5,900,000
2014 Employee Stock Plan [Member] | Vest Immediately [Member] | July 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted		1,100,000
Share-based compensation		$ 55,000
2014 Employee Stock Plan [Member] | Vest Immediately [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	830,000
Share-based compensation	$ 390,100
2014 Employee Stock Plan [Member] | Vesting over two to four years [Member] | July 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding					800,000	800,000	800,000		3,050,000
Stock options granted		3,050,000					2,000,000
Share-based compensation						$ 157,942
Option cancelled				1,050,000
2014 Employee Stock Plan [Member] | Vesting over two to four years [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding					5,070,000	5,070,000	5,070,000
Stock options granted	5,070,000
Share-based compensation					$ 157,820
Fair value of options					$ 2,382,900	$ 2,382,900	$ 2,382,900
2014 Employee Stock Plan [Member] | Employees [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	2,900,000
Vesting period	4 years
Exercise price	$ 0.30
2014 Employee Stock Plan [Member] | Employees [Member] | Vest Immediately [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	580,000
2014 Employee Stock Plan [Member] | Chief Executive Officer [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	3,000,000
Vesting period	2 years
Exercise price	$ 0.30
2014 Employee Stock Plan [Member] | Chief Executive Officer [Member] | Vest Immediately [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	250,000
2014 Employee Stock Plan [Member] | Chief Executive Officer [Member] | Vesting over two to four years [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	2,750,000
2014 Employee Stock Plan [Member] | Chief Executive Officer [Member] | Share-based Compensation Award, Tranche Two [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	343,750
2014 Employee Stock Plan [Member] | Minimum [Member] | Vesting over two to four years [Member] | July 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
2014 Employee Stock Plan [Member] | Minimum [Member] | Vesting over two to four years [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
2014 Employee Stock Plan [Member] | Maximum [Member] | Vesting over two to four years [Member] | July 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
2014 Employee Stock Plan [Member] | Maximum [Member] | Vesting over two to four years [Member] | February 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years

STOCK BASED COMPENSATION (Sched

STOCK BASED COMPENSATION (Schedule of Stock Option Activity) (Details) - USD ($)	Feb. 24, 2015	Jul. 14, 2014	Apr. 30, 2015	Apr. 30, 2014
Number of Shares
Outstanding, beginning			40,000
Issued	5,900,000	4,150,000
Exercised			(300,000)
Cancelled			(1,050,000)
Outstanding, ending			8,740,000	40,000
Weighted Average Exercise Price
Outstanding, beginning			$ 1
Issued	$ 0.30	$ 0.05
Exercised			0.05
Cancelled			0.05
Outstanding, ending			$ 0.06	$ 1
Weighted Average Remaining Contractual Life
Outstanding			9 years 7 months 6 days	4 years 9 months 25 days
Issued	9 years 9 months 29 days	9 years 4 months 24 days
Aggregate intrinsic value, outstanding
Issued		$ 616,000
Aggregate intrinsic value, outstanding			$ 616,000

STOCK BASED COMPENSATION (Sto33

STOCK BASED COMPENSATION (Stock Warrants) (Details) - USD ($)	Feb. 24, 2015	Jul. 14, 2014	Jan. 31, 2015	Apr. 30, 2015	Apr. 30, 2014
Weighted Average Exercise Price
Cancelled				$ 0.05
Warrant [Member]
Number of Shares
Outstanding, beginning
Issued	1,550,000	2,000,000
Cancelled				(2,000,000)
Exercised				(700,000)
Outstanding, ending				850,000
Weighted Average Exercise Price
Outstanding, beginning
Issued	$ 0.01	$ 0.01
Cancelled				$ 0.01
Exercised				0.01
Outstanding, ending				$ 0.01
Weighted Average Remaining Contractual Life
Weighted-average remaining contractual life outstanding				4 years 9 months 25 days
Weighted-average remaining contractual life issued during period	4 years 9 months 25 days
Aggregate intrinsic value, beginning
Issued	$ 221,000
Aggregate intrinsic value, ending				$ 221,000
Fair value of stock warrants issued on grant date	$ 724,629	$ 81,624
Reversal of share based compensation expense			$ 24,376
Award expiration period		1 year

STOCK BASED COMPENSATION (Sch34

STOCK BASED COMPENSATION (Schedule of Valuation Assumptions Used to Value Stock Options and Warrants) (Details) - $ / shares	Feb. 24, 2015	Jul. 14, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Price (grant date)		$ 0.05
Exercise price	$ 0.30	0.05
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Price (grant date)	0.47	0.27
Exercise price	$ 0.30	$ 0.05
Expected Term	5 years	9 years 2 months 16 days
Volatility	246.00%	436.00%
Annual Rate of Quarterly Dividends	0.00%	0.00%
Risk Free Interest Rate	0.11%	0.11%
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Price (grant date)	$ 0.47	$ 0.05
Exercise price	$ 0.01	$ 0.01
Expected Term	5 years	6 months
Volatility	246.00%	161.00%
Annual Rate of Quarterly Dividends	0.00%	0.00%
Risk Free Interest Rate	0.11%	0.11%

CAPITAL SHARE TRANSACTIONS (Det

CAPITAL SHARE TRANSACTIONS (Details) - USD ($)	Mar. 23, 2015	Feb. 24, 2015	Jan. 28, 2015	Nov. 28, 2014	Jul. 14, 2014	Jul. 12, 2014	Apr. 23, 2015	Apr. 30, 2015	Apr. 30, 2014
Class of Stock [Line Items]
Common stock, shares authorized								150,000,000	150,000,000
Common stock, par value								$ 0.001	$ 0.001
Common stock, shares issued								33,450,009	6,062,495
Common stock, shares outstanding								33,450,009	6,062,495
Number of shares of unvested common stock to be issued to employees over the vesting period of four years through July 14, 2018								7,000,000
Number of shares of unvested common stock to be issued to employees over the vesting period of four years through July 14, 2018 having voting rights								2,000,000
Stock based compensation expense								$ 782,482	$ 753,750
Stock issued in exchange for debt					1,987,872
Gain on exchange of debt, portion recognized on statement of operations					$ 62,073			62,073
Aggregate gain on exchange of stock for debt					$ 232,159
Stock options granted		5,900,000			4,150,000
Stock issued in exchange for assets of Major League Football, LLC, shares					8,000,000
Quoted trade price of company's stock used in valuing equity issuance					$ 0.05
Amount of debt extinguished					$ 331,553
Value of stock issued in exchange for assets of Major League Football, LLC					$ 400,000
Issuance of common stock for employee services - $0.05 per share								600,000
Value of common stock to consultant for professional services								375,000
Amortization of prepaid consulting over service period								$ 195,514
Option exercised								300,000
Prepaid Expense Other, Noncurrent								$ 66,986
Stock Issued During Period, Value, Conversion of Convertible Securities								7,000
Law Firm Having Consent Of Judgement Against Company [Member] | Pending Litigation [Member]
Class of Stock [Line Items]
Stock issued as compensation for service, shares					100,000	80,000
Damages awarded in litigation matter from Consent of Judgement					$ 166,129
Warrant [Member]
Class of Stock [Line Items]
Quoted trade price of company's stock used in valuing equity issuance		$ 0.47			$ 0.05
Stock Options [Member]
Class of Stock [Line Items]
Quoted trade price of company's stock used in valuing equity issuance		$ 0.47			$ 0.27
2014 Employee Stock Plan [Member]
Class of Stock [Line Items]
Stock based compensation expense					$ 50,000
Stock options granted					1,000,000
Consultant [Member]
Class of Stock [Line Items]
Quoted trade price of company's stock used in valuing equity issuance				$ 0.90
Value of common stock to consultant for professional services				$ 225,000
Amortization of prepaid consulting over service period								187,500
Prepaid Expense								37,500
Stock Issued During Period, Value, Conversion of Convertible Securities							$ 7,000
Stock Issued During Period, Shares, Conversion of Convertible Securities							700,000
Consultant [Member] | Stock Options [Member]
Class of Stock [Line Items]
Stock issued as compensation for service, shares				250,000
Monthly fees payable to consultant				$ 2,500
Term of agreement with investor relations firm as a consultant				6 months
Consultant [Member] | 2014 Employee Stock Plan [Member] | Stock Options [Member]
Class of Stock [Line Items]
Quoted trade price of company's stock used in valuing equity issuance			$ 0.05
Issuance of common stock for employee services - $0.05 per share			$ 15,000
Option exercised			300,000
Professionals And Employees [Member]
Class of Stock [Line Items]
Stock based compensation expense					$ 132,482
Equity issuance, price per share					$ 0.01
Stock issued as compensation for service, shares					2,649,642
Quoted trade price of company's stock used in valuing equity issuance					$ 0.05
March Consultant [Member]
Class of Stock [Line Items]
Stock issued as compensation for service, shares	500,000
Quoted trade price of company's stock used in valuing equity issuance	$ 0.30
Term of agreement with investor relations firm as a consultant	2 years
Value of common stock to consultant for professional services	$ 150,000
Amortization of prepaid consulting over service period								8,014
Prepaid Expense								141,986
Other Prepaid Expense, Current								75,000
Prepaid Expense Other, Noncurrent								$ 66,986
Management [Member]
Class of Stock [Line Items]
Common stock issued as share based compensation					19,000,000
Stock issued in exchange for debt					1,457,874
Portion of cancellation of debt recognized as an adjustment to additional paid in capital					$ 170,086
Management [Member] | Vest Immediately [Member]
Class of Stock [Line Items]
Stock based compensation expense					$ 600,000
Stock issued as compensation for service, shares					12,000,000
Management [Member] | Vesting in Equal Installments Over 4 Year Employement Period [Member]
Class of Stock [Line Items]
Stock issued as compensation for service, shares					7,000,000
Unamortized compensation costs					$ 350,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Jul. 14, 2014	Apr. 30, 2015	Dec. 31, 2014	Apr. 30, 2015	Apr. 30, 2014
Related Party Transaction [Line Items]
Issuance of common stock for exchange of debt - $0.05 per share, shares	1,987,872
Issuance of common stock to related party for exchange of debt	$ 242,980			$ 242,980
Quoted trade price of company's stock used in valuing equity issuance	$ 0.05
Proceeds from issuance of notes payable to related parties		$ 14,000		14,000
Notes payable - related parties		14,000		14,000
Management [Member]
Related Party Transaction [Line Items]
Issuance of common stock for exchange of debt - $0.05 per share, shares	1,457,874
Portion of cancellation of debt recognized as an adjustment to additional paid in capital	$ 170,086
Officers' compensation expense				245,000
Accrued officers' compensation		$ 240,000		$ 240,000
Sully Executive Services [Member]
Related Party Transaction [Line Items]
Amount of transaction			$ 71,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Nov. 24, 2014	Jul. 14, 2014	Jul. 12, 2014	Apr. 30, 2015	Apr. 30, 2014
COMMITMENTS AND CONTINGENCIES [Abstract]
State income taxes payable				$ 110,154	$ 109,654
Accrual for taxes, penalties and interest owed to IRS and the State of Delaware from the tax year ending April 30, 2007				$ 247,000
Legal Matters and Contingencies [Line Items]
Cash retainer paid to consultant upon the execution of the agreement	$ 25,000
Cash fees payment to the consultant as percentage of any equity financing received by the Company	8.00%
Common stock, par value				$ 0.001	$ 0.001
Warrant to purchase common stock to be issued to the consultant as percentage of any equity or debt securities issued by the Company	8.00%
Exercise period of warrants	5 years
Term of agreement with investment banking firm engaged as a consultant	12 months
Law Firm Having Consent of Judgement Against Company [Member] | Pending Litigation [Member]
Legal Matters and Contingencies [Line Items]
Damages awarded in litigation matter from Consent of Judgement		$ 166,129
Stock issued as compensation for service, shares		100,000	80,000

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details) - Long-term Debt, Type [Domain] - USD ($)	1 Months Ended		3 Months Ended		12 Months Ended
	Jul. 31, 2015	May. 31, 2015	Jul. 29, 2015	Apr. 30, 2015	Apr. 30, 2015	Apr. 30, 2014
Subsequent Event [Line Items]
Proceeds from issuance of convertible unsecured promissory notes					$ 463,560
Proceeds from related party				$ 14,000	14,000
Notes payable, related parties				$ 14,000	$ 14,000	$ 133,294
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from issuance of convertible unsecured promissory notes			$ 18,000
Convertible notes			$ 481,560
Number of shares cancelled		10,000
Proceeds from short term loan	$ 20,000
Proceeds from related party	1,000
Interest fee	5,000
Notes payable, related parties	15,000
Amount of principal and interest to be repaid	$ 25,000

COMPREHENSIVE INCOME (LOSS) (De

COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (894,336)	$ (1,107,814)
Amounts reclassified from accumulated other comprehensive income	(20,306)
Balance	(1,276,084)	(894,336)
Unrealized Gains and Losses on Available-For-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 20,306	33,342
Other comprehensive loss before reclassifications		$ (13,036)
Amounts reclassified from accumulated other comprehensive income	$ (20,306)
Net current period other comprehensive loss	$ (20,306)	$ (13,036)
Balance		$ 20,306