Netcapital (NCPL) 10-K 5 Aug 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Apr. 30, 2019	Aug. 05, 2019	Oct. 31, 2018
Document And Entity Information
Entity Registrant Name	ValueSetters Inc.
Entity Central Index Key	0001414767
Document Type	10-K
Document Period End Date	Apr. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		755,331,712
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity Interactive Data Current	Yes
Entity's Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 456,965

Balance Sheets

Balance Sheets - USD ($)	Apr. 30, 2019	Apr. 30, 2018
Current assets:
Cash and cash equivalents	$ 19,110	$ 1,655
Accounts receivable, net of allowance for doubtful accounts of $6,750 in 2019	6,000	6,750
Contract assets	15,000
Prepaid expenses	25,699	35,000
Total current assets	65,809	43,405
Deposits	6,300	6,300
Non-current prepaid expenses		25,700
Investments at cost	647,317	23,000
Total assets	719,426	98,405
Current liabilities:
Accounts payable - Trade	278,752	278,987
Accounts payable - Related party	16,680	16,680
Accrued expenses	131,155	141,467
Deferred revenue - current	15,711	885
Notes payable - related parties	76,100	76,100
Loan payable - bank	34,324	37,487
Interest payable – related party	24,102	7,990
Demand notes payable	7,860	22,800
Total current liabilities	584,684	582,396
Long-term secured note payable to related party	1,000,000	1,000,000
Total liabilities	1,584,684	1,582,396
Commitments and Contingencies
Stockholders' deficit:
Common stock, $.001 par value; 900,000,000 shares authorized, 752,519,212 and 731,694,210 shares issued and outstanding in 2019 and 2018, respectively	752,519	731,694
Capital in excess of par value	1,449,356	1,434,328
Accumulated deficit	(3,067,133)	(3,650,013)
Total stockholders' deficit	(865,258)	(1,483,991)
Total liabilities and stockholders' deficit	$ 719,426	$ 98,405

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Apr. 30, 2019	Apr. 30, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ .001	$ .001
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	752,519,212	731,694,210
Common stock, shares outstanding	752,519,212	731,694,210
Allowance for doubtful accounts	$ 6,750

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Income Statement [Abstract]
Revenues	$ 1,013,612	$ 111,171
Costs of revenues	25,198	23,885
Gross Profit	988,414	87,286
Cost and expenses:
Consulting fees	168,300	32,760
Marketing	18,518	9,160
Rent	51,038	40,465
Bad debt provision	6,750
General and administrative	54,222	66,752
Stock-based compensation	65,153	130,203
Total costs and expenses	363,981	279,340
Income / (loss) from operations	624,433	(192,054)
Other income (expense)
Interest expense	(19,408)	(69,490)
Gain on debt conversion		385,823
Impairment loss	(23,000)
Other income	4,600	6,850
Total other income (expense)	(37,808)	323,183
Net income before taxes	586,625	131,129
Income tax	3,745
Net income	$ 582,880	$ 131,129
Basic and diluted earnings (loss) per share	$ 0	$ 0
Weighted average number of shares outstanding	741,721,963	637,660,247

Shareholders Equity

Shareholders Equity - USD ($)	Common Stock [Member]	Capital in Excess of Par Value [Member]	Accumulated Deficit [Member]	Total
Beginning balance at Apr. 30, 2017	$ 530,000	$ 660,439	$ (3,781,142)	$ (2,590,703)
Beginning balance (in shares) at Apr. 30, 2017	530,000,000
Net loss			131,129	131,129
Stock issued for debt settlement	$ 153,277	624,827		778,104
Stock issued for debt settlement (in shares)	153,277,542
Stock issued to purchase investments	$ 10,000	13,000		23,000
Stock issued to purchase investments (in shares)	10,000,000
Stock-based compensation	$ 38,417	136,062		174,479
Stock-based compensation (in shares)	38,416,668
Balance at Apr. 30, 2018	$ 731,694	1,434,328	(3,650,013)	(1,483,991)
Balance (in shares) at Apr. 30, 2018	731,694,210
Net loss			582,880	582,880
Sale of common stock	$ 2,800	2,200		5,000
Sale of common stock (in shares)	2,800,000
Stock issued to purchase investments	$ 200	500		700
Stock issued to purchase investments (in shares)	200,000
Stock-based compensation	$ 17,825	12,328		30,153
Stock-based compensation (in shares)	17,825,002
Balance at Apr. 30, 2019	$ 752,519	$ 1,449,356	$ (3,067,133)	$ (865,258)
Balance (in shares) at Apr. 30, 2019	752,519,212

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Operating activities
Net income loss	$ 582,880	$ 131,129
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	65,153	130,203
Depreciation
Impairment of fixed assets	23,000
Gain on debt settlement		(385,823)
Provision for bad debts	6,750
Changes in non-cash working capital balances
Accounts receivable	(6,000)	(6,750)
Investments	(647,317)
Contract receivable	(280,683)
Other assets		(6,300)
Accounts payable	(235)	(21,232)
Interest payable – related party	16,112
Accrued expenses	(9,611)	109,265
Deferred revenue	280,509	(648)
Cash provided by (used in) operating activities	30,558	(50,156)
Financing activities
Payments on bank loan	(3,163)	(2,620)
Payment on demand note	(14,940)	(500)
Payments on related party notes		(100)
Proceeds from sale of common stock	5,000
Proceeds from demand note payable		21,700
Proceeds from note payable - related party		15,900
Proceeds from note payable - secured related party		14,107
Cash provided by (used in) financing activities	(13,103)	48,487
Increase (decrease) in cash and cash equivalents during the period	17,455	(1,669)
Cash and cash equivalents, beginning of the period	1,655	17,455
Cash and cash equivalents, end of the period	19,110	1,655
Cash paid for:
Interest	6,125	2,592
Income taxes

Description of Business and Sum

Description of Business and Summary of Accounting Principles	12 Months Ended
	Apr. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Accounting Principles	1. Description of Business and Summary of Accounting Principles Description of Business and Concentrations ValueSetters, Inc. (“ValueSetters,” “we,” “our,” or the “Company”) is a provider of consulting services, subscription services, advertising and digital goods using technology distribution platforms like the Internet and mobile devices in the media and entertainment markets. The financial statements are presented in United States dollars and have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s fiscal year end is April 30. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary after elimination of significant intercompany balances and transactions. The operations of a 100% owned subsidiary, AthenaSoft Inc., a Delaware corporation, are included beginning on October 20, 2017, the day of its formation by the Company. Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. A valuation allowance has been established to eliminate the Company’s deferred tax assets as it is more likely than not that none of the deferred tax assets will be realized. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon settlement with the tax authorities. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in income tax expense. The Company has determined that it had no significant uncertain tax positions requiring recognition or disclosure. Revenue Recognition under ASC 606 The Company adopted ASC 606 for the year ended April 30, 2019 on a modified retrospective basis. The Company had no material contracts outstanding at the prior year-end, and consequently there were no material effects upon adoption or on prior period activity. The Company recognizes service revenue from its consulting contracts and its game website using the five-step model as prescribed by ASC 606: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when or as, the Company satisfies a performance obligation. The Company identifies performance obligations in contracts with customers, which primarily are professional services and subscription services. The transaction price is determined based on the amount the Company expects to be entitled to receive in exchange for transferring the promised services to the customer. The transaction price in the contract is allocated to each distinct performance obligation in an amount that represents the relative amount of consideration expected to be received in exchange for satisfying each performance obligation. Revenue is recognized when performance obligations are satisfied. The Company usually bills its customers before it provides any services, and begins performing services after the first payment is received. Contracts are typically one year or less. For larger contracts, in addition to the initial payment, the Company may allow for progress payments throughout the term of the contract. Judgments and Estimates The estimation of variable consideration for each performance obligation requires the Company to make subjective judgments. The Company enters into contracts with customers that regularly include promises to transfer multiple services, such as digital marketing, web-based videos, offering statements, and professional services. For arrangements with multiple services, the Company evaluates whether the individual services qualify as distinct performance obligations. In its assessment of whether a service is a distinct performance obligation, the Company determines whether the customer can benefit from the service on its own or with other readily available resources, and whether the service is separately identifiable from other services in the contract. This evaluation requires the Company to assess the nature of each individual service offering and how the services are provided in the context of the contract, including whether the services are significantly integrated, highly interrelated, or significantly modify each other, which may require judgment based on the facts and circumstances of the contract. When agreements involve multiple distinct performance obligations, the Company allocates arrangement consideration to all performance obligations at the inception of an arrangement based on the relative standalone selling prices (SSP) of each performance obligation. Where the Company has standalone sales data for its performance obligations which are indicative of the price at which the Company sells a promised service separately to a customer, such data is used to establish SSP. In instances where standalone sales data is not available for a particular performance obligation, the Company estimates SSP by the use of observable market and cost-based inputs. The Company continues to review the factors used to establish list price and will adjust standalone selling price methodologies as necessary on a prospective basis. Service Revenue Service revenue from subscriptions to the Company's game website is recognized over time on a ratable basis over the contractual subscription term beginning on the date that the platform is made available to the customer. Payments received in advance of subscription services being rendered are recorded as a deferred revenue. Professional services revenue is recognized over time as the services are rendered. Consequently, when an upfront fee does not relate to the transfer of a promised good or service, the fee is an advance payment for future goods or services and the Company does not recognize the fee as revenue until the future services are provided. When a contract with a customer is signed, the Company assesses whether collection of the fees under the arrangement is probable. The Company estimates the amount to reserve for uncollectible amounts based on the aging of the contract balance, current and historical customer trends, and communications with its customers. These reserves are recorded as operating expenses against the contract asset (Accounts Receivable). Contract Assets Contract assets are recorded for those parts of the contract consideration not yet invoiced but for which the performance obligations are completed. The revenue is recognized when the customer receives services. Contract assets are included in other current assets in the consolidated balance sheets and will be recognized during the succeeding twelve-month period . Deferred Revenue Deferred revenues represent billings or payments received in advance of revenue recognition and is recognized upon transfer of control. Balances consist primarily of annual plan subscription services and professional and training services not yet provided as of the balance sheet date. Deferred revenues that will be recognized during the succeeding twelve-month period are recorded as current deferred revenues in the consolidated balance sheets, with the remainder recorded as other non-current liabilities in the consolidated balance sheets. Costs to Obtain a Customer Contract Sales commissions and related expenses are considered incremental and recoverable costs of acquiring customer contracts. These costs are capitalized as other current or non-current assets and amortized on a straight-line basis over the life of the contract, which approximates the benefit period. The benefit period was estimated by taking into consideration the length of customer contracts, technology lifecycle, and other factors. All sales commissions are recorded as consulting fees within the Company's consolidated statement of operations. Remaining Performance Obligations The Company's subscription terms are typically less than one year. All of the Company’s revenues in the years ended April 30, 2019 and 2018, which amounted to $1,013,612 and $111,171, respectively, are considered contract revenues. Contract revenue as of April 30, 2019 and 2018, which has not yet been recognized, amounted to $15,711 and $885, respectively, and is recorded on the balance sheet as deferred revenue. The Company expects to recognize revenue on all of its remaining performance obligations over the next 12 months. Costs of Services Costs of services consist of direct costs that we pay to third parties in order to provide the services that generate revenue. Earnings Per Share Earnings per share is computed by dividing net income by the weighted-average number of shares outstanding. To the extent that stock options and convertible debt are anti-dilutive, they are excluded from the calculation of diluted earnings per share. For 2019 and 2018, the Company had stock options outstanding to purchase 18,000,000 shares of common stock at $0.03 per share, which were not considered in the earnings per share calculation because of their anti-dilutive effect. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. The Company did not have any cash equivalents during fiscal 2019 and 2018. Stock-Based Compensation The Company accounts for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation – Stock Compensation which requires all share-based payments to employees, including the vesting of restricted stock grants to employees, to be recognized in the financial statements based on their fair values. The fair value of the equity instrument is charged directly to compensation expense and credited to common stock and capital in excess of par value during the period during which services are rendered. The Company follows ASC Topic 505-50, formerly EITF 96-18, “Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services,” for common stock issued to consultants and other non-employees. These shares of common stock are issued as compensation for services provided to the Company and are accounted for based upon the fair market value of the common stock. The fair value of the equity instrument is charged directly to compensation expense, or to prepaid expenses in instances where stock was issued under a contractual arrangement to a consultant who agreed to provide services over a period of time. Advertising Expenses Advertising and marketing expenses are recorded separately in the Statements of Operations and are expensed as incurred. Investments Investments are accounted for based upon either the cost of the investment, the fair value of the services provided or the estimated market value of the investment at the time it was acquired, whichever can be more clearly determined. Use of Estimates In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The most significant estimate relates to the accruals for income tax valuation allowance. On a continual basis, management reviews its estimates, utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. Determination of Fair Value Cash and cash equivalents, accounts receivable, and accounts payable In general, carrying amounts approximate fair value because of the short maturity of these instruments. Deferred Revenue Deferred Revenue represents revenues collected but not earned as of the year end. The Company renders services, or rights to use its software, over a specific time period and revenues are recognized as earned as time passes. Debt At April 30, 2019 and 2018, the Company’s secured debt was carried at its face value plus accrued interest. Based on the financial condition of the Company, it is impracticable for the Company to estimate the fair value of its short and long-term debt. The Company has no instruments with significant off balance sheet risk. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02 – “Leases (Topic 842).” Under ASU 2016-02, entities will be required to recognize lease asset and lease liabilities by lessees for those leases classified as operating leases. Among other changes in accounting for leases, a lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. When measuring assets and liabilities arising from a lease, a lessee (and a lessor) should include payments to be made in optional periods only if the lessee is reasonably certain to exercise an option to extend the lease or not to exercise an option to terminate the lease. Similarly, optional payments to purchase the underlying asset should be included in the measurement of lease assets and lease liabilities only if the lessee is reasonably certain to exercise that purchase option. The amendments in ASU 2016-02 will become effective for fiscal years beginning after December 15, 2018, including interim periods with those fiscal years, for public business entities. We are currently evaluating the effect of the adoption of ASU 2016-02 will have on our consolidated results of operations, financial position or cash flows. In June 2018, the FASB issued ASU 2018-7, Compensation-Stock Compensation (Topic 718), which now provides guidance for share-based payments to non-employees, resulting in alignment in accounting for employees and non-employees. The amendment is effective for public companies with fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company estimates the impact of this pronouncement to its consolidated financial statements to be immaterial. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), which makes modifications to disclosure requirements on fair value measurements. The amendment is effective for public companies with fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently assessing the impact of this pronouncement to its consolidated financial statements. In August 2018, the FASB issued 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40), which reduces complexity for the accounting for the accounting for costs of implementing a cloud computing service arrangement. The amendment is effective for public companies with fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently assessing the impact of this pronouncement to its consolidated financial statements. Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.

Going Concern Matters and Reali

Going Concern Matters and Realization of Assets	12 Months Ended
	Apr. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern Matters and Realization of Assets	2. Going Concern Matters and Realization of Assets The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the ordinary course of business. However, except for fiscal 2019, the Company sustained recurring losses from its continuing operations and as of April 30, 2019, had negative working capital of $518,875 and a stockholders’ deficit of $865,258. In addition, the Company may not be able to meet its obligations as they become due and sustain its operations. The Company believes that its existing cash resources are not sufficient to fund its continuing operations, capital expenditures, lease and debt payments and working capital requirements. Accordingly, the management of the Company has concluded that there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date of these financial statements. The Company may not be able to raise sufficient additional debt, equity or other cash on acceptable terms, if at all. Failure to generate sufficient revenues, achieve certain other business plan objectives or raise additional funds could have a material adverse effect on the Company’s results of operations, cash flows and financial position, including its ability to continue as a going concern, and may require it to significantly reduce, reorganize, discontinue or shut down its operations. In view of the matters described above, recoverability of a major portion of the recorded asset amounts shown in the accompanying balance sheet is dependent upon continued operations of the Company which, in turn, is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, and to succeed in its future operations. The 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 its existence. Management’s plans include: 1. Seek to raise debt or equity for working capital purposes and to pay off existing debt balances. With sufficient additional cash available to the Company, it can make additional marketing expenditures and hire people to generate more revenues, and consequently increase its working capital. 2. Continue to look for software niches and digital products that can be sold via an Internet-based store. Various acquisition opportunities are being considered to help the Company generate additional revenues and obtain profitability. 3. Continue to provide consulting services and continue to charge both a cash fee and an equity-based fee, when possible, in exchange for these services. There can be no assurance that the Company will be able to achieve or maintain cash-flow-positive operating results. If the Company is unable to generate adequate funds from operations or raise sufficient additional funds, the Company may not be able to repay its existing debt, continue to operate its business network, respond to competitive pressures or fund its operations. As a result, the Company may be required to significantly reduce, reorganize, discontinue or shut down its operations. The financial statements do not include any adjustments that might result from this uncertainty.

Debt

Debt	12 Months Ended
	Apr. 30, 2019
Debt Disclosure [Abstract]
Debt	3. Debt The following table summarizes components debt as of April 30, 2019 and 2018: 2019 2018 Interest Rate Secured lender (affiliate) $ 1,000,000 $ 1,000,000 1.25 % Notes payable – related parties 76,100 76,100 0.0 % Demand notes payable 7,860 22,800 0.0 – 10.0 % Loan payable – bank 34,324 37,487 5.5 % Total Debt $ 1,118,284 $ 1,136,387 As of April 30, 2019 and 2018, the Company owed its principal lender (“Lender”) $1,000,000 under a loan and security agreement (“Loan”) dated April 28, 2011, that was amended on July 26, 2014 and again on October 31, 2017. The Lender is also the largest shareholder of the Company, owning 271,371,454 shares of common stock, or 36.1% of the 752,519,212 shares issued and outstanding, as of April 30, 2019. The Loan was amended on October 31, 2017 to change the maturity date to October 31, 2020, reduce the interest rate from 8% to 1.25% per annum, and reduce the default interest rate from 15% to 8% per annum (the “Amendments”). In conjunction with the Amendments, the Lender also agreed to reduce the total debt and accrued interest payable by $453,031 to $1,000,000, in exchange for the Company issuing to the Lender 44,198,246 shares of its common stock. Consequently, upon issuance of the 44,198,246 shares, the Company recorded an increase of $44,198 in common stock and $408,833 in capital in excess of par value. In connection with the financing, the Company has agreed to certain restrictive covenants, including, among others, that the Company may not convey, sell, lease, transfer or otherwise dispose of any part of its business or property, except as permitted in the agreement, dissolve, liquidate or merge with any other party unless, in the case of a merger, the Company is the surviving entity, incur any indebtedness except as defined in the agreement, create or allow a lien on any of its assets or collateral that has been pledged to the Lender, make any loans to any person, except for prepaid items or deposits incurred in the ordinary course of business, or make any material capital expenditures. To secure the payment of all obligations to the Lender, the Company granted to the Lender a continuing security interest and first lien on all of the assets of the Company. As of April 30, 2019 and 2018, the Company’s related-party unsecured notes payable totaled $76,100. The Company also owes $34,324 and $37,487 as of April 30, 2019 and 2018, respectively, to Chase Bank. The Company paid $220 a month in principal payments on the outstanding balance for part of fiscal 2019, but Chase Bank allows the Company to pay interest only on a monthly basis, which is calculated at a rate of 5.5% per annum. The debt to Chase Bank had been personally guaranteed by a former Chief Executive Officer and Chairman of the Board (the “Former CEO”). The Former CEO sold shares of the Company to a third-party, and in addition to payments to the Former CEO, the contract of sale required the third-party make monthly payments to Chase Bank to pay down the money owed to Chase Bank. Total payments received from the third-party in fiscal 2019 and 2018 amounted to $4,600 and $6,850, respectively, and were recorded as other income. Demand notes payable totaled $7,860 and $22,800 at April 30, 2019 and 2018, respectively. A $200,000 unsecured note was due in September 2017 and accrued interest at an annual rate of 2%. On April 9, 2018, the holder converted the note and interest payable into 21,432,329 shares of common stock at a price of $0.01 per share. At the time of conversion the Company issued common stock valued at $122,164 to settle $214,323 in debt and accrued interest payable, resulting in a gain on debt conversion of $92,159. A second note for $333,066 (the “Second Note”), accrued interest at 3% per annum was due in June 2017. The Second Note plus accrued interest was converted into shares of common stock on October 5, 2017. The Second Note was settled by issuing a total number of shares of 52,301,100, which were valued at $130,753, for the settlement of obligations of $443,011, resulting in a gain on debt settlement of $312,259. In addition to the above conversions of debt into equity, in the first quarter of fiscal 2018, the Company recorded a loss of $12,295 upon the issuance of 24,590,000 shares of stock to retire $24,590 in debt, and a loss of $6,299 was recorded in the third quarter of fiscal 2018 for the retirement of $26,973 in debt by the issuance of 8,755,867 shares of common stock.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Apr. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures of financial instruments on a recurring basis. Fair Value Hierarchy The Fair Value Measurements Topic of the FASB Accounting Standards Codification establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Financial assets and liabilities measured at fair value on a recurring basis are summarized below for the year ended April 30, 2019: Level 1 Level 2 Level 3 Total Assets Investments at cost $ — $ — $ 647,317 $ 647,317 As of April 30, 2018 there are no financial assets and liabilities measured at fair value. Determination of Fair Value Under the Fair Value Measurements Topic of the FASB Accounting Standards Codification, the Company bases its fair value on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy. Fair value measurements for assets and liabilities where there exists limited or no observable market data and, therefore, are based primarily upon management’s own estimates, are often calculated based on current pricing policy, the economic and competitive environment, the characteristics of the asset or liability and other such factors. Therefore, the results cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability. Additionally, there may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, that could significantly affect the results of current or future value. See Note 1 for a description of valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value where it is practicable to do so for financial instruments not recorded at fair value (disclosures required by the Fair Value Measurements Topic of the FASB Accounting Standards Codification).

Income Taxes

Income Taxes	12 Months Ended
	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes The Tax Cuts and Jobs Act ("Tax Act") was enacted on December 22, 2017. Among numerous provisions, the Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and creates new taxes on certain foreign sourced earnings. As a result of the Tax Act, the Company remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21%. Accordingly, deferred tax assets were adjusted down by approximately $234,000. However, because the Company recorded a full valuation allowance, the decrease in deferred tax assets from the tax rate change was fully offset by a corresponding decrease in valuation allowance, and therefore, resulted in no impact to the tax expense. At April 30, 2019, the Company had net operating loss carryforwards for Federal income tax purposes of approximately $1,300,000 expiring in the years of 2020 through 2034. Utilization of the net operating losses may be subject to annual limitations provided by Section 382 of the Internal Revenue Code and similar State provisions. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities as of April 30, 2019 and 2018 were as follows: 2019 2018 Deferred tax assets, net: Net operating loss carryforwards $ 1,300,000 $ 1,800,000 Valuation allowance 1,300,000 1,800,000 Net deferred assets $ — $ — The valuation allowance decreased to approximately $1,300,000 at April 30, 2019, from $1,800,000 at April 30, 2018, approximately $234,000 of which resulted from the Tax Act and $366,000 as a result of the utilization of a net operating loss carryforward.. The following is a reconciliation of the tax provisions for the years ended April 30, 2019 and 2018 with the statutory Federal income tax rates: Percentage of Pre-Tax Income 2019 2018 Statutory Federal income tax rate 21.0 % 34.0 % Loss generating no tax benefit (21.0 ) (34.0 ) Effective tax rate — — The Company did not have any material unrecognized tax benefits as of April 30, 2019 and 2018. The Company does not expect the unrecognized tax benefits to significantly increase or decrease within the next twelve months. The Company recorded no interest and penalties relating to unrecognized tax benefits as of and during the years ended April 30, 2019 and 2018. The Company is subject to U.S. federal income tax, as well as taxes by various state jurisdictions. The Company is currently open to audit under the statute of limitations by the federal and state jurisdictions for the years ending April 30, 2017 through 2019.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Apr. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Litigation The Company is subject to legal proceedings and claims that arise in the ordinary course of its business. In the opinion of management, the amount of ultimate liability, if any, is not likely to have a material effect on the financial condition, results of operations or liquidity of the Company. However, as the outcome of litigation or legal claims is difficult to predict, significant changes in the estimated exposures could occur. There are no known legal complaints or claims against the Company. The Company utilizes office space in Boston, Massachusetts, at a cost of approximately $4,200 per month, under a month-to-month lease agreement that allows to company to end its lease by providing 30-day written notice. The lease agreement includes a deposit of $6,300.

Stockholders' Deficit

Stockholders' Deficit	12 Months Ended
	Apr. 30, 2019
Equity [Abstract]
Stockholders' Deficit	7. Stockholders’ Deficit The Company is authorized to issue 900,000,000 shares of its common stock, par value $0.001, 752,519,212 and 731,694,210 shares were outstanding as of April 30, 2019 and 2018, respectively. In fiscal 2019, 17,825,002 shares were issued for stock-based compensation, 2,800,000 shares were issued in conjunction with a private placement memorandum for the private sale of common stock, and 200,000 shares were issued for the purchase of an Internet game company. In fiscal 2018 38,416,668 shares were issued for stock-based compensation, 153,277,542 shares were issued for debt settlement transactions and 10,000,000 shares were issued to purchase a 20% interest in software development company. The following tables summarize information about options outstanding at April 30, 2019 and 2018. Options Outstanding Options Exercisable Weighted- Average Weighted- Weighted- Remaining Average Average Number Contractual Exercise Number Exercise Range of Exercise Prices Outstanding Life (Years) Price Outstanding Price As of April 30, 2019 $0.03 18,000,000 0.02 $ 0.03 18,000,000 $ 0.03 As of April 30, 2018 $0.03 18,000,000 1.02 $ 0.03 18,000,000 $ 0.03 Number of Exercise Price Average Outstanding April 30, 2017 18,000,000 $ 0.03 $ 0.03 Granted during year ended April 30, 2018 - - - Exercised/canceled during year ended April 30, 2018 - - - Outstanding April 30, 2018 18,000,000 $ 0.03 $ 0.03 Granted during year ended April 30, 2019 - - - Exercised/canceled during year ended April 30, 201 - - - Outstanding April 30, 2019 18,000,000 $ 0.03 $ 0.03 Options exercisable, April 30, 2019 18,000,000 $0.03 $ 0.03 On May 7, 2014, the Company granted 5-year stock options that fully vest over a three year period to three consultants. Each consultant was granted an option to purchase up to 6 million shares of the Company’s common stock at a price of $0.03 per share. The Company entered consulting agreements to issue common stock and options to purchase common stock, and recorded the applicable non-cash expense in accordance with the authoritative guidance of the Financial Accounting Standards Board. All such stock option grants expired on May 7, 2019 and none of the option holders exercised their option to buy common stock. For the years ended April 30, 2019 and 2018, the Company recorded $65,153 and $130,203, respectively, in stock-based compensation expense. As of April 30, 2019 and 2018, there was $25,699 and $60,700 of prepaid stock-based compensation expense. The shares of common stock issued to pay for services in fiscal 2019, and their corresponding value, are listed in the table below. All shares of common stock issued in fiscal 2019 were issued after services had been performed. Shares Value of Description Issued Shares Chief Executive Officer 5,375,000 $ 9,063 Chief Financial Officer 5,375,000 9,063 Chief Marketing Officer 1,250,000 2,313 Marketing consultant 625,002 875 Marketing consultant 1,000,000 1,700 Marketing consultant 4,200,000 7,140 Total 17,825,002 $ 30,154 The shares of common stock issued to pay for services in fiscal 2018, and their corresponding value, are listed in the table below. The 10,000,000 shares valued at $70,000, for a marketing agreement, are for a two-year service period and theses shares account for the $25,699 and $60,700 of prepaid stock-compensation expense at April 30, 2019 and 2018, respectively. $16,425 in prepaid stock compensation expense at April 30, 2017 was recognized as stock-based compensation in fiscal 2018. All other shares of common stock issued in fiscal 2018 were issued after services had been performed. Shares Value of Description Issued Shares Chief Executive Officer 13,375,000 $ 35,525 Chief Financial Officer 13,375,000 60,525 Chief Technology Officer 1,250,000 1,989 Marketing agreement 10,000,000 70,000 Marketing consultant 416,668 6,438 Total 38,416,668 $ 174,477

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Apr. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share	8. Earnings Per Common Share Earnings per common share data was computed as follows: 2019 2018 Net income $ 582,880 $ 131,129 Weighted average common shares outstanding 741,721,963 637,660,247 Effect of dilutive securities — — Weighted average dilutive common shares outstanding 741,721,963 637,660,247 Earnings per common share – basic $ 0.00 $ 0.00 Earnings per common share – diluted $ 0.00 $ 0.00

Related Party Transactions

Related Party Transactions	12 Months Ended
	Apr. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Our largest shareholder, Vaxstar LLC, is also our working capital lender. As of April 30, 2019 and 2018, we owe our largest shareholder $1,000,000, under a term note agreement that bears interest at an annual rate of 1.25%. We have not made any principal or interest payments to our working capital lender. Unpaid interest has been accrued. Our Chief Executive Officer is also the Chief Executive Officer of Vaxstar LLC. In connection with the financing, the Company has agreed to certain restrictive covenants, including, among others, that the Company may not convey, sell, lease, transfer or otherwise dispose of any part of its business or property, except as permitted in the agreement, dissolve, liquidate or merge with any other party unless, in the case of a merger, the Company is the surviving entity, incur any indebtedness except as defined in the agreement, create or allow a lien on any of its assets or collateral that has been pledged to the Lender, make any loans to any person, except for prepaid items or deposits incurred in the ordinary course of business, or make any material capital expenditures. We owe Steven Geary, a director, $31,680 as of April 30, 2019 and 2018. This obligation is not interest bearing. $16,680 is recorded as a related party trade accounts payable and $15,000 as a related party note payable. We have no signed agreements for the indebtedness to Mr. Geary. As of April 30, 2019 and 2018, we owe $61,000 to a company controlled by one of our directors.

Investments

Investments	12 Months Ended
	Apr. 30, 2019
Notes to Financial Statements
Investments	10. Investments During fiscal 2019, the Company entered into a consulting contract with NetCapital Systems LLC (“Netcapital”), which allows the Company to receive up to 1,000 membership interest units of NetCapital in return for consulting services. As of April 30, 2019, the Company had earned 709 membership interest units, and the remaining 291 units can be earned on a straight-line basis over the 14-month period ended June 30, 2020. The Company valued the 709 membership interest units at $647,317, based upon a private sale of Netcapital membership interest units in which an accredited investor purchased Netcapital membership interest units at a per unit price of $913 in an arms-length transaction. Such value is consistent with the standard hourly billing rate of $500 per hour charged by the Company for consulting services. The services rendered by the Company aggregated approximately 1,250 hours. During fiscal 2018, the Company acquired a 20% interest in AthenaSoft Corp., an entity that provides programming services and sales to its wholly owned subsidiary, AthenaSoft Inc. The Company has no influence over the operations of AthenaSoft Corp. and recorded its investment at cost, which amounted to $23,000. On April 30, 2019, the Company determined its investment in AthenaSoft Corp. was impaired. The Company recorded a valuation loss on investments at April 30, 2019 and 2018 of $23,000 and $0, respectively.

Concentrations

Concentrations	12 Months Ended
	Apr. 30, 2019
Notes to Financial Statements
Concentrations	11. Concentrations For the year ended April 30, 2019, the Company had one customer that constituted 65% of its revenues and a second customer that constituted 23% of its revenues. For the year ended April 30, 2018, the Company had one customer that constituted 33% of its revenues and a second customer that constituted 13% of its revenues.

Subsequent Events

Subsequent Events	12 Months Ended
	Apr. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events The Company evaluated subsequent events through the date these financial statements were available to be issued. On July 31, 2019 the Company issued an aggregate of 2,812,500 shares of common stock to its three officers in conjunction with the established stock-based compensation vesting plans There were no other material subsequent events that required recognition or additional disclosure in these financial statements.

Description of Business and S_2

Description of Business and Summary of Accounting Principles (Policies)	12 Months Ended
	Apr. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Concentrations	Description of Business and Concentrations ValueSetters, Inc. (“ValueSetters,” “we,” “our,” or the “Company”) is a provider of consulting services, subscription services, advertising and digital goods using technology distribution platforms like the Internet and mobile devices in the media and entertainment markets. The financial statements are presented in United States dollars and have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s fiscal year end is April 30.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary after elimination of significant intercompany balances and transactions. The operations of a 100% owned subsidiary, AthenaSoft Inc., a Delaware corporation, are included beginning on October 20, 2017, the day of its formation by the Company.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. A valuation allowance has been established to eliminate the Company’s deferred tax assets as it is more likely than not that none of the deferred tax assets will be realized. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon settlement with the tax authorities. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in income tax expense. The Company has determined that it had no significant uncertain tax positions requiring recognition or disclosure.
Revenue Recognition	Revenue Recognition under ASC 606 The Company adopted ASC 606 for the year ended April 30, 2019 on a modified retrospective basis. The Company had no material contracts outstanding at the prior year-end, and consequently there were no material effects upon adoption or on prior period activity. The Company recognizes service revenue from its consulting contracts and its game website using the five-step model as prescribed by ASC 606: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when or as, the Company satisfies a performance obligation. The Company identifies performance obligations in contracts with customers, which primarily are professional services and subscription services. The transaction price is determined based on the amount the Company expects to be entitled to receive in exchange for transferring the promised services to the customer. The transaction price in the contract is allocated to each distinct performance obligation in an amount that represents the relative amount of consideration expected to be received in exchange for satisfying each performance obligation. Revenue is recognized when performance obligations are satisfied. The Company usually bills its customers before it provides any services, and begins performing services after the first payment is received. Contracts are typically one year or less. For larger contracts, in addition to the initial payment, the Company may allow for progress payments throughout the term of the contract. Judgments and Estimates The estimation of variable consideration for each performance obligation requires the Company to make subjective judgments. The Company enters into contracts with customers that regularly include promises to transfer multiple services, such as digital marketing, web-based videos, offering statements, and professional services. For arrangements with multiple services, the Company evaluates whether the individual services qualify as distinct performance obligations. In its assessment of whether a service is a distinct performance obligation, the Company determines whether the customer can benefit from the service on its own or with other readily available resources, and whether the service is separately identifiable from other services in the contract. This evaluation requires the Company to assess the nature of each individual service offering and how the services are provided in the context of the contract, including whether the services are significantly integrated, highly interrelated, or significantly modify each other, which may require judgment based on the facts and circumstances of the contract. When agreements involve multiple distinct performance obligations, the Company allocates arrangement consideration to all performance obligations at the inception of an arrangement based on the relative standalone selling prices (SSP) of each performance obligation. Where the Company has standalone sales data for its performance obligations which are indicative of the price at which the Company sells a promised service separately to a customer, such data is used to establish SSP. In instances where standalone sales data is not available for a particular performance obligation, the Company estimates SSP by the use of observable market and cost-based inputs. The Company continues to review the factors used to establish list price and will adjust standalone selling price methodologies as necessary on a prospective basis. Service Revenue Service revenue from subscriptions to the Company's game website is recognized over time on a ratable basis over the contractual subscription term beginning on the date that the platform is made available to the customer. Payments received in advance of subscription services being rendered are recorded as a deferred revenue. Professional services revenue is recognized over time as the services are rendered. Consequently, when an upfront fee does not relate to the transfer of a promised good or service, the fee is an advance payment for future goods or services and the Company does not recognize the fee as revenue until the future services are provided. When a contract with a customer is signed, the Company assesses whether collection of the fees under the arrangement is probable. The Company estimates the amount to reserve for uncollectible amounts based on the aging of the contract balance, current and historical customer trends, and communications with its customers. These reserves are recorded as operating expenses against the contract asset (Accounts Receivable). Contract Assets Contract assets are recorded for those parts of the contract consideration not yet invoiced but for which the performance obligations are completed. The revenue is recognized when the customer receives services. Contract assets are included in other current assets in the consolidated balance sheets and will be recognized during the succeeding twelve-month period . Deferred Revenue Deferred revenues represent billings or payments received in advance of revenue recognition and is recognized upon transfer of control. Balances consist primarily of annual plan subscription services and professional and training services not yet provided as of the balance sheet date. Deferred revenues that will be recognized during the succeeding twelve-month period are recorded as current deferred revenues in the consolidated balance sheets, with the remainder recorded as other non-current liabilities in the consolidated balance sheets. Costs to Obtain a Customer Contract Sales commissions and related expenses are considered incremental and recoverable costs of acquiring customer contracts. These costs are capitalized as other current or non-current assets and amortized on a straight-line basis over the life of the contract, which approximates the benefit period. The benefit period was estimated by taking into consideration the length of customer contracts, technology lifecycle, and other factors. All sales commissions are recorded as consulting fees within the Company's consolidated statement of operations. Remaining Performance Obligations The Company's subscription terms are typically less than one year. All of the Company’s revenues in the years ended April 30, 2019 and 2018, which amounted to $1,013,612 and $111,171, respectively, are considered contract revenues. Contract revenue as of April 30, 2019 and 2018, which has not yet been recognized, amounted to $15,711 and $885, respectively, and is recorded on the balance sheet as deferred revenue. The Company expects to recognize revenue on all of its remaining performance obligations over the next 12 months.
Costs of Services	Costs of Services Costs of services consist of direct costs that we pay to third parties in order to provide the services that generate revenue.
Earnings Per Share	Earnings Per Share Earnings per share is computed by dividing net income by the weighted-average number of shares outstanding. To the extent that stock options and convertible debt are anti-dilutive, they are excluded from the calculation of diluted earnings per share. For 2019 and 2018, the Company had stock options outstanding to purchase 18,000,000 shares of common stock at $0.03 per share, which were not considered in the earnings per share calculation because of their anti-dilutive effect.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. The Company did not have any cash equivalents during fiscal 2019 and 2018.
Stock Based Compensation	Stock-Based Compensation The Company accounts for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation – Stock Compensation which requires all share-based payments to employees, including the vesting of restricted stock grants to employees, to be recognized in the financial statements based on their fair values. The fair value of the equity instrument is charged directly to compensation expense and credited to common stock and capital in excess of par value during the period during which services are rendered. The Company follows ASC Topic 505-50, formerly EITF 96-18, “Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services,” for common stock issued to consultants and other non-employees. These shares of common stock are issued as compensation for services provided to the Company and are accounted for based upon the fair market value of the common stock. The fair value of the equity instrument is charged directly to compensation expense, or to prepaid expenses in instances where stock was issued under a contractual arrangement to a consultant who agreed to provide services over a period of time.
Advertising Expenses	Advertising Expenses Advertising and marketing expenses are recorded separately in the Statements of Operations and are expensed as incurred.
Investments	Investments Investments are accounted for based upon either the cost of the investment, the fair value of the services provided or the estimated market value of the investment at the time it was acquired, whichever can be more clearly determined.
Use of Estimates	Use of Estimates In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The most significant estimate relates to the accruals for income tax valuation allowance. On a continual basis, management reviews its estimates, utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates.
Determination of Fair Value	Determination of Fair Value Cash and cash equivalents, accounts receivable, and accounts payable In general, carrying amounts approximate fair value because of the short maturity of these instruments.
Deferred Revenue	Deferred Revenue Deferred Revenue represents revenues collected but not earned as of the year end. The Company renders services, or rights to use its software, over a specific time period and revenues are recognized as earned as time passes.
Debt	Debt At April 30, 2019 and 2018, the Company’s secured debt was carried at its face value plus accrued interest. Based on the financial condition of the Company, it is impracticable for the Company to estimate the fair value of its short and long-term debt. The Company has no instruments with significant off balance sheet risk.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02 – “Leases (Topic 842).” Under ASU 2016-02, entities will be required to recognize lease asset and lease liabilities by lessees for those leases classified as operating leases. Among other changes in accounting for leases, a lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. When measuring assets and liabilities arising from a lease, a lessee (and a lessor) should include payments to be made in optional periods only if the lessee is reasonably certain to exercise an option to extend the lease or not to exercise an option to terminate the lease. Similarly, optional payments to purchase the underlying asset should be included in the measurement of lease assets and lease liabilities only if the lessee is reasonably certain to exercise that purchase option. The amendments in ASU 2016-02 will become effective for fiscal years beginning after December 15, 2018, including interim periods with those fiscal years, for public business entities. We are currently evaluating the effect of the adoption of ASU 2016-02 will have on our consolidated results of operations, financial position or cash flows. In June 2018, the FASB issued ASU 2018-7, Compensation-Stock Compensation (Topic 718), which now provides guidance for share-based payments to non-employees, resulting in alignment in accounting for employees and non-employees. The amendment is effective for public companies with fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company estimates the impact of this pronouncement to its consolidated financial statements to be immaterial. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), which makes modifications to disclosure requirements on fair value measurements. The amendment is effective for public companies with fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently assessing the impact of this pronouncement to its consolidated financial statements. In August 2018, the FASB issued 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40), which reduces complexity for the accounting for the accounting for costs of implementing a cloud computing service arrangement. The amendment is effective for public companies with fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently assessing the impact of this pronouncement to its consolidated financial statements. Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Apr. 30, 2019
Debt Disclosure [Abstract]
Schedule of components debt	2019 2018 Interest Rate Secured lender (affiliate) $ 1,000,000 $ 1,000,000 1.25 % Notes payable – related parties 76,100 76,100 0.0 % Demand notes payable 7,860 22,800 0.0 – 10.0 % Loan payable – bank 34,324 37,487 5.5 % Total Debt $ 1,118,284 $ 1,136,387

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Apr. 30, 2019
Fair Value Measurements Tables Abstract
Schedule of fair value measurements	Level 1 Level 2 Level 3 Total Assets Investments at cost $ — $ — $ 647,317 $ 647,317

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	2019 2018 Deferred tax assets, net: Net operating loss carryforwards $ 1,300,000 $ 1,800,000 Valuation allowance 1,300,000 1,800,000 Net deferred assets $ — $ —
Schedule of tax provisions	Percentage of Pre-Tax Income 2019 2018 Statutory Federal income tax rate 21.0 % 34.0 % Loss generating no tax benefit (21.0 ) (34.0 ) Effective tax rate — —

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	12 Months Ended
	Apr. 30, 2019
Equity [Abstract]
Schedule of stockholders' deficit	Options Outstanding Options Exercisable Weighted- Average Weighted- Weighted- Remaining Average Average Number Contractual Exercise Number Exercise Range of Exercise Prices Outstanding Life (Years) Price Outstanding Price As of April 30, 2019 $0.03 18,000,000 0.02 $ 0.03 18,000,000 $ 0.03 As of April 30, 2018 $0.03 18,000,000 1.02 $ 0.03 18,000,000 $ 0.03 Number of Exercise Price Average Outstanding April 30, 2017 18,000,000 $ 0.03 $ 0.03 Granted during year ended April 30, 2018 - - - Exercised/canceled during year ended April 30, 2018 - - - Outstanding April 30, 2018 18,000,000 $ 0.03 $ 0.03 Granted during year ended April 30, 2019 - - - Exercised/canceled during year ended April 30, 201 - - - Outstanding April 30, 2019 18,000,000 $ 0.03 $ 0.03 Options exercisable, April 30, 2019 18,000,000 $0.03 $ 0.03 Shares Value of Description Issued Shares Chief Executive Officer 5,375,000 $ 9,063 Chief Financial Officer 5,375,000 9,063 Chief Marketing Officer 1,250,000 2,313 Marketing consultant 625,002 875 Marketing consultant 1,000,000 1,700 Marketing consultant 4,200,000 7,140 Total 17,825,002 $ 30,154 Shares Value of Description Issued Shares Chief Executive Officer 13,375,000 $ 35,525 Chief Financial Officer 13,375,000 60,525 Chief Technology Officer 1,250,000 1,989 Marketing agreement 10,000,000 70,000 Marketing consultant 416,668 6,438 Total 38,416,668 $ 174,477

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Apr. 30, 2019
Earnings Per Share [Abstract]
Schedule of earnings per share	2019 2018 Net income $ 582,880 $ 131,129 Weighted average common shares outstanding 741,721,963 637,660,247 Effect of dilutive securities — — Weighted average dilutive common shares outstanding 741,721,963 637,660,247 Earnings per common share – basic $ 0.00 $ 0.00 Earnings per common share – diluted $ 0.00 $ 0.00

Going Concern (Details Narrativ

Going Concern (Details Narrative)	Apr. 30, 2019USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital	$ (518,875)
Stockholders' equity deficit	$ 865,258

Debt (Details)

Debt (Details) - USD ($)	Apr. 30, 2019	Apr. 30, 2018
Debt Disclosure [Abstract]
Secured lender (affiliate)	$ 1,000,000	$ 1,000,000
Notes payable - related parties	76,100	76,100
Demand notes payable	7,860	22,800
Loan payable - bank	34,324	37,487
Total Debt	$ 1,118,284	$ 1,136,387

Fair Value Measurements (Detail

Fair Value Measurements (Details)	Apr. 30, 2019USD ($)
Fair Value, Inputs, Level 1 [Member]
Investments at cost
Fair Value, Inputs, Level 2 [Member]
Investments at cost
Fair Value, Inputs, Level 3 [Member]
Investments at cost	647,317
Total
Investments at cost	$ 647,317

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Apr. 30, 2019	Apr. 30, 2018
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 1,300,000	$ 1,800,000
Valuation allowance	1,300,000	1,800,000
Net deferred assets

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Income Tax Disclosure [Abstract]
Statutory Federal income tax rate	2100.00%	3400.00%
Loss generating no tax benefit	(2100.00%)	(3400.00%)
Effective tax rate

Stockholders' Deficit (Details)

Stockholders' Deficit (Details) - $ / shares	12 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Option activity
Number of Options, Outstanding (in shares)	18,000,000	18,000,000
Number of Options, Outstanding (in shares)		18,000,000
Weighted Average Remaining Contractual Life	7 days	1 year 7 days
Weighted Average Exercise Price
Weighted Average Exercise Price (in dollars per share)	$ 0.03	$ 0.03
Weighted Average Exercise Price (in dollars per share)	$ 0.03	$ 0.03

Stockholders' Deficit-Shares Is

Stockholders' Deficit-Shares Issued for Services (Details) - USD ($)	12 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Chief Executive Officer
Stock issued for services	$ 9,063	$ 35,525
Stock issued for services (in shares)	5,375,000	13,375,000
Chief Financial Officer
Stock issued for services	$ 9,063	$ 60,525
Stock issued for services (in shares)	5,375,000	13,375,000
Chief Marketing Officer
Stock issued for services	$ 2,313
Stock issued for services (in shares)	1,250,000
Marketing Consultant
Stock issued for services	$ 875	$ 6,438
Stock issued for services (in shares)	625,002	416,668
Marketing Consultant 2
Stock issued for services	$ 1,700
Stock issued for services (in shares)	1,000,000
Marketing Consultant 3
Stock issued for services	$ 7,140
Stock issued for services (in shares)	4,200,000
Total
Stock issued for services	$ 30,154	$ 174,477
Stock issued for services (in shares)	17,825,002	38,416,668
Chief Technology Officer
Stock issued for services		$ 1,989
Stock issued for services (in shares)		1,250,000
Marketing Agreement
Stock issued for services		$ 70,000
Stock issued for services (in shares)		10,000,000

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($)	12 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 582,880	$ 131,129
Weighted average common shares outstanding	741,721,963	637,660,247
Effect of dilutive securities
Weighted average dilutive common shares outstanding	741,721,963	637,660,247
Earnings (loss) per common share – basic	$ 0	$ 0
Earnings (loss) per common share – diluted	$ 0	$ 0