MMEX Resources (MMEX) 10-Q 28 Mar 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2016	Mar. 13, 2017
Document And Entity Information
Entity Registrant Name	MMEX Resources Corp
Entity Central Index Key	1,440,799
Document Type	10-Q
Document Period End Date	Oct. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer	No
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,473,923,522
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Current assets:
Cash	$ 209	$ 1,030
Total current assets	209	1,030
Property and equipment, net		386
Total assets	209	1,416
Current liabilities:
Accounts payable	737,194	651,188
Accounts payable - related party	4,760
Accrued expenses	1,053,217	984,387
Accrued expenses - related party	67,545	64,420
Notes payable, currently in default	375,000	375,000
Convertible notes payable, currently in default	195,001	195,001
Convertible preferred stock, currently in default	137,500	137,500
Derivative liabilities	362,511	395,619
Total current liabilities	2,932,728	2,803,115
Commitments and contingencies
Stockholders' deficit:
Common stock; $0.001 par value, 3,000,000,000 shares authorized, 383,528,409 and 180,432,013 shares issued and outstanding at October 31, 2016 and April 30, 2016, respectively	383,529	180,434
Common stock payable	505,821	3,395,483
Additional paid in capital	26,920,335	24,154,130
Non-controlling interest	(377,534)	(376,619)
Accumulated (deficit)	(30,364,670)	(30,155,127)
Total Stockholders' Deficit	(2,932,519)	(2,801,699)
Total Liabilities and Stockholders' Deficit	$ 209	$ 1,416

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2016	Apr. 30, 2016
Stockholders' deficit:
Common stock, par value	$ 0.001	$ 0.001
Common stock, Authorized	3,000,000,000	3,000,000,000
Common stock, Issued	383,528,409	180,432,013
Common stock, outstanding	383,528,409	180,432,013

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Operating Expenses:
General and administrative expenses	$ 102,651	$ 32,743	$ 126,241	$ 134,087
Depreciation and amortization	62	375	386	1,261
Total operating expenses	102,713	33,118	126,627	135,348
Loss from operations	(102,713)	(33,118)	(126,627)	(135,348)
Other income (expense):
Interest expense	(80,700)	(36,107)	(116,939)	(456,997)
Gain (loss) on derivative liabilities	(52,587)	(970,938)	33,108	(1,274,768)
Gain (loss) on extinguishment of debt		48,050		(1,365,521)
Total other (expense)	(133,287)	(958,995)	(83,831)	(3,097,286)
Loss before income taxes	(236,000)	(992,113)	(210,458)	(3,232,634)
Provision for income taxes
Net loss	(236,000)	(992,113)	(210,458)	(3,232,634)
Non-controlling interest in loss of consolidated subsidiaries	453	461	915	924
Net loss attributable to the Company	$ (235,547)	$ (991,652)	$ (209,543)	$ (3,231,710)
Weighted average number of common shares outstanding - basic and diluted	376,528,409	57,148,313	373,973,860	57,168,313
Net loss per common share - basic and diluted	$ 0	$ (0.02)	$ 0	$ (0.06)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Cash flows from operating activities
Net loss attributable to the Company	$ (209,543)	$ (3,231,710)
Non-controlling interest in loss of consolidated subsidiaries	(915)	(924)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	386	1,261
Stock-based compensation	47,254
(Gain) loss on derivative liabilities	(33,108)	1,274,768
Amortization of debt discount		375,617
Amortization of deferred loan costs		8,822
Loss on extinguishment of debt		1,365,521
Increase (decrease) in liabilities:
Accounts payable	90,766	(9,268)
Accrued expenses	71,955	168,173
Net cash used in operating activities	(33,205)	(47,740)
Cash flows from investing activities
Decrease in deposits		10,000
Net cash provided by investing activities		10,000
Cash flows from financing activities
Proceeds from common stock payable	32,384	40,000
Net cash provided by financing activities	32,384	40,000
Net increase (decrease) in cash	(821)	2,260
Cash at the beginning of the period	1,030	141
Cash at the end of the period	209	2,401
Supplemental disclosures:
Interest paid
Income taxes paid
Common stock for common stock payable	196,095
Additional paid-in capital for common stock payable	2,738,905
Adjustment to common stock and additional paid-in capital		(39)
Accrued expenses contributed to capital		2,063,468
Preferred stock and accrued dividends converted to common stock payable		(1,410,685)
Notes payable converted to common stock payable		1,950,000
Notes payable - related party contributed to capital		$ 149,253

BACKGROUND, ORGANIZATION AND BA

BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 1 - BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION	MMEX Resources Corporation (the “Company” or “MMEX”) was formed in the State of Nevada on May 19, 2005 as Inkie Entertainment Group, Inc. Subsequently, the Company amended its articles of incorporation to change its name to MMEX Resources Corporation and to authorize the Company to issue up to 3,000,000,000 common shares and 10,000,000 preferred shares. The changes in the number of authorized shares of the Company have been given retroactive effect in the accompanying consolidated financial statements. The Board of Directors of the Company has decided to focus efforts on the oil, gas, refining and electric power business in the United States and Latin America. The accompanying condensed consolidated financial statements include the accounts of the following entities, all of which the Company maintains control through a majority ownership: Name of Entity % Form of Entity State of Incorporation Relationship MMEX Resources Corporation (“MMEX”) - Corporation Nevada Parent MCC Merger, Inc. (“MCCM”) 100% Corporation Delaware Holding Subsidiary Maple Carpenter Creek Holdings, Inc. (“MCCH”) 100% Corporation Delaware Subsidiary Maple Carpenter Creek, LLC (“MCC”) 80% LLC Nevada Subsidiary Carpenter Creek, LLC (“CC”) 95% LLC Delaware Subsidiary Armadillo Holdings Group Corp. (“AHGC”) 100% Corporation British Virgin Isles Subsidiary Armadillo Mining Corp. (“AMC”) 98.6% Corporation British Virgin Isles Subsidiary As of April 13, 2016, the Company assigned AMC to an irrevocable trust (the “Trust”), whose beneficiaries are the existing shareholders of MMEX. The accounts of AMC are included in the consolidated financial statements due to the common ownership. AMC through the Trust controls the Hunza coal interest previously owned by the Company. On September 1, 2016, the Company entered into a stock assignment agreement with LatAm Services, LLC (“LatAm”) pursuant to which it assigned MCCH to LatAm. With the assignment of MCCH to LatAm, the Company has exited the Hunza coal project to focus on energy related projects under its new business plan. All significant inter-company transactions have been eliminated in the preparation of the consolidated financial statements. These financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for a fair presentation of the information contained therein. The Company has adopted a fiscal year end of April 30.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Our significant accounting policies are described in our Annual Report on Form 10-K for the year ended April 30, 2016 filed with the SEC on January 13, 2017. Use of 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 reported amounts of assets and liabilities, and 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. Actual results could differ from those estimates. Derivative liabilities In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives. We estimate the fair value of the derivatives using multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility and management’s estimates of various potential equity financing transactions. These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material. Fair value of financial instruments Under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, Financial Instruments, An entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value using a hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy prioritized the inputs into three levels that may be used to measure fair value: Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in markets that are not active. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows: October 31, 2016 Total Level 1 Level 2 Level 3 Derivative liabilities $ 362,511 $ - $ - $ 362,511 April 30, 2016 Total Level 1 Level 2 Level 3 Derivative liabilities $ 395,619 $ - $ - $ 395,619 Basic and diluted loss per share Basic net income or loss per share is calculated by dividing net income or loss (available to common stockholders) by the weighted average number of common shares outstanding for the period. Diluted income or loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, warrants, convertible debt and convertible preferred stock, were exercised or converted into common stock. For the three months and six months ended October 31, 2016, potential dilutive shares had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share; therefore, basic net loss per share is the same as diluted net loss per share. Issuance of shares for non-cash consideration The Company accounts for the issuance of equity instruments to acquire goods and/or services based on the fair value of the goods and services or the fair value of the equity instrument at the time of issuance, whichever is more reliably determinable. The Company's accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows the provisions of the standards issued by the FASB. The measurement date for the fair value of the equity instruments issued is determined as the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor's performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. Reclassifications Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation. Recently Issued Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-4, “Intangibles – Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment.” This update simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. An entity should apply the amendments in this update on a prospective basis. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition. That disclosure should be provided in the first annual period and in the interim period within the first annual period when the entity initially adopts the amendments in this update. A public business entity that is an SEC filer should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement. In January 2017, the FASB issued ASU No. 2017-1, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” The amendments in this update clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments of this ASU are effective for public business entities for annual periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. The amendments in this Update are to be applied prospectively on or after the effective date. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement. In October 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-17, “Consolidation (Topic 810): Interests Held Through Related Parties That are Under Common Control.” This update amends the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (“VIE”) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The primary beneficiary of a VIE is the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement. Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 3 - GOING CONCERN	Our financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplate the realization of assets and liquidation of liabilities in the normal course of business. We have incurred continuous losses from operations, have an accumulated deficit of $30,364,670 and a total stockholders’ deficit of $2,932,519 at October 31, 2016, and have reported negative cash flows from operations since inception. In addition, we do not currently have the cash resources to meet our operating commitments for the next twelve months, and we expect to have ongoing requirements for capital investment to implement our business plan. Finally, our ability to continue as a going concern must be considered in light of the problems, expenses and complications frequently encountered by entrance into established markets and the competitive environment in which we operate. Since inception, our operations have primarily been funded through private debt and equity financing, as well as capital contributions by our subsidiaries' partners, and we expect to continue to seek additional funding through private or public equity and debt financing. Our ability to continue as a going concern is dependent on our ability to generate sufficient cash from operations to meet our cash needs and/or to raise funds to finance ongoing operations and repay debt. However, there can be no assurance that we will be successful in our efforts to raise additional debt or equity capital and/or that our cash generated by our operations will be adequate to meet our needs. These factors, among others, indicate that we may be unable to continue as a going concern for a reasonable period of time. The financial statements do not include any adjustments that might result from the outcome of any uncertainty as to the Company's ability to continue as a going concern. The financial statements also do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 4 - RELATED PARTY TRANSACTIONS	During the past few years, Tydus Richards, the former Chairman of our board of directors and shareholder, made certain payments on behalf of the Company. The Company has partially reimbursed Mr. Richards for these advances. As of October 31, 2016 and April 30, 2016, a remaining balance payable of $31,633 is included in accrued expenses – related party. On October 9, 2014, convertible notes payable in default to an accredited investor of $1,650,000, $120,000 and $180,000 were assigned to The Maple Gas Corporation, a related party owned by Mr. Jack W. Hanks, a director and officer of the Company. On May 8, 2015, The Maple Gas Corporation converted the notes into 194,999,999 common shares of the Company at $0.01 per share, which resulted in a loss on extinguishment of debt of $975,000. The issuance of the common shares to Maple Structure Holdings was approved by the Company’s Board of Directors Resolution dated May 18, 2015, and the shares were issued on May 2, 2016. At April 30, 2016, common stock payable included an obligation of $2,925,000 for the issuance of the shares. Accounts payable to related parties, comprised of amounts payable to The Maple Gas Corporation, totaled $4,760 and $0 at October 31, 2016 and April 30, 2016, respectively. Accrued expenses (see Note 6) to related parties totaled $67,545 and $64,420 as of October 31, 2016 and April 30, 2016, respectively.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 5 - PROPERTY AND EQUIPMENT	Property and equipment consisted of the following at: October 31, 2016 April 30, 2016 Computer software and hardware $ 25,023 $ 25,023 Less accumulated depreciation and amortization (25,023 ) (24,637 ) $ - $ 386

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 6 - ACCRUED EXPENSES	Accrued expenses consisted of the following at: October 31, 2016 April 30, 2016 Accrued payroll $ 240,059 $ 240,309 Accrued consulting 75,633 75,633 Accrued interest 742,529 670,324 Other 62,541 62,541 $ 1,120,762 $ 1,048,807

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 7 - NOTES PAYABLE	Notes payable, currently in default, consist of the following at: October 31, 2016 April 30, 2016 Note payable to an unrelated party, maturing July 15, 2010, with interest at 10% $ 300,000 $ 300,000 Note payable to an unrelated party, maturing December 31, 2010, with interest at 10% 25,000 25,000 Note payable to an unrelated party, maturing January 27, 2012, with interest at 25% 50,000 50,000 $ 375,000 $ 375,000 Accrued interest payable on notes payable, currently in default, totaled $297,102 and $276,477 at October 31, 2016 and April 30, 2016, respectively. Convertible notes payable, currently in default, consist of the following at: October 31, 2016 April 30, 2016 Note payable to an accredited investor, maturing March 1, 2013, with interest at 1.87% per month, secured with 900,000 common shares of the Company owned by the president and CEO of the Company $ 120,000 $ 120,000 Note payable to an unrelated party, maturing March 18, 2014, with interest at 10% 75,001 75,001 Total $ 195,001 $ 195,001 Accrued interest payable on convertible notes payable, currently in default, totaled $129,272 and $112,058 at October 31, 2016 and April 30, 2016, respectively. On January 2, 2013, the Company closed a note purchase agreement with an accredited investor pursuant to which the Company sold a $120,000 note in a private placement transaction. The note was due and payable on March 1, 2013, is currently in default and carries a monthly interest rate of 1.87%. The note purchase agreement included the issuance of 300,000 shares of the Company’s common stock. The note is secured with 900,000 shares of the Company’s common stock owned by Jack W. Hanks, the Company’s President and CEO. The 300,000 shares were valued at $0.10 per share, the closing price of the Company’s common stock on January 2, 2013, and recorded as a $30,000 increase to debt discount and an increase to common stock payable. The Company allocated the proceeds from the issuance of the notes to the warrants when applicable and to the notes based on their estimated fair market values at the date of issuance using the Black-Scholes option pricing model. The debt discount resulting from interest and the value of warrants computed at the inception of the notes payable was amortized as additional interest expense over the term of the notes.

CONVERTIBLE PREFERRED STOCK

CONVERTIBLE PREFERRED STOCK	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 8 - CONVERTIBLE PREFERRED STOCK	Convertible Preferred Stock, Currently in Default On June 30, 2011, the Company issued 360,000 shares of Armadillo Mining Corporation Preferred Stock to five unrelated parties in exchange for an investment of $360,000. The Preferred Stock carry a 25% cumulative dividend and have a mandatory redemption feature on December 31, 2011 at a price of $1.25 per share. In addition, the Company issued 360,000 warrants to purchase shares of the Company’s common stock at an exercise price of $0.60 per share on or before three years from the repayment or conversion date. On January 6, 2012, three unrelated parties converted their Preferred Stock and accrued dividends of $312,500 into 2,983,293 shares of the Company’s common stock at a price of $.10475 per share. As the conversion took place at below the market price and not within the terms of the agreement on the date of conversion, a loss of $75,328 was recorded. As of October 31, 2016 and April 30, 2016, the remaining face value of the Preferred Stock was $137,500. Accrued dividends on the Preferred Stock totaled $316,165 and $281,789 as of October 31, 2016 and April 30, 2016, respectively. The Company recorded interest expense, which included amortization of debt discount on certain debt in prior years, totaling $80,700 and $36,107 for the three months ended October 31, 2016, respectively, and $116,939 and $456,997 for the six months ended October 31, 2016 and 2015, respectively.

DERIVATIVE LIABILITIES

DERIVATIVE LIABILITIES	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 9 - DERIVATIVE LIABILITIES	In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives. During the six months ended October 31, 2016, we had the following activity in our derivative liabilities: Balance, April 30, 2016 $ 395,619 Change in fair value of derivative liabilities (33,108 ) Balance, October 31, 2016 $ 362,511 The Company calculated the fair value of the derivatives using a multinomial lattice model simulation. The model is based on a probability weighted discounted cash flow model using projections of the various potential outcomes. Key inputs and assumptions used in valuing the Company’s derivative liabilities are as follows for issuances of warrants: · Stock prices on all measurement dates were based on the fair market value · Risk-free interest rates ranging from 1.03% – 2.49% · The probability of future financing was estimated at 100% · Computed volatility ranging from 103% to 249% These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.

STOCKHOLDERS DEFICIT

STOCKHOLDERS DEFICIT	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 10 - STOCKHOLDERS DEFICIT	Authorized Shares As of April 6, 2016, the Company amended its articles of incorporation to increase its authorized shares to 1,000,000,000 common shares and 10,000,000 preferred shares, and subsequently increased its authorized common shares to 3,000,000 shares (Note 14). The increase in authorized shares has been given retroactive effect in the accompanying condensed consolidated financial statements for all periods presented. Stock Issuances On May 2, 2016, the Company issued 194,999,999 shares of its common stock to a related party pursuant to the conversion of notes payable in default (see Note 4), reducing stock subscriptions payable by $2,925,000. As part of a private placement to qualified investors, the Company issued 1,096,397 shares of its common stock on July 12, 2016 to an investor for stock subscriptions payable of $10,000. On October 31, 2016, the Company issued 7,000,000 shares of its common stock as a settlement fee valued at $34,300 to an institution lender pursuant to a Settlement Agreement and Stipulation (see Note 11). Common Stock Payable During the six months ended October 31, 2016, the Company completed subscription agreements for common stock and warrants with qualified investors in a private placement for cash of $32,384. The shares of common stock were issued subsequent to October 31, 2016, and common stock payable included $32,384 at October 31, 2016 related to these transactions. The attached warrants were identified as derivatives, resulting in their inclusion in the derivative liabilities of $362,511 at October 31, 2016 (see Note 9). Stock Options On March 7, 2012, the Company issued a total of 2,000,000 stock options exercisable at $0.35 per share for a period of ten years from the date of grant. The Company did not grant any stock options during the six months ended October 31, 2016. A summary of stock option activity during the six months ended October 31, 2016 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding, April 30, 2016 2,000,000 $ 0.35 5.85 Granted - - Canceled / Expired - - Exercised - - Outstanding, October 31, 2016 2,000,000 $ 0.35 5.35 The Company uses the Black-Scholes option pricing model to estimate the grant date fair value of its stock options, which value is amortized to stock-based compensation expense over the vesting period of the options. No stock-based compensation expense was recorded during the three months and six months ended October 31, 2016 and 2015 related to stock option grants. There was no unrecognized stock option expense at October 31, 2016. Warrants The Company has issued warrants to qualified investors in a private placement, for debt discounts or other stock-based compensation. These warrants generally vest upon grant and are valued using the Black-Scholes option pricing model or multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes. A summary of warrant activity during the six months ended October 31, 2016 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding, April 30, 2016 14,811,362 $ 0.01 5.84 Granted 2,518,445 $ 0.01 Canceled / Expired - - Exercised - - Outstanding, October 31, 2016 17,329,807 $ 0.01 5.33 Common Stock Reserved At October 31, 2016, 17,329,807 shares of the Company’s common stock were reserved for issuance of outstanding warrants.

SETTLEMENT AGREEMENT AND STIPUL

SETTLEMENT AGREEMENT AND STIPULATION	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 11 - SETTLEMENT AGREEMENT AND STIPULATION	Settlement Agreement and Stipulation On October 28, 2016, the Company entered into a Settlement Agreement and Stipulation (the “Settlement Agreement”) with Rockwell Capital Partners, Inc. (“RCP”). Pursuant to the Settlement Agreement, as amended, RCP has purchased certain outstanding payables between the Company and designated vendors totaling $109,391 (the “Payables” or “Claims”) and will exchange the portion of such Payables assigned for a Settlement Amount payable in common shares of the Company. In settlement of the Claims, the Company shall issue and deliver to RCP, in one or more tranches as necessary, shares of the Company’s common stock (“Common Stock”), subject to adjustment and ownership limitations as set forth in the Settlement Agreement, sufficient to satisfy the Claims amount at a 50% discount to market based on the market price during the valuation period as defined in the Settlement Agreement. The Company also issued 7,000,000 shares of Common Stock as a settlement fee on October 31, 2016. On October 28, 2016, a circuit court in Florida issued an order confirming the fairness of the terms of the Settlement Agreement within the meaning of exemption from registration provided by Section 3(a) (10) of the Securities Act of 1933. Subsequent to October 31, 2016, a total of 452,000,000 shares of the Company’s common stock were issued to the RCP (see Note 14).

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 12 - NON-CONTROLLING INTERESTS	On September 23, 2010, the Company, through a reverse merger, acquired 100% of the outstanding shares of Maple Carpenter Creek Holdings, Inc., ("MCCH"), a holding Company, with an 80% interest in Maple Carpenter Creek, LLC ("MCC"), which in turn owned a 95% interest in the subsidiary, Carpenter Creek, LLC ("CC"), and a 98.12% interest in Armadillo Holdings Group Corp. ("AHGC"), which in turn owned an 80% interest in Armadillo Mining Corp. ("AMC"). The non-controlling interest of 1.88% in AHGC was acquired by MCCH on December 21, 2010 in exchange for 31,334 shares of the Company’s common stock resulting in 100% ownership of AHGC. On March 22, 2011, AHGC acquired 14.6% of AMC and on April 30, 2012, an additional 4% interest for a total of 98.6% based upon agreement with the minority interest holder to reduce their interest based upon proportionate share of additional capital contributed to AMC. As of April 13, 2016, the Company assigned AMC to an irrevocable trust (the "Trust"), whose beneficiaries are the existing shareholders of MMEX. AMC through the Trust controls the Hunza coal interest previously owned by the Company. On September 1, 2016, the Company entered into a stock assignment agreement with LatAm Services, LLC (“LatAm”) pursuant to which it assigned MCCH to LatAm. With the assignment of MCCH to LatAm, the Company has exited the Hunza coal project to focus on energy related projects under its new business plan.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 13 - COMMITMENTS AND CONTINGENCIES	Legal There were no legal proceedings against the Company. Operating Lease Commitments The Company acquired the Bolzer Lease pursuant to a September 23, 2010 merger. Subsequently, notice of termination on this lease effective April 26, 2010 was provided by previous management. The Company has recorded an accrued expense for the minimum lease payment of $62,541 for the January 2010 payment.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Oct. 31, 2016
Notes to Financial Statements
NOTE 14 - SUBSEQUENT EVENTS	In accordance with ASC 855-10, all subsequent events have been reported through the filing date as set forth below. Refinery Transaction On March 4, 2017, MMEX Resources Corporation (the “Company”) entered into an agreement with Maple Resources Corporation (“Maple”), a related party, to acquire all of Maple’s right, title and interest (the “Rights”) in plans to build a $450 million, 50,000 barrels per day capacity crude oil refinery in Pecos County, Texas (the “Refinery Transaction” or the “Project”). Pursuant to the Refinery Transaction, the Company agreed to acquire the Rights in exchange for the issuance of 7,000,000,000 new common shares (the “Purchased Shares”). The Refinery Transaction provides for the Company to issue the Purchased Shares in two tranches, of which the First Tranche of 1,500,000,000 shares was issued on March 4, 2017. The Second Tranche of 5,500,000,000 shares is to be issued once the Company’s Articles of Incorporation are amended to increase the number of authorized shares of common stock, as more particularly described below. In addition, the Second Tranche amount of shares will be adjusted (up or down) subject to valuation of the Refinery Transaction by a third party outside consultant. Completion of the Project is subject to the receipt of required governmental permits and completion of required debt and equity financing. Amendments of Articles of Incorporation As of November 29, 2016, the Company amended its articles of incorporation to increase its authorized common shares to 3,000,000,000 shares. On March 7, 2017, the holders of more than 50.1% of the outstanding shares of common stock of the Company executed their written consent in lieu of special meeting approving an amendment and restatement of the articles of incorporation to provide for an increase in the authorized shares of common stock from 3,000,000,000 to 10,000,000,000 shares. In addition, the articles of incorporation will be amended to provide for two classes of common shares: (i) Class A Shares, having one vote per share, and (ii) Class B Shares, with 10 votes per share. All of the currently outstanding shares of common stock will be reclassified as Class A Shares, except that all of the Purchased Shares issued or to be issued in the Refinery transaction will be Class B Shares. Other than the provisions of the voting rights, the two classes of shares of common stock will have equal terms and conditions. Private Placement As the Company continues to expand its business and implement its business strategy, its current monthly cash flow requirements will exceed its near term cash flow from operations. In order to fund its development costs, the Company initiated in fiscal year 2016 a private placement to qualified investors for cash and services. Through the date of the filing of this report, $118,230 cash and $60,000 in services had been received, including $49,200 cash from related parties, for a total of 41,784,320 common shares of the Company and a total of 43,025,313 warrants. The warrants entitle the investors to purchase common shares at exercise prices of $0.0001 and $0.01 per share through March 1, 2022. Of the common shares issued, 1,096,397 shares were issued in July 2016 and a total of 40,687,923 shares were issued in December 2016 and January 2017. Settlement Agreement As discussed in Note 11, on October 28, 2016, the Company entered into a Settlement Agreement) with RCP. Pursuant to the Settlement Agreement, as amended, RCP has purchased certain outstanding payables from the Company for shares of common stock of the Company. The Company’s creditors received a total of $84,782 pursuant to the Settlement Agreement. Beginning in November 2016, we have issued a cumulative total of 489,000,000 common shares pursuant to the Settlement Agreement and, as of March 9, 2017, have terminated any further obligation to issue shares. Our creditors will not receive further funding from the Settlement Agreement. Other Issuances of Common Stock On January 24, 2017, the Company entered into an agreement with a former employee to issue 2,082,190 shares of the Company’s common stock in settlement of accrued salaries of $208,219. On January 24, 2017, the Company issued 28,625,000 shares of its common stock to a consultant in payment of services valued at $5,725. Subsequent to October 31, 2016, the Company issued a total of 30,000,000 shares of its common stock to investors for cash of $6,000.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING (POLICIES)	6 Months Ended
	Oct. 31, 2016
Summary Of Significant Accounting Policies Policies
Use of 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 reported amounts of assets and liabilities, and 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. Actual results could differ from those estimates.
Derivative liabilities	In a series of subscription agreements, we have issued warrants that contain certain anti-dilution provisions that we have identified as derivatives. We estimate the fair value of the derivatives using multinomial lattice models that value the warrants based on a probability weighted cash flow model using projections of the various potential outcomes. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility and management’s estimates of various potential equity financing transactions. These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.
Fair value of financial instruments	Under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, Financial Instruments, An entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value using a hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy prioritized the inputs into three levels that may be used to measure fair value: Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in markets that are not active. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows: October 31, 2016 Total Level 1 Level 2 Level 3 Derivative liabilities $ 362,511 $ - $ - $ 362,511 April 30, 2016 Total Level 1 Level 2 Level 3 Derivative liabilities $ 395,619 $ - $ - $ 395,619
Basic and diluted loss per share	Basic net income or loss per share is calculated by dividing net income or loss (available to common stockholders) by the weighted average number of common shares outstanding for the period. Diluted income or loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, warrants, convertible debt and convertible preferred stock, were exercised or converted into common stock. For the three months and six months ended October 31, 2016, potential dilutive shares had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share; therefore, basic net loss per share is the same as diluted net loss per share.
Issuance of shares for non-cash consideration	The Company accounts for the issuance of equity instruments to acquire goods and/or services based on the fair value of the goods and services or the fair value of the equity instrument at the time of issuance, whichever is more reliably determinable. The Company's accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows the provisions of the standards issued by the FASB. The measurement date for the fair value of the equity instruments issued is determined as the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor's performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement.
Reclassifications	Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation.
Recently issued accounting pronouncements	In January 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-4, “Intangibles – Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment.” This update simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. An entity should apply the amendments in this update on a prospective basis. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition. That disclosure should be provided in the first annual period and in the interim period within the first annual period when the entity initially adopts the amendments in this update. A public business entity that is an SEC filer should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement. In January 2017, the FASB issued ASU No. 2017-1, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” The amendments in this update clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments of this ASU are effective for public business entities for annual periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. The amendments in this Update are to be applied prospectively on or after the effective date. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement. In October 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-17, “Consolidation (Topic 810): Interests Held Through Related Parties That are Under Common Control.” This update amends the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (“VIE”) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The primary beneficiary of a VIE is the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently unable to determine the impact on its consolidated financial statements of the adoption of this new accounting pronouncement. Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations.

BACKGROUND, ORGANIZATION AND 21

BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Tables)	6 Months Ended
	Oct. 31, 2016
Background Organization And Basis Of Presentation Tables
Entity operational details	The accompanying condensed consolidated financial statements include the accounts of the following entities, all of which the Company maintains control through a majority ownership: Name of Entity % Form of Entity State of Incorporation Relationship MMEX Resources Corporation (“MMEX”) - Corporation Nevada Parent MCC Merger, Inc. (“MCCM”) 100% Corporation Delaware Holding Subsidiary Maple Carpenter Creek Holdings, Inc. (“MCCH”) 100% Corporation Delaware Subsidiary Maple Carpenter Creek, LLC (“MCC”) 80% LLC Nevada Subsidiary Carpenter Creek, LLC (“CC”) 95% LLC Delaware Subsidiary Armadillo Holdings Group Corp. (“AHGC”) 100% Corporation British Virgin Isles Subsidiary Armadillo Mining Corp. (“AMC”) 98.6% Corporation British Virgin Isles Subsidiary

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Oct. 31, 2016
Summary Of Significant Accounting Policies Tables
Summary of derivative liabilities	Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows: October 31, 2016 Total Level 1 Level 2 Level 3 Derivative liabilities $ 362,511 $ - $ - $ 362,511 April 30, 2016 Total Level 1 Level 2 Level 3 Derivative liabilities $ 395,619 $ - $ - $ 395,619

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Oct. 31, 2016
Property And Equipment Tables
Property and Equipment	Property and equipment consisted of the following at: October 31, 2016 April 30, 2016 Computer software and hardware $ 25,023 $ 25,023 Less accumulated depreciation and amortization (25,023 ) (24,637 ) $ - $ 386

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Oct. 31, 2016
Accrued Expenses Tables
Accrued expenses	Accrued expenses consisted of the following at: October 31, 2016 April 30, 2016 Accrued payroll $ 240,059 $ 240,309 Accrued consulting 75,633 75,633 Accrued interest 742,529 670,324 Other 62,541 62,541 $ 1,120,762 $ 1,048,807

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Oct. 31, 2016
Income Taxes Tables
Notes payable, currently in default	Notes payable, currently in default, consist of the following at: October 31, 2016 April 30, 2016 Note payable to an unrelated party, maturing July 15, 2010, with interest at 10% $ 300,000 $ 300,000 Note payable to an unrelated party, maturing December 31, 2010, with interest at 10% 25,000 25,000 Note payable to an unrelated party, maturing January 27, 2012, with interest at 25% 50,000 50,000 $ 375,000 $ 375,000
Convertible notes payable, currently in default	Convertible notes payable, currently in default, consist of the following at: October 31, 2016 April 30, 2016 Note payable to an accredited investor, maturing March 1, 2013, with interest at 1.87% per month, secured with 900,000 common shares of the Company owned by the president and CEO of the Company $ 120,000 $ 120,000 Note payable to an unrelated party, maturing March 18, 2014, with interest at 10% 75,001 75,001 Total $ 195,001 $ 195,001

DERIVATIVE LIABILITIES (Tables)

DERIVATIVE LIABILITIES (Tables)	6 Months Ended
	Oct. 31, 2016
Derivative Liabilities Tables
DERIVATIVE LIABILITIES	During the six months ended October 31, 2016, we had the following activity in our derivative liabilities: Balance, April 30, 2016 $ 395,619 Change in fair value of derivative liabilities (33,108 ) Balance, October 31, 2016 $ 362,511

STOCKHOLDERS DEFICIT (Tables)

STOCKHOLDERS DEFICIT (Tables)	6 Months Ended
	Oct. 31, 2016
Changes In Stockholders Equity Deficit Tables
Summary of stock option activity	A summary of stock option activity during the six months ended October 31, 2016 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding, April 30, 2016 2,000,000 $ 0.35 5.85 Granted - - Canceled / Expired - - Exercised - - Outstanding, October 31, 2016 2,000,000 $ 0.35 5.35
Summary of warrant activity	A summary of warrant activity during the six months ended October 31, 2016 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding, April 30, 2016 14,811,362 $ 0.01 5.84 Granted 2,518,445 $ 0.01 Canceled / Expired - - Exercised - - Outstanding, October 31, 2016 17,329,807 $ 0.01 5.33

BACKGROUND, ORGANIZATION AND 28

BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Details)	6 Months Ended
	Oct. 31, 2016
State of Incorporation	Nevada
Mmex Resources Corporation [Member]
Ownership Percentage	-
Form of Entity	Corporation
State of Incorporation	Nevada
Relationship	Parent
Mcc Merger Inc [Member]
Ownership Percentage	100%
Form of Entity	Corporation
State of Incorporation	Delaware
Relationship	Holding Subsidiary
Maple Carpenter Creek Holdings Inc [Member]
Ownership Percentage	100%
Form of Entity	Corporation
State of Incorporation	Delaware
Relationship	Subsidiary
Maple Carpenter Creek Llc [Member]
Ownership Percentage	80%
Form of Entity	LLC
State of Incorporation	Nevada
Relationship	Subsidiary
Carpenter Creek Llc [Member]
Ownership Percentage	95%
Form of Entity	LLC
State of Incorporation	Delaware
Relationship	Subsidiary
Armadillo Holdings Group Corp [Member]
Ownership Percentage	100%
Form of Entity	Corporation
State of Incorporation	British Virgin Isles
Relationship	Subsidiary
Armadillo Mining Corp [Member]
Ownership Percentage	98.6%
Form of Entity	Corporation
State of Incorporation	British Virgin Isles
Relationship	Subsidiary

BACKGROUND, ORGANIZATION AND 29

BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)	6 Months Ended
	Oct. 31, 2016
Background Organization And Basis Of Presentation Details Narrative
State Country Name	Nevada
Date of incorporation	May 19, 2005
Description of stock issued	Company to issue up to 3,000,000,000 common shares and 10,000,000 preferred shares.

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Derivative liability	$ 362,511	$ 395,619
Level 1 [Member]
Derivative liability
Level 2 [Member]
Derivative liability
Level 3 [Member]
Derivative liability	$ 362,511	$ 395,619

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Going Concern Details Narrative
Accumulated deficit	$ (30,364,670)	$ (30,155,127)
Total Stockholders' Deficit	$ (2,932,519)	$ (2,801,699)

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	May 08, 2015	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016	Oct. 09, 2014
Reimbursed amount outstanding		$ 31,633		$ 31,633		$ 31,633
Loss on extinguishment of debt			$ 48,050		$ (1,365,521)
Accounts payable - related party		4,760		4,760
Accrued expenses - related party		$ 67,545		$ 67,545		64,420
Maple Gas Corporation [Member]
Default in convertible notes payable							$ 1,650,000
Converted note common shares	194,999,999
Convertible note per share	$ 0.01
Loss on extinguishment of debt	$ 975,000
Stock payable obligation						$ 2,925,000
related party owned by Mr. Jack W. Hanks [Member]
Default in convertible notes payable							120,000
Director and officer of the Company [Member]
Default in convertible notes payable							$ 180,000

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Property And Equipment Details
Computer software and hardware	$ 25,023	$ 25,023
Less accumulated depreciation and amortization	(25,023)	(24,637)
Property and equipment, net		$ 386

Property and Equipment (Detai34

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Property And Equipment Details Narrative
Depreciation and amortization expense	$ 62	$ 375	$ 386	$ 1,261

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Total Accrued Expenses	$ 1,120,762	$ 1,048,807
Accrued Payroll [Member]
Total Accrued Expenses	240,059	240,309
Accrued Consulting [Member]
Total Accrued Expenses	75,633	75,633
Accrued Interest [Member]
Total Accrued Expenses	742,529	670,324
Other [Member]
Total Accrued Expenses	$ 62,541	$ 62,541

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Notes payable	$ 375,000	$ 375,000
Note Payable [Member]
Notes payable	300,000	300,000
Note payable One [Member]
Notes payable	25,000	25,000
Note payable Two [Member]
Notes payable	$ 50,000	$ 50,000

NOTES PAYABLE (Details 1)

NOTES PAYABLE (Details 1) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Convertible notes payable	$ 195,001	$ 195,001
Convertible Notes Payable [Member]
Convertible notes payable	120,000	120,000
Convertible Notes Payable One [Member]
Convertible notes payable	$ 75,001	$ 75,001

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	Oct. 31, 2016	Apr. 30, 2016	Jan. 02, 2013
Accrued interest	$ 297,102	$ 276,477
Accrued interest payable on convertible notes payable	$ 129,272	$ 112,058
Common stock, par value	$ 0.001	$ 0.001
Convertible Notes Payable [Member]
New notes issued			120,000
Note interest rste			1.87%
Increase to debt discount			$ 30,000
Issue of shares			300,000
Note secured by common stock			900,000
Common stock, par value			$ 0.10

CONVERTIBLE PREFERRED STOCK (De

CONVERTIBLE PREFERRED STOCK (Details Narrative) - USD ($)	Jan. 06, 2012	Jun. 30, 2011	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016
loss on extinguishment of debt				$ 48,050		$ (1,365,521)
Interest expense			80,700	36,107	116,939	456,997
Convertible Preferred Stock [Member]
Share issued		360,000
Investment		$ 360,000
Conversion price	$ 0.10475	$ 1.25
Preferred Stock dividend rate		25.00%
Accrued dividends	$ 312,500		316,165		316,165		$ 281,789
Accrued dividend converted into common shares	2,983,293
loss on extinguishment of debt	$ 75,328
Warrent issued		360,000
Common stock exercise price		$ 0.60
Remaining face value of Preferred Stock			137,500		137,500		$ 137,500
Interest expense			$ 80,700	$ 36,107	$ 116,939	$ 456,997

DERIVATIVE LIABILITIES (Details

DERIVATIVE LIABILITIES (Details)	6 Months Ended
	Oct. 31, 2016USD ($)
Notes to Financial Statements
Derivative liabilities	$ 395,619
Change in fair value of derivative liabilities	(33,108)
Derivative liabilities	$ 362,511

DERIVATIVE LIABILITIES (Detai41

DERIVATIVE LIABILITIES (Details Narrative)	6 Months Ended
	Oct. 31, 2016
Probability of future financing	100.00%
Minimum [Member]
Risk-free interest rates	1.03%
Volatility	103.00%
Maximum [Member]
Risk-free interest rates	2.49%
Volatility	249.00%

STOCKHOLDERS_ DEFICIT (Details)

STOCKHOLDERS’ DEFICIT (Details)	6 Months Ended
	Oct. 31, 2016$ / sharesshares
Number of options
Beginning Balance | shares	2,000,000
Granted | shares
Canceled / Expired | shares
Exercised | shares
Ending Balance | shares	2,000,000
Weighted Average Exercise Price Per share
Beginning Balance | $ / shares	$ 0.35
Granted | $ / shares
Canceled / Expired | $ / shares
Exercised | $ / shares
Ending Balance | $ / shares	$ 0.35
Weighted Average Remaining Contractual Life (in years) Beginning	5 years 10 months 6 days
Weighted Average Remaining Contractual Life (in years) Outstanding Ending	5 years 4 months 6 days

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details 1)	6 Months Ended
	Oct. 31, 2016$ / sharesshares
Number of warrants
Beginning Balance | shares	2,000,000
Granted | shares
Canceled / Expired | shares
Exercised | shares
Ending Balance | shares	2,000,000
Weighted Average Exercise Price Per Share
Beginning Balance | $ / shares	$ 0.35
Granted | $ / shares
Canceled / Expired | $ / shares
Exercised | $ / shares
Ending Balance | $ / shares	$ 0.35
Weighted Average Remaining Contractual Life (in years) Beginning	5 years 10 months 6 days
Weighted Average Remaining Contractual Life (in years) Outstanding Ending	5 years 4 months 6 days
Warrants [Member]
Number of warrants
Beginning Balance | shares	14,811,362
Granted | shares	2,518,445
Canceled / Expired | shares
Exercised | shares
Ending Balance | shares	17,329,807
Weighted Average Exercise Price Per Share
Beginning Balance | $ / shares	$ 0.01
Granted | $ / shares	0.01
Canceled / Expired | $ / shares
Exercised | $ / shares
Ending Balance | $ / shares	$ 0.01
Weighted Average Remaining Contractual Life (in years) Beginning	5 years 10 months 2 days
Weighted Average Remaining Contractual Life (in years) Outstanding Ending	5 years 3 months 29 days

STOCKHOLDERS_ DEFICIT (Detail44

STOCKHOLDERS’ DEFICIT (Details Narrative) - USD ($)	6 Months Ended
	Oct. 31, 2016	Jul. 12, 2016	May 02, 2016	Apr. 30, 2016	Apr. 06, 2016	Mar. 07, 2012
Common stock, Authorized	3,000,000,000			3,000,000,000
Common stock shares Issued	383,528,409			180,432,013
Private placement for cash	$ 32,384
Related transaction	32,384
Derivative liabilities	$ 362,511
Number of options	2,000,000			2,000,000
Stock options exercisable	$ 0.35			$ 0.35
Common stock reserved	17,329,807
Common stock issued for settlement, Shares	7,000,000
Common stock issued for settlement, Amount	$ 34,300
Authorized Shares [Member]
Increase authorized common share					1,000,000,000
Common stock, Authorized					3,000,000
Preferred stock Authorized					10,000,000
Stock Issuances [Member]
Common stock shares Issued		1,096,397	194,999,999
Common stock subscriptions reducing		$ 10,000	$ 2,925,000
Stock Options [Member]
Number of options						2,000,000
Stock options exercisable						$ 0.35

SETTLEMENT AGREEMENT AND STIP45

SETTLEMENT AGREEMENT AND STIPULATION (Details Narrative)	6 Months Ended
	Oct. 31, 2016USD ($)shares
Notes to Financial Statements
Payables | $	$ 109,391
Common stock issued for settlement, Shares	7,000,000
Discount in settlement for claims	50.00%
Common stock issued for RCP	452,000,000

NON-CONTROLLING INTERESTS (Deta

NON-CONTROLLING INTERESTS (Details Narrative) - shares	Apr. 30, 2012	Mar. 22, 2011	Dec. 21, 2010	Sep. 23, 2010
AHGC [Member]
Controling interest			100.00%	98.12%
Non-controlling interest			1.88%
Exchange shares			31,334
Acquired of AMC		14.60%
Additional interest	4.00%
Total interest	98.60%
MCCH [Member]
Controling interest				100.00%
MCC [Member]
Controling interest				80.00%
CC [Member]
Controling interest				95.00%
AMC [Member]
Controling interest				80.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Apr. 26, 2010USD ($)
Commitments And Contingencies Details Narrative
Minimum lease payment	$ 62,541

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)

Mar. 07, 2017$ / sharesshares

Mar. 04, 2017USD ($)Barrelsshares

Mar. 09, 2017USD ($)shares

Jan. 31, 2017shares

Jan. 24, 2017USD ($)shares

Jan. 13, 2017USD ($)$ / sharesshares

Dec. 31, 2016shares

Nov. 29, 2016shares

Oct. 31, 2016USD ($)shares

Jul. 31, 2016shares

Apr. 30, 2016USD ($)shares

Oct. 31, 2015USD ($)

Apr. 30, 2015USD ($)

Common stock, Authorized

3,000,000,000

3,000,000,000

Cash | $

$ 209

$ 1,030

$ 2,401

$ 141

Private Placement [Member]

Common shares

1,096,397

Qualified investor [Member]

Cash | $

$ 2,500

Common shares

12,500,000

Subsequent Event [Member] | Private Placement [Member]

Cash | $

$ 118,230

Services | $

60,000

Cash from related party | $

$ 49,200

Common shares

40,687,923

41,784,320

40,687,923

Warrants

43,025,313

Subsequent Event [Member] | Private Placement [Member] | Minimum [Member]

Common shares exercise price | $ / shares

$ 0.0001

Subsequent Event [Member] | Private Placement [Member] | Maximum [Member]

Common shares exercise price | $ / shares

$ 0.01

Subsequent Event [Member] | Settlement Agreement and Stipulation [Member]

Company’s creditors received | $

$ 84,782

Common stock issued to RCP

489,000,000

Subsequent Event [Member] | Amendment of Articles of Incorporation [Member]

Common stock, Authorized

3,000,000,000

Outstanding shares percentage for writen consent

more than 50.1%

Votes per share | $ / shares

$ 10

Subsequent Event [Member] | Amendment of Articles of Incorporation [Member] | Minimum [Member]

Common stock, Authorized

3,000,000,000

Subsequent Event [Member] | Amendment of Articles of Incorporation [Member] | Maximum [Member]

Common stock, Authorized

10,000,000,000

Subsequent Event [Member] | Consultant [Member]

Services | $

$ 5,725

Common shares

28,625,000

Subsequent Event [Member] | Empolyee [Member]

Common shares

2,082,190

Accrued salaries | $

$ 208,219

Subsequent Event [Member] | Maple [Member]

Related party transaction | $

$ 450,000,000

Crude oil refines per day | Barrels

50,000

Exchange of new common share

7,000,000,000

Company to issue the purchase shares

two tranches

First tranch shares issued

1,500,000,000

Second tranch shares issued

5,500,000,000