Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jan. 31, 2022 | Mar. 16, 2022 | |
Details | ||
Registrant CIK | 0001490054 | |
Fiscal Year End | --04-30 | |
Registrant Name | VERDE BIO HOLDINGS, INC. | |
SEC Form | 10-Q | |
Period End date | Jan. 31, 2022 | |
Tax Identification Number (TIN) | 30-0678378 | |
Number of common stock shares outstanding | 1,167,265,468 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Shell Company | false | |
Small Business | true | |
Emerging Growth Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-54524 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 5750 Genesis Court | |
Entity Address, Address Line Two | Suite 220B | |
Entity Address, City or Town | Frisco | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 75034 | |
Country Region | 972 | |
City Area Code | 217 | |
Local Phone Number | 4080 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jan. 31, 2022 | Apr. 30, 2021 |
Current Assets | ||
Cash | $ 711,131 | $ 2,087,897 |
Accounts receivable | 220,155 | 86,744 |
Prepaid expenses | 26,856 | 32,392 |
Total current assets | 958,142 | 2,207,033 |
Non-current assets | ||
Operating Lease, Right-of-Use Asset | 83,920 | 115,478 |
Property and equipment, net | 2,605,239 | 0 |
Oil and natural gas properties, net based on the full cost method of accounting | 1,801,298 | 895,487 |
Total assets | 5,448,599 | 3,217,998 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 199,495 | 211,769 |
Convertible debenture | 0 | 1,203 |
Derivative liability | 0 | 8,519 |
Current portion of operating lease liability | 54,406 | 47,583 |
Convertible preferred Series B stock liability | 0 | 214,940 |
Warrant liabilities | 1,228,018 | 0 |
Total Current Liabilities | 1,481,919 | 484,014 |
Non-current portion of operating lease liability | 36,526 | 78,228 |
Total Liabilities | 1,518,445 | 562,242 |
STOCKHOLDERS' EQUITY | ||
Common Stock Authorized -5,000,000,000 common shares, par value of $0.001 per share Issued and outstanding: 1,164,765,468 and 683,084,699 common shares, respectively | 1,167,066 | 683,085 |
Common stock issuable | 0 | 676,250 |
Additional paid-in capital | 16,549,252 | 12,132,666 |
Accumulated deficit | (13,834,473) | (10,836,745) |
Total Stockholders' Equity | 3,882,345 | 2,655,756 |
Total Liabilities and Equity | 5,448,599 | 3,217,998 |
Series C Preferred Stock | ||
STOCKHOLDERS' EQUITY | ||
Preferred Stock, Value | 1 | 0 |
TEMPORARY EQUITY | ||
Preferred Stock, Value | 1 | 0 |
Series C preferred stock issuable | 40,000 | 0 |
Series C accrued dividends | 7,808 | 0 |
Total Temporary Equity | 47,809 | 0 |
Series A Preferred Stock | ||
STOCKHOLDERS' EQUITY | ||
Preferred Stock, Value | 500 | 500 |
TEMPORARY EQUITY | ||
Preferred Stock, Value | $ 500 | $ 500 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parenthetical - $ / shares | Jan. 31, 2022 | Apr. 30, 2021 |
Preferred Stock, Shares Authorized | 10,000,000 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 5,000,000,000 | 5,000,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 1,164,765,468 | 683,084,699 |
Common Stock, Shares, Outstanding | 1,164,765,468 | 683,084,699 |
Series C Preferred Stock | ||
Preferred Stock, Shares Authorized | 1,400 | 1,400 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 1,000 | 0 |
Preferred Stock, Shares Outstanding | 1,000 | 0 |
Series A Preferred Stock | ||
Preferred Stock, Shares Authorized | 500,000 | 500,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 500,000 | 500,000 |
Preferred Stock, Shares Outstanding | 500,000 | 500,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | |
Revenue | ||||
Mineral property and royalty revenues | $ 301,567 | $ 2,319 | $ 509,579 | $ 2,319 |
Operating Expenses | ||||
Consulting fees | 32,450 | 0 | 187,365 | 40,800 |
Depletion expense | 227,256 | 0 | 334,568 | 0 |
General and administrative | 411,887 | 60,518 | 1,085,575 | 157,562 |
Impairment of oil and gas properties | 0 | 0 | 1,266,046 | 0 |
Depreciation expense | 6,280 | 0 | 6,280 | 0 |
Management fees | 0 | 0 | 0 | 204,000 |
Professional fees | 37,467 | 42,659 | 140,224 | 140,030 |
Project expenditures | 31,834 | 0 | 219,126 | 0 |
Total Operating Expenses | 747,174 | 103,177 | 3,239,184 | 542,392 |
Net Operating Loss | (445,607) | (100,858) | (2,729,605) | (540,073) |
Other Income (Expenses) | ||||
Commitment fees | 0 | (27,413) | 0 | (27,413) |
Finance charges | (272,478) | (83,563) | (272,845) | (258,891) |
Gain on change in fair value of derivative liability | 0 | 237,952 | 0 | 265,095 |
Gain (loss) on extinguishment of debt | 0 | (30,455) | 4,722 | (52,656) |
Total Other Income (Expenses) | (272,478) | 96,521 | (268,123) | (73,865) |
Net Loss | (718,085) | (4,337) | (2,997,728) | (613,938) |
Series C Preferred Stock Dividends | (7,808) | 0 | (7,808) | 0 |
Net Loss to Common Shareholders | $ (725,893) | $ (4,337) | $ (3,005,536) | $ (613,938) |
Net Loss Per Share - Basic and Diluted | $ 0 | $ 0 | $ 0 | $ (0.02) |
Weighted Average Shares Outstanding - Basic and Diluted | 1,165,335,033 | 50,998,670 | 1,129,904,130 | 38,372,505 |
Consolidated Statement of Stock
Consolidated Statement of Stockholder's Deficit - USD ($) | Preferred Stock | Common Stock | Additional Paid-in Capital | Retained Earnings | Total | Shares Issuable |
Stockholders' Equity Attributable to Parent, Beginning Balance at Apr. 30, 2020 | $ 500 | $ 1,830 | $ 4,384,537 | $ (7,521,745) | $ (3,134,878) | $ 0 |
Shares, Outstanding, Beginning Balance at Apr. 30, 2020 | 500,000 | 1,829,867 | ||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 380,446 | |||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 10,705,035 | |||||
Beneficial conversion feature | $ 0 | $ 0 | 71,852 | 0 | 71,852 | 0 |
Shares issued for commitment fees | $ 914 | 26,499 | 0 | 27,413 | 0 | |
Shares issued for commitment fees, shares | 913,756 | |||||
Shares issuable for oil and gas property | 0 | $ 0 | 0 | 0 | 126,500 | 126,500 |
Shares issuable for debt settlement | 0 | 0 | 0 | 0 | 135,000 | 135,000 |
Net Loss | $ 0 | $ 0 | 0 | (613,938) | (613,938) | 0 |
Shares, Outstanding, Ending Balance at Jan. 31, 2021 | 500,000 | 58,651,734 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance at Jan. 31, 2021 | $ 500 | $ 58,652 | 5,497,387 | (8,135,683) | (2,317,644) | 261,500 |
Shares issued for services | 249,900 | |||||
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments | 0 | 10,705 | 369,741 | 0 | 380,446 | 0 |
Conversion of Stock, Amount Issued | 0 | $ 6,303 | 119,758 | 0 | 126,061 | 0 |
Conversion of Stock, Shares Issued | 6,303,000 | |||||
Stock Issued During Period, Value, New Issues | 0 | $ 4,400 | 64,600 | 0 | 69,000 | 0 |
Stock Issued During Period, Shares, New Issues | 4,400,000 | |||||
Rounding shares (Reverse split) | 0 | $ 0 | 0 | 0 | 0 | 0 |
Rounding shares (Reverse split), Shares | 76 | |||||
Stock Issued During Period, Value, Other | 0 | $ 24,500 | 225,400 | 0 | 249,900 | 0 |
Stock Issued During Period, Shares, Other | 24,500,000 | |||||
Shares issued for mineral properties | 0 | $ 10,000 | 235,000 | 0 | 245,000 | 0 |
Shares issued for mineral properties, shares | 10,000,000 | |||||
Stockholders' Equity Attributable to Parent, Beginning Balance at Oct. 31, 2020 | $ 500 | $ 49,261 | 5,229,754 | (8,131,346) | (2,851,831) | 0 |
Shares, Outstanding, Beginning Balance at Oct. 31, 2020 | 500,000 | 49,260,578 | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 5,075,900 | |||||
Beneficial conversion feature | $ 0 | $ 0 | 29,322 | 0 | 29,322 | 0 |
Shares issued for commitment fees | $ 914 | 26,499 | 0 | 27,413 | 0 | |
Shares issued for commitment fees, shares | 913,756 | |||||
Shares issuable for oil and gas property | 0 | $ 0 | 0 | 0 | 126,500 | 126,500 |
Shares issuable for debt settlement | 0 | 0 | 0 | 0 | 135,000 | 135,000 |
Net Loss | $ 0 | $ 0 | 0 | (4,337) | (4,337) | |
Shares, Outstanding, Ending Balance at Jan. 31, 2021 | 500,000 | 58,651,734 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance at Jan. 31, 2021 | $ 500 | $ 58,652 | 5,497,387 | (8,135,683) | (2,317,644) | 261,500 |
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments | 0 | 5,076 | 166,184 | 0 | 171,260 | 0 |
Conversion of Stock, Amount Issued | 0 | $ 1,501 | 28,528 | 0 | 30,029 | 0 |
Conversion of Stock, Shares Issued | 1,501,500 | |||||
Stock Issued During Period, Value, New Issues | 0 | $ 1,900 | 17,100 | 0 | 19,000 | $ 0 |
Stock Issued During Period, Shares, New Issues | 1,900,000 | |||||
Stockholders' Equity Attributable to Parent, Beginning Balance at Apr. 30, 2021 | $ 500 | $ 683,085 | 12,132,666 | (10,836,745) | 2,655,756 | |
Shares, Outstanding, Beginning Balance at Apr. 30, 2021 | 500,000 | 683,084,699 | ||||
Series C preferred stock dividend | $ 0 | (7,808) | 0 | (7,808) | ||
Stock Issued During Period, Value, Conversion of Convertible Securities | 81,250 | |||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 6,500,000 | |||||
Beneficial conversion feature | 0 | |||||
Share issuance costs | $ 0 | $ 0 | (33,165) | 0 | (33,165) | |
Net Loss | $ 0 | $ 0 | 0 | (2,997,728) | (2,997,728) | |
Shares, Outstanding, Ending Balance at Jan. 31, 2022 | 500,000 | 1,167,065,468 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance at Jan. 31, 2022 | $ 500 | $ 1,167,066 | 16,549,252 | (13,834,473) | 3,882,345 | |
Shares issued for services | 0 | $ 6,900 | 82,950 | 0 | 89,850 | |
Stock Issued During Period, Shares, Issued for Services | 6,900,000 | |||||
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments | 0 | $ 6,500 | 74,750 | 0 | 0 | |
Conversion of Stock, Amount Issued | 0 | $ 15,031 | 199,909 | 0 | 214,940 | |
Conversion of Stock, Shares Issued | 15,030,769 | |||||
Stock Issued During Period, Value, New Issues | 0 | $ 451,550 | 4,063,950 | 0 | 3,920,500 | |
Stock Issued During Period, Shares, New Issues | 451,550,000 | |||||
Common shares issued to settle accounts payable, Value | 0 | $ 4,000 | 36,000 | 0 | 40,000 | |
Common shares issued to settle accounts payable, Shares | 4,000,000 | |||||
Stockholders' Equity Attributable to Parent, Beginning Balance at Oct. 31, 2021 | $ 500 | $ 1,164,766 | 16,533,350 | (13,116,388) | 4,582,228 | |
Shares, Outstanding, Beginning Balance at Oct. 31, 2021 | 500,000 | 1,164,765,468 | ||||
Series C preferred stock dividend | $ 0 | $ 0 | (7,808) | 0 | (7,808) | |
Net Loss | $ 0 | $ 0 | 0 | (718,085) | (718,085) | |
Shares, Outstanding, Ending Balance at Jan. 31, 2022 | 500,000 | 1,167,065,468 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance at Jan. 31, 2022 | $ 500 | $ 1,167,066 | 16,549,252 | (13,834,473) | 3,882,345 | |
Shares issued for services | $ 0 | $ 2,300 | $ 23,710 | $ 0 | $ 26,010 | |
Stock Issued During Period, Shares, Issued for Services | 2,300,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Operating Activities | ||
Net Loss | $ (2,997,728) | $ (613,938) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Amortization of discount on convertible debt payable | 115,799 | |
Amortization of right-of-use asset | 31,558 | 0 |
Depletion expense | 334,568 | 0 |
Depreciation expense | 6,280 | 0 |
Increase Decrease in Finance costs | 228,019 | 0 |
Impairment of oil and gas properties | 1,266,046 | 0 |
Loss (gain) on change in fair value of derivative liability | 0 | (265,095) |
Loss (gain) on settlement of debt | (4,722) | 52,656 |
Original issue discount | 0 | 19,056 |
Shares issued for services | 89,850 | 249,900 |
Shares issued or issuable for commitment fees | 40,000 | 27,413 |
Changes in operating assets and liabilities | ||
Accounts receivable | (133,411) | 0 |
Prepaid expenses | 5,536 | 0 |
Accounts payable and accrued liabilities | 27,726 | 155,953 |
Due to and from related parties | 0 | 7,814 |
Right-of-use liability | (34,879) | 0 |
Net Cash Used In Operating Activities | (1,141,157) | (214,648) |
Investing Activities | ||
Acquisition of property and equipment | (2,611,519) | 0 |
Oil and gas property expenditures | (2,506,425) | (3,914) |
Net Cash Used In Investing Activities | (5,117,944) | (3,914) |
Financing Activities | ||
Proceeds from issuance of common stock | 3,920,500 | 69,000 |
Proceeds from issuance of series C preferred shares | 1,000,000 | 0 |
Proceeds from convertible debentures | 0 | 137,000 |
Proceeds from advances | 0 | 42,250 |
Proceeds from issuance of PPP Loan - SBA | 0 | 22,917 |
Repayment of convertible debenture | (5,000) | (34,884) |
Payments of Stock Issuance Costs | (33,165) | 0 |
Net Cash Provided by Financing Activities | 4,882,335 | 230,283 |
Change in Cash | (1,376,766) | 11,721 |
Cash - Beginning of Period | 2,087,897 | 1,631 |
Cash - End of Period | 711,131 | 13,352 |
Supplemental Disclosures | ||
Interest paid | 0 | 0 |
Income tax paid | 0 | 0 |
Non-cash investing and financing activities | ||
Beneficial conversion feature | 0 | 71,852 |
Stock Issued During Period, Value, Conversion of Convertible Securities | 81,250 | 380,446 |
Conversion of Stock, Amount Issued | 214,940 | 126,061 |
Common stock issued for acquisition of oil and gas properties | 0 | 245,000 |
Common stock issued for settlement of accounts payable | 40,000 | 0 |
Series C preferred stock accrued dividend | $ 7,808 | $ 0 |
1. Nature of Operations and Con
1. Nature of Operations and Continuance of Business | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
1. Nature of Operations and Continuance of Business | 1. Nature of Operations and Continuance of Business Verde Bio Holdings Inc. (the “Company”) was incorporated in the State of Nevada on February 24, 2010. Currently, the Company is in the business of oil and gas exploration and investment. On March 11, 2020, the World Health Organization declared COVID-19 a global pandemic. This contagious disease outbreak and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, leading to an economic downturn. The impact on the Company has not been significant but management continues to monitor the situation. Going Concern These consolidated financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended January 31, 2022, the Company incurred a net loss of $2,997,728 and used cash of $1,141,157 for operating activities. As at January 31, 2022, the Company had an accumulated deficit of $13,834,473. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing and generating profitable operations from the Company’s future operations. The Company will continue to rely on equity sales of its common shares in order to continue to fund business operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year from the date these financial statements are issued. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
2. Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies (a) The accompanying condensed consolidated interim financial statements of the Company should be read in conjunction with the consolidated interim financial statements and accompany notes filed with the U.S. Securities and Exchange Commission for the year ended April 30, 2021. These interim condensed consolidated interim financial statements are unaudited and have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. These condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in U.S. dollars. The condensed consolidated interim financial statements are comprised of the records of the Company and its wholly owned subsidiary, IP Control Risk Inc., a company incorporated in the State of Nevada, United States. All intercompany transactions have been eliminated on consolidation. The Company’s fiscal year end is April 30. (b) The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. 2. Summary of Significant Accounting Policies (b) The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable relating to oil and gas interests which is based on the operator’s production statements, carrying value of oil and gas properties, the useful life, carrying value, and incremental borrowing rate used for right-of-use assets and lease liabilities, the fair value of convertible debentures, derivative liabilities, stock-based compensation, revenue recognition including the calculation of the reserves and the fair value of the reserves for oil and gas interests, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) The Company computes net loss per share in accordance with ASC 260, Earnings per Share (d) Fair Value Measurements The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by U.S. generally accepted accounting principles. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows: Level 1 – quoted prices for identical instruments in active markets; Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial instruments consist principally of cash, accounts payable and accrued liabilities, notes payable, convertible debentures and amounts due to related parties. The fair value of cash is determined based on Level 1 inputs. There were no transfers into or out of “Level 3” during the periods ended January 31, 2022, and 2021. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. 2. Summary of Significant Accounting Policies (d) Fair Value Measurements (continued) Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. (j) The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
3. Right-of-Use Operating Lease
3. Right-of-Use Operating Lease Asset and Lease Liability | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
3. Right-of-Use Operating Lease Asset and Lease Liability | 3. Right-of-Use Operating Lease Asset and Lease Liability ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the ROU asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the ROU asset result in straight-line rent expense over the lease term. ROU assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. On March 11, 2021, the Company entered into a sublease agreement with a sublandlord regarding its office at 5750 Genesis Court, Suite 220, Frisco, Texas 75036. The agreement was treated as an operating lease in accordance with ASC 842, Lease January 31, 2022 April 30, 2021 $ $ Components of lease expense were as follows: Operating lease cost 31,558 6,642 Supplemental cash flow information related to leases: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 49,822 - Right-of-use assets obtained in exchange for lease obligations: Operating leases - 122,120 Supplemental balance sheet information related to leases: Operating Leases Operating lease right-of-use assets 83,920 115,478 Operating lease liabilities 90,932 125,811 3. Right-of-Use Asset and Lease Liability January 31, 2022 April 30, 2021 Weighted Average Remaining Lease Term Operating leases 1.67 years 2.41 years Weighted Average Discount Rate Operating leases 18% 18% Maturities of lease liabilities are as follows: Year Ending April 30, Operating Leases Operating Leases 2022 16,608 66,430 2023 66,430 66,430 2024 22,143 22,143 Total lease payments 105,181 155,003 Less: imputed interest (14,249) (29,192) Total 90,932 125,811 |
4. Royalty Interests in Oil and
4. Royalty Interests in Oil and Gas Properties | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
4. Royalty Interests in Oil and Gas Properties | 4. Royalty Interests in Oil and Gas Properties January 31, 2022 $ April 30, 2021 $ Opening balance 895,487 - Acquisition costs and exploration costs 2,506,425 2,867,042 Registration costs - 6,440 Depletion expense (334,568) (50,185) Impairment (1,266,046) (1,927,810) Closing balance 1,801,298 895,487 On July 19, 2020, the Company signed a purchase agreement for a 50% right, title and interest to certain oil and gas properties located in the United States in exchange for 10,000,000 shares of common stock of the Company with fair value of $245,000 which was determined based on the fair value of the Company’s common shares on the date of issuance on August 10, 2020. On September 21, 2020, the Company signed a purchase agreement for a 100% right, title and interest to certain oil and gas properties located in the United States for consideration of 5,000,000 shares of common stock of the Company with a fair value of $126,500. On March 5, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Adams County, Colorado for cash consideration of $150,000. On March 16, 2021, the Company signed a purchase and sale agreement for 50% right, title and interest to certain oil and gas properties located in Weld County, Colorado for cash consideration of $152,000. On March 18, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Desoto and Sabine Parish, LA and Loving County, Texas for cash consideration of $127,500. 4. Royalty Interests in Oil and Gas Properties continued On March 18, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Adams County, Colorado for cash consideration of $150,000. On March 22, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Weld County, Colorado for cash consideration of $152,000. On March 26, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Red River and Sabine Parish, LA for cash consideration of $380,952. On April 1, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Red River and Desoto Parish, LA for cash consideration of $359,975. On April 1, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Ohio County, West Virginia for cash consideration of $133,000. On April 13, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Laramie County, Wyoming for cash consideration of $502,764. On April 19, 2021, the Company signed a purchase and sale agreement for 100% right, title and interest to certain oil and gas properties located in Howard County, Texas for cash consideration of $430,000. On May 4, 2021, the Company signed a purchase and sale agreement for 100% right, title, and interest to certain properties located in Laramie County, Wyoming for cash consideration of $431,245. On May 13, 2021, the Company signed a purchase and sale agreement for 100% right, title, and interest to certain properties located in Colorado and Ohio for cash consideration of $1,100,000. On July 16, 2021, the Company signed a purchase and sale agreement for 100% right, title, and interest to certain properties located in Bienville, Louisiana for cash consideration of $800,000. On December 9, 2021, the Company acquired a 100% interest in properties located in Belmont County, Ohio for cash consideration of $175,000. During the period ended January 31, 2022, the Company recorded an impairment loss of $1,266,046 on its producing oil and gas properties due to an excess of carrying value above expected future cash flows to be generated from its producing oil and gas properties. |
5. Property and Equipment
5. Property and Equipment | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
5. Property and Equipment | 5. Property and Equipment Land $ Vehicles $ Total $ Cost Balance, April 30, 2021 - - - Additions 2,485,924 125,595 2,611,519 Balance, January 31, 2022 2,485,924 125,595 2,611,519 Accumulated depreciation Balance, April 30, 2021 – – – Additions – 6,280 6,280 - 6,280 6,280 Balance, April 30, 2021 - - - Balance, January 31, 2022 2,485,924 119,315 2,605,239 5. Property and Equipment ( continued) As at January 31, 2022, the vehicles have an estimated useful live of 5 years and were placed into use on November 1, 2021. During the period ended January 31, 2022, the Company recorded depreciation expense of $6,280 (2021- $nil). |
6. Related Party Transactions
6. Related Party Transactions | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
6. Related Party Transactions | 6. Related Party Transactions (a) (b) |
7. Derivative Liability
7. Derivative Liability | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
7. Derivative Liability | 7. Derivative Liability The fair value of the derivative liability was calculated using a Binomial model. The fair value of the derivative liability is revalued on each balance sheet date with corresponding gains and losses recorded in the consolidated statement of operations. As at January 31, 2022, the Company recorded a derivative liability of $nil (April 30, 2021 - $8,519). A summary of the activity of the derivative liability is shown below: $ Balance, April 30, 2021 8,519 Adjustment for conversion (8,519) Balance, January 31, 2022 - |
8. Preferred Stock Liability
8. Preferred Stock Liability | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
8. Preferred Stock Liability | 8. Preferred Stock Liability Series B Preferred Stock On June 13, 2019, the Company designated 1,000,000 shares of preferred stock as Series B. The holders of Series B preferred shares are not entitled to receive dividends except as may be declared by the Board at its sole and absolute discretion. Each Series B preferred share is convertible into common shares according to the following formula: the Stated Value of $1.10 per share of Series B preferred stock divided by the closing price of the Common Stock on the day prior to the conversion. Holders of Series B preferred stock shall not have voting rights. On June 17, 2019, the Company issued 530,000 shares of Series B preferred stock at a fair value of $583,000 based on the stated value of $1.10 per share, in exchange for the settlement of accounts payable of $266,523, notes payable of $990, accrued interest of $535, and management fees of $33,000. As the Series B shares represent an unconditional obligation that the Company must or may settle in a variable number of its equity shares and the monetary value of the obligation is predominantly based on a fixed monetary amount, the 530,000 shares with a balance of $583,000 is recorded as a liability on the balance sheet. During the year ended April 30, 2021, the Company issued 21,441,440 shares of common stock for the conversion of 334,600 shares of Series B preferred stock. During the period ended October 31, 2021, the Company issued 15,030,769 common shares for the conversion of 195,400 Series B preferred stock. As of January 31, 2022, the Company had nil (April 30, 2021 – 195,400) shares of Convertible Preferred Series B Stock with a carrying value of $nil (April 30, 2021 - $214,940). |
9. Common Shares
9. Common Shares | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
9. Common Shares | 9. Common Shares Authorized: 5,000,000,000 common shares with a par value of $0.001 per share. During the three months ended July 31, 2021, the Company issued 451,550,000 common shares at $0.01 per common share for proceeds of $4,515,500, of which $595,000 was received as at April 30, 2021. As part of the financing, the Company paid share issuance costs of $33,165 which is recorded as a charge against additional paid-in capital. On May 4, 4021, the Company issued 3,000,000 common shares with a fair value of $45,300 for consulting services. 9. Common Shares ( continued On May 13, 2021, the Company issued 15,030,769 common shares pursuant to the conversion of 195,400 shares of Series B convertible preferred stock. Refer to Note 8. On May 14, 2021, the Company issued 100,000 common shares with a fair value of $1,330 for consulting services. On May 17, 2021, the Company issued 1,000,000 common shares with a fair value of $10,000 for legal services. On June 21, 2021, the Company issued 100,000 common shares with a fair value of $1,400 for consulting services. On July 15, 2021, the Company issued 100,000 common shares with a fair value of $1,080 for consulting services. On July 22, 2021, the Company issued 3,000,000 common shares with a fair value of $30,000 for consulting services. On August 3, 2021, the Company issued 1,000,000 common shares with a fair value of $10,300 for consulting services. On August 16, 2021, the Company issued 100,000 common shares with a fair value of $1,020 for consulting services. On September 20, 2021, the Company issued 100,000 common shares with a fair value of $1,470 for consulting services. On October 15, 2021, the Company issued 100,000 common shares with a fair value of $1,940 for consulting services. On November 15, 2021, the Company issued 100,000 common shares with a fair value of $1,320 for consulting services. On December 15, 2021, the Company issued 100,000 common shares with a fair value of $970 for consulting services. On January 11, 2022, the Company issued 2,000,000 common shares with a fair value of $22,600 to the spouse of the Chief Executive Officer of the Company for services. On January 17, 2022, the Company issued 100,000 common shares with a fair value of $1,120 for consulting services. |
10. Preferred Shares
10. Preferred Shares | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
10. Preferred Shares | 10. Preferred Shares Authorized: 10,000,000 preferred shares with a par value of $0.001 per share Convertible Preferred Series A stock On April 18, 2017, the Company designated 500,000 shares of preferred stock as Series A. The holders of Series A preferred shares are entitled to receive dividends equal to the amount of the dividend or distribution per share of common stock payable multiplied by the number of shares of common stock the shares of Series A preferred shares held by such holder are convertible into. Each Series A preferred shares is convertible into one common share. Each holder of Series A preferred shares is entitled to cast 10,000 votes for every one Series A preferred share held. Convertible Preferred Series B stock – see Note 8. Convertible Preferred Series C stock In addition to the Series C stock, the Company issued 61,885,671 warrants on December 8, 2021 with a conversion price of $0.01067 per share for a period of five years and 63,157,895 warrants on January 27, 2022 with a conversion price of $0.01045 per share for a period of five years. The fair value of the warrants was $1,228,018 based on the Black-Scholes option pricing model assuming an expected life of 5 years, volatility of 314-318%, risk-free rate of 1.2-1.7%, and no expected dividends. The fair value of the warrants was treated as a liability as it met the conditions of a liability in accordance with ASC 480, Distinguishing Liabilities from Equity. As the fair value of the warrants were greater than the gross proceeds received on the issuance of the Series C shares, the excess difference of $228,019 was recorded in the statement of operations as a finance cost. 10. Preferred Shares ( continued The Series C preferred stock and the accrued dividends relating to the stock are classified as temporary equity. As at January 31, 2022, the Company had 1,000 (April 30, 2021 – nil) shares of Series C stock with a carrying value of $1 (April 30, 2021 - $nil) and recorded accrued dividend payable of $7,808 (April 30, 2021 - $nil) which is included in temporary equity and offset against additional paid in capital. |
11. Share Purchase Warrants
11. Share Purchase Warrants | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
11. Share Purchase Warrants | 11. Share Purchase Warrants Number of warrants Weighted average exercise price $ Balance, April 30, 2021 - - Issued 125,043,566 0.01 Balance, January 31, 2022 125,043,566 0.01 Additional information regarding share purchase warrants as of January 31, 2022 is as follows: Outstanding and exercisable Range of Exercise Prices $ Number of Warrants Weighted Average Remaining Contractual Life (years) 0.01 125,043,566 4.9 125,043,566 4.9 |
12. Commitments and Contingenci
12. Commitments and Contingencies | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
12. Commitments and Contingencies | 12. Commitments and Contingencies On May 28, 2020, the Company and an unrelated party entered into equity financing agreement, whereby the investor shall invest up to $5,000,000 over the period of 36 months pursuant to a “put” option held by the Company, subject to certain limitations. The price of the common shares shall be equal to 80% of the lowest traded price during the last 10 trading days leading up to each put notice, subject to a floor of $0.001 per share. As part of the agreement, the Company issued a convertible promissory note to the unrelated party to offset transaction costs of $20,000, which was deemed as earned upon the execution of the agreement. The note was convertible into common stock of the Company at a fixed price of $0.01, which equals the lowest traded price for the common stock on the trading day preceding the execution of the note. During the year ended April 30, 2021, the convertible promissory note was repaid. As of January 31, 2022, no common shares have been sold pursuant to the equity financing agreement. |
13. Subsequent Events
13. Subsequent Events | 9 Months Ended |
Jan. 31, 2022 | |
Notes | |
13. Subsequent Events | 13. Subsequent Events (a) (b) (c) |
2. Summary of Significant Acc_2
2. Summary of Significant Accounting Policies: (a) Basis of Presentation and Principles of Consolidation (Policies) | 9 Months Ended |
Jan. 31, 2022 | |
Policies | |
(a) Basis of Presentation and Principles of Consolidation | (a) The accompanying condensed consolidated interim financial statements of the Company should be read in conjunction with the consolidated interim financial statements and accompany notes filed with the U.S. Securities and Exchange Commission for the year ended April 30, 2021. These interim condensed consolidated interim financial statements are unaudited and have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. These condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in U.S. dollars. The condensed consolidated interim financial statements are comprised of the records of the Company and its wholly owned subsidiary, IP Control Risk Inc., a company incorporated in the State of Nevada, United States. All intercompany transactions have been eliminated on consolidation. The Company’s fiscal year end is April 30. |
2. Summary of Significant Acc_3
2. Summary of Significant Accounting Policies: (b) Use of Estimates (Policies) | 9 Months Ended |
Jan. 31, 2022 | |
Policies | |
(b) Use of Estimates | (b) The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. 2. Summary of Significant Accounting Policies (b) The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable relating to oil and gas interests which is based on the operator’s production statements, carrying value of oil and gas properties, the useful life, carrying value, and incremental borrowing rate used for right-of-use assets and lease liabilities, the fair value of convertible debentures, derivative liabilities, stock-based compensation, revenue recognition including the calculation of the reserves and the fair value of the reserves for oil and gas interests, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
2. Summary of Significant Acc_4
2. Summary of Significant Accounting Policies: (c) Basic and Diluted Net Loss Per Share (Policies) | 9 Months Ended |
Jan. 31, 2022 | |
Policies | |
(c) Basic and Diluted Net Loss Per Share | (c) The Company computes net loss per share in accordance with ASC 260, Earnings per Share |
2. Summary of Significant Acc_5
2. Summary of Significant Accounting Policies: (d) Fair Value Measurements (Policies) | 9 Months Ended |
Jan. 31, 2022 | |
Policies | |
(d) Fair Value Measurements | (d) Fair Value Measurements The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by U.S. generally accepted accounting principles. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows: Level 1 – quoted prices for identical instruments in active markets; Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial instruments consist principally of cash, accounts payable and accrued liabilities, notes payable, convertible debentures and amounts due to related parties. The fair value of cash is determined based on Level 1 inputs. There were no transfers into or out of “Level 3” during the periods ended January 31, 2022, and 2021. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. 2. Summary of Significant Accounting Policies (d) Fair Value Measurements (continued) Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. |
2. Summary of Significant Acc_6
2. Summary of Significant Accounting Policies: (j) Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Jan. 31, 2022 | |
Policies | |
(j) Recent Accounting Pronouncements | (j) The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
3. Right-of-Use Operating Lea_2
3. Right-of-Use Operating Lease Asset and Lease Liability: Lessee, Operating Lease, Disclosure (Tables) | 9 Months Ended |
Jan. 31, 2022 | |
Tables/Schedules | |
Lessee, Operating Lease, Disclosure | January 31, 2022 April 30, 2021 $ $ Components of lease expense were as follows: Operating lease cost 31,558 6,642 Supplemental cash flow information related to leases: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 49,822 - Right-of-use assets obtained in exchange for lease obligations: Operating leases - 122,120 Supplemental balance sheet information related to leases: Operating Leases Operating lease right-of-use assets 83,920 115,478 Operating lease liabilities 90,932 125,811 3. Right-of-Use Asset and Lease Liability January 31, 2022 April 30, 2021 Weighted Average Remaining Lease Term Operating leases 1.67 years 2.41 years Weighted Average Discount Rate Operating leases 18% 18% |
3. Right-of-Use Operating Lea_3
3. Right-of-Use Operating Lease Asset and Lease Liability: Schedule of Future Minimum Rental Payments for Operating Leases (Tables) | 9 Months Ended |
Jan. 31, 2022 | |
Tables/Schedules | |
Schedule of Future Minimum Rental Payments for Operating Leases | Maturities of lease liabilities are as follows: Year Ending April 30, Operating Leases Operating Leases 2022 16,608 66,430 2023 66,430 66,430 2024 22,143 22,143 Total lease payments 105,181 155,003 Less: imputed interest (14,249) (29,192) Total 90,932 125,811 |
5. Property and Equipment_ Sche
5. Property and Equipment: Schedule of Property and Equipment (Tables) | 9 Months Ended |
Jan. 31, 2022 | |
Tables/Schedules | |
Schedule of Property and Equipment | Land $ Vehicles $ Total $ Cost Balance, April 30, 2021 - - - Additions 2,485,924 125,595 2,611,519 Balance, January 31, 2022 2,485,924 125,595 2,611,519 Accumulated depreciation Balance, April 30, 2021 – – – Additions – 6,280 6,280 - 6,280 6,280 Balance, April 30, 2021 - - - Balance, January 31, 2022 2,485,924 119,315 2,605,239 |
7. Derivative Liability_ Schedu
7. Derivative Liability: Schedule of Derivative Liabilities at Fair Value (Tables) | 9 Months Ended |
Jan. 31, 2022 | |
Tables/Schedules | |
Schedule of Derivative Liabilities at Fair Value | A summary of the activity of the derivative liability is shown below: $ Balance, April 30, 2021 8,519 Adjustment for conversion (8,519) Balance, January 31, 2022 - |
11. Share Purchase Warrants_ Sc
11. Share Purchase Warrants: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables) | 9 Months Ended |
Jan. 31, 2022 | |
Warrant | |
Schedule of Stockholders' Equity Note, Warrants or Rights | Number of warrants Weighted average exercise price $ Balance, April 30, 2021 - - Issued 125,043,566 0.01 Balance, January 31, 2022 125,043,566 0.01 Additional information regarding share purchase warrants as of January 31, 2022 is as follows: Outstanding and exercisable Range of Exercise Prices $ Number of Warrants Weighted Average Remaining Contractual Life (years) 0.01 125,043,566 4.9 125,043,566 4.9 |
1. Nature of Operations and C_2
1. Nature of Operations and Continuance of Business (Details) - USD ($) | 9 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Apr. 30, 2021 | |
Details | |||
Entity Incorporation, Date of Incorporation | Feb. 24, 2010 | ||
Working Capital (Deficit) | $ (2,997,728) | ||
Net Cash Used In Operating Activities | (1,141,157) | $ (214,648) | |
Accumulated deficit | $ (13,834,473) | $ (10,836,745) |
2. Summary of Significant Acc_7
2. Summary of Significant Accounting Policies: (c) Basic and Diluted Net Loss Per Share (Details) - shares | Oct. 31, 2021 | Apr. 30, 2021 |
Details | ||
Potentially dilutive shares outstanding | 11,972,514,065 | 7,718,600 |
3. Right-of-Use Operating Lea_4
3. Right-of-Use Operating Lease Asset and Lease Liability: Lessee, Operating Lease, Disclosure (Details) - USD ($) | 9 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Apr. 30, 2021 | |
Details | |||
Operating Lease Cost1 | $ 31,558 | $ 6,642 | |
Operating Lease, Payments | 49,822 | $ 0 | |
Right-of-use assets obtained in exchange for lease obligations: Operating leases | 0 | $ 122,120 | |
Right Of Use Assets Obtained In Exchange For Lease Obligations | 83,920 | 115,478 | |
Operating Lease, Liability | $ 90,932 | $ 125,811 | |
Weighted Average Remaining Lease Term | 1 year 8 months 1 day | 2 years 4 months 28 days | |
Weighted Average Discount Rate | 18.00% | 18.00% |
3. Right-of-Use Operating Lea_5
3. Right-of-Use Operating Lease Asset and Lease Liability: Schedule of Future Minimum Rental Payments for Operating Leases (Details) - USD ($) | Jan. 31, 2022 | Apr. 30, 2021 |
Details | ||
2022 | $ 16,608 | $ 66,430 |
2023 | 66,430 | 66,430 |
2024 | 22,143 | 22,143 |
Total lease payments | 105,181 | 155,003 |
Less: imputed interest | (14,249) | (29,192) |
Total | $ 90,932 | $ 125,811 |
4. Royalty Interests in Oil a_2
4. Royalty Interests in Oil and Gas Properties (Details) - USD ($) | Jan. 31, 2022 | Apr. 30, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | Apr. 30, 2020 |
Oil and natural gas properties, net based on the full cost method of accounting | $ 1,801,298 | $ 895,487 | $ 1,801,298 | $ 1,801,298 | $ 0 | ||
Acquisition costs and exploration costs | 2,506,425 | 2,867,042 | |||||
Registration costs | 0 | 6,440 | 0 | 0 | |||
Depreciation expense | (334,568) | (50,185) | (6,280) | $ 0 | (6,280) | $ 0 | |
Impairment of oil and gas properties | (1,266,046) | (1,927,810) | 0 | 0 | 1,266,046 | 0 | |
Impairment of oil and gas properties | $ 1,266,046 | $ 1,927,810 | $ 0 | $ 0 | (1,266,046) | 0 | |
RoyaltyAgreement 1 | |||||||
Fair Value of Assets Acquired | 245,000 | ||||||
RoyaltyAgreement 2 | |||||||
Fair Value of Assets Acquired | $ 126,500 | ||||||
RoyaltyAgreement 3 | |||||||
Cash consideration for Purchase and Sale Agreement | 150,000 | ||||||
RoyaltyAgreement 4 | |||||||
Cash consideration for Purchase and Sale Agreement | 152,000 | ||||||
RoyaltyAgreement 5 | |||||||
Cash consideration for Purchase and Sale Agreement | 127,500 | ||||||
RoyaltyAgreement 6 | |||||||
Cash consideration for Purchase and Sale Agreement | 150,000 | ||||||
RoyaltyAgreement 7 | |||||||
Cash consideration for Purchase and Sale Agreement | 152,000 | ||||||
RoyaltyAgreement 8 | |||||||
Cash consideration for Purchase and Sale Agreement | 380,952 | ||||||
RoyaltyAgreement 9 | |||||||
Cash consideration for Purchase and Sale Agreement | 359,975 | ||||||
RoyaltyAgreement 10 | |||||||
Cash consideration for Purchase and Sale Agreement | 133,000 | ||||||
RoyaltyAgreement 11 | |||||||
Cash consideration for Purchase and Sale Agreement | 502,764 | ||||||
RoyaltyAgreement 12 | |||||||
Cash consideration for Purchase and Sale Agreement | 430,000 | ||||||
RoyaltyAgreement 13 | |||||||
Cash consideration for Purchase and Sale Agreement | 431,245 | ||||||
RoyaltyAgreement 14 | |||||||
Cash consideration for Purchase and Sale Agreement | 1,100,000 | ||||||
RoyaltyAgreement 16 | |||||||
Cash consideration for Purchase and Sale Agreement | 800,000 | ||||||
Royalty Agreement 17 | |||||||
Cash consideration for Purchase and Sale Agreement | $ 175,000 |
5. Property and Equipment_ Sc_2
5. Property and Equipment: Schedule of Property and Equipment (Details) - USD ($) | Jan. 31, 2022 | Apr. 30, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2022 | Jan. 31, 2021 |
Land | ||||||
Property and equipment, net | $ 2,485,924 | $ 0 | $ 2,485,924 | $ 2,485,924 | ||
Additions | 2,485,924 | |||||
Property, Plant and Equipment, Gross | 2,485,924 | 2,485,924 | 2,485,924 | |||
Depreciation expense | 0 | |||||
Vehicles | ||||||
Property and equipment, net | 119,315 | 0 | 119,315 | 119,315 | ||
Additions | 125,595 | |||||
Property, Plant and Equipment, Gross | 125,595 | 125,595 | 125,595 | |||
Depreciation expense | 6,280 | |||||
Property and equipment, net | 2,605,239 | 0 | 2,605,239 | 2,605,239 | ||
Additions | 2,611,519 | |||||
Property, Plant and Equipment, Gross | 2,611,519 | 2,611,519 | 2,611,519 | |||
Depreciation expense | $ 334,568 | $ 50,185 | $ 6,280 | $ 0 | $ 6,280 | $ 0 |
6. Related Party Transactions (
6. Related Party Transactions (Details) - USD ($) | 9 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
President | ||
Management Fee Expense | $ 0 | $ 204,000 |
7. Derivative Liability (Detail
7. Derivative Liability (Details) - USD ($) | Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2021 |
Details | |||
Derivative liability | $ 0 | $ 0 | $ 8,519 |
7. Derivative Liability_ Sche_2
7. Derivative Liability: Schedule of Derivative Liabilities at Fair Value (Details) - USD ($) | 12 Months Ended | ||
Apr. 30, 2021 | Jan. 31, 2022 | Oct. 31, 2021 | |
Derivative liability | $ 8,519 | $ 0 | $ 0 |
Adjustment for Conversion | |||
Increase (Decrease) in Derivative Liabilities | $ (8,519) |
8. Preferred Stock Liability (D
8. Preferred Stock Liability (Details) | Jun. 17, 2019shares |
Details | |
Preferred Stock, Shares Issued | 583,000 |
9. Common Shares (Details)
9. Common Shares (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | Apr. 30, 2021 | |
Common Stock, Shares Authorized | 5,000,000,000 | 5,000,000,000 | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | ||
Debt Conversion, Converted Instrument, Amount | $ 4,515,500 | |||
Stock Issued During Period, Value, New Issues | $ 19,000 | $ 3,920,500 | $ 69,000 | |
Stock Issuances | ||||
Stock Issued During Period, Shares, New Issues | 3,000,000 | |||
Stock Issued During Period, Value, New Issues | $ 45,300 | |||
Stock Issuances1 | ||||
Stock Issued During Period, Shares, New Issues | 15,030,769 | |||
Stock Issued During Period, Value, New Issues | $ 195,400 | |||
Stock Issuances2 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 1,330 | |||
Stock Issuances3 | ||||
Stock Issued During Period, Shares, New Issues | 1,000,000 | |||
Stock Issued During Period, Value, New Issues | $ 10,000 | |||
Stock Issuances4 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 1,400 | |||
Stock Issuances5 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 1,080 | |||
Stock Issuances6 | ||||
Stock Issued During Period, Shares, New Issues | 3,000,000 | |||
Stock Issued During Period, Value, New Issues | $ 30,000 | |||
Stock Issuances7 | ||||
Stock Issued During Period, Shares, New Issues | 1,000,000 | |||
Stock Issued During Period, Value, New Issues | $ 10,300 | |||
Stock Issuances 8 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 1,020 | |||
Stock Issuances 9 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 1,470 | |||
Stock Issuances 10 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 1,940 | |||
Stock Issuances 11 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 1,320 | |||
Stock Issuances 12 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 970 | |||
Stock Issuances 13 | ||||
Stock Issued During Period, Shares, New Issues | 2,000,000 | |||
Stock Issued During Period, Value, New Issues | $ 22,600 | |||
Stock Issuances 14 | ||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||
Stock Issued During Period, Value, New Issues | $ 1,120 | |||
Common Stock | ||||
Debt Conversion, Converted Instrument, Shares Issued | 451,550,000 | |||
Stock Issued During Period, Shares, New Issues | 1,900,000 | 451,550,000 | 4,400,000 | |
Stock Issued During Period, Value, New Issues | $ 1,900 | $ 451,550 | $ 4,400 |
10. Preferred Shares (Details)
10. Preferred Shares (Details) - USD ($) | Apr. 18, 2017 | Jan. 31, 2022 | Jan. 31, 2021 | Apr. 30, 2021 | Jun. 17, 2019 |
Preferred Stock, Shares Authorized | 10,000,000 | ||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||
Preferred Stock, Shares Issued | 583,000 | ||||
Warrant liabilities | $ 1,228,018 | $ 0 | |||
Increase Decrease in Finance costs | $ 228,019 | $ 0 | |||
Series A Preferred Stock | |||||
Preferred Stock, Shares Authorized | 500,000 | 500,000 | |||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||
Preferred Stock, Shares Issued | 500,000 | 500,000 | 500,000 | ||
Preferred Stock, Value | $ 500 | $ 500 | |||
Series A Preferred Stock | Preferred Stock | |||||
Debt Instrument, Convertible, Terms of Conversion Feature | entitled to receive dividends equal to the amount of the dividend or distribution per share of common stock payable multiplied by the number of shares of common stock the shares of Series A preferred shares held by such holder are convertible into. Each Series A preferred shares is convertible into one common share. Each holder of Series A preferred shares is entitled to cast 10,000 votes for every one Series A preferred share held. | ||||
Series C Preferred Stock | |||||
Preferred Stock, Shares Authorized | 1,400 | 1,400 | |||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||
Preferred Stock, Shares Issued | 1,000 | 0 | |||
Series C preferred stock issuable | $ 40,000 | $ 0 | |||
Preferred Stock, Value | 1 | 0 | |||
Series C accrued dividends | $ 7,808 | $ 0 |
11. Share Purchase Warrants_ _2
11. Share Purchase Warrants: Schedule of Stockholders' Equity Note, Warrants or Rights (Details) - Warrant - $ / shares | 9 Months Ended | |
Jan. 31, 2022 | Apr. 30, 2021 | |
Shares, Outstanding | 125,043,566 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 0.01 | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | 125,043,566 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ 0.01 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 4 years 10 months 24 days |