Sparta Commercial Services (SRCO) 10-Q 15 Dec 21 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Oct. 31, 2021	Dec. 15, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Oct. 31, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--04-30
Entity File Number	0-9483
Entity Registrant Name	SPARTA COMMERCIAL SERVICES, INC.
Entity Central Index Key	0000318299
Entity Tax Identification Number	30-0298178
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	555 Fifth Avenue
Entity Address, Address Line Two	14th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	(212)
Local Phone Number	239-2666
Title of 12(b) Security	Common stock, $.001 par value
Trading Symbol	SRCO
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,410,140

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Oct. 31, 2021	Apr. 30, 2021
Current Assets
Cash and cash equivalents	$ 2,417	$ 396
Accounts receivable	2,358	469
Inventory	10,499	13,823
Other current assets	4,580
Total Current Assets	19,854	14,688
Property and equipment, net of accumulated depreciation and amortization of $213,262 and $212,905, respectively
Other assets	9,628	9,628
Deposits	9,000	9,000
Total assets	38,482	33,316
Current Liabilities
Bank overdraft	63,409	49,041
Accounts payable and accrued expenses	4,042,275	3,627,831
Short Term Loan	394,013	409,013
Current portion notes payable	5,207,584	4,680,275
Deferred revenue	13,148	13,946
Derivative liabilities	7,077,836	3,446,738
Total Current Liabilities	16,798,265	12,226,844
Loans payable-related parties	432,403	432,403
Total Long Term Liabilities	432,403	432,403
Total liabilities	17,230,668	12,659,247
Deficit:
Preferred stock value	16,442	18,139
Common stock, $0.001 par value; 750,000,000 shares authorized, and 12,205,353 and 9,809,877 shares issued and outstanding as of July 31 and April 30, 2021 respectively	12,205	9,810
Common stock to be issued  2,349,697  and 1,215,000, respectively	22,443	1,215
Additional paid-in-capital	51,507,118	51,351,156
Accumulated deficit	(69,738,042)	(64,993,250)
Total deficiency in stockholders’ deficit	(18,179,834)	(13,612,930)
Non-controlling interest	987,648	986,999
Total Deficit	(17,192,186)	(12,625,931)
Total Liabilities and Deficit	38,482	33,316
Series A Convertible Preferred Stock [Member]
Deficit:
Preferred stock value	12,500	12,500
Series B Redeemable Preferred Stock [Member]
Deficit:
Preferred stock value
Series C Redeemable Convertible Preferred Stock [Member]
Deficit:
Preferred stock value	3,160	4,145
Series D Redeemable Convertible Preferred Stock [Member]
Deficit:
Preferred stock value	$ 782	$ 1,494

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2021	Apr. 30, 2021
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares designated	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	12,205,353	9,809,877
Common stock, shares outstanding	12,205,353	9,809,877
Common stock to be issued	2,349,697	1,215,000
Series A Convertible Preferred Stock [Member]
Preferred stock, par value	$ 100	$ 100
Preferred stock, shares designated	35,850	35,850
Preferred stock, shares issued	125	125
Preferred stock, shares outstanding	125	125
Series B Redeemable Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares designated	1,000	1,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Preferred stock, liquidation and redemption value per share	$ 10,000	$ 10,000
Series C Redeemable Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares designated	4,200,000	4,200,000
Preferred stock, shares issued	3,427,969	4,132,269
Preferred stock, shares outstanding	3,427,969	4,132,269
Preferred stock, liquidation and redemption value per share	$ 10	$ 10
Series D Redeemable Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares designated	2,000,000	2,000,000
Preferred stock, shares issued	1,191,412	1,493,962
Preferred stock, shares outstanding	1,191,412	1,493,962
Preferred stock, liquidation and redemption value per share	$ 1	$ 1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Revenue
Total Revenue	$ 65,698	$ 64,947	$ 126,383	$ 141,554
Less Cost of goods sold	13,116	25,586	23,293	45,734
Gross profit	52,582	39,361	103,090	95,820
Operating expenses:
General and administrative	256,713	220,033	506,737	933,709
Depreciation and amortization
Total operating expenses	256,713	220,033	506,737	933,709
Loss from operations	(204,131)	(180,672)	(403,647)	(837,889)
Other (income) expense:
Other income	(8,059)	(750)	(8,059)	(750)
Forgiveness of debt				(63,053)
Financing cost		(14,695)	180,750	295,729
Loss (gain) in changes in fair value of derivative liability	4,928,140		4,168,072	1,310,307
Total other (income) expense	4,920,081	(15,445)	4,340,763	1,542,233
Income (loss) from continuing operations	(5,124,212)	(165,227)	(4,744,410)	(2,380,122)
Loss from discontinued operations
Net income (loss)	(5,124,212)	(165,227)	(4,744,410)	(2,380,122)
Net income attributed to non-controlling interest	311	(3,962)	649	(5,934)
Preferred dividend	(382)	(191)	(382)	(382)
Net income (loss) attributed to common stockholders	$ (5,124,283)	$ (169,380)	$ (4,744,143)	$ (2,386,438)
Basic and diluted loss per share:
Loss from continuing operations attributable to Sparta Commercial Services, Inc. common stockholders	$ (0.43)	$ 0	$ 0.03	$ 0
Loss from discontinued operations attributable to Sparta Commercial Services, Inc. common stockholders
Net loss attributable to Sparta Commercial Services, Inc. common stockholders	$ (0.43)	$ 0	$ 0.03	$ 0
Weighted average shares outstanding	11,872,084	662,430,947	11,392,098	627,092,904
Information Technology [Member]
Revenue
Total Revenue	$ 56,242	$ 61,834	$ 112,799	$ 135,781
New World Health Brands [Member]
Revenue
Total Revenue	$ 9,456	$ 3,113	$ 13,584	$ 5,773

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficits (Unaudited) - USD ($)	Series A Preferred Stock [Member]Preferred Stock [Member]	Series B Preferred Stock [Member]Preferred Stock [Member]	Series C Preferred Stock [Member]Preferred Stock [Member]	Series D Preferred Stock [Member]Preferred Stock [Member]	Common Stock [Member]	Common Stock to be Issued [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Beginning balance at Apr. 30, 2020	$ 12,500		$ 4,005	$ 1,132	$ 627,093	$ 84,787	$ 49,406,954	$ (62,702,339)	$ 974,251	$ (11,591,617)
Beginning balance, shares at Apr. 30, 2020	125		4,005	1,132	6,270,929	84,786,511
Preferred dividend								(191)		(191)
Sale of preferred stocks			$ 140				69,860			70,000
Sale of preferred stocks, shares			140
Sale of common stock					$ 13,333		6,667			20,000
Sale of common stock, shares					133,333
Stock based compensation							464,718			464,718
Shares issued for settlement of accounts payable				$ 311			311,067			311,378
Shares issued for settlement of accounts payable, shares				311
Option issued for settlement of accounts payable							156,947			156,947
Shares issued for conversion of subsidairy preferred				$ 51			(40)		(11)
Shares issued for conversion of subsidairy preferred, shares				51
Net loss								(2,216,867)	1,972	(2,214,895)
Ending balance at Jul. 31, 2020	$ 12,500		$ 4,145	$ 1,494	$ 640,426	$ 84,787	50,416,173	(64,919,397)	976,212	(12,783,660)
Ending balance, shares at Jul. 31, 2020	125		4,145	1,494	6,404,262	84,786,511
Beginning balance at Apr. 30, 2020	$ 12,500		$ 4,005	$ 1,132	$ 627,093	$ 84,787	49,406,954	(62,702,339)	974,251	(11,591,617)
Beginning balance, shares at Apr. 30, 2020	125		4,005	1,132	6,270,929	84,786,511
Ending balance at Oct. 31, 2020	$ 12,500		$ 4,155	$ 1,596	$ 707,126	$ 108,120	50,378,075	(65,082,461)	968,317	(12,902,572)
Ending balance, shares at Oct. 31, 2020	125		4,155	1,596	73,104,262	108,119,511
Beginning balance at Jul. 31, 2020	$ 12,500		$ 4,145	$ 1,494	$ 640,426	$ 84,787	50,416,173	(64,919,397)	976,212	(12,783,660)
Beginning balance, shares at Jul. 31, 2020	125		4,145	1,494	6,404,262	84,786,511
Sale of preferred stocks			$ 10	$ 102						112
Sale of preferred stocks, shares			10	102
Shares issued for conversion of subsidairy preferred					$ 66,700		(38,098)	2,163		30,765
Shares issued for conversion of subsidairy preferred, shares					66,700,000
Preferred dividends						$ 23,333				23,333
Net loss								(165,227)	(7,895)	(173,122)
Ending balance at Oct. 31, 2020	$ 12,500		$ 4,155	$ 1,596	$ 707,126	$ 108,120	50,378,075	(65,082,461)	968,317	(12,902,572)
Ending balance, shares at Oct. 31, 2020	125		4,155	1,596	73,104,262	108,119,511
Beginning balance at Apr. 30, 2021	$ 12,500		$ 4,145	$ 1,494	$ 9,810	$ 1,215	51,351,156	(64,993,250)	986,999	(12,625,931)
Beginning balance, shares at Apr. 30, 2021	125		4,132,269	1,493,962	9,809,877	1,214,528
Conversion of Preferred to common stocks			$ (704)	$ (303)	$ 1,574		373,326			373,893
Conversion of Preferred to common stocks, shares			(704,300)	(302,551)	1,574,001
Conversion of notes to common shares					$ 125		24,875			25,000
Conversion of notes to common shares, shares					125,000
Common shares issued for cash						$ 1,135	98,183			99,318
Common shares issued for cash, shares						1,134,697
Preferred dividends										23,333
Net loss								379,802	338	380,140
Ending balance at Jul. 31, 2021	$ 12,500		$ 3,441	$ 1,191	$ 11,509	$ 2,350	51,847,540	(64,613,448)	987,337	(11,747,580)
Ending balance, shares at Jul. 31, 2021	125		3,427,969	1,191,411	11,508,878	2,349,225
Issuance of preferred shares			$ (281)	$ (409)		$ (2,350)	(317,979)			(321,019)
Issuance of preferred shares, shares			(281,000)	(409,000)		(2,349,225)
Issuane of common shares					$ 696	$ 22,443	(22,443)			696
Issuance of common shares, shares					696,475	22,442,105
Preferred dividend								(382)		(382)
Preferred dividends, shares						23,333,000
Net loss								(5,124,212)	311	(5,123,901)
Ending balance at Oct. 31, 2021	$ 12,500		$ 3,160	$ 782	$ 12,205	$ 22,443	$ 51,507,118	$ (69,738,042)	$ 987,648	$ (17,192,186)
Ending balance, shares at Oct. 31, 2021	125		3,146,969	782,411	12,205,353	22,442,105

Condensed Consolidated Statem_3

Condensed Consolidated Statements Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss)	$ (4,744,410)	$ (2,380,122)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	25,000	464,718
Gain from change in fair value of derivative liabilities	4,168,072	1,310,307
Amortization of debt discount	40,000
Non-cash financing cost	180,750	295,729
Forgiveness of debt /adjustments	(147,314)	(63,053)
Changes in operating assets and liabilities
Accounts receivable	(1,889)	(17,302)
Inventory	3,324	(4,594)
Other assets	(4,580)	(20,827)
Accounts payable and accrued expenses	414,498	346,763
Deferred revenue	(798)	(2,874)
Net cash from (used) operating activities	(67,347)	(71,255)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment
Net cash (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Bank overdraft	14,368	17,602
Proceeds from sale of stock	70,000	90,000
Proceeds from notes payable		130,944
Payments on notes payable	(15,000)	(500)
Proceeds from related party notes		18,097
Proceeds from PPP Loan		120,944
Payments on related party notes		(305,832)
Net cash provided by financing activities	69,368	71,255
Cash flows from discontinued operations:
Cash used in operating activities of discontinued operations
Net cash flow from discontinued operation
Net (decrease) increase in cash	2,021
Cash and cash equivalents, beginning of period	396
Cash and cash equivalents , end of period	2,417
Cash paid for:
Interest
Income taxes

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Oct. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of the significant accounting policies applied in the preparation of the accompanying unaudited condensed consolidated financial statements follows. Business Sparta Commercial Services, Inc. (“Sparta,” “we,” “us,” or the “Company”) is a Nevada corporation with headquarters in New York City, www.spartacommercial.com. We are a multi-disciplined parent corporation operating across three business sectors – Financial Services, E-Commerce & Mobile Technology, and Health and Wellness, (www.spartacommercial.com). Sparta’s roots are in the Powersports industry. Notwithstanding the discontinuance of our initial focus on consumer loans and leases, in 2007, the Company had introduced a new initiative, Municipal Financing, (www.spartamunicipal.com). Sparta’s Municipal Finance program is also available to all nonprofit organizations which adhere to IRS guidelines, including 501(c)3 of the Internal Revenue Code. Vehicle History Reports are a staple of Sparta’s E-Commerce Technology subsidiary iMobile Solutions, Inc. Whether a vehicle is intended for business or recreational use, Sparta’s Vehicle History Reports are highly regarded for accuracy and completeness and have been sold across all 50 states and in 62 countries worldwide. They provide a trusted layer of assurance to vehicle buyers and are available on Kelley Blue Book, Auto Trader, AllState Insurance and a range of various dealership websites. They include Cyclechex (Motorcycle History Reports at www.cyclechex.com), RVchex (Recreational Vehicle History Reports at www.rvchex.com), CarVINreport (Automobile History Reports at www.carvinreport.com), and Truckchex (Heavy Duty Truck History Reports at www.truckchex.com). The Company’s E-Commerce and Mobile Technology subsidiary name change to iMobile Solutions, Inc., from Specialty Reports, Inc., in 2017, signifies its ever-broadening service offerings in the evolving technology landscape. Under iMobile App (www.imobileapp.com), the Company provides mobile technology services, including web and mobile application creation, development and management for a wide range of businesses in the achievement of their marketing goals. The Company also designs, launches, maintains and hosts websites for businesses. Sparta created its subsidiary, New World Health Brands, Inc., in April 2019, on the heels of the Agriculture Improvement Act (also known as the Farm Bill), which was signed into law the previous December 20, 2018. Consequently, hemp (CBD) was removed from Schedule 1 of the Controlled Substances Act. Company management recognized the substantial business opportunity that lay ahead in the rapidly expanding hemp-CBD (cannabidiol) market in the United States. During 2019-2020, we sourced, developed and tested 5 CBD product categories totaling 31 products. We procured premium, domestic-grade, full-spectrum, broad-spectrum, and THC free hemp, created product packaging and labeling, and implemented fulfillment to launch an online B to C website: www.newworldhealthcbd.com on December 21, 2019. To ensure the safety and quality of our products, all CBD product offerings are exclusively sourced, manufactured and tested at highly accredited testing facilities in the United States and adhere to strict U.S standards and guidelines. Sparta’s response to the onset of the COVID 19 pandemic in early 2020 quickly took shape with thorough investigations into evolving customer trends in health and wellness. As a result, we expanded New World Health Brands and developed a new product line of natural dietary supplements. In August 2020, we launched an online B to C website: www.newworldhealthbrands.com, featuring high quality dietary supplements, including vitamins and minerals, such as, Zinc, Magnesium, Boron, Iodine, Beetroot Extract, Selenium, Vitamin B Complex, Vitamin C and PQQ. To ensure the safety and quality of our products, all health and wellness offerings are exclusively sourced and manufactured in the United States and adhere to strict U.S. standards and guidelines. Sparta’s commitment to high standards and transparency are tantamount to being a trusted brand. Sparta’s newest subsidiary, Sparta Crypto, Inc., was established September 25, 2020 and is in the process of completing a proprietary platform designed to connect users of widely adopted digital currencies with sellers of various goods and services. The platform has not launched and the Company can make no assurances that the described plan will reach implementation. In addition, the Company has completed and tested a cryptocurrency payment gateway called SpartaPayIQ, which is functional and expected to formally launch in the first quarter of 2022. Basis of Presentation The accompanying unaudited condensed consolidated financial statements as of October 31, 2021 and for the three and six months periods ended October 31, 2021 and 2020 have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission, including Form 10-Q and Regulation S-K. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. The Company believes that the disclosures provided are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and explanatory notes for the year ended April 30, 2021 as disclosed in the Company’s Form 10-K for that year as filed with the Securities and Exchange Commission. The results of operations for the three months ended October 31, 2021 are not necessarily indicative of the results to be expected for any other interim period or the full year ending April 30, 2022. The condensed consolidated balance sheet as of April 30, 2021 contained herein has been derived from the audited consolidated financial statements as of April 30, 2021, but do not include all disclosures required by the U.S. GAAP. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. The third-party ownership of the Company’s subsidiary is accounted for as noncontrolling interest in the consolidated financial statements. Changes in the noncontrolling interest are reported in the statement of changes in deficit. Estimates These financial statements have been prepared in accordance with accounting principles generally accepted in United States of America which require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosures of revenues and expenses for the reported period. Accordingly, actual results could differ from those estimates. Included in these estimates are assumptions about collection of accounts receivable, useful life of property and equipment, beneficial conversion feature of convertible notes payable, deferred income tax asset valuation allowances, and valuation of derivative liabilities. Revenue Recognition During the first quarter of 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), using the cumulative-effect method. The new standard requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The adoption did not have an impact in our consolidated financial statements, other than the enhancement of our disclosures related to our revenue-generating activities. The Company acts as a principal in its revenue transactions as the Company is the primary obligor in the transactions. Revenues from mobile app products and New World Health products are generally recognized upon delivery. Revenues from history reports are generally recognized upon delivery / download. Prepayments received from customers before delivery (if any) are recognized as deferred revenue and recognized upon delivery. Cash Equivalents For the purpose of the accompanying unaudited condensed consolidated financial statements, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. Website Development Costs The Company recognizes website development costs in accordance with ASC 350-50, “Accounting for Website Development Costs.” Fair Value Measurements The Company has adopted ASC 820, “Fair Value Measurements .” ● Level 1 — ● Level 2 — ● Level 3 — This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. For some products or in certain market conditions, observable inputs may not always be available. Income Taxes We utilize ASC 740 “ Income Taxes The Company recognizes the impact of a tax position in the financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. Our practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Stock Based Compensation We account for our stock-based compensation under ASC 718 “ Compensation – Stock Compensation We use the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options. The stock based fair value compensation is determined as of the date of the grant or the date at which the performance of the services is completed (measurement date) and is recognized over the vesting periods. Inventories The Company’s inventories represent finished goods, consist of products available for sale and are accounted for using the first-in, first-out (FIFO) method and valued at the lower of cost or net realizable value. Inventory consists of finished goods for the Company’s New World Health business. Concentrations of Credit Risk Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash, cash equivalents and receivables. The Company places its cash and temporary cash investments with high credit quality institutions. At times, such investments may be in excess of the FDIC insurance limit. Net Loss Per Share The Company uses ASC 260-10, “ Earnings Per Share As of October 31, 2021 and 2020, 42 12,205,353 1,493,962 Derivative Liabilities The Company assessed the classification of its derivative financial instruments as of October 31, 2021 and April 30, 2021, which consist of convertible instruments and rights to shares of the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815. ASC 815 generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as freestanding derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument subject to the requirements of ASC 815. ASC 815 also provides an exception to this rule when the host instrument is deemed to be conventional, as described. Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for “ Accounting for Derivative Instruments and Hedging Activities The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards when “ Accounting for Convertible Securities with Beneficial Conversion Features Reclassifications Certain reclassifications have been made to conform to prior periods’ data to the current presentation. These reclassifications had no effect on reported losses. Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update No. 2016-02 (Topic 842) “ Leases Leases A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies. Due to the tentative and preliminary nature of those proposed standards, we have not determined whether implementation of such proposed standards would be material to our unaudited condensed consolidated financial statements.

GOING CONCERN MATTERS

GOING CONCERN MATTERS	6 Months Ended
	Oct. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN MATTERS	NOTE B – GOING CONCERN MATTERS The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying unaudited condensed consolidated financial statements, the Company has incurred recurring losses and generated negative cash flows from operating activities since inception. As of October 31, 2021, the Company had an accumulated deficit of $ 69,738,042 and a working capital deficit of $ 16,778,411 . The Company’s cash balance and revenues generated are not currently sufficient and cannot be projected to cover its operating expenses for the next twelve months from the filing date of this report. These factors among others raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time. The Company’s existence is dependent upon management’s ability to develop profitable operations. Management is devoting substantially all of its efforts to developing its business and raising capital and there can be no assurance that the Company’s efforts will be successful. No assurance can be given that management’s actions will result in profitable operations or the resolution of its liquidity problems. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result should the Company be unable to continue as a going concern. In order to improve the Company’s liquidity, the Company’s management is actively pursuing additional equity financing through discussions with investment bankers and private investors. There can be no assurance that the Company will be successful in its effort to secure additional equity financing.

NOTES PAYABLE AND DERIVATIVES

NOTES PAYABLE AND DERIVATIVES	6 Months Ended
	Oct. 31, 2021
Debt Disclosure [Abstract]
NOTES PAYABLE AND DERIVATIVES	NOTE C – NOTES PAYABLE AND DERIVATIVES The Company has outstanding numerous notes payable to various parties. The notes bear interest at rates of 5 20 SCHEDULE OF NOTES PAYABLE Notes Payable October 31, 2021 April 30, 2021 Notes convertible at holder’s option $ 2,980,848 $ 2,522,925 Notes convertible at Company’s option 335,700 335,700 Non-convertible notes payable 1,891,036 1,821,650 Subtotal 5,207,584 4,680,275 Debt discount - Total $ 5,207,584 $ 4,680,275 Certain of the notes payable contain variable conversion rates and the conversion features are classified as derivative liabilities. The conversion prices are based on the market price of the Company’s common stock, at discounts of 30 48 The Company’s derivative financial instruments consist of embedded derivatives related to the outstanding short term Convertible Notes Payable. These embedded derivatives include certain conversion features indexed to the Company’s common stock. The accounting treatment of derivative financial instruments requires that the Company record the derivatives and related items at their fair values as of the inception date of the Convertible Notes Payable and at fair value as of each subsequent balance sheet date. In addition, under the provisions of Accounting Standards Codification subtopic 815-40, Derivatives and Hedging; Contracts in Entity’s Own Equity (“ASC 815-40”), as a result of entering into the Convertible Notes Payable, the Company is required to classify all other non-employee stock options and warrants as derivative liabilities and mark them to market at each reporting date. Any change in fair value inclusive of modifications of terms will be recorded as non-operating, non-cash income or expense at each reporting date. If the fair value of the derivatives is higher at the subsequent balance sheet date, the Company will record a non-operating, non-cash charge. If the fair value of the derivatives is lower at the subsequent balance sheet date, the Company will record non-operating, non-cash income. The change in fair value of the derivative liabilities at October 31, 2021 was calculated with the following average assumptions, using a Black-Scholes option pricing model are as follows: SCHEDULE OF DERIVATIVE LIABILITIES ASSUMPTIONS USING BLACK-SCHOLES OPTION Significant Assumptions: Risk free interest rate Ranging from 0.09 0.2 % Expected stock price volatility Ranging from 155 270 % Expected dividend payout Expected life in years Ranging from 0.25 3.0 The change in fair value of the derivative liabilities of convertible notes outstanding at April 30, 2021 was calculated with the following average assumptions, using a Black-Scholes option-pricing model are as follows: Significant Assumptions: Risk free interest rate Ranging from 1.83 2.00 % Expected stock price volatility 118 187 % Expected dividend payout 0 Expected life in years Ranging from 0.25 2.0 During the six months ended October 31, 2021 and 2020, the Company recorded a net loss of $ 4,592,044 2,386,247 Changes in derivative liability during the six months ended October 31, 2021 and 2020 were: SCHEDULE OF CHANGES IN DERIVATIVE LIABILITIES 2021 2020 October 31, 2021 2020 Balance, beginning of year $ 3,446,738 $ 2,802,125 Derivative liability extinguished (1,297,041 ) - Derivative financial liability arising on the issuance of convertible notes and warrants 140,014 Fair value adjustments 4,928,138 1,310,307 Balance, end of period $ 7,077,836 $ 4,255,446

LOANS PAYABLE TO RELATED PARTIE

LOANS PAYABLE TO RELATED PARTIES	6 Months Ended
	Oct. 31, 2021
Related Party Transactions [Abstract]
LOANS PAYABLE TO RELATED PARTIES	NOTE D – LOANS PAYABLE TO RELATED PARTIES As of October 31, 2021, and April 30, 2021, aggregated loans and notes payable, without demand and with no interest, to officers and directors were $ 432,403 432,403

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	6 Months Ended
	Oct. 31, 2021
Equity [Abstract]
EQUITY TRANSACTIONS	NOTE E EQUITY TRANSACTIONS Preferred Stock The Company is authorized to issue 10,000,000 0.001 35,850 100 1,000 10,000 4,200,000 10 2,000,000 1 During the six months ended October 31, 2021, the Company: Converted 704,300 1,493,962 1,571,101 253,442 Converted 136,325 92,500 686,475 148,503 Issued 10,000 3,900 During the six months ended October 31, 2020, the Company: Sold 140 70,000 Each Unit consists of 1 share of Series C Preferred stock (convertible at any time into 300 shares of the Company’s common stock) 150 two year 0.005 Issued 311 311,378 Each Unit consists of 1 share of Series D Preferred stock (convertible at any time into 400 shares of the Company’s common stock) 150 two year 0.01 Issued 51 51,000 Each Unit consists of 1 share of Series D Preferred stock (convertible at any time into 400 shares of the Company’s common stock) 150 two year 0.01 Common Stock The Company had 12,205,353 a 9,809,877 shares of common stock (after stock split effect) issued and outstanding as of October 31, 2021 and April 30, 2021, respectively. The Company had 1,214,528 shares (after stock split effect) of common classified as to be issued at October 31 and April 30, 2021. During the three months ended October 31, 2021, the Company: Sold to four accredited investors 1,134,697 shares of common stock for cash of $ 70,000 29,317 During the three months ended October 31, 2020, the Company: Sold 140 70,000 Each Unit consists of 1 share of Series C Preferred stock (convertible at any time into 3 shares of the Company’s common stock) 1.5 two 0.050 Issued 311 311,378 Each Unit consists of 1 share of Series D Preferred stock (convertible at any time into 4 shares of the Company’s common stock) 1.5 two 1.00 Issued 51 51,000 Each Unit consists of 1 share of Series D Preferred stock (convertible at any time into 4 shares of the Company’s common stock) 1.5 two 1.00

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Oct. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE F – FAIR VALUE MEASUREMENTS The Company follows the guidance established pursuant to ASC 820 which established a framework for measuring fair value and expands disclosure about fair value measurements. ASC 820 defines fair value as the amount that would be received for an asset or paid to transfer a liability (i.e., an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes the following three levels of inputs that may be used: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets and liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data. Level 3: Unobservable inputs when there is little or no market data available, thereby requiring an entity to develop its own assumptions. The fair value hierarchy gives the lowest priority to Level 3 inputs. The table below summarizes the fair values of financial liabilities as of October 31, 2021: SCHEDULE OF FAIR VALUES OF FINANCIAL LIABILITIES Fair Value at Fair Value Measurement Using October 31, 2021 Level 1 Level 2 Level 3 Derivative liabilities $ 7,077,836 - - $ 7,077,836 Fair values of financial liabilities as of April 30, 2021 are as follows: Fair Value at Fair Value Measurement Using April 30, 2021 Level 1 Level 2 Level 3 Derivative liabilities $ 3,446,738 - - $ 3,446,738 The following is a description of the valuation methodologies used for these items: Derivative liabilities The Company did not identify any other non-recurring assets and liabilities that are required to be presented in the balance sheets at fair value in accordance with ASC Topic 825 “ The Fair Value Option for Financial Issuances

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Oct. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE G – COMMITMENTS AND CONTINGENCIES In response to the COVID-19 pandemic, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law in March 2020. The CARES Act lifts certain deduction limitations originally imposed by the Tax Cuts and Jobs Act of 2017 (“2017 Tax Act”). Corporate taxpayers may carryback net operating losses (NOLs) originating between 2018 and 2020 for up to five years, which was not previously allowed under the 2017 Tax Act. The CARES Act also eliminates the 80% of taxable income limitations by allowing corporate entities to fully utilize NOL carry forwards to offset taxable income in 2018, 2019 or 2020. Taxpayers may generally deduct interest up to the sum of 50% of adjusted taxable income plus business interest income (30% limit under the 2017 Tax Act) for 2019 and 2020. In addition, the CARES Act raises the corporate charitable deduction limit to 25% of taxable income and makes qualified improvement property generally eligible for 15-year cost-recovery and 100% bonus depreciation. Operating Lease Commitments Our executive offices are located in New York, NY. We have an agreement for use of office space at this location under a sub-lease which expired on October 31, 2019 5,100 Rent expense was $ 16,200 16,200 Litigation The Company is subject to legal proceedings and claims which arise in the ordinary course of its business. Sparta can make no representations about the potential outcome of such proceedings. As of October 31, 2021, we were not a party to any material pending legal proceeding except as stated below. From time to time, we may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. The Company has received notices dated April 1, 2016, May 13, 2016 and July 22, 2016 from two lenders claiming defaults relating to conversion requests of $ 8,365 643 5,000 55,125 27,500 On September 22, 2016, a motion for summary judgment in lieu of complaint was filed in the Supreme Court of The State of New York County of Kings, against the Company by a lender for the amount of $ 102,170 . On October 26, 2018, a lender commenced an action in the Supreme Court of the State of New York in New York County alleging damages from unpaid principal and interest, attorney’s fees, costs, and expenses arising from a promissory note dated February 26, 2015, in the amount of $ 50,000

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Oct. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE H – SUBSEQUENT EVENTS The Company has evaluated subsequent events for recognition and disclosure December 15, 2021 which is the date the financial statements were available to be issued. No other matters were identified affecting the accompanying financial statements and related disclosures.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Oct. 31, 2021
Accounting Policies [Abstract]
Business	Business Sparta Commercial Services, Inc. (“Sparta,” “we,” “us,” or the “Company”) is a Nevada corporation with headquarters in New York City, www.spartacommercial.com. We are a multi-disciplined parent corporation operating across three business sectors – Financial Services, E-Commerce & Mobile Technology, and Health and Wellness, (www.spartacommercial.com). Sparta’s roots are in the Powersports industry. Notwithstanding the discontinuance of our initial focus on consumer loans and leases, in 2007, the Company had introduced a new initiative, Municipal Financing, (www.spartamunicipal.com). Sparta’s Municipal Finance program is also available to all nonprofit organizations which adhere to IRS guidelines, including 501(c)3 of the Internal Revenue Code. Vehicle History Reports are a staple of Sparta’s E-Commerce Technology subsidiary iMobile Solutions, Inc. Whether a vehicle is intended for business or recreational use, Sparta’s Vehicle History Reports are highly regarded for accuracy and completeness and have been sold across all 50 states and in 62 countries worldwide. They provide a trusted layer of assurance to vehicle buyers and are available on Kelley Blue Book, Auto Trader, AllState Insurance and a range of various dealership websites. They include Cyclechex (Motorcycle History Reports at www.cyclechex.com), RVchex (Recreational Vehicle History Reports at www.rvchex.com), CarVINreport (Automobile History Reports at www.carvinreport.com), and Truckchex (Heavy Duty Truck History Reports at www.truckchex.com). The Company’s E-Commerce and Mobile Technology subsidiary name change to iMobile Solutions, Inc., from Specialty Reports, Inc., in 2017, signifies its ever-broadening service offerings in the evolving technology landscape. Under iMobile App (www.imobileapp.com), the Company provides mobile technology services, including web and mobile application creation, development and management for a wide range of businesses in the achievement of their marketing goals. The Company also designs, launches, maintains and hosts websites for businesses. Sparta created its subsidiary, New World Health Brands, Inc., in April 2019, on the heels of the Agriculture Improvement Act (also known as the Farm Bill), which was signed into law the previous December 20, 2018. Consequently, hemp (CBD) was removed from Schedule 1 of the Controlled Substances Act. Company management recognized the substantial business opportunity that lay ahead in the rapidly expanding hemp-CBD (cannabidiol) market in the United States. During 2019-2020, we sourced, developed and tested 5 CBD product categories totaling 31 products. We procured premium, domestic-grade, full-spectrum, broad-spectrum, and THC free hemp, created product packaging and labeling, and implemented fulfillment to launch an online B to C website: www.newworldhealthcbd.com on December 21, 2019. To ensure the safety and quality of our products, all CBD product offerings are exclusively sourced, manufactured and tested at highly accredited testing facilities in the United States and adhere to strict U.S standards and guidelines. Sparta’s response to the onset of the COVID 19 pandemic in early 2020 quickly took shape with thorough investigations into evolving customer trends in health and wellness. As a result, we expanded New World Health Brands and developed a new product line of natural dietary supplements. In August 2020, we launched an online B to C website: www.newworldhealthbrands.com, featuring high quality dietary supplements, including vitamins and minerals, such as, Zinc, Magnesium, Boron, Iodine, Beetroot Extract, Selenium, Vitamin B Complex, Vitamin C and PQQ. To ensure the safety and quality of our products, all health and wellness offerings are exclusively sourced and manufactured in the United States and adhere to strict U.S. standards and guidelines. Sparta’s commitment to high standards and transparency are tantamount to being a trusted brand. Sparta’s newest subsidiary, Sparta Crypto, Inc., was established September 25, 2020 and is in the process of completing a proprietary platform designed to connect users of widely adopted digital currencies with sellers of various goods and services. The platform has not launched and the Company can make no assurances that the described plan will reach implementation. In addition, the Company has completed and tested a cryptocurrency payment gateway called SpartaPayIQ, which is functional and expected to formally launch in the first quarter of 2022.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements as of October 31, 2021 and for the three and six months periods ended October 31, 2021 and 2020 have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission, including Form 10-Q and Regulation S-K. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. The Company believes that the disclosures provided are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and explanatory notes for the year ended April 30, 2021 as disclosed in the Company’s Form 10-K for that year as filed with the Securities and Exchange Commission. The results of operations for the three months ended October 31, 2021 are not necessarily indicative of the results to be expected for any other interim period or the full year ending April 30, 2022. The condensed consolidated balance sheet as of April 30, 2021 contained herein has been derived from the audited consolidated financial statements as of April 30, 2021, but do not include all disclosures required by the U.S. GAAP.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. The third-party ownership of the Company’s subsidiary is accounted for as noncontrolling interest in the consolidated financial statements. Changes in the noncontrolling interest are reported in the statement of changes in deficit.
Estimates	Estimates These financial statements have been prepared in accordance with accounting principles generally accepted in United States of America which require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosures of revenues and expenses for the reported period. Accordingly, actual results could differ from those estimates. Included in these estimates are assumptions about collection of accounts receivable, useful life of property and equipment, beneficial conversion feature of convertible notes payable, deferred income tax asset valuation allowances, and valuation of derivative liabilities.
Revenue Recognition	Revenue Recognition During the first quarter of 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), using the cumulative-effect method. The new standard requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The adoption did not have an impact in our consolidated financial statements, other than the enhancement of our disclosures related to our revenue-generating activities. The Company acts as a principal in its revenue transactions as the Company is the primary obligor in the transactions. Revenues from mobile app products and New World Health products are generally recognized upon delivery. Revenues from history reports are generally recognized upon delivery / download. Prepayments received from customers before delivery (if any) are recognized as deferred revenue and recognized upon delivery.
Cash Equivalents	Cash Equivalents For the purpose of the accompanying unaudited condensed consolidated financial statements, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents.
Website Development Costs	Website Development Costs The Company recognizes website development costs in accordance with ASC 350-50, “Accounting for Website Development Costs.”
Fair Value Measurements	Fair Value Measurements The Company has adopted ASC 820, “Fair Value Measurements .” ● Level 1 — ● Level 2 — ● Level 3 — This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. For some products or in certain market conditions, observable inputs may not always be available.
Income Taxes	Income Taxes We utilize ASC 740 “ Income Taxes The Company recognizes the impact of a tax position in the financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. Our practice is to recognize interest and/or penalties related to income tax matters in income tax expense.
Stock Based Compensation	Stock Based Compensation We account for our stock-based compensation under ASC 718 “ Compensation – Stock Compensation We use the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options. The stock based fair value compensation is determined as of the date of the grant or the date at which the performance of the services is completed (measurement date) and is recognized over the vesting periods.
Inventories	Inventories The Company’s inventories represent finished goods, consist of products available for sale and are accounted for using the first-in, first-out (FIFO) method and valued at the lower of cost or net realizable value. Inventory consists of finished goods for the Company’s New World Health business.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash, cash equivalents and receivables. The Company places its cash and temporary cash investments with high credit quality institutions. At times, such investments may be in excess of the FDIC insurance limit.
Net Loss Per Share	Net Loss Per Share The Company uses ASC 260-10, “ Earnings Per Share As of October 31, 2021 and 2020, 42 12,205,353 1,493,962
Derivative Liabilities	Derivative Liabilities The Company assessed the classification of its derivative financial instruments as of October 31, 2021 and April 30, 2021, which consist of convertible instruments and rights to shares of the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815. ASC 815 generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as freestanding derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument subject to the requirements of ASC 815. ASC 815 also provides an exception to this rule when the host instrument is deemed to be conventional, as described.
Convertible Instruments	Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for “ Accounting for Derivative Instruments and Hedging Activities The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards when “ Accounting for Convertible Securities with Beneficial Conversion Features
Reclassifications	Reclassifications Certain reclassifications have been made to conform to prior periods’ data to the current presentation. These reclassifications had no effect on reported losses.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update No. 2016-02 (Topic 842) “ Leases Leases A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies. Due to the tentative and preliminary nature of those proposed standards, we have not determined whether implementation of such proposed standards would be material to our unaudited condensed consolidated financial statements.

NOTES PAYABLE AND DERIVATIVES (

NOTES PAYABLE AND DERIVATIVES (Tables)	6 Months Ended
	Oct. 31, 2021
Debt Disclosure [Abstract]
SCHEDULE OF NOTES PAYABLE	SCHEDULE OF NOTES PAYABLE Notes Payable October 31, 2021 April 30, 2021 Notes convertible at holder’s option $ 2,980,848 $ 2,522,925 Notes convertible at Company’s option 335,700 335,700 Non-convertible notes payable 1,891,036 1,821,650 Subtotal 5,207,584 4,680,275 Debt discount - Total $ 5,207,584 $ 4,680,275
SCHEDULE OF DERIVATIVE LIABILITIES ASSUMPTIONS USING BLACK-SCHOLES OPTION	The change in fair value of the derivative liabilities at October 31, 2021 was calculated with the following average assumptions, using a Black-Scholes option pricing model are as follows: SCHEDULE OF DERIVATIVE LIABILITIES ASSUMPTIONS USING BLACK-SCHOLES OPTION Significant Assumptions: Risk free interest rate Ranging from 0.09 0.2 % Expected stock price volatility Ranging from 155 270 % Expected dividend payout Expected life in years Ranging from 0.25 3.0 The change in fair value of the derivative liabilities of convertible notes outstanding at April 30, 2021 was calculated with the following average assumptions, using a Black-Scholes option-pricing model are as follows: Significant Assumptions: Risk free interest rate Ranging from 1.83 2.00 % Expected stock price volatility 118 187 % Expected dividend payout 0 Expected life in years Ranging from 0.25 2.0
SCHEDULE OF CHANGES IN DERIVATIVE LIABILITIES	Changes in derivative liability during the six months ended October 31, 2021 and 2020 were: SCHEDULE OF CHANGES IN DERIVATIVE LIABILITIES 2021 2020 October 31, 2021 2020 Balance, beginning of year $ 3,446,738 $ 2,802,125 Derivative liability extinguished (1,297,041 ) - Derivative financial liability arising on the issuance of convertible notes and warrants 140,014 Fair value adjustments 4,928,138 1,310,307 Balance, end of period $ 7,077,836 $ 4,255,446

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Oct. 31, 2021
Fair Value Disclosures [Abstract]
SCHEDULE OF FAIR VALUES OF FINANCIAL LIABILITIES	The table below summarizes the fair values of financial liabilities as of October 31, 2021: SCHEDULE OF FAIR VALUES OF FINANCIAL LIABILITIES Fair Value at Fair Value Measurement Using October 31, 2021 Level 1 Level 2 Level 3 Derivative liabilities $ 7,077,836 - - $ 7,077,836 Fair values of financial liabilities as of April 30, 2021 are as follows: Fair Value at Fair Value Measurement Using April 30, 2021 Level 1 Level 2 Level 3 Derivative liabilities $ 3,446,738 - - $ 3,446,738

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - shares	6 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	42,000,000	42,000,000
Shares to be Issued [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	12,205,353	1,493,962

GOING CONCERN MATTERS (Details

GOING CONCERN MATTERS (Details Narrative) - USD ($)	Oct. 31, 2021	Apr. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Retained Earnings (Accumulated Deficit)	$ 69,738,042	$ 64,993,250
Working capital deficit	$ 16,778,411

SCHEDULE OF NOTES PAYABLE (Deta

SCHEDULE OF NOTES PAYABLE (Details) - USD ($)	Oct. 31, 2021	Apr. 30, 2021
Short-term Debt [Line Items]
Subtotal	$ 5,207,584	$ 4,680,275
Debt discount
Total	5,207,584	4,680,275
Notes convertible at holder’s option [Member]
Short-term Debt [Line Items]
Subtotal	2,980,848	2,522,925
Notes convertible at Company’s option [Member]
Short-term Debt [Line Items]
Subtotal	335,700	335,700
Non-convertible notes payable [Member]
Short-term Debt [Line Items]
Subtotal	$ 1,891,036	$ 1,821,650

SCHEDULE OF DERIVATIVE LIABILIT

SCHEDULE OF DERIVATIVE LIABILITIES ASSUMPTIONS USING BLACK-SCHOLES OPTION (Details)	6 Months Ended	12 Months Ended
	Oct. 31, 2021	Apr. 30, 2021
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Derivative liability, measurement input, percentage	0.09	1.83
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Derivative liability, measurement input, percentage	0.2	2
Measurement Input, Price Volatility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Derivative liability, measurement input, percentage	155	118
Measurement Input, Price Volatility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Derivative liability, measurement input, percentage	270	187
Measurement Input, Expected Term [Member] | Minimum [Member]
Debt Instrument [Line Items]
Derivative liability, measurement input, expected life	3 months	3 months
Measurement Input, Expected Term [Member] | Maximum [Member]
Debt Instrument [Line Items]
Derivative liability, measurement input, expected life	3 years	2 years
Measurement Input, Expected Dividend Rate [Member]
Debt Instrument [Line Items]
Derivative liability, measurement input, percentage		0

SCHEDULE OF CHANGES IN DERIVATI

SCHEDULE OF CHANGES IN DERIVATIVE LIABILITIES (Details) - USD ($)	6 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Debt Disclosure [Abstract]
Balance, beginning of year	$ 3,446,738	$ 2,802,125
Derivative liability extinguished	(1,297,041)
Derivative financial liability arising on the issuance of convertible notes and warrants		140,014
Fair value adjustments	4,928,138	1,310,307
Balance, end of period	$ 7,077,836	$ 4,255,446

NOTES PAYABLE AND DERIVATIVES_2

NOTES PAYABLE AND DERIVATIVES (Details Narrative) - USD ($)	6 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Debt Instrument [Line Items]
Loss on derivative liabilities	$ 4,592,044	$ 2,386,247
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	5.00%
Common stock discount rate, percentage	30.00%
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	20.00%
Common stock discount rate, percentage	48.00%

LOANS PAYABLE TO RELATED PART_2

LOANS PAYABLE TO RELATED PARTIES (Details Narrative) - USD ($)	Oct. 31, 2021	Apr. 30, 2021
Related Party Transactions [Abstract]
Loans payable to officers and directors	$ 432,403	$ 432,403

EQUITY TRANSACTIONS (Details Na

EQUITY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020	Apr. 30, 2021
Class of Stock [Line Items]
Preferred stock, shares authorized	10,000,000		10,000,000		10,000,000
Preferred stock, par value	$ 0.001		$ 0.001		$ 0.001
Number of shares issued during period	$ 696
Common Stock, Shares, Outstanding	12,205,353		12,205,353		9,809,877
Common Stock, Shares, Issued	12,205,353		12,205,353		9,809,877
Four Accredited Investors [Member]
Class of Stock [Line Items]
Accrued expenses settlement	$ 29,317
Common Stock to be Issued [Member]
Class of Stock [Line Items]
Number of shares issued during period, shares	22,442,105
Number of shares issued during period	$ 22,443
Common Stock, Shares, Issued					1,214,528
Common Stock [Member]
Class of Stock [Line Items]
Number of warrants to purchase common shares		1.5		1.5
Common stock, price per share		$ 1		$ 1
Number of shares issued during period, shares	696,475
Number of shares issued during period	$ 696
Common Stock [Member] | Four Accredited Investors [Member]
Class of Stock [Line Items]
Number of stocks sold during period	1,134,697
Sale of stock	$ 70,000
Settlement Of Accounts Payable [Member] | Common Stock [Member]
Class of Stock [Line Items]
Number of warrants to purchase common shares		1.5		1.5
Common stock, price per share		$ 1		$ 1
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	35,850		35,850		35,850
Preferred stock, par value	$ 100		$ 100		$ 100
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	1,000		1,000
Preferred stock, liquidation preference	$ 10,000		$ 10,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	4,200,000		4,200,000
Preferred stock, liquidation preference	$ 10		$ 10
Conversion of stock, shares converted			1,493,962
Number of stocks sold during period		140
Sale of stock		$ 70,000
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	2,000,000		2,000,000
Preferred stock, liquidation preference	$ 1		$ 1
Conversion of stock, shares converted			704,300
Common Stock [Member]
Class of Stock [Line Items]
Conversion of stock, shares issued			1,571,101
Conversion of stock, shares issued, value			$ 253,442
Series D Preferred Stock One [Member]
Class of Stock [Line Items]
Conversion of stock, shares converted			136,325
Series C Preferred Stock One [Member]
Class of Stock [Line Items]
Conversion of stock, shares converted			92,500
Common Stock One [Member]
Class of Stock [Line Items]
Conversion of stock, shares issued			686,475
Conversion of stock, shares issued, value			$ 148,503
Common Stock Two [Member]
Class of Stock [Line Items]
Conversion of stock, shares issued			10,000
Conversion of stock, shares issued, value			$ 3,900
Series C Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Number of stocks sold during period				140
Sale of stock				$ 70,000
Convertible preferred stock, terms of conversion		Each Unit consists of 1 share of Series C Preferred stock (convertible at any time into 3 shares of the Company’s common stock)		Each Unit consists of 1 share of Series C Preferred stock (convertible at any time into 300 shares of the Company’s common stock)
Number of warrants to purchase common shares		150		150
Warrants term		2 years		2 years
Common stock, price per share		$ 0.005		$ 0.005
Series D Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Convertible preferred stock, terms of conversion		Each Unit consists of 1 share of Series D Preferred stock (convertible at any time into 4 shares of the Company’s common stock)		Each Unit consists of 1 share of Series D Preferred stock (convertible at any time into 400 shares of the Company’s common stock)
Number of warrants to purchase common shares		150		150
Warrants term		2 years		2 years
Common stock, price per share		$ 0.01		$ 0.01
Number of shares issued during period, shares		51		51
Number of shares issued during period		$ 51,000		$ 51,000
Series D Convertible Preferred Stock [Member] | Settlement Of Accounts Payable [Member]
Class of Stock [Line Items]
Convertible preferred stock, terms of conversion		Each Unit consists of 1 share of Series D Preferred stock (convertible at any time into 4 shares of the Company’s common stock)		Each Unit consists of 1 share of Series D Preferred stock (convertible at any time into 400 shares of the Company’s common stock)
Number of warrants to purchase common shares		150		150
Warrants term		2 years		2 years
Common stock, price per share		$ 0.01		$ 0.01
Number of shares issued during period, shares		311		311
Number of shares issued during period		$ 311,378		$ 311,378
Common Class C [Member] | Common Stock [Member]
Class of Stock [Line Items]
Common stock, price per share		$ 0.050		$ 0.050

SCHEDULE OF FAIR VALUES OF FINA

SCHEDULE OF FAIR VALUES OF FINANCIAL LIABILITIES (Details) - USD ($)	Oct. 31, 2021	Apr. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ 7,077,836	$ 3,446,738
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ 7,077,836	$ 3,446,738

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Sep. 22, 2016	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Feb. 26, 2015
Tax cuts act description				The CARES Act lifts certain deduction limitations originally imposed by the Tax Cuts and Jobs Act of 2017 (“2017 Tax Act”). Corporate taxpayers may carryback net operating losses (NOLs) originating between 2018 and 2020 for up to five years, which was not previously allowed under the 2017 Tax Act. The CARES Act also eliminates the 80% of taxable income limitations by allowing corporate entities to fully utilize NOL carry forwards to offset taxable income in 2018, 2019 or 2020. Taxpayers may generally deduct interest up to the sum of 50% of adjusted taxable income plus business interest income (30% limit under the 2017 Tax Act) for 2019 and 2020.
CARES act description				the corporate charitable deduction limit to 25% of taxable income and makes qualified improvement property generally eligible for 15-year cost-recovery and 100% bonus depreciation.
Rent expense		$ 16,200	$ 16,200
Promissory Note [Member]
Aggregate note amount					$ 50,000
New York County Kings [Member]
Loss on contingent	$ 102,170
Lender One [Member]
Debt principal amount		8,365		$ 8,365
Debt interest		643		643
Aggregate note amount		55,125		55,125
Lender Two [Member]
Debt principal amount		5,000		5,000
Aggregate note amount		$ 27,500		$ 27,500
Executive Office Space [Member]
Lease expiring date				Oct. 31, 2019
Rent expense				$ 5,100