REGI U.S. (RGUS) 10-Q 14 Dec 18 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2018	Dec. 14, 2018
Document And Entity Information
Entity Registrant Name	REGI U S INC
Entity Central Index Key	922,330
Document Type	10-Q
Document Period End Date	Oct. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		104,265,444
Trading Symbol	RGUS
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,019

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Oct. 31, 2018	Apr. 30, 2018
Current Assets
Cash and cash equivalents	$ 16,409	$ 111,823
Prepaid expenses	19,694	27,470
Total current assets	36,103	139,293
Furniture and equipment, net	24,901	13,004
Total Assets	61,004	152,297
Current Liabilities
Accounts payable and accrued liabilities	577,381	315,957
Due to related parties	94,794	106,823
Convertible promissory notes, net of unamortized discount of $139,249 and $15,959, respectively	679,650	579,976
Convertible promissory notes - related parties, net of unamortized discount of $15,502 and $2,639, respectively	93,498	58,361
Total current liabilities	1,445,321	1,061,117
Long-term Liabilities
Convertible promissory notes, net of unamortized discount of $182,694 and $507,699, respectively	438,120	417,492
Convertible promissory notes - related parties, net of unamortized discount of $19,401 and $52,177, respectively	163,509	84,401
Total long-term liabilities	601,629	501,893
Total liabilities	2,046,950	1,563,010
Commitments and Contingencies
Stockholders' Deficit
Common stock,150,000,000 shares authorized, no par value, 101,765,444 and 99,698,583 shares issued and outstanding respectively	23,158,666	22,956,578
Accumulated deficit	(24,840,720)	(24,063,399)
Accumulated other comprehensive loss	(358,675)	(358,675)
Total REGI U.S., Inc stockholders' deficit	(2,040,729)	(1,465,496)
Noncontrolling interest	54,783	54,783
Total stockholders' deficit	(1,985,946)	(1,410,713)
Total Liabilities and Stockholders' Deficit	$ 61,004	$ 152,297

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Oct. 31, 2018	Apr. 30, 2018
Statement of Financial Position [Abstract]
Convertible promissory notes, unamortized discount, current	$ 139,249	$ 15,959
Convertible promissory notes - related parties, unamortized discount, current	15,502	2,639
Convertible promissory notes, unamortized discount non-current	182,694	507,699
Convertible promissory notes - related parties, unamortized discount, non-current	$ 19,401	$ 52,177
Common stock, shares authorized	150,000,000	150,000,000
Common stock, no par value
Common stock, shares issued	101,765,444	99,698,583
Common stock, shares outstanding	101,765,444	99,698,583

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Income Statement [Abstract]
Total Income from Sales	$ 40,000		$ 40,000
Operating Expenses
Accounting and legal	25,233	52,859	45,954	76,780
General and administrative expenses	9,842	52,343	33,118	65,615
Research and development	121,050	249,301	241,408	398,778
Shareholder communication	16,733	16,936	37,343	49,068
Wages & Contractors	69,623	34,000	166,537	151,500
Operating Loss	(202,481)	(405,439)	(484,360)	(741,741)
Other Income (Expense)
Gain on debt settlement	7,217		7,217
Misc Revenue	15,000		15,000
Interest expense	(162,115)	(143,030)	(315,178)	(197,280)
Total Other Income (Expense)	(139,898)	(143,030)	(292,961)	(197,280)
Net loss before noncontrolling interest	(342,379)	(548,469)	(777,321)	(939,021)
Net Loss Attributed to Noncontrolling Interest
Net Loss Attributed to the Company	$ (342,379)	$ (548,469)	$ (777,321)	$ (939,021)
Loss per share	$ 0	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding - basic and diluted	100,991,028	84,932,860	100,391,218	84,688,622
Comprehensive loss:
Net Loss	$ (342,379)	$ (548,469)	$ (777,321)	$ (939,021)
Translation adjustments
Comprehensive loss	(342,379)	(548,469)	(777,321)	(939,021)
Comprehensive loss attributable to noncontrolling interest
Comprehensive loss attributable to REGI U.S., Inc	$ (342,379)	$ (548,469)	$ (777,321)	$ (939,021)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
Operating Activities
Net loss	$ (777,321)	$ (939,021)
Adjustments to reconcile net loss to net cash from operating activities
Amortization of debt discount	215,227	89,805
Amortization of promissory note fees	9,972	7,384
Depreciation Expense	3,103	2,750
Revenue recognized on donated equipment	(15,000)
Shares issued for service		59,500
Service settled with convertible promissory notes	16,357	81,721
Service settled with convertible promissory notes - related party	79,332	52,000
Changes in non-cash working capital items
Prepaid expenses	7,776	(31,466)
Accounts payable and accrued liabilities	287,171	66,588
Due to related parties	(11,539)	2,883
Net Cash used for Operating Activities	(184,922)	(607,856)
Investing Activities
Purchase of furniture and equipment		(4,578)
Net Cash from (used for) Investing Activities		(4,578)
Financing Activities
Redemption of promissory note		(14,152)
Issuance of common shares for option exercise		15,500
Payments made on lease	(492)
Issuance of convertible promissory notes	90,000	770,849
Net Cash provided by financing activities	89,508	772,197
Net Change in Cash and Cash Equivalents	(95,414)	159,763
Cash and Cash Equivalents, Beginning of Year	111,823	67,818
Cash and Cash Equivalents, End of Year	16,409	227,581
Non-cash Items
Reclass from non related party convertible notes to related party convertible notes		60,000
Finder fee for promissory notes		62,600
Discount on convertible promissory notes for beneficial conversion features	5,850	691,197
Accounts payable settled with convertible promissory note	25,746	17,436
Shares issued for note conversion	170,491	44,803
Supplemental Disclosure of Cash Flow Information
Cash payments for Interest
Cash payments for Taxes

Nature of Business

Nature of Business	6 Months Ended
	Oct. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	1. Nature of Business REGI U.S., Inc. (“we”, “our”, the “Company”, “REGI”) has been engaged in the business of developing and building improved axial vane-type rotary devices for civilian, commercial and government applications with the marketing and intellectual rights in the U.S. Effective February 17, 2017 REGI purchased the worldwide marketing and intellectual rights, other than in the U.S., from Reg Technologies, Inc. (“Reg Tech”), a British Columbia company. $40,000 in revenue has been derived to date from REGI’s principal operations of research and development. REGI formed a wholly-owned subsidiary, Rad Max Technologies, Inc., on April 10, 2007 in the State of Washington.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Oct. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Principles of consolidation The accompanying unaudited interim consolidated financial statements of REGI have been prepared in accordance with accounting principles generally accepted in the United States of America, and should be read in conjunction with the audited financial statements and notes thereto for the year ended April 30, 2018 filed on Form 10-K with the SEC. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the financial position and the results of operations for the interim period presented herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or for any future period. Notes to the unaudited consolidated financial statements which would substantially duplicate the disclosures contained in the audited consolidated financial statements for fiscal 2018 as reported in the Form 10-K, have been omitted. These financial statements include the accounts of the Company, its wholly owned subsidiary, RadMax Technologies, Inc. and it previous wholly owned subsidiary, Rand Energy Group Inc. (“Rand”). All significant inter-company balances and transactions have been eliminated upon consolidation. Investment in associates Investments in which the Company has the ability to exert significant influence but does not have control are accounted for using the equity method whereby the original cost of the investment is adjusted annually for the Company’s share of earnings, losses and dividends during the current year. The Company entered into a Mutual Accord and Purchase Agreement on March 7, 2018, to sell all of its interest in Minewest Silver & Gold Inc. (“Minewest”), a British Columbia company, in exchange for settlement of its outstanding debt of $7,217to Minewest. The Company completed the final transfer of mining rights and Claim titles to Minewest on August 13, 2018. Risks and uncertainties The Company operates in an emerging industry that is subject to market acceptance and technological change. The Company’s operations are subject to significant risks and uncertainties, including financial, operational, technological and other risks associated with operating an emerging business, including the potential risk of business failure. Cash and cash equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less. Furniture and equipment Property and equipment are stated at cost, which includes the acquisition price and any direct costs to bring the asset into use at its intended location, less accumulated depreciation. Depreciation of property and equipment is calculated using the straight-line method to write off the cost, net of any estimated residual value, over their estimated useful lives of the assets as follows: Office equipment 5 years and electronic equipment 2 years. Depreciation of office equipment is included in general and administrative expenses; Depreciation of research equipment is included in research and development expense. Financial instruments Fair Value The carrying values of cash and cash equivalents, amounts due to related parties and accounts payable approximate their fair values because of the short-term maturity of these financial instruments. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows: - Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. - Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. - Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Interest Rate Risk The Company is not exposed to significant interest rate risk due to the short-term maturity of its monetary assets and liabilities. Credit Risk The Company’s financial asset that is exposed to credit risk consists primarily of cash. To manage the risk, cash is placed with major financial institutions. Currency Risk The Company’s functional currency is the US dollar and the reporting currency is the US dollar. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in US dollars. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. For reporting purposes assets and liabilities with Canadian dollar as functional currency are translated into US dollar at the period end rates of exchange, and the results of the operations are translated at average rates of exchange for the period. The resulting translation adjustments are included in accumulated other comprehensive income in shareholders’ equity. Income taxes Deferred income taxes are reported for timing differences between items of income or expense reported in the consolidated financial statements and those reported for income tax purposes in accordance with ASC 740, “Income Taxes”, which requires the use of the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, and for tax losses and credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company provides for deferred taxes for the estimated future tax effects attributable to temporary differences and carry-forwards when realization is more likely than not. Basic and diluted net loss per share Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible debt using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. Stock-based compensation The Company accounts for stock-based compensation in accordance with FASB ASC 718 which establishes the accounting treatment for transactions in which an entity exchanges its equity instruments for goods or services. Under the provisions of FASB ASC 718, share-based payment compensation is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the requisite service period (generally the vesting period). The Company accounts for share-based payments to non-employees in accordance with FASB ASC 505-50. Use of estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from these estimates. The Company regularly evaluates estimates and assumptions related to useful life and recoverability of long-lived assets, stock-based compensation 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. Research and development costs Research and development costs are expensed as incurred. Related Parties In accordance with ASC 850 “Related Party Disclosure”, a party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. Recent accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements. Reclassifications Certain reclassifications have been made to the prior year financial information to conform to the presentation used in the financial statements for the six months ended October 31, 2018.

Going Concern

Going Concern	6 Months Ended
	Oct. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	3. Going Concern The Company incurred net losses of $777,321 for the six months ended October 31, 2018 and has a working capital deficit of $1,409,218 and an accumulated deficit of $24,840,720 at October 31, 2018. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. As a result, the Company’s consolidated financial statements as of October 31, 2018 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company also receives interim support from related parties and plans to raise additional capital through debt and/or equity financings. There is no assurance that any of these activities will be successful. There continues to be insufficient funds to provide enough working capital to fund ongoing operations for the next twelve months.

Property and Equipment

Property and Equipment	6 Months Ended
	Oct. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment at October 31, 2018 and April 30, 2018 consists of the following: October 31, 2018 April 30, 2018 Equipment $ 22,040 $ 7,040 Furniture and fixtures 14,213 14,213 36,253 21,253 Less accumulated depreciation 11,352 8,249 $ 24,901 $ 13,004 Depreciation expense totaled $3,103 and $2,750 for the six months ended October 31, 2018 and 2017, respectively.

Secured Convertible Promissory

Secured Convertible Promissory Notes	6 Months Ended
	Oct. 31, 2018
Debt Disclosure [Abstract]
Secured Convertible Promissory Notes	5. Secured Convertible Promissory Notes As of October 31, 2018, REGI has outstanding senior secured convertible promissory notes (the “Convertible Notes”) of $257,007 (net of unamortized discount of $34,903) issued to related parties and $1,117,770, (net of unamortized discount of $321,943) issued to non-related parties. As of April 30, 2018, REGI has outstanding Convertible Notes of $142,762 (net of unamortized discount of $54,816) issued to related parties and $997,468 (net of unamortized discount of $523,658) issued to non-related parties. During the six months ended October 31, 2018 the Company issued Convertible Notes for service debt provided by related parties of $47,400. During the twelve months ended April 30, 2018 the Company issued Convertible Notes for cash proceeds of $1,212,849, settled accounts payable from previous years of $17,436, service debt provided by related parties of $131,577, and service debt provided by non-related parties of $182,696 of which $66,600 was finders’ fee and legal fees for cash based Convertible Notes recorded as discount to the Convertible Notes. The Convertible Notes are secured against all assets of the Company, repayable two years after the issuance, bearing simple interest rate of 10% during the term of the notes and simple interest rate of 20% after the due date with the exception of one Convertible Note of $140,278 (net of unamortized discount of $3,012) repayable nine months after issuance, bearing simple interest of 2% during the term of the note and simple interest rate of 15% after the due date. As of October 31, 2018, $17,436, $40,800, $1,513,385, $60,000 and $100,000 of the Convertible Notes are convertible at any time on or after ninety days from the issuance date into the Company’s common stocks at $0.174, $0.12, $0.10, $0.09 and $0.08 per share respectively. The Company analyzed the conversion option in the notes for derivative accounting treatment under ASC Topic 815, “Derivatives and Hedging,” and determined that the instrument does not qualify for derivative accounting. The Company determined that the conversion option was subject to a beneficial conversion feature and during the six months ended October 31, 2018 the company recorded amortization of the beneficial conversion feature of $113,692 as interest expense. During the year ended April 30, 2018 the company recorded a total beneficial conversion feature of $1,027,441, and amortization of the beneficial conversion feature of $510,311 as interest expense.

Related Parties

Related Parties	6 Months Ended
	Oct. 31, 2018
Related Party Transactions [Abstract]
Related Parties	6. Related Parties Amounts due to related parties are unsecured, non-interest bearing and due on demand. Related parties consist of the directors and officers and a former director of REGI and companies controlled or significantly influenced by these parties. As of October 31, 2018, there was $94,792 due to related parties. As of April 30, 2018, there was $106,823 due to related parties.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Oct. 31, 2018
Equity [Abstract]
Stockholders' Equity	7. Stockholders’ Equity a) Common Stock During the six months ended October 31, 2018, non-related party convertible promissory notes of $155,722 and its accrued interest of $37,828 were converted into 1,937,189 shares REGI’s common stock at $0.10 and $0.05 per share. During the year ended April 30, 2018 related party convertible promissory notes of $126,152 and accrued interest of $10,931 were converted into a total of 1,369,964 shares of REGI’s common stock at $0.10 per share, and convertible promissory notes of $755,185 and accrued interest of $41,173 were converted into a total of 1,054,779 shares of REGI’s common stock at $0.755 per share. During the twelve months ended April 30, 2018 non-related party convertible promissory notes of $531,940 and accrued interest of $26,569 were converted into 5,630,543 shares of common stock at $0.10 per share, principal of $3,848 and accrued interest of $623 were converted into 55,892 shares of common stock at $0.08 per share, principal of $10,000 and accrued interest of $879 were converted into 99,661 shares of commons stock at $0.12 per share. During the twelve months ended April 30, 2018 the Company issued 155,000 shares of its common stock for options exercised at $0.10 per share for a total of $15,500. Among the 155,000 shares of common stock, 55,000 were issued to a related party. During the twelve months ended April 30, 2018 the Company issued 3,310,000 shares of its common stock for services provided by the directors, officers, employees and consultants of the Company with the total value recorded at $562,700 based on the market trading price as of the issuance date. On November 2, 2017 the Company issued 3,172,269 shares of its common stock to Rand Energy. No value was assigned to these shares, as Rand Energy did not have any assets. These shares together with 827,721 shares of common stock initially owned by Rand Energy and recorded as the Company’s treasury shares, were transferred to the 49% shareholders of Rand Energy, as consideration for purchase of all of the 49% interest in Rand Energy, resulting in the Company owning 100% equity interest in Rand Energy. b) Common Stock Options and Warrants On March 1, 2018, REGI granted an aggregate of 1,400,000 common stock options for services. These options vest upon grant, expire on March 1, 2023 and are exercisable at the following prices: Options Exercise price 450,000 $ 0.10 250,000 $ 0.20 125,000 $ 0.35 125,000 $ 0.50 100,000 $ 0.75 100,000 $ 1.00 125,000 $ 1.25 125,000 $ 1.50 1,400,000 On April 30, 2018, REGI granted an aggregate of 500,000 common stock options for services. These options vest upon grant, expire on April 30, 2023 and are exercisable at the following prices: Options Exercise price 100,000 $ 1.00 100,000 $ 2.00 100,000 $ 3.00 100,000 $ 4.00 100,000 $ 5.00 500,000 A summary of REGI’s stock option activities for the six months ended October 31, 2018 and year ended April 30, 2018 are as follows: Six months ended Year ended October 31, 2018 April 30, 2018 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of period 9,355,000 $ 0.52 9,138,000 $ 0.31 Granted - 1,900,000 1.17 Exercised - (155,000 ) 0.10 Forfeited or expired - (1,528,000 ) 0.20 Outstanding at end of period 9,355,000 $ 0.52 9,355,000 $ 0.52 Exercisable at end of period 9,163,750 $ 0.53 9,163,750 $ 0.53 The weighted average remaining contractual life of the options is 3.16 years at October 31, 2018, and 3.67 years at April 30, 2018. At October 31 and April 30, 2018 there were no warrants outstanding.

Income Taxes

Income Taxes	6 Months Ended
	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The Company is subject to the income tax laws of the United States and the States of Washington and Oregon, and uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. On December 22, 2017, the U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law by President Trump. The Tax Reform Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax rate from 35% to 21% effective January 1, 2018, while also repealing the deduction for domestic production activities, implementing a territorial tax system and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries. U.S. GAAP requires that the impact of tax legislation be recognized in the period in which the law was enacted. The Company does not anticipate that the “Tax Reform Act” will have any substantial effect on the Company’s financial position in the near future. Deferred tax assets consist of the tax effect of NOL carry-forwards. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its reliability. The composition of REGI’s deferred tax assets at October 31 and April 30, 2018: October 31 ,2018 April 30, 2018 Net operating loss carry-forward $ 4,050,220 $ 3,272,901 Deferred tax asset 850,547 687,309 Less: Valuation allowance (850,547 ) (687,309 ) Net deferred tax asset $ - $ -

Subsequent Events

Subsequent Events	6 Months Ended
	Oct. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events Management has evaluated subsequent events from the balance sheet date through the date the financial statements were available to be issued and note these events, 1. The Company entered into a Convertible Note with Labrys Fund, LP., on November 30, 2018 for $220,000.00, six month term at 12% annual Interest. 2,000,000 shares of the Company were issued as restricted assurance shares should the loan not be paid back per it terms and conditions. 2. These working capital funds are being used to pay off FirstFire Capital Management LLC, (FirstFire) April 12 th 3. The Company raised an additional $192,500 from four individuals via its internal Senior Convertible Loan Program. (SCLP) 4. Battelle Memorial Institute, Pacific Northwest National Laboratory signed a purchase order in the amount of $45,000 to complete three tasks by February 28, 2019. Task 1 – complete base design; Task 2 – Order Raw Materials and start manufacturing; Task 3 – Deliver Prototype Expander. Tasks 1 and 2 were completed and billed for by November 15, 2018.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Oct. 31, 2018
Accounting Policies [Abstract]
Principles of Consolidation	Principles of consolidation The accompanying unaudited interim consolidated financial statements of REGI have been prepared in accordance with accounting principles generally accepted in the United States of America, and should be read in conjunction with the audited financial statements and notes thereto for the year ended April 30, 2018 filed on Form 10-K with the SEC. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the financial position and the results of operations for the interim period presented herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or for any future period. Notes to the unaudited consolidated financial statements which would substantially duplicate the disclosures contained in the audited consolidated financial statements for fiscal 2018 as reported in the Form 10-K, have been omitted. These financial statements include the accounts of the Company, its wholly owned subsidiary, RadMax Technologies, Inc. and it previous wholly owned subsidiary, Rand Energy Group Inc. (“Rand”). All significant inter-company balances and transactions have been eliminated upon consolidation.
Investment in Associates	Investment in associates Investments in which the Company has the ability to exert significant influence but does not have control are accounted for using the equity method whereby the original cost of the investment is adjusted annually for the Company’s share of earnings, losses and dividends during the current year. The Company entered into a Mutual Accord and Purchase Agreement on March 7, 2018, to sell all of its interest in Minewest Silver & Gold Inc. (“Minewest”), a British Columbia company, in exchange for settlement of its outstanding debt of $7,217to Minewest. The Company completed the final transfer of mining rights and Claim titles to Minewest on August 13, 2018.
Risks and Uncertainties	Risks and uncertainties The Company operates in an emerging industry that is subject to market acceptance and technological change. The Company’s operations are subject to significant risks and uncertainties, including financial, operational, technological and other risks associated with operating an emerging business, including the potential risk of business failure.
Cash and Cash Equivalents	Cash and cash equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less.
Furniture and Equipment	Furniture and equipment Property and equipment are stated at cost, which includes the acquisition price and any direct costs to bring the asset into use at its intended location, less accumulated depreciation. Depreciation of property and equipment is calculated using the straight-line method to write off the cost, net of any estimated residual value, over their estimated useful lives of the assets as follows: Office equipment 5 years and electronic equipment 2 years. Depreciation of office equipment is included in general and administrative expenses; Depreciation of research equipment is included in research and development expense.
Financial Instruments	Financial instruments Fair Value The carrying values of cash and cash equivalents, amounts due to related parties and accounts payable approximate their fair values because of the short-term maturity of these financial instruments. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows: - Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. - Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. - Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Interest Rate Risk The Company is not exposed to significant interest rate risk due to the short-term maturity of its monetary assets and liabilities. Credit Risk The Company’s financial asset that is exposed to credit risk consists primarily of cash. To manage the risk, cash is placed with major financial institutions. Currency Risk The Company’s functional currency is the US dollar and the reporting currency is the US dollar. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in US dollars. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. For reporting purposes assets and liabilities with Canadian dollar as functional currency are translated into US dollar at the period end rates of exchange, and the results of the operations are translated at average rates of exchange for the period. The resulting translation adjustments are included in accumulated other comprehensive income in shareholders’ equity.
Income Taxes	Income taxes Deferred income taxes are reported for timing differences between items of income or expense reported in the consolidated financial statements and those reported for income tax purposes in accordance with ASC 740, “Income Taxes”, which requires the use of the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, and for tax losses and credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company provides for deferred taxes for the estimated future tax effects attributable to temporary differences and carry-forwards when realization is more likely than not.
Basic and Diluted Net Loss Per Share	Basic and diluted net loss per share Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible debt using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
Stock-based Compensation	Stock-based compensation The Company accounts for stock-based compensation in accordance with FASB ASC 718 which establishes the accounting treatment for transactions in which an entity exchanges its equity instruments for goods or services. Under the provisions of FASB ASC 718, share-based payment compensation is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the requisite service period (generally the vesting period). The Company accounts for share-based payments to non-employees in accordance with FASB ASC 505-50.
Use of Estimates	Use of estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from these estimates. The Company regularly evaluates estimates and assumptions related to useful life and recoverability of long-lived assets, stock-based compensation 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.
Research and Development Costs	Research and development costs Research and development costs are expensed as incurred.
Related Parties	Related Parties In accordance with ASC 850 “Related Party Disclosure”, a party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.
Recent Accounting Pronouncements	Recent accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior year financial information to conform to the presentation used in the financial statements for the six months ended October 31, 2018.

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Oct. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment at October 31, 2018 and April 30, 2018 consists of the following: October 31, 2018 April 30, 2018 Equipment $ 22,040 $ 7,040 Furniture and fixtures 14,213 14,213 36,253 21,253 Less accumulated depreciation 11,352 8,249 $ 24,901 $ 13,004

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Oct. 31, 2018
Summary of Stock Options Activity	A summary of REGI’s stock option activities for the six months ended October 31, 2018 and year ended April 30, 2018 are as follows: Six months ended Year ended October 31, 2018 April 30, 2018 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of period 9,355,000 $ 0.52 9,138,000 $ 0.31 Granted - 1,900,000 1.17 Exercised - (155,000 ) 0.10 Forfeited or expired - (1,528,000 ) 0.20 Outstanding at end of period 9,355,000 $ 0.52 9,355,000 $ 0.52 Exercisable at end of period 9,163,750 $ 0.53 9,163,750 $ 0.53
March 1, 2018 [Member]
Schedule of Common Stock Options Exercise Price	Options Exercise price 450,000 $ 0.10 250,000 $ 0.20 125,000 $ 0.35 125,000 $ 0.50 100,000 $ 0.75 100,000 $ 1.00 125,000 $ 1.25 125,000 $ 1.50 1,400,000
April 30, 2018 [Member]
Schedule of Common Stock Options Exercise Price	Options Exercise price 100,000 $ 1.00 100,000 $ 2.00 100,000 $ 3.00 100,000 $ 4.00 100,000 $ 5.00 500,000

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets	The composition of REGI’s deferred tax assets at October 31 and April 30, 2018: October 31 ,2018 April 30, 2018 Net operating loss carry-forward $ 4,050,220 $ 3,272,901 Deferred tax asset 850,547 687,309 Less: Valuation allowance (850,547 ) (687,309 ) Net deferred tax asset $ - $ -

Nature of Business (Details Nar

Nature of Business (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenues	$ 40,000		$ 40,000

Significant Accounting Polici_3

Significant Accounting Policies (Details Narrative) - USD ($)	Mar. 07, 2018	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Gain on debt settlement		$ 7,217		$ 7,217
Office Equipment [Member]
Property, plant and equipment, estimated useful lives				5 years
Electronic Equipment [Member]
Property, plant and equipment, estimated useful lives				2 years
Minewest Silver and Gold Inc. [Member]
Gain on debt settlement	$ 7,217

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017	Apr. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 342,379	$ 548,469	$ 777,321	$ 939,021
Working capital deficit	1,409,218		1,409,218
Accumulated deficit	$ 24,840,720		$ 24,840,720		$ 24,063,399

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3,103	$ 2,750

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Oct. 31, 2018	Apr. 30, 2018
Property and equipment, gross	$ 36,253	$ 21,253
Less accumulated depreciation	11,352	8,249
Property and equipment, net	24,901	13,004
Equipment [Member]
Property and equipment, gross	22,040	7,040
Furniture and Fixtures [Member]
Property and equipment, gross	$ 14,213	$ 14,213

Secured Convertible Promissor_2

Secured Convertible Promissory Notes (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Apr. 30, 2018
Convertible promissory notes - related parties	$ 163,509		$ 84,401
Convertible promissory notes - related parties, unamortized discount	19,401		52,177
Convertible promissory notes	438,120		417,492
Issuance of convertible promissory notes	90,000	$ 770,849
Settlement of accounts payable	25,746	17,436
Finder fee for promissory notes		$ 62,600
Interest expense	113,692		510,311
Beneficial conversion feature			1,027,441
Secured Convertible Promissory Notes [Member]
Convertible promissory notes - related parties	257,007		142,762
Convertible promissory notes - related parties, unamortized discount	34,903		54,816
Convertible promissory notes	1,117,770		997,468
Convertible promissory notes, unamortized discount	321,943		523,658
Convertible Notes [Member]
Convertible promissory notes	140,278
Convertible promissory notes, unamortized discount	3,012
Service debt provided by related parties	$ 47,400		131,577
Issuance of convertible promissory notes			1,212,849
Settlement of accounts payable			17,436
Services debt provided by non-related parties			182,696
Finder fee for promissory notes			$ 66,600
Debt maturity period, description	The Convertible Notes are secured against all assets of the Company, repayable two years after the issuance, bearing simple interest rate of 10% during the term of the notes and simple interest rate of 20% after the due date with the exception of one Convertible Note of $140,278 (net of unamortized discount of $3,012) repayable nine months after issuance, bearing simple interest of 2% during the term of the note and simple interest rate of 15% after the due date.
Debt interest rate percentage	2.00%
Convertible Notes [Member] | After Due Date [Member]
Debt interest rate percentage	15.00%
Promissory Notes One [Member]
Convertible promissory notes	$ 17,436
Convertible price per shares	$ 0.174
Promissory Notes Two [Member]
Convertible promissory notes	$ 40,800
Convertible price per shares	$ 0.12
Promissory Notes Three [Member]
Convertible promissory notes	$ 1,513,385
Convertible price per shares	$ 0.10
Promissory Notes Four [Member]
Convertible promissory notes	$ 60,000
Convertible price per shares	$ 0.09
Promissory Notes Five [Member]
Convertible promissory notes	$ 100,000
Convertible price per shares	$ 0.08

Related Parties (Details Narrat

Related Parties (Details Narrative) - USD ($)	Oct. 31, 2018	Apr. 30, 2018
Related Party Transactions [Abstract]
Due to related parties	$ 94,794	$ 106,823

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	Apr. 30, 2018	Mar. 02, 2018	Nov. 02, 2017	Oct. 31, 2018	Oct. 31, 2017	Apr. 30, 2018
Debt conversion converted instrument				$ 170,491	$ 44,803
Stock issued for exercise of options, shares						155,000
Stock option granted for services	500,000	1,400,000				1,900,000
Stock option expire date	Apr. 30, 2023	Mar. 1, 2023
Weighted average remaining contractual term				3 years 1 month 27 days		3 years 8 months 2 days
Rand Energy [Member]
Number of common shares issued			3,172,269
Treasury shares owned			827,721
Equity investment percentage			49.00%
Ownership percentage			100.00%
Related Party [Member]
Stock issued for exercise of options, shares						155,000
Price per share	$ 0.10					$ 0.10
Stock issued to related party						$ 15,500
Number of common shares issued						55,000
Directors, Officers, Employees and Consultants [Member]
Stock issued for services, shares						3,310,000
Stock issued for services						$ 562,700
Non-Related Party Convertible Promissory Notes [Member]
Debt conversion converted instrument				$ 155,722
Accrued interest				$ 37,828
Debt conversion converted instrument, shares				1,937,189
Non-Related Party Convertible Promissory Notes [Member] | Common Stock One [Member]
Debt conversion converted instrument, price per share				$ 0.10
Non-Related Party Convertible Promissory Notes [Member] | Common Stock Two [Member]
Debt conversion converted instrument, price per share				$ 0.05
Related Party Convertible Promissory Note [Member]
Debt conversion converted instrument						126,152
Accrued interest	$ 10,931					$ 10,931
Debt conversion converted instrument, shares						1,369,964
Debt conversion converted instrument, price per share	$ 0.10					$ 0.10
Convertible Promissory Note [Member]
Debt conversion converted instrument						$ 755,185
Accrued interest	$ 41,173					$ 41,173
Debt conversion converted instrument, shares						1,054,779
Debt conversion converted instrument, price per share	$ 0.755					$ 0.755
Non-Related Party Convertible Promissory Note [Member]
Debt conversion converted instrument						$ 531,940
Accrued interest	$ 26,569					$ 26,569
Debt conversion converted instrument, shares						5,630,543
Debt conversion converted instrument, price per share	$ 0.10					$ 0.10
Non-Related Party Convertible Promissory Note One [Member]
Debt conversion converted instrument						$ 3,848
Accrued interest	$ 623					$ 623
Debt conversion converted instrument, shares						55,892
Debt conversion converted instrument, price per share	$ 0.08					$ 0.08
Non-Related Party Convertible Promissory Note Two [Member]
Debt conversion converted instrument						$ 10,000
Accrued interest	$ 879					$ 879
Debt conversion converted instrument, shares						99,661
Debt conversion converted instrument, price per share	$ 0.12					$ 0.12

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock Options Exercise Price (Details) - $ / shares	Apr. 30, 2018	Mar. 02, 2018	Oct. 31, 2018	Apr. 30, 2018
Total stock option granted	500,000	1,400,000		1,900,000
Stock option exercise price				$ 1.17
Options 1 [Member]
Total stock option granted	100,000	450,000
Stock option exercise price	$ 1	$ 0.10
Options 2 [Member]
Total stock option granted	100,000	250,000
Stock option exercise price	$ 2	$ 0.20
Options 3 [Member]
Total stock option granted	100,000	125,000
Stock option exercise price	$ 3	$ 0.35
Options 4 [Member]
Total stock option granted	100,000	125,000
Stock option exercise price	$ 4	$ 0.50
Options 5 [Member]
Total stock option granted	100,000	100,000
Stock option exercise price	$ 5	$ 0.75
Options 6 [Member]
Total stock option granted		100,000
Stock option exercise price		$ 1
Options 7 [Member]
Total stock option granted		125,000
Stock option exercise price		$ 1.25
Options 8 [Member]
Total stock option granted		125,000
Stock option exercise price		$ 1.50

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Options Activity (Details) - $ / shares	Apr. 30, 2018	Mar. 02, 2018	Oct. 31, 2018	Apr. 30, 2018
Equity [Abstract]
Options, Outstanding at beginning of period			9,355,000	9,138,000
Options, Granted during the period	500,000	1,400,000		1,900,000
Options, Exercised during the period				(155,000)
Options, Forfeited or expired during the period				(1,528,000)
Options, Outstanding at end of period	9,355,000		9,355,000	9,355,000
Options, Exercisable at end of period	9,163,750		9,163,750	9,163,750
Weighted Average Exercise Price, Outstanding at beginning of period			$ 0.52	$ 0.31
Weighted Average Exercise Price, Granted during the period				1.17
Weighted Average Exercise Price, Exercised during the period				0.10
Weighted Average Exercise Price, Forfeited or expired during the period				0.20
Weighted Average Exercise Price, Outstanding at end of period	$ 0.52		0.52	0.52
Weighted Average Exercise Price, Exercisable at end of period	$ 0.53		$ 0.53	$ 0.53

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	6 Months Ended
	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Income tax rate description	On December 22, 2017, the U.S. Tax Cuts and Jobs Act (the "Tax Reform Act") was signed into law by President Trump. The Tax Reform Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax rate from 35% to 21% effective January 1, 2018, while also repealing the deduction for domestic production activities, implementing a territorial tax system and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries.
Corporate tax rate	21.00%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)	Oct. 31, 2018	Apr. 30, 2018
Income Tax Disclosure [Abstract]
Net operating loss carry forward	$ 4,050,220	$ 3,272,901
Deferred tax asset	850,547	687,309
Less: Valuation allowance	(850,547)	(687,309)
Net deferred tax asset

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Nov. 30, 2018	Apr. 12, 2018	Oct. 31, 2018
February 28, 2019 [Member]
Amount of purchase order			$ 45,000
FirstFire Capital Management LLC [Member]
Debt face amount		$ 150,000
Senior Convertible Promissory Note [Member] | FirstFire Capital Management LLC [Member]
Debt face amount		$ 162,000
Number of common stock issued for convertible promissory notes		500,000
Senior Convertible Loan Program [Member] | Four Individuals [Member]
Debt face amount			$ 192,500
Subsequent Event [Member] | Convertible Note [Member] | Labrys Fund, LP [Member]
Debt face amount	$ 220,000
Debt instrument interest rate	12.00%
Number of common stock issued for convertible promissory notes	2,000,000