Related Party Transactions

3 Months Ended

Jul. 31, 2020

Related Party Transactions [Abstract]

Related Party Transactions

NOTE 7 — RELATED PARTY TRANSACTIONS

On April 16, 2019, the Company entered into a one-year consulting agreement with a director of the Company for providing services related to investor and strategic introduction to potential industry partners. In consideration for the services, the consultant was paid $3,750 per month in cash, and total shares of the Company’s common stock with a value of $45,000. In April 2019, the Company issued 4,592 shares of the Company’s common stock, valued at $45,000 at the market price on the dates of grant, in connection with this consulting agreement. This agreement was not renewed. The Company paid consulting fees to such director of $0 and $11,250 in cash during the three-month periods ended July 31, 2020 and 2019, respectively.

Accounts payable to related parties as of July 31, 2020 and April 30, 2019 was $34,497 and $3,459, respectively, and was reflected as accounts payable – related party in the accompanying consolidated balance sheets. The related party to which accounts were payable as of July 31, 2020 and 2019, was the Chief Financial Officer, who was owed a total of $34,497 (including $10,839 payable in shares of common stock) and a total of $3,459 (including $2,700 payable in shares of common stock), respectively.