Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS

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COMMITMENTS
6 Months Ended
Oct. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS
NOTE 12 - COMMITMENTS
 
On September 29, 2015, the Company entered into change in control agreements (the “Agreements”) with its Interim Chief Executive Officer (“CEO) and its Chief Financial Officer (“CFO”).
 
The Agreements have initial terms of four years and automatically extend for additional one-year periods at the expiration of the initial term and on each anniversary thereafter unless either party notifies the other party of non-renewal no later than 30 days prior to such anniversary. Under the Agreements, The CEO and CFO are entitled to payments of $350,000 and $150,000, respectively, upon a change in control of the Company.
 
All payments under the Agreements are contingent upon the respective officer’s execution and non-revocation of a general release of claims against the Company.