REGI U S INC

CIK:0000922330|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2020	Jan. 31, 2019
Income Statement [Abstract]
REVENUE	$ 37,750	$ 35,000	$ 62,750	$ 75,000
COST OF REVENUE	18,188		18,188
GROSS MARGIN	19,562	35,000	44,562	75,000
OPERATING EXPENSE
Accounting and legal	25,126	30,831	72,980	76,785
Compensation and consulting	232,059	72,296	395,333	238,833
Stockholder relations	(357)	13,124	54,849	50,467
Depreciation and amortization	7,058	946	12,061	4,049
Stock-based compensation	19,740		217,701
General and administrative expenses	9,692	19,608	63,366	49,623
Research and development	(115,675)	124,301	76,034	365,709
TOTAL OPERATING EXPENSES	177,643	261,106	892,324	785,466
LOSS FROM OPERATIONS	(158,081)	(226,106)	(847,762)	(710,466)
OTHER INCOME (EXPENSE)
Interest and financing expense	(33,127)	(237,081)	(96,324)	(552,258)
Interest expense, related party	(28,331)		(78,316)
Amortization of derivative and debt discount	(48,540)		(225,634)
Loss on issuance of note		(156,870)		(156,870)
Loss on extinguishment of debt	(75,413)		(75,413)
Loss on settlement of debt		(57,605)		(50,388)
Loss on change in fair value of derivative liability		(311,071)	327,166	(311,071)
Miscellaneous revenue				15,000
TOTAL OTHER INCOME (EXPENSE)	(185,411)	(762,627)	(148,521)	(1,055,587)
NET LOSS	$ (343,492)	$ (988,733)	$ (996,283)	$ (1,766,053)
Loss per share - basic and diluted	$ (0.00)	$ (0.01)	$ (0.01)	$ (0.02)
Weighted average number of common shares outstanding - basic and diluted	111,705,233	103,289,817	108,033,606	101,865,541

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (996,283)	$ (1,766,053)
Adjustments to reconcile net loss to cash used by operating activities
Amortization of debt discount and promissory note fees	225,634	523,999
Loss on initial recording of derivative liability		131,871
Change in fair value of derivative liability	(327,166)	311,071
Gain recognized on donated equipment		(15,000)
Loss on extinguishment of convertible notes	75,413
Depreciation	12,061	4,049
Share based compensation and shares issued for service	197,961	2,000
Convertible promissory notes issued for services	300	16,357
Convertible promissory notes, related party issued for services	75,000	79,332
Changes in operating assets and liabilities:
Prepaid expenses	627	(244)
Accounts receivable and other current assets	(22,021)
Inventory	(6,604)
Deposit	(2,000)
Accounts payable, accrued interest and other accrued liabilities	209,510	325,636
Derivative liability		311,069
Accrued interest	54,059
Due to related parties		8,373
Net cash used by operating activities	(503,509)	(378,611)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of furniture and equipment	(5,601)
Net cash used by investing activities	(5,601)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from promissory note, related party	225,000
Repayment of promissory note, related party	(479)
Repayment of equipment loans	(4,120)
Proceeds from sales of common stock and warrants	132,600
Proceeds from subscription of common stock	260,000	496,555
Proceeds from issuance of convertible promissory notes
Repayment of convertible promissory notes	(220,000)	(169,200)
Proceeds from issuance of convertible promissory notes, related party	200,000
Net cash provided by financing activities	593,001	327,355
Net increase (decrease) in cash and cash equivalents	83,891	(51,256)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	19,044	111,823
CASH AND CASH EQUIVALENTS AT END OF PERIOD	102,935	60,567
Cash payments for:
Interest
Taxes
NON-CASH FINANCING AND INVESTING ACTIVITIES:
Shares issued for conversion of promissory notes	285,879	371,831
Shares issued (returned) from security deposit	(114,000)	114,000
Discount on promissory notes for beneficial conversion features	185,670	5,850
Purchase of equipment with note payable	101,540
Accounts payable and accrued liabilities settled with convertible notes	98,070	3,000
Shares issued for accrued liabilities	29,740
Shares to be issued settled with common shares	19,117
Convertible notes settled with shares to be issued	4,830
Shares issued for vendor payables	96,898
Reclassification of rent deposit	$ 2,000

Consolidated Balance Sheets - USD ($)	Jan. 31, 2020	Apr. 30, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 102,935	$ 19,044
Accounts receivable	32,021	10,000
Prepaid expenses	8,056	8,683
Inventory	6,604
Other receivables, net of allowance for uncollectible accounts	4,675	4,675
TOTAL CURRENT ASSETS	154,291	42,402
FURNITURE AND EQUIPMENT, NET	116,048	20,968
DEPOSIT	2,000
TOTAL ASSETS	272,339	63,370
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	756,426	769,454
Due to related parties	53,099	53,099
Deferred revenue	25,000	25,000
Derivative liability, net of unamortized discount of $Nil and $20,470, respectively		306,696
Convertible promissory notes, current portion - net of unamortized discount of $2,062 and $160,065, respectively	569,421	1,087,613
Other notes payable, current portion	46,960	25,000
TOTAL CURRENT LIABILITIES	1,450,906	2,266,862
LONG-TERM LIABILITIES:
Convertible promissory notes - long term portion, net of unamortized discount of $144,081 and $5,570, respectively	969,034	415,792
Other notes payable, long term portion	315,950	15,969
TOTAL LONG-TERM LIABILITIES	1,284,984	431,761
TOTAL LIABILITIES	2,735,890	2,698,623
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY (DEFICIT)
Common Stock, no par value; unlimited shares authorized; 118,358,476 and 108,911,309 shares issued and outstanding, respectively	25,164,119	24,091,017
Returnable shares issued Nil and 2,000,000 shares, respectively		(114,000)
Shares to be issued		19,117
Accumulated deficit	(27,319,678)	(26,323,395)
Accumulated other comprehensive loss	(362,775)	(362,775)
TOTAL REGI US, Inc. stockholders' deficit	(2,518,334)	(2,690,036)
Non-controlling interest	54,783	54,783
TOTAL STOCKHOLDERS' DEFICIT	(2,463,551)	(2,635,253)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 272,339	$ 63,370