Quarterly report pursuant to Section 13 or 15(d)

Acquisition and Disposition (Tables)

v3.19.1
Acquisition and Disposition (Tables)
9 Months Ended
Jan. 31, 2019
Schedule of Discontinued Operations

The following table sets forth for the year ended April 30, 2018, indicated selected financial data of the Company’s discontinued operations of its memory product business from the date of merger to April 30, 2018. 

 

    April 30, 2018  
Revenues   $ 7,885,310  
Cost of sales     6,653,363  
Gross profit     1,231,947  
Operating and other non-operating expenses (including impairment charge of 6,094,760)     (7,406,271 )
Gain from extinguishment of liabilities     248,684  
Loss from discontinued operations     (5,925,640 )
Gain from sale of discontinued operations     94,485  
         
Total loss from discontinued operations   $ (5,831,155 )

Gold King [Member]  
Schedule of Assets Acquired and Liabilities Assumed

The net purchase price paid by the Company was allocated to assets acquired and liabilities assumed on the records of the Company as follows: 

 

Current assets (including cash of $255,555)   $ 3,063,059  
Other assets     45,984  
Goodwill     6,094,760  
Liabilities assumed (including a note payable – credit line of $1,096,504)     (3,541,868 )
Net purchase price   $ 5,661,935  

Dataram Memory [Member]  
Schedule of Selected Financial Data of the Company's Gain from Sale

The following table sets forth for the year ended April 30, 2018, indicated selected financial data of the Company’s gain from sale of the Dataram Memory business.

 

Total consideration   $ 900,000  
Direct legal and sales commission expenses related to the sale     (201,510 )
Dataram’s accrued expenses to be deducted from the sales proceeds     (174,880 )
Total carrying value of Dataram Memory business on date of sale *     (429,125 )
Net gain from sale of Dataram Memory business   $ 94,485  

 

Current assets   $ 3,271,426  
Other assets     33,320  
Current liabilities     (2,866,660 )
Liabilities – long term     (8,961 )
* Total carrying value of Dataram Memory business on date of sale   $ 429,125