Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Jul. 31, 2015
Jul. 31, 2014
Cash flows from operating activities:    
Net loss $ (117,255) $ (759,767)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 24,001 26,999
Bad debt expense $ 2,078 10,397
Amortization of debt discount   133,333
Stock-based compensation expense $ 212,834 4,716
Amortization of deferred gain on sale leaseback (17,916) (17,915)
Changes in assets and liabilities:    
Decrease (increase) in accounts receivable (504,137) 337,619
Decrease in inventories 223,581 270,286
Increase in other current assets $ (13,888) (119,908)
Increase in other assets   (1,050)
Increase (decrease) in accounts payable $ (265,336) 39,821
Decrease in accrued liabilities (55,060) (108,598)
Net cash used in operating activities $ (511,099) (184,067)
Cash flows from investing activities:    
Software development costs   (142,191)
Net cash used in investing activities   (142,191)
Cash flows from financing activities:    
Net borrowings (repayments) under revolving credit line $ 254,136 $ (546,127)
Repayment of convertible notes 27,500  
Net proceeds from sales of preferred shares $ 500,000  
Proceeds from issuance of notes and warrants   $ 750,000
Net cash provided by financing activities $ 726,636 203,873
Net increase (decrease) in cash and cash equivalents 215,537 (122,385)
Cash and cash equivalents at beginning of period 327,298 257,633
Cash and cash equivalents at end of period 542,835 135,248
Cash paid during the period for:    
Interest $ 62,644 60,354
Income taxes   2,850
Supplemental disclosures of non cash flow information:    
Debt discount on convertible notes payable   $ 750,000