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 ($)
 6 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Cash flows from operating activities:    
Net loss $ (97,062) $ (2,266,728)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of deferred gain on sale leaseback (35,832) (35,831)
Depreciation and amortization 68,301 53,999
Bad debt expense $ 5,222 23,147
Amortization of debt discount 750,000
Stock-based compensation expense $ 272,317 9,432
Changes in assets and liabilities:    
Increase (decrease) in accounts receivable (1,126,469) 678,774
Decrease in inventories 697,696 219,125
Increase in other current assets (3,806) (162,117)
Decrease in other assets 19,731 1,950
Increase in accounts payable 33,353 810,607
Decrease in accrued liabilities (107,532) (338,367)
Net cash used in operating activities $ (274,081) (256,009)
Cash flows from investing activities:    
Software development costs $ (365,424)
Additions of property and equipment $ (22,000)
Net cash used in investing activities (22,000) $ (365,424)
Cash flows from financing activities:    
Net borrowings (repayments) under revolving credit line $ 13,295 (353,483)
Proceeds from issuance of notes and warrants $ 750,000
Repayment of convertible notes $ (27,500)
Proceeds from sales of preferred shares 100,000
Proceeds from sale of common shares 500,000
Net cash provided by financing activities 585,795 $ 396,517
Net increase (decrease) in cash and cash equivalents 289,714 (224,916)
Cash and cash equivalents at beginning of period 327,298 257,633
Cash and cash equivalents at end of period 617,012 32,717
Cash paid during the period for:    
Interest $ 116,370 127,032
Supplemental disclosures of non cash flow information:    
Debt discount on convertible notes payable $ 750,000
Issuance of common stock for accrued dividend on Series A preferred shares $ 174,233