Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
Apr. 30, 2016
Apr. 30, 2015
Current assets:    
Cash $ 56,000 $ 327,000
Accounts receivable, less allowance of $100 and $140, respectively 2,746,000 2,171,000
Inventories, net 1,336,000 2,089,000
Other current assets 123,000 69,000
Total current assets 4,261,000 4,656,000
Property and equipment, net 51,000 121,000
Other assets 30,000 49,000
Capitalized software development costs, net 326,000 366,000
Goodwill 1,083,000 1,083,000
Total assets 5,751,000 6,275,000
Current liabilities:    
Note payable-revolving credit line 1,776,000 2,109,000
Accounts payable 737,000 880,000
Accrued liabilities 159,000 282,000
Convertible notes payable 600,000
Convertible notes payable related parties 80,000 108,000
Total current liabilities 2,752,000 3,979,000
Other liabilities 107,000 179,000
Total liabilities 2,859,000 4,158,000
Commitments and contingencies
Stockholders' equity:    
Common stock 2,000 1,000
Additional paid-in capital 24,556,000 24,638,000
Shares to be issued 111,000
Accumulated deficit (25,711,000) (24,490,000)
Total stockholders' equity 2,892,000 2,117,000
Total liabilities and stockholders' equity 5,751,000 6,275,000
Preferred Stock Series A    
Stockholders' equity:    
Preferred Stock 1,857,000
Preferred Stock Series B    
Stockholders' equity:    
Preferred Stock $ 4,045,000