Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.5.0.2
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Apr. 30, 2016
Apr. 30, 2015
Income Statement [Abstract]    
Revenues $ 25,182,000 $ 28,258,000
Costs and expenses:    
Cost of sales 20,464,000 24,068,000
Engineering 191,000 768,000
Selling, general and administrative 5,767,000 6,171,000
Total costs and expenses 26,422,000 31,007,000
Loss from operations (1,240,000) (2,749,000)
Other income (expense):    
Interest expense (199,000) (1,001,000)
Foreign currency transactions gains (losses) 9,000 (76,000)
Gain on debt extinguishment 22,000
Total other expenses, net (168,000) (1,077,000)
Loss before income tax expenses (1,408,000) (3,826,000)
Gain on sale of State NOL 190,000
Income tax expense (3,000) (3,000)
Income tax benefit (expense) 187,000 (3,000)
Net loss (1,221,000) (3,829,000)
Dividend-Series A preferred stock 122,000 1,759,000
Net loss allocated to common shareholders $ (1,343,000) $ (5,588,000)
Net loss per common share    
Basic and diluted $ (0.82) $ (6.60)
Weighted average common shares outstanding    
Basic and diluted 1,648,287 846,170