Financing Agreements (Details Narrative) - USD ($) |
1 Months Ended | 12 Months Ended | ||||
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Nov. 30, 2013 |
Apr. 30, 2016 |
Apr. 30, 2015 |
Apr. 30, 2014 |
Apr. 30, 2013 |
Nov. 06, 2013 |
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Financing Agreements (Textual) [Abstract] | ||||||
Sale leaseback, gain on sale of assets | $ 72,000 | $ 71,000 | ||||
Sale leaseback, portion of deferred gain in accrued liabilities | 159,000 | 282,000 | ||||
Sale leaseback, portion of deferred gain in other long term liabilities | 107,000 | 179,000 | ||||
Note and Security Agreement | Mr. Sheerr | ||||||
Financing Agreements (Textual) [Abstract] | ||||||
Frequency of periodic payment | Monthly | |||||
Date of first required payment, principal amount | Nov. 15, 2013 | |||||
Sale leaseback transaction, lease terms | The Company entered into an agreement with Mr. Sheerr to leaseback the equipment and furniture that was sold to Mr. Sheerr on October 31, 2013. The lease is for a term of 60 months and the Company is obligated to pay approximately $7,500 per month for the term of the lease. The Company has an option to extend the lease for an additional 2 year period. | |||||
Sale leaseback, monthly rental payments | $ 7,500 | |||||
Sale leaseback, gain on sale of assets | 103,000 | |||||
Sale leaseback, deferred gain | $ 358,000 | |||||
Sale leaseback, portion of deferred gain in accrued liabilities | 72,000 | 72,000 | ||||
Sale leaseback, portion of deferred gain in other long term liabilities | 107,000 | 179,000 | ||||
Rosenthal & Rosenthal Financing Agreement | ||||||
Financing Agreements (Textual) [Abstract] | ||||||
Formula-based secured debt financing capacity | $ 3,500,000 | $ 3,500,000 | ||||
Financing agreement, maturity date | Nov. 30, 2016 | |||||
Financing agreement, amount outstanding | 2,348,000 | 3,091,000 | ||||
Financing agreement, borrowed amounts under line of credit | $ 1,776,000 | $ 2,109,000 | ||||
Borrowings, collateral, description | Borrowings under the Financing Agreement are collateralized by substantially all the assets of the Company. | |||||
Interest rate, description | Loans outstanding under the Financing Agreement bear interest at a rate of the Prime Rate (as defined in the Financing Agreement) plus 3.25% (the "Effective Rate") or on Over-advances (as defined in the Financing Agreement), if any, at a rate of the Effective Rate plus 3%. | |||||
Loan facility, borrowing capacity, description | On April 29, 2014, the Company entered into an amendment (the Amendment) to the Financing Agreement. The Amendment provides for advances against inventory balances based on prescribed formulas of raw materials and finished goods. | |||||
Credit facility, covenant terms | The Financing Agreement contains other financial and restrictive covenants, including, among others, covenants limiting our ability to incur indebtedness, guarantee obligations, sell assets, make loans, enter into mergers and acquisition transactions and declare or make dividends. | |||||
Weighted average interest rate | 8.50% | 8.50% |
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- References No definition available.
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- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Date the debt agreement requires the first payment to be made, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the frequency of periodic payments (monthly, quarterly, annual). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the credit facility's borrowing capacity including discussion of how the borrowing capacity is determined (for example, borrowing capacity based on the amount of current assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Discussion of whether the borrowings under the credit facility are secured or unsecured and, if secured, a description of collateral (for example, accounts receivable less than 120 days old, finished goods inventory). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the conditions for borrowing under the credit facility including the nature of any restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fair value of the amount outstanding under the credit facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Weighted average interest rate of long-term debt outstanding. No definition available.
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- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of the deferred gain that was recognized in the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of the gain that will be recorded as income or a reduction in rent expense in future periods less amounts recognized in the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A description of the terms of the lease(s) related to the assets being leased-back in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of the monthly rental payments due under the lease entered into in connection with the transactions involving the sale of property to another party and the lease of the property back to the seller. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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