Summary of Significant Accounting Policies - Goodwill (Details Narrative) (USD $)
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12 Months Ended | 49 Months Ended | ||
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Apr. 30, 2013
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Apr. 30, 2012
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Apr. 30, 2011
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Apr. 30, 2013
Acquisition of Certain MMB Assets
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Contingent purchase price amount | $ 68,000 | $ 211,000 | ||
Cumulative contingent purchase amount | 1,519,000 | |||
Goodwill impairment triggering event | Based on a combination of factors that occurred in the fourth quarter of fiscal 2013, including the operating results of the MMB business unit, management concluded that a goodwill impairment triggering event had occurred. Accordingly, the Company performed a testing of the carrying value of $1,519,000 of goodwill for MMB using a discounted cash flow model to estimate the fair value of the reporting unit. After this testing, management concluded that the carrying value of the MMB business unit exceeded the fair value of this reporting unit. The implied fair value of the goodwill of the MMB business unit was calculated by allocating the fair values of substantially all of its individual assets, liabilities and identified intangible assets as if MMB business unit had been acquired in a business combination. | |||
Goodwill impairment charge | $ 438,000 |
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- Definition
No authoritative reference available. No definition available.
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- Definition
Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of the underlying cause of impairment of goodwill, such as a significant and more than temporary reduction in sales of a business unit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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