Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
 12 Months Ended
Apr. 30, 2014
Apr. 30, 2013
Apr. 30, 2012
Cash flows from operating activities:      
Net loss $ (2,609,000) $ (4,625,000) $ (3,259,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 300,000 443,000 660,000
Bad debt expense 186,000 57,000 14,000
Stock-based compensation expense 43,000 231,000 451,000
Gain on sale of property and equipment (139,000)      
Impairment of goodwill    438,000  
Impairment of software development cost       2,387,000
Gain on sale of patents       (4,078,000)
Changes in assets and liabilities:      
Decrease (increase) in accounts and notes receivable (689,000) (337,000) 2,011,000
Decrease in inventories 612,000 29,000 2,530,000
Decrease (increase) in other current assets 74,000 34,000 12,000
Decrease (increase) in other assets 5,000 (1,000) 56,000
Increase (decrease) in accounts payable 491,000 (69,000) (1,928,000)
Increase (decrease) in accrued liabilities 172,000 (82,000) (74,000)
Net cash used in operating activities (1,554,000) (3,882,000) (1,218,000)
Cash flows from investing activities:      
Acquisition of business    (68,000) (211,000)
Additions to property and equipment    (6,000) (232,000)
Software development costs       (907,000)
Proceeds from sale of property and equipment 500,000      
Proceeds from sale of patents       4,078,000
Issuance of note receivable    (275,000)   
Net cash provided by (used in) investing activities 500,000 (349,000) 2,728,000
Cash flows from financing activities:      
Net borrowings (repayments) under revolving credit line 1,094,000 1,755,000 (2,033,000)
Net proceeds (payments) from related party note payable (1,667,000) (333,000) 500,000
Net proceeds from sale of common stock 1,561,000   2,998,000
Purchase of treasury stock    (142,000) (45,000)
Net cash provided by financing activities 988,000 1,280,000 1,420,000
Net (decrease) increase in cash and cash equivalents (66,000) (2,951,000) 2,930,000
Cash and cash equivalents at beginning of year 324,000 3,275,000 345,000
Cash and cash equivalents at end of year 258,000 324,000 3,275,000
Supplemental disclosure of non-cash financing activities:      
Borrowings from and repayment to related party       1,500,000
Supplemental disclosures of cash flow information:      
Cash paid during the period for interest 324,000 226,000 365,000
Cash paid during the period for income taxes    $ 5,000 $ 5,000