Securities Purchase Agreement (Details Narrative) (USD $)
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12 Months Ended | 0 Months Ended | 1 Months Ended | ||||||||
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Apr. 30, 2014
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Apr. 30, 2012
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Mar. 18, 2013
Securities Purchase Agreement
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May 11, 2011
Securities Purchase Agreement
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Mar. 31, 2014
Securities Purchase Agreement
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Sep. 30, 2013
Securities Purchase Agreement
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Mar. 20, 2014
Securities Purchase Agreement
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Sep. 23, 2013
Securities Purchase Agreement
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Sep. 18, 2013
Securities Purchase Agreement
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Apr. 30, 2014
Warrants #1
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Apr. 30, 2014
Warrants #2
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Securities Purchase Agreement of May 11, 2011 (Textual) [Abstract] | |||||||||||
Number of common stock sold | 295,833 | 219,754 | 350,000 | ||||||||
Number of common stock called by warrants | 221,875 | 350,000 | |||||||||
Net proceeds from sale of common stock and warrants | $ 1,561,000 | $ 2,998,000 | $ 2,998,000 | $ 695,491 | |||||||
Combination of securities offered in Securities Purchase Agreement, description | The common stock and warrants were sold in fixed combinations, with each combination consisting of one share of common stock and 0.75 of one warrant, with each whole warrant exercisable for one share of common stock. | The Company offered 350,931 shares of common stock and 350,931 common stock warrants to certain investors. | |||||||||
Purchase price per fixed combination | 11.28 | 3.00 | 2.30 | ||||||||
Description of period for exercisability of warrants | The warrants became exercisable six months and one day following the closing date of the Offering and will remain exercisable for five years thereafter. | The exercisability of the warrants may be limited if, upon exercise, the holder or any of its affiliates would beneficially own more than 4.99% of the Common Stock. After the one year anniversary of the initial exercise date of the warrants, the Company had the right to call the warrants for cancellation for $.001 per share in the event that the volume weighted average price of the Common Stock for 20 consecutive trading days exceeds $10.00. | |||||||||
Warrants exercised | 86,100 | ||||||||||
Exercise price of warrants | $ 13.56 | $ 3.50 | $ 13.56 | $ 3.50 | |||||||
Proceeds from exercise of warrants | 306,350 | ||||||||||
Stock warrants outstanding | 485,775 | 221,875 | 263,900 | ||||||||
Common stock issued upon exercise of warrants | 86,100 | ||||||||||
Percentage of holding in common stock after which exercisability of warrant may be limited | 4.99% | ||||||||||
Right to call warrants for cancellation, description | After the one year anniversary of the initial exercise date of the warrants, the Company has the right to call the warrants for cancellation for $.006 per share in the event that the volume weighted average price of the Company's Common Stock for 20 consecutive trading days exceeds $27.12 | ||||||||||
Estimated offering expenses | $ 559,000 | $ 807,000 | |||||||||
Stock split, description | All prices have been adjusted to reflect the reverse 6-for-1 stock split which was effective March 18, 2013. |