Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations (Unaudited)

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Consolidated Statements of Operations (Unaudited) - USD ($)
12 Months Ended
Apr. 30, 2015
Apr. 30, 2014
Income Statement [Abstract]    
Revenues $ 28,258,000 $ 30,399,000
Costs and expenses:    
Cost of sales 24,068,000 24,353,000
Engineering 768,000 1,186,000
Selling, general and administrative 6,171,000 7,181,000
Total costs and expenses 31,007,000 32,720,000
Loss from operations $ (2,749,000) $ (2,321,000)
Other income (expense):    
Interest income    
Interest expense $ 1,001,000 $ 306,000
Currency gain (loss) (76,000) 18,000
Total other income (expense) (1,077,000) (288,000)
Loss before income tax expenses (3,826,000) $ (2,609,000)
Income tax expense 3,000  
Net loss (3,829,000) $ (2,609,000)
Less preferred stock dividends 1,759,000  
Net loss allocated to common shareholders $ (5,588,000) $ (2,609,000)
Net loss per common share    
Basic $ (2.20) $ (1.30)
Diluted $ (2.20) $ (1.30)