Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

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Income Taxes (Tables)
12 Months Ended
Apr. 30, 2015
Income Tax Disclosure [Abstract]  
Income tax expense
    2015     2014  
Current:                
Federal   $     $  
State     3,000       5,000  
      3,000       5,000  
Deferred:                
Federal            
State            
             
Total income tax expense   $ 3,000     $ 5,000  
Income tax expense differs from expected tax expense
    2015     2014  
             
Federal income tax at statutory rates   $ (1,301,000 )   $ (879,000 )
State income taxes (net of federal income tax benefit)     (99,000 )     (179,000 )
Impact of change in state rate     1,330,000          
Other     249,000       (105,000)  
                 
Total income tax expense (benefit) before provision for valuation allowance     179,000       (1,163,000 )
Changes in valuation allowance     (176,000     1,163,000  
Total income tax expense   $ 3,000     $ 0  
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities
    2015     2014  
Deferred tax assets:                
Compensated absences and severance, principally due to accruals for financial reporting purposes   $ 3,000     $ 75,000  
Stock-based compensation expense     1,151,000       1,275,000  
Accounts receivable, principally due to allowance for doubtful accounts and sales returns     49,000       86,000  
Property and equipment, principally due to differences in depreciation     216,000       240,000  
Intangible assets     53,000       430,000  
Inventories     54,000       68,000  
Domestic net operating losses     10,609,000       10,134,000  
Alternative minimum tax     438,000       438,000  
Capitalized R & D cost     128,000       0  
Other     23,000       153,000  
Net deferred tax assets     12,724,000       12,899,000  
                 
Valuation allowance     (12,724,000 )     (12,899,000 )
                 
Net deferred tax assets   $     $