Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended
Oct. 31, 2012
Oct. 31, 2011
Cash flows from operating activities:    
Net loss $ (2,223,474) $ (2,032,831)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 213,800 357,134
Bad debt expense 15,053 10,417
Stock-based compensation expense 178,987 283,188
Changes in assets and liabilities:    
Decrease (increase) in accounts receivable (60,954) 529,973
Decrease (increase) in inventories (886,005) 853,842
Increase in other current assets (74,432) (27,879)
Decrease (increase) in other assets (1,086) 14,525
Increase (decrease) in accounts payable (188,670) (1,254,387)
Increase (decrease) in accrued liabilities (96,552) 230,929
Net cash used in operating activities (3,123,333) (1,035,089)
Cash flows from investing activities:    
Acquisition of business (2,807) (211,053)
Additions to property and equipment    (223,949)
Software development costs    (907,069)
Issuance of note receivable (750,000)   
Net cash used in investing activities (752,807) (1,342,071)
Cash flows from financing activities:    
Net borrowings (payments) under revolving credit line 1,618,375 (422,295)
Payments under related party note payable (133,333)   
Net proceeds from sale of common shares    2,997,875
Purchase of treasury stock (142,262)   
Net cash provided by financing activities 1,342,780 2,575,580
Net increase (decrease) in cash and cash equivalents (2,533,360) 198,420
Cash and cash equivalents at beginning of period 3,274,741 345,105
Cash and cash equivalents at end of period 741,381 543,525
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest $ 80,778 $ 181,300