Securities Purchase Agreement (Details Narrative) (USD $)
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6 Months Ended | |
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Oct. 31, 2012
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Oct. 31, 2011
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Securities Purchase Agreement of May 11, 2011 (Textual) [Abstract] | ||
Net proceeds from sale of common stock and warrants | $ 2,997,875 | |
Securities Purchase Agreement 2011-05-11
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Securities Purchase Agreement of May 11, 2011 (Textual) [Abstract] | ||
Numer of common stock sold | 1,775,000 | |
Number of common stock called by warrants | 1,331,250 | |
Net proceeds from sale of common stock and warrants | $ 2,998,000 | |
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. | |
Purchase price per fixed combination | 1.88 | |
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. | |
Exercise price of warrants | 2.26 | |
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 $.001 per share in the event that the volume weighted average price of the Company's common stock for 20 consecutive trading days exceeds $4.52. |
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The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Number of shares issued as consideration for cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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