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 $)
 3 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Cash flows from operating activities:    
Net loss $ (881,630) $ (975,717)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 91,900 100,900
Bad debt expense 275,110 3,296
Stock-based compensation expense 20,943 99,451
Changes in assets and liabilities:    
Increase in accounts receivable (325,089) (413,617)
Decrease (increase) in inventories 180,891 (869,249)
Increase in other current assets (60,040) (384,933)
Increase in other assets    (26,617)
Increase in accounts payable 251,047 154,817
Decrease in accrued liabilities (135,713) (119,903)
Net cash used in operating activities (582,581) (2,431,572)
Cash flows from investing activities:    
Issuance of note receivable    (375,000)
Net cash used in investing activities    (375,000)
Cash flows from financing activities:    
Net borrowings under revolving credit line 466,172 830,397
Payments under related party note payable (100,000) (33,333)
Purchase of treasury stock    (142,262)
Net cash provided by financing activities 366,172 654,802
Net decrease in cash and cash equivalents (216,409) (2,151,770)
Cash and cash equivalents at beginning of period 324,235 3,274,741
Cash and cash equivalents at end of period 107,826 1,122,971
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 88,974 71,114
Cash paid during the period for income taxes