Quarterly report pursuant to Section 13 or 15(d)

Description of Business and Significant Accounting Policies (Tables)

Description of Business and Significant Accounting Policies (Tables)

3 Months Ended

Jul. 31, 2013

Accounting Policies [Abstract]

Reconciliation of the numerator and denominator used in computing basic and diluted net loss per share

		Three Months ended July 31, 2013
		Loss				Shares				Per share
		(numerator)				(denominator)				amount

Basic net loss per share – net loss and weighted average common shares outstanding		$	(881,630	)			1,754,662			$	(.50	)

Effect of dilutive securities – stock options			—				—				—
Effect of dilutive securities – warrants			—				—				—

Diluted net loss per share – net loss, weighted average common shares outstanding and effect of stock options and warrants		$	(881,630	)			1,754,662			$	(.50	)

		Three Months ended July 31, 2012
		Loss				Shares				Per share
		(numerator)				(denominator)				amount

Basic net loss per share – net loss and weighted average common shares outstanding		$	(975,717	)			1,783,884			$	(.55	)

Effect of dilutive securities – stock options			—				—				—
Effect of dilutive securities – warrants			—				—				—

Diluted net loss per share – net loss, weighted average common shares outstanding and effect of stock options and warrants		$	(975,717	)			1,783,884			$	(.55	)

Summary of option activity

		Shares		Weighted average exercise price		Weighted average remaining contractual life (1)		Aggregate intrinsic value (2)

Balance April 30, 2013		311,575		$12.40		4.77		$ 15,750

Granted		0		–		–		–
Exercised		0		–		–		–
Expired		0		–		–		–
Balance July 31, 2013		311,575		$12.40		4.77		$ 15,750
Exercisable July 31, 2013		275,658		$13.53		4.39		–
Expected to vest July 31, 2013		296,000		$12.40		4.77		–