Related Party Transactions (Details Narrative) (USD $)
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3 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | ||||
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Jul. 31, 2013
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Jul. 31, 2012
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Jul. 31, 2013
Sheerr Memory
integer
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Jul. 31, 2012
Sheerr Memory
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Jul. 31, 2013
Sheerr Memory
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Jul. 31, 2012
Sheerr Memory
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Dec. 14, 2011
Note and Security Agreement
Mr. Sheerr
integer
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Jul. 31, 2013
Note and Security Agreement
Mr. Sheerr
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Related Party Transactions (Textual) [Abstract] | ||||||||
Purchase of inventories for resale | $ 584,000 | $ 1,225,000 | ||||||
Accounts payable | 597,000 | 438,000 | 438,000 | |||||
Interest paid | 88,974 | 71,114 | ||||||
Creditor trade cycle term | 30 days | |||||||
Maximum secured financing under agreement | 2,000,000 | 2,000,000 | ||||||
Interest rate | 0.00% | 10.00% | ||||||
Frequency of periodic payment | Monthly | |||||||
Number of installments | 60 | 60 | ||||||
Date of first required payment, principal amount | Jul. 15, 2012 | |||||||
Amount borrowed on closing of agreement | 1,500,000 | 1,500,000 | ||||||
Repayment of Note | 100,000 | 33,333 | 1,500,000 | |||||
Amount borrowed under agreement | 2,000,000 | 2,000,000 | ||||||
Principal amount due per month | 33,333 | |||||||
Principal amount due for the fiscal year ending April 30, 2013 | 333,333 | 333,333 | ||||||
Principal amounts due in each of four fiscal periods from May 1, 2013 thru April 30, 2017 | 400,000 | 400,000 | ||||||
Principal amount due in the fiscal period from May 1, 2017 thru June 30, 2017 | 66,667 | 66,667 | ||||||
Interest expense | 50,824 | 40,889 | ||||||
Interest payable | $ 16,935 | $ 13,490 |
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- Details
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Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Date the debt agreement requires the first payment to be made, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Description of the frequency of periodic payments (monthly, quarterly, annual). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of the required periodic payments applied to principal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of interest expense incurred on a debt or other obligation to related party. No definition available.
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The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of interest payable on debt, including, but not limited to, trade payables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Purchases during the period (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. No definition available.
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The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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