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 $)
 9 Months Ended
Jan. 31, 2014
Jan. 31, 2013
Cash flows from operating activities:    
Net loss $ (2,066,608) $ (3,005,137)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on sale of property and equipment 120,916   
Depreciation and amortization 266,400 327,700
Bad debt expense 174,859 57,888
Stock-based compensation expense 43,399 205,033
Changes in assets and liabilities:    
Decrease in accounts receivable 326,122 238,838
Decrease in inventories 630,853 19,435
Decrease (increase) in other current assets 15,452 (46)
Decrease (increase) in other assets 6,532 (1,086)
Increase (decrease) in accounts payable 149,822 (386,516)
Decrease in accrued liabilities (11,551) (122,802)
Net cash used in operating activities (585,636) (2,666,693)
Cash flows from investing activities:    
Acquisition of business    (68,521)
Additions to property and equipment    (5,950)
Proceeds from sale of property and equipment 500,000   
Issuance of note receivable    (750,000)
Net cash provided by (used in) investing activities 500,000 (824,471)
Cash flows from financing activities:    
Net proceeds (payments) under revolving credit line (133,757) 1,351,364
Net payments of note payable to related party (800,000) (233,333)
Net proceeds from sale of common shares 695,491   
Purchase of treasury stock    (142,262)
Net cash provided by (used in) financing activities (238,266) 975,769
Net increase (decrease) in cash and cash equivalents (323,902) (2,515,395)
Cash and cash equivalents at beginning of period 324,235 3,274,741
Cash and cash equivalents at end of period 333 759,346
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest $ 256,665 $ 146,824