Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 3 Months Ended
Jul. 31, 2014
Jul. 31, 2013
Cash flows from operating activities:    
Net loss $ (759,767) $ (881,630)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26,999 91,900
Bad debt expense 10,397 275,110
Amortization of debt discount 133,333   
Stock-based compensation expense 4,716 20,943
Changes in assets and liabilities:    
Decrease in accounts receivable 337,619 (325,089)
Decrease in inventories 270,286 180,891
Decrease (increase) in other current assets (119,908) (60,040)
Decrease (increase) in other assets (1,050)   
Increase (decrease) in accounts payable 39,821 251,047
Decrease in accrued liabilities (108,598) (135,713)
Net cash used in operating activities (166,152) (582,581)
Cash flows from investing activities:    
Software development costs (142,191)   
Net cash provided by (used in) investing activities (142,191)   
Cash flows from financing activities:    
Net proceeds (payments) under revolving credit line (546,127) 466,172
Net payments of note payable to related party    (100,000)
Principal payments under capital lease obligation (17,915)   
Proceeds from issuance of convertible notes and warrants 750,000   
Net cash provided by (used in) financing activities 185,958 366,172
Net increase (decrease) in cash and cash equivalents (122,385) (216,409)
Cash and cash equivalents at beginning of period 257,633 324,235
Cash and cash equivalents at end of period 135,248 107,826
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 60,354 88,974
Cash paid during the period for income taxes 2,850   
Supplemental disclosures of non cash flow information:    
Debt discount on convertible notes payable $ 750,000