Description of Business and Significant Accounting Policies - Liquidity and Basis of Presentation (Details Narrative) (USD $)
|
3 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Jul. 31, 2014
|
Jul. 31, 2013
|
Apr. 30, 2014
|
Apr. 30, 2013
|
Apr. 30, 2012
|
|
Debt Instrument [Line Items] | |||||
Net loss | $ (759,767) | $ (881,630) | $ (2,609,000) | $ (4,625,000) | $ (3,259,000) |
Net cash used in operating activities | (166,152) | (582,581) | (1,554,000) | (3,882,000) | (1,218,000) |
Subordinated secured convertible bridge notes | 750,000 | ||||
Warrants issued in connection with the bridge notes, exercise terms | The Warrants are exercisable for five years after the closing date of the Purchase Agreement. For each $1,000 of principal amount of Bridge Notes, the holder received 1,200 Warrants to purchase the Companys common stock. Each holder is entitled to exercise one-third of all warrants received at an exercise price of $3.00, one-third of all warrants received at an exercise price of $3.50, and one-third of all warrants received at an exercise price that is equal to the closing price on the closing date of the Purchase Agreement, $2.94. Pursuant to the terms of the Purchase Agreement, the Company has agreed to register the shares underlying the Bridge Notes and the Warrants. | ||||
Preferred stock contract terms | The Company has come to terms with multiple investors for the sale of 1,000,000 shares of Series A Preferred Stock at $5.00 per share. This transaction is subject to stockholders approval at the Company's Annual Meeting currently scheduled for October 15, 2014. The closing is to take place as soon as practicable therefore with a minimum purchase of 400,000 shares. The balance is callable by the Company on an as needed basis. The Preferred Shares are convertible into Common Stock at the rate of 2.5 shares of common stock for every 1 share of Preferred Stock. There is no assurance that the stockholders will approve this transaction and a closing will take place. | ||||
Institutional Investor
|
|||||
Debt Instrument [Line Items] | |||||
Subordinated secured convertible bridge notes | 600,000 | ||||
Conversion price | $ 2.50 | ||||
Bridge notes, maturity date | Oct. 15, 2014 | ||||
Bridge notes, interest rate | 8.00% | ||||
Management
|
|||||
Debt Instrument [Line Items] | |||||
Subordinated secured convertible bridge notes | $ 150,000 | ||||
Conversion price | $ 2.94 | ||||
Bridge notes, maturity date | Oct. 15, 2014 | ||||
Bridge notes, interest rate | 8.00% |