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 $)
 3 Months Ended
Jul. 31, 2012
Jul. 31, 2011
Cash flows from operating activities:    
Net loss $ (975,717) $ (853,957)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 100,900 178,567
Bad debt expense 3,296 1,412
Stock-based compensation expense 99,451 148,252
Changes in assets and liabilities:    
Decrease (increase) in accounts receivable (413,617) 790,831
Decrease (increase) in inventories (869,249) 128,734
Increase in other current assets (384,933) (35,029)
Decrease (increase) in other assets (26,617) 14,525
Increase (decrease) in accounts payable 154,817 (1,009,820)
Increase (decrease) in accrued liabilities (119,903) 64,341
Net cash used in operating activities (2,431,572) (572,144)
Cash flows from investing activities:    
Acquisition of business    (57,364)
Additions to property and equipment    (205,067)
Software development costs    (632,638)
Issuance of note receivable 375,000   
Net cash used in investing activities (375,000) (895,069)
Cash flows from financing activities:    
Net borrowings (payments) under revolving credit line 830,397 (1,129,072)
Payments under related party note payable (33,333)   
Net proceeds from sale of common shares    2,997,875
Purchase of treasury stock (142,262)   
Net cash provided by financing activities 654,802 1,868,803
Net increase (decrease) in cash and cash equivalents (2,151,770) 401,590
Cash and cash equivalents at beginning of period 3,274,741 345,105
Cash and cash equivalents at end of period 1,122,971 746,695
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 71,114 92,858
Cash paid during the period for income taxes