Annual report pursuant to Section 13 and 15(d)

BASIS OF PRESENTATION AND LIQUIDITY (Tables)

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BASIS OF PRESENTATION AND LIQUIDITY (Tables)
12 Months Ended
Apr. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule Of Inducement Expenses
A summary table of the inducement expense (difference between the fair value of the preferred stock and the carrying amount of the senior secured convertible note and make-whole amount prior to the conversion) for the year ended April 30, 2015, is as follows:
 
 
 
April 30, 2015
 
Fair value of series F and F-1 preferred stock (16,443 shares at $301.81)
 
$
4,963,000
 
Fair value of series G and G-1 preferred stock (5,530 shares at $350.43)
 
 
1,938,000
 
Total consideration
 
 
6,901,000
 
Less: senior secured convertible note
 
 
(459,000)
 
Less: make-whole amount on senior secured convertible note
 
 
(949,000)
 
Total inducement expenses
 
$
5,493,000