Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY (Tables)

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SHAREHOLDERS' EQUITY (Tables)
12 Months Ended
Apr. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes stock option activities for the years ended April 30, 2015 and 2014:
  
 
 
Number of Shares
 
Weighted Average
Exercise Price
 
Total Intrinsic Value
 
Weighted
Average
Remaining
Contractual Life
(in years)
 
Outstanding as of April 30, 2013
 
 
5,090
 
$
147.40
 
$
-
 
 
3.88
 
Employee options granted
 
 
80
 
 
78.10
 
 
-
 
 
-
 
Forfeited/expired
 
 
(3,253)
 
 
25.13
 
 
-
 
 
-
 
Outstanding as of April 30, 2014
 
 
1,917
 
 
14.76
 
 
-
 
 
3.34
 
Employee options granted
 
 
46,363
 
 
20.06
 
 
-
 
 
5.10
 
Forfeited/expired
 
 
(7,592)
 
 
25.52
 
 
-
 
 
-
 
Outstanding as of April 30, 2015
 
 
40,688
 
$
18.79
 
$
-
 
 
5.88
 
Options vested and exercisable
 
 
27,052
 
$
25.82
 
$
-
 
 
3.92
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following assumptions were used to compute the fair value of stock options granted during the years ended April 30, 2015 and 2014:
 
 
 
Years Ended
 
 
 
April 30,
 
 
 
2015
 
 
2014
 
Exercise price
 
 
$4.84 - $26.40
 
 
$
78.10
 
Expected stock price volatility
 
 
103.0% - 131.5
%
 
 
68.6
%
Risk-free rate of interest
 
 
1.1% - 1.3
%
 
 
0.90
%
Expected term (years)
 
 
5.0
 
 
 
5.0
 
Schedule Of Common Stock Warrant Activity
The following is a summary of the common stock warrant activity for the years ended April 30, 2015 and 2014:
 
 
 
 
 
 
Weighted
 
Weighted
 
 
 
 
 
 
Average
 
Average
 
 
 
Number of
 
Exercise
 
Remaining
 
 
 
Warrants
 
Price
 
Life in years
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, April 30, 2013
 
 
103,400
 
$
47.39
 
 
4.5
 
BTX Warrants issued in connection with the BTX Purchase Agreement
 
 
68,182
 
 
110.00
 
 
4.0
 
Outstanding as of April 30, 2014
 
 
171,582
 
 
72.27
 
 
4.0
 
Warrants exchanged in connection with the Amendment
 
 
(156,072)
 
 
47.39
 
 
-
 
Outstanding, April 30, 2015
 
 
15,510
 
 
322.64
 
 
4.01