Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v2.4.0.8
DISCONTINUED OPERATIONS (Tables)
6 Months Ended
Oct. 31, 2013
Discontinued Operations  
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement
A summary of the operating results for the discontinued operations is as follows:
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
October 31,
 
October 31,
 
 
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
REVENUE
 
$
1,550,626
 
$
1,983,918
 
$
3,431,331
 
$
9,041,819
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COSTS AND EXPENSES:
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of revenue
 
 
1,078,044
 
 
1,310,880
 
 
2,482,879
 
 
6,958,473
 
Selling, general and administrative expenses
 
 
435,920
 
 
875,813
 
 
897,157
 
 
3,082,787
 
Depreciation and amortization
 
 
46,994
 
 
51,887
 
 
95,426
 
 
211,244
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,560,958
 
 
2,238,580
 
 
3,475,462
 
 
10,252,504
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPERATING LOSS FROM DISCONTINUED OPERATIONS
 
 
(10,332)
 
 
(254,662)
 
 
(44,131)
 
 
(1,210,685)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
(1,614)
 
 
3,366
 
 
(4,384)
 
 
3,593
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss from discontinued operations before income tax provision
 
 
(8,718)
 
 
(258,028)
 
 
(39,747)
 
 
(1,214,278)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income tax provision
 
 
-
 
 
215,700
 
 
-
 
 
269,864
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss from discontinued operations, net of tax
 
 
(8,718)
 
 
(473,728)
 
 
(39,747)
 
 
(1,484,142)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) gain from disposal
 
 
-
 
 
(485,212)
 
 
-
 
 
1,839,419
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL (LOSS) INCOME FROM DISCONTINUED OPERATIONS
 
$
(8,718)
 
$
(958,940)
 
$
(39,747)
 
$
355,277
 
Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet
The following table summarizes the assets and liabilities held for sale:
 
ASSETS
 
October 31, 2013
 
April 30, 2013
 
 
 
 
 
 
 
 
 
CURRENT ASSETS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
257,166
 
 
494,471
 
Accounts receivable, net of allowance
 
 
1,292,564
 
 
1,277,120
 
Costs and estimated earnings in excess of billings on uncompleted contracts
 
 
189,678
 
 
69,488
 
Prepaid expenses and other current assets
 
 
103,945
 
 
64,370
 
Total current assets held for sale
 
 
1,843,353
 
 
1,905,449
 
 
 
 
 
 
 
 
 
PROPERTY AND EQUIPMENT, net
 
 
205,970
 
 
298,721
 
 
 
 
 
 
 
 
 
OTHER INTANGIBLE ASSETS, net
 
 
183,411
 
 
234,404
 
 
 
 
 
 
 
 
 
OTHER ASSETS
 
 
16,161
 
 
17,704
 
Total other assets held for sale
 
 
405,542
 
 
550,829
 
 
 
 
 
 
 
 
 
Total assets held for sale
 
$
2,248,895
 
$
2,456,278
 
 
 
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
 
 
Accounts payable and accrued expenses
 
$
668,319
 
 
662,437
 
Billings in excess of costs and estimated earnings on uncompleted contracts
 
 
32,111
 
 
23,194
 
Total liabilities held for sale
 
$
700,430
 
$
685,631