CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Oct. 31, 2015 |
Oct. 31, 2014 |
Oct. 31, 2015 |
Oct. 31, 2014 |
|
| Revenue | $ 3,824,241 | $ 6,089,672 | $ 8,288,244 | $ 12,154,129 |
| Costs and expenses: | ||||
| Cost of revenue | 3,294,565 | 5,112,525 | 6,741,768 | 9,892,944 |
| Selling, general and administrative expenses | 2,555,206 | 1,318,408 | 3,868,009 | 2,363,418 |
| Depreciation and amortization | 14,493 | 15,641 | 29,462 | 31,824 |
| Costs and expenses | 5,864,264 | 6,446,574 | 10,639,239 | 12,288,186 |
| Operating loss | (2,040,023) | (356,902) | (2,350,995) | (134,057) |
| Other income (expense): | ||||
| Interest expense | (606) | (1,990) | (1,498) | (2,837,472) |
| Inducement expense | 0 | (1,870,498) | 0 | (1,870,498) |
| Income from section 16 settlement | 0 | 350,000 | 400,000 | 350,000 |
| Other expenses | 0 | (942) | (2,906) | (8,442) |
| Loss from continuing operations before income tax provision | (2,040,629) | (1,880,332) | (1,955,399) | (4,500,469) |
| Income tax provision | 0 | 1,825 | 1,099 | 29,188 |
| Loss from continuing operations | (2,040,629) | (1,882,157) | (1,956,498) | (4,529,657) |
| Discontinued operations: | ||||
| (Loss) income from discontinued operations | 0 | (1,887,384) | 41,261 | (2,325,498) |
| Gain from disposal | 837,720 | 0 | 837,720 | 798,896 |
| Income (loss) from discontinued operations, net of tax | 837,720 | (1,887,384) | 878,981 | (1,526,602) |
| Consolidated net loss | (1,202,909) | (3,769,541) | (1,077,517) | (6,056,259) |
| Net (loss) income attributable to noncontrolling interest | 0 | (53,115) | 16,505 | (102,135) |
| Net loss attributable to WPCS | (1,202,909) | (3,716,426) | (1,094,022) | (5,954,124) |
| Dividends declared on preferred stock | (782,837) | (116,212) | (4,369,958) | (190,699) |
| Deemed dividend on convertible preferred stock, due to beneficial conversion feature | 0 | 0 | (703,770) | 0 |
| Net loss attributable to WPCS common shareholders | $ (1,985,746) | $ (3,832,638) | $ (6,167,750) | $ (6,144,823) |
| Basic and diluted net loss attributable to WPCS common shareholders: | ||||
| Loss from continuing operations | $ (1.17) | $ (3.16) | $ (3.62) | $ (7.46) |
| (Loss) income from discontinued operations | 0 | (2.90) | 0.01 | (3.52) |
| Gain from disposal | 0.35 | 0 | 0.43 | 1.26 |
| Basic and diluted net income (loss) from discontinued operations | 0.35 | (2.91) | 0.44 | (2.26) |
| Basic and diluted net loss per common share attributable to WPCS | $ (0.82) | $ (6.06) | $ (3.17) | $ (9.72) |
| Basic and diluted weighted average number of common shares outstanding | 2,415,113 | 632,417 | 1,942,681 | 632,417 |
| X | ||||||||||
- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of gain (loss) not previously recognized resulting from the disposal of a discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per basic and diluted share amount, after tax, of the gain (loss) on the disposal of discontinued operations, when the per share amount is the same. No definition available.
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- Definition Amount after tax of income (loss) from operations classified as a discontinued operation. Excludes gain (loss) on disposal and provision for gain (loss) until disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per basic and diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation, when the per share amount is the same. No definition available.
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- References No definition available.
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- Definition Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- References No definition available.
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- Definition Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares. No definition available.
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- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per basic and diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation, when the per share amount is the same. No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition This element represents a sum total of expenses not separately reflected on the income statement for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Other preferred stock dividends and adjustments, not otherwise defined in the taxonomy, that are necessary to adjust net income to obtain net income applicable to common stockholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The excess of (1) the fair value of all securities and other consideration transferred in transactions by the registrant to the holders of the convertible preferred stock over (2) the fair value of securities issuable pursuant to the original conversion terms, during the accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is settled prior to maturity. No definition available.
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