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Related Party Transactions
 9 Months Ended
Jan. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

Note 6. Related Party Transactions

 

Related party transactions include transactions between the Company and its shareholders, management, and affiliates. The transactions discussed in this footnote were in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the parties.

 

Consulting Services

 

During the nine months ended January 31, 2013 and 2012, the Company paid one of its former directors and former Chief Executive Officer, $30,000 and $18,000, respectively, in consulting fees. During the nine months ended January 31, 2013 and 2012, the Company paid certain members of its Board of Directors $122,500 and $103,000, respectively, for consulting services unrelated to their duties as board members. During the nine months ended January 31, 2013, the Company paid a substantial stockholder and former member of its Board of Directors $3,000 for consulting services. No such payment was made during the nine months ended January 31, 2012. During the nine months ended January 31, 2013, the Company paid a prospective board member’s company $8,300 for consulting services. No such payment was made during the nine months January 31, 2012. All of the amounts paid to these related parties have been expensed.

  

Revenue

 

During the nine months ended January 31, 2013, the Company earned no revenues through related party transactions. During the nine months ended January 31, 2012, the Company recognized $20,000 in revenues from a company whose board members were also members of the Company’s Board of Directors.