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Share-Based Payments (Tables)
6 Months Ended
Oct. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
Stock-based compensation expense was recognized as follows (in thousands):
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
October 31,
 
October 31,
 
 
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General and administrative
 
$
513
 
$
401
 
$
1,055
 
$
820
 
Sales and marketing
 
 
179
 
 
63
 
 
333
 
 
126
 
Research and development
 
 
98
 
 
3
 
 
203
 
 
16
 
TOS cost of sales
 
 
16
 
 
3
 
 
18
 
 
11
 
POS cost of sales
 
 
14
 
 
6
 
 
18
 
 
55
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total stock-based compensation expense
 
$
820
 
$
476
 
$
1,627
 
$
1,028
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
Black-Scholes assumptions used to calculate the fair value of options granted during the three and six months ended October 31, 2014 and 2013 were as follows (in thousands):
  
 
 
Three Months Ended
 
Six Months Ended
 
 
 
October 31,
 
October 31,
 
 
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
Expected term in years
 
5.0 - 6.0
 
6.0
 
3.0 - 6.0
 
6.0
 
Risk-free interest rates
 
1.53% - 1.94%
 
1.13% - 2.41%
 
0.79% - 1.94%
 
1.13% - 2.41%
 
Volatility
 
85.8% - 102.1%
 
97.9% - 101.4%
 
85.8% - 102.1%
 
97.9% - 101.4%
 
Dividend yield
 
0%
 
0%
 
0%
 
0%
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The Company’s stock options activity for the six months ended October 31, 2014 is as follows:
 
 
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
 
 
 
Weighted
 
Average
 
 
 
 
 
 
 
 
Directors
 
 
 
Average
 
Remaining
 
Aggregate
 
 
 
Non-
 
and
 
 
 
Exercise
 
Contractual
 
Intrinsic
 
 
 
Employees
 
Employees
 
Total
 
Price
 
Life (Years)
 
Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, May 1, 2014
 
765,000
 
22,586,037
 
23,351,037
 
$
1.01
 
7.5
 
$
985
 
Granted
 
80,000
 
1,013,175
 
1,093,175
 
 
0.72
 
6.1
 
 
74
 
Exercised
 
-
 
(3,750)
 
(3,750)
 
 
0.49
 
 
 
 
 
 
Forfeited
 
-
 
(11,250)
 
(11,250)
 
 
0.49
 
 
 
 
 
 
Expired
 
(150,000)
 
(22,500)
 
(172,500)
 
 
1.12
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, October 31, 2014
 
695,000
 
23,561,712
 
24,256,712
 
 
1.00
 
7.0
 
 
334
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested and expected to
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
vest as of October 31, 2014
 
695,000
 
23,561,712
 
24,256,712
 
 
1.00
 
7.0
 
 
334
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable as of
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
October 31, 2014
 
487,500
 
15,366,589
 
15,854,089
 
 
0.90
 
6.1
 
 
269
 
Schedule Of Share Based Compensation Warrants Activity [Table Text Block]
Activity related to these warrants, which expire at various dates through April 2016, is summarized as follows (dollars in thousands):
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
Weighted
 
Average
 
 
 
Number
 
Average
 
Remaining
 
 
 
of
 
Exercise
 
Contractual
 
 
 
Shares
 
Price
 
Life (Years)
 
 
 
 
 
 
 
 
 
 
Outstanding, May 1, 2014
 
3,276,667
 
$
0.61
 
2.9
 
Granted
 
-
 
 
-
 
-
 
Exercised
 
-
 
 
-
 
-
 
Expired
 
(150,000)
 
 
-
 
-
 
 
 
 
 
 
 
 
 
 
Outstanding, October 31, 2014
 
3,126,667
 
$
0.60
 
2.5
 
Schedule Of Share Based Payment Award Stock Warrants Valuation Assumptions [Table Text Block]
Assumptions used to calculate the fair value of these warrants were as follows:
 
 
 
October 31,
 
April 30,
 
 
 
2014
 
2014
 
 
 
 
 
 
 
Expected term in years
 
1.4 - 3.2
 
1.9 - 3.7
 
Risk-free interest rates
 
0.4% - 1.05%
 
0.4% - 1.17%
 
Volatility
 
74% - 97%
 
95% - 113%
 
Dividend yield
 
0%
 
0%