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Related Party Transactions:
 9 Months Ended
Jan. 31, 2012
Related Party Transactions [Abstract]  
Related Party Transactions:
Note 7-Related Party Transactions:
 
Investment Management (overview):
 
As discussed previously in Note 1 - Organization and Summary of Significant Accounting Policies, prior to December 23, 2010, the Company’s former direct subsidiary EAM LLC was the investment adviser and manager for the Value Line Funds, and EAM LLC’s subsidiary ESI was the distributor for the Funds. EAM LLC earned investment management fees based upon the average daily net asset values of the respective Value Line Funds. Service and distribution fees were received by ESI from the Value Line Funds in accordance with service and distribution plans under rule 12b-1 of the Investment Company Act of 1940. These plans are compensation plans, which means that the distributor’s fees under the plans are payable without regard to actual expenses incurred by the distributor, and therefore, the distributor may earn a profit under the plans. Expenses incurred by ESI included payments to securities dealers, banks, financial institutions and other organizations which provided distribution, marketing, and administrative services (including payments by ESI to VLI for allocated compensation and administration expenses) with respect to the distribution of the Funds’ shares. Service and distribution fees were received on a monthly basis and calculated based upon the average daily net assets of the respective Funds in accordance with each Fund’s prospectus.
 
As of the Restructuring Date, the Company deconsolidated its asset management and mutual fund distribution businesses and its interest in these businesses was restructured as a non-voting revenues and non-voting profits interests in EAM. Accordingly, the Company no longer reports this operation as a separate business segment, although it still maintains a significant interest in the cash flows generated by this business. Total assets in the Value Line Funds managed by EAM at January 31, 2012 were $2.1 billion, 4% below total assets of $2.2 billion in the Value Line Funds managed by EAM at January 31, 2011. Overall assets in the Value Line Funds at January 31, 2012 decreased $169 million, or 8% since April 30, 2011, as a result of market depreciation and net redemptions primarily within the equity, money market and variable annuity funds.
 
During the period from May 1, 2010 through December 23, 2010, investment management fees and distribution service fees (which were discontinued as of December 23, 2010) amounted to $10,584,000 including 12b-1 fees of $2,308,000, after giving effect to account fee waivers for certain of the Value Line Funds. For the same period total investment management fee waivers were $513,000 and total 12b-1 fee waivers were $1,651,000. With limited exceptions, the Company, EAM LLC and ESI had no right to recoup the previously waived amounts of investment management fees and 12b-1 fees. Any such recoupment of waived investment management fees is subject to the provisions of the applicable Value Line Mutual Funds’ prospectus. During the period from May 1, 2010 through December 1, 2010, separately managed accounts revenues were $109,000. Separately managed accounts had $24 million in assets at December 1, 2010. Of the $24 million, $20 million was affiliated with AB&Co. During the third quarter of fiscal 2011, the affiliated entities cancelled their separately managed account agreements with EAM LLC.
 
The non-voting revenues and 90% of the Company’s non-voting profits interests due from EAM to the Company are payable each calendar quarter under the provisions of the EAM Trust Agreement. The distributable amounts earned through the balance sheet date, which is included in the Investment in EAM Trust on the Consolidated Condensed Balance Sheets, and not yet paid, were $489,000 and $545,000 at January 31, 2012 and April 30, 2011, respectively.
 
EAM Trust - VLI’s non-voting revenues and profits interests:
 
Following the Restructuring Transaction, the Company no longer engages, through subsidiaries or otherwise, in the investment management or mutual fund distribution businesses. The Company does hold non-voting revenues and non-voting profits interests in EAM which entitle the Company to receive from EAM an amount ranging from 41% to 55% of EAM’s investment management fee revenues from its mutual fund and separate accounts business. EAM currently has no separately managed account clients. During the three and nine months ended January 31, 2012, the Company recorded non-voting revenues and non-voting profits of $1,456,000 and $4,371,000, respectively, consisting of $1,429,000 and $4,251,000, respectively, from its non-voting revenues interest in EAM and $27,000 and $120,000, respectively, from its non-voting profits interest in EAM without incurring any directly related expenses. From December 23, 2010 through January 31, 2011, after the completion of the Restructuring Transaction, the Company recorded non-voting revenues and non-voting profits of $724,000, consisting of $665,000 from its non-voting revenues interest and $59,000 from its non-voting profits interest in EAM. During the period from December 23, 2010 until May 28, 2011, EAM and ES occupied a portion of the premises that the Company leases from a third party. During the fourth quarter of fiscal 2011, EAM provided notice that it was vacating the Company’s leased premises. The Company received $44,000 for the month of May 2011 for rent and certain accounting and other administrative support services provided to EAM and ES on a transitional basis during such period.
 
Transactions with Parent:
 
During the nine months ended January 31, 2012 and 2011, the Company was reimbursed $167,000 and $275,000, respectively, for payments it made on behalf of and for services the Company provided to the Parent. At April 30, 2011, the Receivables from affiliates consisted of a receivables due from the Parent of $38,000. There was no receivable due from the Parent at January 31, 2012.
 
From time to time, the Parent has purchased additional shares of common stock of the Company in the market when and as the Parent has determined it to be appropriate. The Parent may make additional purchases of common stock of the Company from time to time in the future. At January 31, 2012, the Parent owns 87.24% of the issued and outstanding shares of common stock of the Company.