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CONSOLIDATED BALANCE SHEETS (USD $)
Apr. 30, 2014
Apr. 30, 2013
CURRENT ASSETS:    
Cash and cash equivalents $ 2,177,070 $ 1,410,223
Restricted cash 0 1,869,178
Accounts receivable, net of allowance for doubtful accounts of $1,033,786 and $957,918, respectively 8,614,396 4,139,768
Costs and estimated earnings in excess of billings on uncompleted contracts 431,348 329,141
Deferred contract costs 1,166,734 1,597,894
Prepaid expenses and other current assets 217,235 96,903
Current assets held for sale 4,001,812 5,152,809
Total current assets 16,608,595 14,595,916
PROPERTY AND EQUIPMENT, net 1,780,520 2,526,638
CAPITALIZED SOFTWARE COSTS 3,207,305 0
OTHER ASSETS 52,376 214,259
OTHER ASSETS HELD FOR SALE 372,930 808,153
Total assets 22,021,726 18,144,966
CURRENT LIABILITIES:    
Current portion of loans payable 31,680 23,790
Senior secured convertible notes, net of debt discount of $853,413 and $2,888,889, respectively 44,921 1,111,111
Derivative liability - senior secured convertible notes 0 3,088,756
Accounts payable and accrued expenses 4,956,232 3,036,981
Accrued severance 1,520,205 0
Billings in excess of costs and estimated earnings on uncompleted contracts 1,448,563 1,344,159
Deferred revenue 0 113,503
Due related party 778,573 0
Other payable to Zurich 1,533,757 1,743,986
Short-term bank loan 3,195,000 2,432,205
Income taxes payable 30,855 139,557
Dividend payable 72,034 0
Current liabilities held for sale 1,797,615 2,046,000
Total current liabilities 15,409,435 15,080,048
Loans payable, net of current portion 56,537 66,874
Secured promissory note, related parties 500,000 0
Loans payable, net of current portion, held for sale 88,404 66,964
Derivative liability - warrants 0 3,858,508
Total liabilities 16,054,376 19,072,394
COMMITMENTS AND CONTINGENCIES      
WPCS EQUITY (DEFICIT):    
Preferred stock - 5,000,000 shares authorized, 2,438 shares of Series E Convertible Preferred Stock issued with $1,000 stated value, and liquidation preference of $5,707,000 2,438,000 0
Common stock - $0.0001 par value, 14,285,714 shares authorized, 13,913,164 and 993,538 shares issued and outstanding, respectively 1,391 99
Additional paid-in capital 66,672,106 50,844,183
Accumulated deficit (65,222,355) (54,054,389)
Accumulated other comprehensive income on foreign currency translation 1,232,003 1,433,541
Total WPCS equity (deficit) 5,121,145 (1,776,566)
Noncontrolling interest 846,205 849,138
Total equity (deficit) 5,967,350 (927,428) [1]
Total liabilities and equity $ 22,021,726 $ 18,144,966
[1] Includes 649 additional shares issued due to rounding from reverse stock split.