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SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Apr. 30, 2014

Shareholders' Equity

Share Based Compensation Arrangements By Share Based Payment Award Options Outstanding And Exercisable

The following is a summary of information with respect to stock options granted under the 2002 Plan, 2006 Incentive Stock Plan, and 2007 Incentive Stock Plan at April 30, 2014 and 2013:

		Options Outstanding at April 30, 2014						Options Exercisable at April 30, 2014
Exercise prices		Shares under option		Weighted-average  remaining life in years		Weighted-average Exercise Price		Shares under  option		Weighted-average Exercise Price
2.52 - 5.88		74,000		3.44		4.06		74,000		4.06
16.59 - 39.90		5,207		0.56		21.91		5,207		21.91
Total		79,207		3.25		5.23		79,207		5.23

		Options Outstanding at April 30, 2013						Options Exercisable at April 30, 2013
Exercise prices		Shares under option		Weighted-average  remaining life in years		Weighted-average  Exercise Price		Shares under  option		Weighted-average  Exercise Price
2.52 - 5.88		97,143		4.43		4.09		88,571		4.13
16.59 - 39.90		19,136		1.07		19.94		18,945		19.93
Total		116,279		3.88		6.70		107,516		6.92

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity for the year ended April 30, 2014, during which there were no options exercised under the Company’s stock option plans:

		2002 Plan
		Number of  Shares		Weighted- average  Exercise  Price			Weighted- average  Remaining  Contractual  Term		Aggregate  Intrinsic  Value
Outstanding, May 1, 2013		15,779		$	7.56
Granted		-			0.00
Exercised		-			0.00
Forfeited/Expired		(3,143)			11.60
Outstanding, April 30, 2014		12,636		$	6.58		3.0		$	0
Vested and expected to vest, April 30, 2014		12,636		$	6.58		3.0		$	0

		2006 Plan
		Number of  Shares		Weighted- average  Exercise Price			Weighted- average  Remaining  Contractual  Term		Aggregate  Intrinsic  Value
Outstanding, May 1, 2013		46,571		$	4.19
Granted		340			3.55
Exercised		-			0.00
Forfeited/Expired		(21,769)			4.25
Outstanding, April 30, 2014		25,142		$	4.19		3.4		$	0
Vested and expected to vest, April 30, 2014		25,142		$	4.19		3.4		$	0

		2007 Plan
		Number of  Shares		Weighted- average  Exercise  Price			Weighted- average  Remaining  Contractual  Term		Aggregate  Intrinsic  Value
Outstanding, May 1, 2013		53,929		$	8.60
Granted		1,420			3.55
Exercised		-			0.00
Forfeited/Expired		(13,920)			19.15
Outstanding, April 30, 2014		41,429		$	5.45		3.2		$	0
Vested and expected to vest, April 30, 2014		41,429		$	5.45		3.2		$	0

Fair Value Of Stock Options Granted

The following assumptions were used to compute the fair value of stock options granted during the year ended April 30, 2014:

		Year Ended
		April 30,
		2014				2013
Average risk-free interest rate			0.87	%			0.38	%
Average expected volatility			68.6	%			53.3	%
Average expected dividend yield			0.00	%			0.00	%
Average expected term ( in years)			3				2.75

Schedule Of Common Stock Warrant Activity

The following is a summary of the common stock warrant activity for the year ended April 30, 2014:

						Weighted				Weighted
						Average				Average
		Number of				Exercise				Remaining
		Warrants				Price				Life in years
Outstanding, May 1, 2012			-				-				-
Warrants issued in connection with Notes			2,274,796			$	2.1539				5.00
Outstanding, April 30, 2013			2,274,796				2.1539				4.50
Warrants exchanged in connection with the Amendment			(154,961	)			2.1539				-
Exchange Warrants issued in connection with the Amendment			154,961				2.1539				3.60
BTX Warrants issued in connection with the BTX Purchase Agreement			1,500,000				5.0000				4.00
Outstanding as of April 30, 2014			3,774,796			$	3.2849				4.01

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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