DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Apr. 30, 2014

A summary of the operating results for the discontinued operations is as follows:

	Years Ended April 30,
	2014		2013

REVENUE	$	16,698,767	$	22,455,300

COSTS AND EXPENSES:
Cost of revenue		11,889,953		16,480,328
Selling, general and administrative expenses		3,987,799		6,279,297
Depreciation and amortization		450,476		517,470
Goodwill impairment		-		1,936,059
		16,328,228		25,213,154

OPERATING INCOME (LOSS) FROM DISCONTINUED OPERATIONS		370,539		(2,757,854)

Interest expense (income)		5,885		(16,243)

Income (loss) from discontinued operations before income tax provision		364,654		(2,741,611)

Income tax provision		330,764		546,321

Income (loss) from discontinued operations, net of tax		33,890		(3,287,932)

(loss) gain from disposal		(104,446)		1,756,586

TOTAL LOSS FROM DISCONTINUED OPERATIONS	$	(70,556)	$	(1,531,346)

The following table summarizes the assets and liabilities held for sale:

	April 30, 2014		April 30, 2013
ASSETS

CURRENT ASSETS:

Accounts receivable, net of allowance	$	3,351,881	$	4,223,321
Costs and estimated earnings in excess of billings on uncompleted contracts		616,858		819,714
Prepaid expenses and other current assets		33,073		109,774
Total current assets held for sale		4,001,812		5,152,809

PROPERTY AND EQUIPMENT, net		342,884		526,817

OTHER INTANGIBLE ASSETS, net		-		250,632

OTHER ASSETS		30,046		30,704
Total other assets held for sale		372,930		808,153

Total assets held for sale	$	4,374,742	$	5,960,962


LIABILITIES
Current portion of loans payable	$	26,921	$	20,152
Accounts payable and accrued expenses		1,425,586		1,727,506
Billings in excess of costs and estimated earnings on uncompleted contracts		345,108		298,342
Total current liabilities held for sale		1,797,615		2,046,000

Loans payable, net of current portion		88,404		66,964
Total liabilities	$	1,886,019	$	2,112,964