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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jan. 31, 2013
Apr. 30, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 2,136,045 $ 811,283
Restricted cash 926,389 0
Accounts receivable, net of allowance of $1,635,761 and $1,794,729 at January 31, 2013 and April 30, 2012, respectively 10,903,997 22,343,304
Costs and estimated earnings in excess of billings on uncompleted contracts 1,019,220 1,340,379
Deferred contract costs 1,888,839 1,816,116
Inventory 0 1,475,266
Prepaid expenses and other current assets 481,262 326,075
Prepaid income taxes 48,280 137,279
Deferred tax assets 527,268 307,550
Total current assets 17,931,300 28,557,252
PROPERTY AND EQUIPMENT, net 3,411,853 4,309,450
OTHER INTANGIBLE ASSETS, net 285,073 382,852
GOODWILL 1,946,501 1,930,826
DEFERRED TAX ASSETS 258,537 243,999
OTHER ASSETS 271,800 371,020
Total assets 24,105,064 35,795,399
CURRENT LIABILITIES:    
Current portion of loans payable 37,655 143,514
Borrowings under line of credit 0 4,964,140
Senior secured convertible notes, net of debt discount 444,444 0
Derivative liability - senior secured convertible note 3,001,306 0
Current portion of capital lease obligations 0 15,465
Accounts payable and accrued expenses 4,824,341 16,669,621
Billings in excess of costs and estimated earnings on uncompleted contracts 1,687,438 3,594,193
Deferred revenue 762,442 790,270
Due joint venture partner 959,864 3,314,708
Other payable 2,287,621 0
Short-term bank loan 2,410,755 0
Income taxes payable 168,598 194,963
Total current liabilities 16,584,464 29,686,874
Loans payable, net of current portion 95,207 223,561
Derivative liability - warrants 1,945,284 0
Total liabilities 18,624,955 29,910,435
COMMITMENTS AND CONTINGENCIES      
WPCS EQUITY:    
Preferred stock - $0.0001 par value, 5,000,000 shares authorized, none issued 0 0
Common stock - $0.0001 par value, 25,000,000 shares authorized, 6,954,766 shares issued and outstanding at January 31, 2013 and April 30, 2012 695 695
Additional paid-in capital 50,834,577 50,477,543
Accumulated deficit (47,867,645) (47,143,662)
Accumulated other comprehensive income on foreign currency translation 1,468,686 1,433,066
Total WPCS equity 4,436,313 4,767,642
Noncontrolling interest 1,043,796 1,117,322
Total equity 5,480,109 5,884,964
Total liabilities and equity $ 24,105,064 $ 35,795,399