FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Apr. 30, 2013

Fair Value, Liabilities Measured on Recurring Basis

The following table summarizes the financial liabilities measured at fair value on a recurring basis as of April 30, 2013, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	Quoted Prices in								Total Increase
	Active Markets for		Significant Other		Significant				in Fair Value
Balance Sheet	Identical Assets or		Observable  Inputs		Unobservable		April 30, 2013		Recorded at
Location	Liabilities (Level 1)		(Level 2)		Inputs (Level 3)		Total		April 30, 2013
Liabilities:
Derivative liability - Notes	$	-	$	-	$	3,088,756	$	3,088,756	$	472,896
Derivative liability - Warrants	$	-	$	-	$	3,858,508	$	3,858,508	$	2,230,352

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

The following tables set forth the assets and liabilities measured at fair value on a nonrecurring basis, by input level, in the consolidated financial statements as of April 30, 2013 and 2012:

	Quoted Prices in								Total Increase (Reduction)
	Active Markets for		Significant Other		Significant				in Fair Value
Balance Sheet	Identical Assets or		Observable Inputs		Unobservable		April 30, 2013		Recorded at
Location	Liabilities (Level 1)		(Level 2)		Inputs (Level 3)		Total		April 30, 2013
Assets:
Goodwill	$	-	$	-	$	-	$	-	$	(1,930,826)

	Quoted Prices in								Total Increase (Reduction)
	Active Markets for		Significant Other		Significant				in Fair Value
Balance Sheet	Identical Assets or		Observable Inputs		Unobservable		April 30, 2012		Recorded at
Location	Liabilities (Level 1)		(Level 2)		Inputs (Level 3)		Total		April 30, 2012
Assets:
Customer list	$	-	$	-	$	381,904	$	381,904	$	(168,604)
Liabilities:
Acquisition-related contingent consideration	$	-	$	-	$	-	$	-	$	83,628

Senior Secured Convertible Notes and Warrants [Member]

Schedule Of Changes In Fair Value Of Level 3 Ffinancial Liability Or Derivative Liability

The table below sets forth a summary of changes in the fair value of the Company’s Level 3 derivative liabilities related to the senior secured convertible notes and warrants for the period ended April 30, 2013.

	Notes		Warrants
Balance at beginning of year	$	-	$	-
Additions to derivative instruments		2,615,861		1,628,155
Change in fair value of derivative liabilities		472,895		2,230,353
Balance at end of year	$	3,088,756	$	3,858,508