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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jul. 31, 2014
Apr. 30, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 1,318,949 $ 2,177,070
Accounts receivable, net of allowance of $1,086,000 and $1,034,000 at July 31, 2014 and April 30, 2014, respectively 9,697,262 8,614,396
Costs and estimated earnings in excess of billings on uncompleted contracts 567,186 431,348
Deferred contract costs 1,221,201 1,166,734
Prepaid expenses and other current assets 239,173 217,235
Current assets held for sale 2,972,938 4,001,812
Total current assets 16,016,709 16,608,595
PROPERTY AND EQUIPMENT, net 1,652,387 1,780,520
CAPITALIZED SOFTWARE COSTS, net 2,940,793 3,207,305
OTHER ASSETS 20,675 52,376
OTHER ASSETS HELD FOR SALE 193,339 372,930
Total assets 20,823,903 22,021,726
CURRENT LIABILITIES:    
Current portion of loans payable 37,549 31,680
Senior secured convertible notes, net of debt discount of $0 and $853,000, respectively 898,338 44,921
Make-whole amount on senior secured convertible notes 1,889,716 0
Accounts payable and accrued expenses 6,121,161 4,956,232
Accrued severance 301,455 1,520,205
Billings in excess of costs and estimated earnings on uncompleted contracts 1,213,690 1,448,563
Due related party 789,710 778,573
Other payable to Zurich 1,533,757 1,533,757
Short-term bank loan 3,240,700 3,195,000
Income taxes payable 9,731 30,855
Dividend payable 74,487 72,034
Current liabilities held for sale 1,415,351 1,886,019
Total current liabilities 17,525,645 15,497,839
Loans payable, net of current portion 61,227 56,537
Secured promissory note, related parties 500,000 500,000
Total liabilities 18,086,872 16,054,376
COMMITMENTS AND CONTINGENCIES      
WPCS EQUITY:    
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 $5,617,000 2,438,000 2,438,000
Common stock - $0.0001 par value, 14,285,714 shares authorized, 13,913,164 shares issued and outstanding as of July 31, 2014 and April 30, 2014 1,391 1,391
Additional paid-in capital 66,672,106 66,672,106
Accumulated deficit (67,534,540) (65,222,355)
Accumulated other comprehensive income on foreign currency translation 358,274 1,232,003
Total WPCS equity 1,935,231 5,121,145
Noncontrolling interest 801,800 846,205
Total equity 2,737,031 5,967,350
Total liabilities and equity $ 20,823,903 $ 22,021,726