BASIC AND DILUTED NET LOSS PER COMMON SHARE (Tables)

3 Months Ended

Jul. 31, 2014

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Below is a tabulation of the potentially dilutive securities that were “in the money” for the three months ended July 31, 2014 and 2013, respectively.

	Three months ended
	July 31,
	2014				2013
Common stock equivalents:
Stock options		79,207				116,279
Series E preferred stock		696,571	*			-
Senior secured convertible notes		36,166,907	*	(1)		1,581,355
Stock warrants		3,774,796	*			2,274,796

Totals		40,717,481				3,972,430

* These diluted shares are non-exercisable/convertible until there are enough authorized shares.

(1) The Company and the Holders are currently reviewing the Notes and are seeking to resolve the number of shares of the Company’s common stock the Make-Whole Amount would be convertible into.