DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Jul. 31, 2014

Discontinued Operations

Gain On Sale Discontinued Operation

The gain on sale of Australia is as follows:

Purchase price	$	970,010
Net assets before accumulative other comprehensive income		1,037,833
Accumulative other comprehensive income		(866,719)
Gain on sale of Australia	$	798,896

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement

The Company has reported the financial activity of these two operations as discontinued operations for all periods presented. The following is a summary of the operating results for the discontinued operations is as follows:

	Three months ended
	July 31,
	2014		2013
REVENUE	$	3,270,074	$	5,456,345
COSTS AND EXPENSES:
Cost of revenue		2,330,901		3,994,779
Selling, general and administrative expenses		739,423		1,032,679
Depreciation and amortization		49,884		91,141
		3,120,208		5,118,599
OPERATING INCOME FROM DISCONTINUED OPERATIONS		149,866		337,746
Interest expense		1,005		564
Interest income		-		(2,770)
Income from discontinued operations		148,861		339,952
Gain on sale of Australia		798,896		-
TOTAL INCOME FROM DISCONTINUED OPERATIONS	$	947,757	$	339,952

Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet

The following table summarizes the assets and liabilities held for sale for the Seattle operations as of July 31, 2014 and April 30, 2014:

	July 31, 2014		April 30, 2014
ASSETS
CURRENT ASSETS:
Accounts receivable, net of allowance	$	2,651,576	$	3,351,881
Costs and estimated earnings in excess of billings on uncompleted contracts		318,215		616,858
Prepaid expenses and other current assets		3,147		33,073
Total current assets held for sale		2,972,938		4,001,812
PROPERTY AND EQUIPMENT, net		179,339		342,884
OTHER ASSETS		14,000		30,046
Total other assets held for sale		193,339		372,930
Total assets held for sale	$	3,166,277	$	4,374,742
LIABILITIES
Current portion of loans payable	$	27,218	$	26,921
Accounts payable and accrued expenses		867,900		1,425,586
Billings in excess of costs and estimated earnings on uncompleted contracts		438,727		345,108
Total current liabilities held for sale		1,333,845		1,797,615
Loans payable, net of current portion		81,506		88,404
Total liabilities	$	1,415,351	$	1,886,019