BASIS OF PRESENTATION AND LIQUIDITY (Tables)

6 Months Ended

Oct. 31, 2014

Liquidity and Basis Of Presentation

Schedule Of Inducement Expenses

A summary table of the inducement expense (difference between the fair value of the series F and G preferred stock and the carrying amount of the senior secured convertible note and make-whole amount prior to the conversion) for the three month ended October 31, 2014 is as follows:

Fair value of series F preferred stock (5,268 shares at $301.81 per share)	$	1,589,933
Fair value of series G preferred stock (2,088 shares at $350.43 per share)		731,706
Total consideration		2,321,639
Less: senior secured convertible note		(145,362)
Less: make-whole amount on senior secured convertible note		(305,779)
Total inducement expense	$	1,870,498