BASIS OF PRESENTATION AND LIQUIDITY (Tables)

9 Months Ended

Jan. 31, 2015

Liquidity and Basis Of Presentation

Schedule Of Inducement Expenses

A summary table of the inducement expense (difference between the fair value of the series and preferred stock and the carrying amount of the senior secured convertible note and make-whole amount prior to the conversion) for the three and nine months ended January 31, 2015 is as follows:

	3 Months		9 Months
Fair value of series F preferred stock (11,175 and 16,443 shares, respectively at $301.81)	$	3,373,000	$	4,963,000
Fair value of series G preferred stock (3,442 and 5,530 shares, respectively at $350.43)		1,206,000		1,938,000
Total consideration		4,579,000		6,901,000
Less: senior secured convertible note		(314,000)		(459,000)
Less: make-whole amount on senior secured convertible note		(643,000)		(949,000)
Total inducement expenses	$	3,622,000	$	5,493,000