DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Jan. 31, 2015

Discontinued Operations

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement

As a result, the Company has reported the financial activity of Pride, BTX and Seattle as discontinued operations for all periods presented. The following is a summary of the operating results for the discontinued operations as follows:

	Three months ended				Nine months ended
	January 31,				January 31,
	2015		2014		2015		2014
REVENUE	$	5,150	$	3,657,920	$	4,736,171	$	13,520,488
COSTS AND EXPENSES:
Cost of revenue		4,656		2,744,479		3,541,977		9,844,838
Selling, general and administrative expenses		119,367		1,248,533		1,653,998		3,181,675
Depreciation and amortization		216		70,880		517,226		235,386
Impairment loss on capitalized software		-		-		827,448		-
		124,239		4,063,892		6,540,649		13,261,899
OPERATING (LOSS) INCOME FROM DISCONTINUED OPERATIONS		(119,089)		(405,972)		(1,804,478)		258,589
Interest (income) expense		(8,576)		2,607		1,270		5,292
(Loss) income from discontinued operations		(110,513)		(408,579)		(1,805,748)		253,297
Gain (loss) from disposal		-		(104,446)		798,896		(104,446)
Gain from disposal of BTX		19,700		-		19,700		-
Loss from disposal of Seattle Operations		-		-		(374,932)		-
TOTAL (LOSS) INCOME FROM DISCONTINUED OPERATIONS	$	(90,813)	$	(513,025)	$	(1,362,084)	$	148,851

Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet

The following table summarizes assets and liabilities held for sale for the Seattle operations as of January 31, 2015 and for Seattle, Pride and BTX operations as April 30, 2014:

	January 31, 2015		April 30, 2014
ASSETS
CURRENT ASSETS:
Accounts receivable, net of allowance	$	-	$	3,351,881
Costs and estimated earnings in excess of billings on uncompleted contracts		-		616,858
Prepaid expenses and other current assets		-		49,307
Total current assets held for sale		-		4,018,046
PROPERTY AND EQUIPMENT, net		-		353,428
Capitalized software, net		-		3,207,305
OTHER ASSETS		14,000		33,646
Total other assets held for sale		14,000		3,594,379
Total assets held for sale	$	14,000	$	7,612,425
LIABILITIES
Current portion of loans payable	$	-	$	115,325
Accounts payable and accrued expenses		-		1,598,912
Billings in excess of costs and estimated earnings on uncompleted contracts		-		345,108
Secured promissory note, related parties				500,000
Total current liabilities held for sale		-		2,559,345
Total liabilities held for sale	$	-	$	2,559,345