BASIS OF PRESENTATION AND LIQUIDITY (Tables)

12 Months Ended

Apr. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule Of Inducement Expenses

A summary table of the inducement expense (difference between the fair value of the preferred stock and the carrying amount of the senior secured convertible note and make-whole amount prior to the conversion) for the year ended April 30, 2015, is as follows:

	April 30, 2015
Fair value of series F and F-1 preferred stock (16,443 shares at $301.81)	$	4,963,000
Fair value of series G and G-1 preferred stock (5,530 shares at $350.43)		1,938,000
Total consideration		6,901,000
Less: senior secured convertible note		(459,000)
Less: make-whole amount on senior secured convertible note		(949,000)
Total inducement expenses	$	5,493,000