DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Apr. 30, 2015

Discontinued Operations

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement

Below is a summary of the operating results for the discontinued operations is as follows:   

	For the years ended
	April 30,
	2015		2014
REVENUE	$	8,773,567	$	22,211,963
COSTS AND EXPENSES:
Cost of revenue		6,078,094		15,909,636
Selling, general and administrative expenses		2,963,330		4,903,350
Depreciation and amortization		1,144,056		1,092,527
Impairment loss on capitalized software		827,449		-
		11,012,929		21,905,513
OPERATING (LOSS) INCOME FROM DISCONTINUED OPERATIONS		(2,239,362)		306,450
Interest expense		245,936		241,301
(Loss) income from discontinued operations before income tax provision		(2,485,298)		65,149
Income tax provision		64,815		445,665
(Loss) from discontinued operations, net of tax		(2,550,113)		(380,516)
Gain (loss) from disposal		798,896		(104,446)
Gain from disposal of BTX		19,700		-
Loss from disposal of Seattle Operations		(374,932)		-
TOTAL LOSS FROM DISCONTINUED OPERATIONS	$	(2,106,449)	$	(484,962)

Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet

The following table summarizes the assets and liabilities held for sale:

	April 30,		April 30,
	2015		2014
ASSETS
CURRENT ASSETS:
Accounts receivable, net of allowance	$	4,264,451	$	7,350,524
Costs and estimated earnings in excess of billings on uncompleted contracts		-		616,858
Prepaid expenses and other current assets		34,800		98,245
Deferred contract cost		267,000		1,166,734
Total current assets held for sale		4,566,251		9,232,361
PROPERTY AND EQUIPMENT, net		963,119		1,947,123
Capitalized software, net		-		3,207,305
OTHER ASSETS		14,000		33,646
Total other assets held for sale		977,119		5,188,074
Total assets held for sale	$	5,543,370	$	14,420,435
LIABILITIES
Current portion of loans payable	$	-	$	115,325
Accounts payable and accrued expenses		1,700,943		2,579,350
Billings in excess of costs and estimated earnings on uncompleted contracts		-		345,108
Due to related party		785,684		778,573
Short term bank loan		3,224,180		3,195,000
Secured promissory note, related parties		-		500,000
Total current liabilities held for sale		5,710,807		7,513,356
Total liabilities held for sale	$	5,710,807	$	7,513,356

Schedule of Noncontrolling

Noncontrolling interest for the years ended April 30, 2015 and 2014 consists of the following:

	Years Ended
	April 30,
	2015		2014
Balance, beginning of year	$	846,205	$	849,138
Net (loss) income attributable to noncontrolling interest		(284,211)		11,287
Other comprehensive loss attributable to noncontrolling interest		(1,079)		(14,220)
Balance, end of year	$	560,915	$	846,205