DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Jul. 31, 2015

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

	For the three months ended
	July 31,
	2015		2014

Revenue	$	839,969	$	3,976,501

Costs and expenses:
Cost of revenue		546,296		2,843,586
Selling, general and administrative expenses		111,324		1,018,449
Depreciation and amortization		80,971		476,246
		738,591		4,338,281
Operating income (loss) from discontinued operations		101,378		(361,780)

Interest expense		49,234		66,919
Income (loss) from discontinued operations before income tax provision		52,144		(428,699)
Income tax provision		10,883		9,415
Income (loss) from discontinued operations, net of tax		41,261		(438,114)
Gain from disposal		-		798,896
Total income from discontinued operations	$	41,261	$	360,782

The following table summarizes assets and liabilities held for sale for the Seattle and China Operations as of July 31, 2015 and April 30, 2015:

	July 31, 2015		April 30, 2015
Assets
Current assets:
Accounts receivable, net of allowance	$	4,475,826	$	4,264,451
Prepaid expenses and other current assets		162,780		34,800
Deferred contract cost		399,353		267,000
Total current assets held for sale		5,037,959		4,566,251

Property and equipment, net		964,211		963,119

Other assets		14,000		14,000
Total other assets held for sale		978,211		977,119
Total assets held for sale	$	6,016,170	$	5,543,370

Liabilities
Accounts payable and accrued expenses	$	1,422,226	$	1,700,943
Due to related party		3,291,862		785,684
Short term bank loan		3,221,400		3,224,180
Total current liabilities held for sale		7,935,488		5,710,807
Total liabilities held for sale	$	7,935,488	$	5,710,807

Noncontrolling interest for the three months ended July 31, 2015 consists of the following:

	July 31, 2015
Balance at April 30, 2015	$	560,915
Net income attributable to noncontrolling interest		16,505
Other comprehensive loss attributable to noncontrolling interest		(431)
Balance at July 31, 2015	$	576,989