RETIREMENT PLANS

12 Months Ended

Apr. 30, 2016

Compensation and Retirement Disclosure [Abstract]

RETIREMENT PLANS

NOTE 10 - RETIREMENT PLANS

Employee Benefit Plan

The Company and its subsidiaries participate in employee savings plans under Section 401(k) of the Internal Revenue Code pursuant to which eligible employees may elect to defer a portion of their annual salary by contributing to the plan. There were no Company matching contributions made for the years ended April 30, 2016 and 2015.

Union Sponsored Pension Plan

The Company also contributes to one multiemployer pension plan pursuant to a collective bargaining agreement. The information available to the Company about the multiemployer plan in which it participates, whether via request to the plan or publicly available, is generally dated due to the nature of the reporting cycle of multiemployer plans and legal requirements under the Employee Retirement Income Security Act (“ERISA”) as amended by the Multiemployer Pension Plan Amendments Act (“MPPAA”). Based upon the plans most recently available annual report, the Company’s contribution to the plan was less than 5% of each such plans total contributions. The “FIP/RP Status Pending or Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented.

The risks of participation in a multiemployer plan is different than single-employer plans in the following aspects; (i) assets contributed to the plan by a company may be used to provide benefits to participants of other companies;(ii) if a participating company discontinues contributions to a plan, other participating employers may have to cover and unfunded liability that may exist; and (iii) if the Company stops participating in the multiemployer pension plan, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

Information on the significant multiemployer pension plan in which the Company participates is included in the table below.

					Expiration of
	Federal	Pension		FIP/RP	Collective
	Identification	Certified Zone Status		Status Pending	Bargaining	Company's Contributions
Pension Plan Legal name	Number	2016	2015	or Implemented	Arrangement	2016		2015
International Brotherhood of Electrical Workers District No. 9 Pension Plan	93-6074829	NA	Green	No	11/30/2017	$	366,923	$	489,786

Governmental regulations impose certain requirements relative to the multi-employer plans. In the event of plan termination or employer withdrawal, an employer may be liable for a portion of the plan’s unfunded vested benefits. The Company has not received information from the plan’s administrators to determine its share of unfunded vested benefits. The Company does not anticipate withdrawal from the plans, nor is the Company aware of any expected plan terminations.