XML 13 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Apr. 30, 2016
Apr. 30, 2015
Current assets:    
Cash and cash equivalents $ 2,235,597 $ 2,364,360
Accounts receivable, net of allowance of $92,000 at April 30, 2016 and April 30, 2015, respectively 2,886,154 6,494,890
Costs and estimated earnings in excess of billings on uncompleted contracts 357,210 420,434
Prepaid expenses and other current assets 66,256 159,769
Current assets held for sale 0 4,566,251
Total current assets 5,545,217 14,005,704
Property and equipment, net 237,800 162,986
Other assets 21,162 11,384
Other assets held for sale 0 977,119
Total assets 5,804,179 15,157,193
Current liabilities:    
Current portion of loans payable 53,996 39,935
Accounts payable and accrued expenses 2,071,765 5,414,269
Billings in excess of costs and estimated earnings on uncompleted contracts 1,358,289 1,346,461
Other payable to Zurich 0 360,000
Short-term promissory notes 0 1,703,000
Dividends payable 0 677,546
Current liabilities held for sale 0 5,710,807
Total current liabilities 3,484,050 15,252,018
Loans payable, net of current portion 94,825 44,239
Total liabilities 3,578,875 15,296,257
Commitments and contingencies
WPCS equity (deficit):    
Preferred stock
Common stock - $0.0001 par value, 100,000,000 shares authorized, 2,691,055 and 982,660 shares issued and outstanding as of April 30, 2016 and April 30, 2015, respectively 269 98
Additional paid-in capital 85,940,389 70,380,397
Accumulated deficit (84,820,940) (76,550,894)
Accumulated other comprehensive income on foreign currency translation 0 349,723
Total WPCS equity (deficit) 2,225,304 (699,979)
Noncontrolling interest 0 560,915
Total equity (deficit) 2,225,304 (139,064)
Total liabilities and equity 5,804,179 15,157,193
Convertible Series F [Member]    
WPCS equity (deficit):    
Preferred stock 0 1,589,933
Convertible Series F-1 [Member]    
WPCS equity (deficit):    
Preferred stock 0 1,702,808
Convertible Series G [Member]    
WPCS equity (deficit):    
Preferred stock 0 731,706
Convertible Series G-1 [Member]    
WPCS equity (deficit):    
Preferred stock 0 1,096,250
Convertible Series H [Member]    
WPCS equity (deficit):    
Preferred stock 406,262 0
Convertible Series H-1 [Member]    
WPCS equity (deficit):    
Preferred stock $ 699,324 $ 0