BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE (Tables)

3 Months Ended

Jul. 31, 2017

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

	For the three months ended
	July 31,
	2017		2016
Numerator:
Net (loss) income, basic and diluted	$	(440,078)	$	557,181
Denominator:
Weighted average shares outstanding – basic		3,352,159		2,701,404
Stock options		-		160,524
Series H and H-1 convertible preferred stock		-		1,075,700
Weighted average shares outstanding – diluted		3,352,159		3,937,628
Basic (loss) income per common share	$	(0.13)	$	0.21
Diluted (loss) income per common share	$	(0.13)	$	0.14

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities were excluded from the weighted average dilutive common shares outstanding because their inclusion would have been antidilutive.

	As of July 31,
	2017		2016
Common stock equivalents:
Common stock options		3,253,000		865,000
Series H, H-1, H-2 and H-3 preferred stock		1,462,000		-
Common stock purchase warrants		2,893,000		1,295,000
Totals		7,608,000		2,160,000