XML 56 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Jan. 31, 2013
Jan. 31, 2012
Cash flows from operating activities:    
Net loss $ (3,005,137) $ (6,215,443)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 327,700 525,699
Bad debt expense 57,888 17,885
Stock-based compensation expense 205,033 378,523
Impairment of capitalized software    2,387,241
Changes in assets and liabilities:    
Decrease (increase) in accounts receivable 238,838 1,849,199
Decrease (increase) in inventories 19,435 2,138,100
Increase in other current assets (46) 30,992
Decrease (increase) in other assets (1,086) 29,150
Increase (decrease) in accounts payable (386,516) (2,239,106)
Increase (decrease) in accrued liabilities (122,802) 18,427
Net cash used in operating activities (2,666,693) (1,079,333)
Cash flows from investing activities:    
Acquisition of business (68,521) (211,053)
Additions to property and equipment (5,950) (223,948)
Software development costs    (907,069)
Issuance of note receivable (750,000)   
Net cash used in investing activities (824,471) (1,342,070)
Cash flows from financing activities:    
Net borrowings (payments) under revolving credit line 1,351,364 (683,051)
Payments under related party note payable (233,333) 500,000
Net proceeds from sale of common shares    2,997,875
Purchase of treasury stock (142,262)   
Net cash provided by financing activities 975,769 2,814,824
Net increase (decrease) in cash and cash equivalents (2,515,395) 393,421
Cash and cash equivalents at beginning of period 3,274,741 345,105
Cash and cash equivalents at end of period 759,346 738,526
Supplemental disclosure of non-cash financing activities:    
Borrowings from and repayment to related party    1,500,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 146,824 277,212
Cash paid during the period for income taxes    $ 4,881