CREDIT RISK

12 Months Ended

Apr. 30, 2013

CREDIT RISK [Abstract]

CREDIT RISK

3. CREDIT RISK

Of the cash and cash equivalents amount of approximately $7.3 million at April 30, 2013, approximately $1.5 million represents highly liquid money market funds which are not Federal Deposit Insurance Corporation ("FDIC") insured. As of April 30, 2013, such other cash balances exceeded the FDIC limitation for coverage of $250,000 by approximately $5.6 million. The Company maintains its other cash balances primarily in three financial institutions. The Company reduces its exposure to credit risk by maintaining all of its cash balances with highly rated financial institutions.