5. STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Apr. 30, 2016

Common Stock

Schedule of stock issued under financing transactions

Description of Financing Transaction	Number of Common Stock Shares Issued		Gross Proceeds Raised
Fiscal Year 2014
At Market Issuance Sales Agreement dated December 27, 2012		33,527,369	$	55,424,000
Fiscal Year 2015
At Market Issuance Sales Agreement dated December 27, 2012		3,983,360	$	6,204,000
At Market Issuance Sales Agreement dated June 13, 2014		9,681,757	$	13,544,000
		13,665,117	$	19,748,000
Fiscal Year 2016
At Market Issuance Sales Agreement dated June 13, 2014		8,629,738	$	11,456,000
At Market Issuance Sales Agreement dated August 7, 2015		6,751,651	$	7,447,000
Equity Distribution Agreement dated August 7, 2015		8,472,288	$	6,969,000
Common Stock Purchase Agreement dated October 30, 2015		18,518,518	$	20,000,000
		42,372,195	$	45,872,000

Preferred Stock

Schedule of stock issued under financing transactions

Description of Financing Transaction	Number of Preferred Stock Shares Issued		Gross Proceeds Raised
Fiscal Year 2014
Initial Public Offering dated February 11, 2014		775,000	$	19,375,000
Fiscal Year 2015
At Market Issuance Sales Agreement dated June 13, 2014		799,764	$	19,205,000
Fiscal Year 2016
At Market Issuance Sales Agreement dated June 13, 2014		2,676	$	60,000

Schedule of preferred stock dividends

Declaration Date	Dividend Per Share	Annualized Percentage Rate	Liquidation Preference	Accrual Period	Record Date	Payment Date
Fiscal year 2014
3/11/2014	$0.29890 (1)	10.50%	$25.00	2/19/2014 – 3/31/2014	3/21/2014	4/1/2014
Fiscal year 2015
6/10/2014	$0.65625	10.50%	$25.00	4/1/2014 – 6/30/2014	6/20/2014	7/1/2014
9/8/2014	$0.65625	10.50%	$25.00	7/1/2014 – 9/30/2014	9/19/2014	10/1/2014
12/9/2014	$0.65625	10.50%	$25.00	10/1/2014 – 12/31/2014	12/19/2014	1/2/2015
3/10/2015	$0.65625	10.50%	$25.00	1/1/2015 – 3/31/2015	3/20/2015	4/1/2015
Fiscal year 2016
6/5/2015	$0.65625	10.50%	$25.00	4/1/2015 – 6/30/2015	6/19/2015	7/1/2015
9/8/2015	$0.65625	10.50%	$25.00	7/1/2015 – 9/30/2015	9/18/2015	10/1/2015
12/7/2015	$0.65625	10.50%	$25.00	10/1/2015 – 12/31/2015	12/18/2015	1/4/2016
3/7/2016	$0.65625	10.50%	$25.00	1/1/2016 – 3/31/2016	3/18/2016	4/1/2016

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⁽¹⁾ Dividend per share was pro-rated for the initial accrual period starting February 19, 2014.