7. INCOME TAXES (Tables)

12 Months Ended

Apr. 30, 2018

Income Tax Disclosure [Abstract]

Provision for income taxes

	2018			2017			2016
Federal income taxes at statutory rate	$	(6,112,000	)	$	475,000		$	1,223,000
State income taxes		155,000			309,000			413,000
Expiration and adjustments of deferred tax assets		1,840,000			1,693,000			1,580,000
Change in valuation allowance		(57,599,000	)		(2,616,000	)		(3,511,000	)
Share-based compensation		1,584,000			–			–
Other, net		6,000			139,000			295,000
Tax Cuts and Jobs Act		60,126,000			–			–
Income tax (expense) benefit	$	–		$	–		$	–

Deferred income taxes

	2018			2017
Share-based compensation	$	4,828,000		$	9,583,000
Deferred revenue		2,852,000			12,157,000
Deferred rent		568,000			738,000
Other		879,000			2,984,000
Net operating losses		115,236,000			154,030,000
Total deferred tax assets		124,363,000			179,492,000
Less valuation allowance		(123,555,000	)		(178,400,000	)
Total deferred tax assets, net of valuation allowance	$	808,000		$	1,092,000
Deferred tax liabilities:
Fixed assets		(808,000	)		(1,092,000	)
Total deferred tax liabilities		(808,000	)		(1,092,000	)
Net deferred tax assets	$	–		$	–