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Preferred Stock
3 Months Ended
Jul. 31, 2013
Preferred Stock [Abstract]  
Preferred Stock

10.   Preferred Stock    

    

In June 2011, the Company issued, through a private placement, 1,666,667 shares of preferred stock to a group of related party institutional investors at a price of $2.40 per share for a total of $4.0 million.  These shares of preferred stock were automatically converted on a 1-for-1 basis into shares of common stock on June 30, 2013. The preferred stock included an annual dividend of $0.24 per share payable in cash or stock at the Company’s option. During the three months ended July 31, 2013, the Company did not pay preferred stock dividends.  As of July 31, 2013, the Company had accrued $66,000 of dividends payable on preferred stock ($0.04 per preferred share) included in other accrued liabilities. These dividends were paid in August 2013.