Commitments And Contingencies

12 Months Ended

Apr. 30, 2015

Commitments And Contingencies [Abstract]

Note 13. Commitments and Contingencies

Operating Leases

We lease office space and equipment under non-cancelable operating lease arrangements expiring at various dates through fiscal 2020. Such leases generally have escalation clauses, lease incentives and rent abatements, which are amortized and recorded over the lease term on a straight-line basis. Effective January 1, 2014, we closed our offices in San Francisco and New York. We have entered into various sublease agreements to sublease all our space in our San Francisco and New York facilities. These sublease agreements require monthly rent payment and may contain escalation clauses. The sublease agreements have expiration dates co-terminus to our lease arrangements with the landlords.

Future minimum rental payments and contracted sublease rent receipts under these leases as of April 30, 2015 are as follows (in thousands):


		Minimum		Sublease
		Lease Payments		Rent Receipts
Years Ending April 30,
2016		1,733		583
2017		1,267		355
2018		468		-
2019		405		-
2020		340
Thereafter		-		-
	$	4,213	$	938

Rent expense under operating leases was $0.7 million and $1.2 million for the years ended April 30, 2015 and 2014, respectively.

Capital Leases

We entered into arrangements for equipment and office furniture under non-cancelable capital lease arrangements expiring at various dates through fiscal 2016. Future minimum payments under these leases as of April 30, 2015 are as follows (in thousands):


Years Ending April 30,
2016	$	22

Assets capitalized through capital leases included in equipment and furniture at April 30, are as follows (in thousands):


		2015		2014
Equipment	$	1,356	$	1,356
Furniture		115		115
		1,471		1,471
Less accumulated depreciation		(1,399)		(1,094)
Property and equipment, net	$	72	$	377

Litigation

We are subject to legal proceedings and claims that arise in the normal course of business. If such matters arise, we cannot assure that we would prevail in such matters, nor can we assure that any remedy could be reached on mutually agreeable terms, if at all. Due to the inherent uncertainties of litigation, were there any such matters, we may not be able to accurately predict their ultimate outcome. As of April 30, 2015, we are not involved in any legal proceedings or litigation that we believe would have a material adverse impact on our financial position, results of operations, or cash flows.