Quarterly report pursuant to sections 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended
Oct. 31, 2013
Oct. 31, 2012
Oct. 31, 2013
Oct. 31, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]        
Revenues $ 885,338 $ 727,640 $ 1,815,331 $ 1,425,793
Operating expenses        
Cost of revenues (exclusive of amortization expense included in depreciation and amortization shown separately below) 494,304 387,052 1,002,973 1,023,824
General and administrative 1,577,086 1,069,042 3,000,942 2,437,325
Receivable collateral valuation reserve    193,198    502,316
Depreciation and amortization 119,651 105,707 229,086 204,278
Total operating expenses 2,191,041 1,754,999 4,233,001 4,167,743
Operating loss from continuing operations (1,305,703) (1,027,359) (2,417,670) (2,741,950)
Other income (expense):        
Interest income 326 453 613 557
Interest expense (122,695) (229,349) (138,854) (357,133)
Total other expense, net (122,369) (228,896) (138,241) (356,576)
Loss from continuing operations before income taxes (1,428,072) (1,256,255) (2,555,911) (3,098,526)
Income tax expense (benefit)            
Loss from continuing operations (1,428,072) (1,256,255) (2,555,911) (3,098,526)
Discontinued operations (Note 1)        
Income (loss) from discontinued operations, net of income taxes 32,650 (14,867) 54,913 75,176
Net loss $ (1,395,422) $ (1,271,122) $ (2,500,998) $ (3,023,350)
Loss per share from continuing operations - basic and diluted $ (0.02) $ (0.04) $ (0.04) $ (0.09)
Income (loss) per share from discontinued operations - basic and diluted $ 0.00 $ 0.00 $ 0.00 $ 0.00
Net loss per share - basic and diluted $ (0.02) $ (0.04) $ (0.04) $ (0.09)
Weighted average number of common shares outstanding:        
basic and diluted 58,990,365 35,295,204 58,760,342 35,295,204