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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Apr. 30, 2016
FAIR VALUE MEASURMENTS [Abstract]  
Schedule of fair value, assets and liabilities measured on recurring basis
The following table presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis as of April 30, 2016 (in thousands):

 
Level 1
 
Level 2
 
Level 3
 
Fair Value
Promissory notes
$
-
 
$
-
 
$
3,988
 
$
3,988
Long-term debt
 
-
 
 
-
 
 
7,682
 
 
7,682
 
$
-
 
$
-
 
$
11,670
 
$
11,670

The following table presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis as of April 30, 2015 (in thousands):

 
Level 1
 
Level 2
 
Level 3
 
Fair Value
Promissory notes
$
-
 
$
-
 
$
1,510
 
$
1,510
Long-term debt
 
-
 
 
-
 
 
9,282
 
 
9,282
 
$
-
 
$
-
 
$
10,792
 
$
10,792