2. Discontinued Operations

12 Months Ended

Apr. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

2.   Discontinued Operations

On April 26, 2018, the Company sold its Gillam-FEI s.a. (“Gillam”) Belgium subsidiary to a European entity, in a stock purchase agreement, for $1 million in cash received on April 27, 2018, and a note receivable payable in three years for $1 million, included in other assets in the accompanying Consolidated Balance Sheets.  The loss recorded due to the sale of Gillam was approximately $359,000. The calculation of the loss was the carrying amount of the investment on FEI-NY’s books less the retained earnings and remaining equity amounts of Gillam reduced by the cash received and the note receivable which is recorded in other assets on the Consolidated Balance Sheets. As such Gillam’s results have been classified as discontinued operations in the accompanying Consolidated Statements of Operations and Comprehensive Loss.

Summarized operating results for the Gillam discontinued operations for the year ended April 30, 2018, were as follows (in thousands):

Revenues	$	4,694
Cost of revenues		3,314
Gross profit		1,380
Selling and administrative expenses		1,902
Research and development expenses		436
Operating Loss		(958	)
Other income (expense):
Investment loss
Other income (expense), net		(9	)
Loss before provision for income taxes		(967	)
Provision for income taxes		-
Net (loss) income		(967	)
Net loss from sale of discontinued operations		(359	)
Total net (loss) income from discontinued operations	$	(1,326	)