OTHER LIABILITIES:

12 Months Ended

Apr. 30, 2012

Other Liabilities and Financial Instruments Subject To Mandatory Redemption [Abstract]

Other Liabilities Disclosure [Text Block]

(9)   OTHER LIABILITIES:

In June 2009, Palm Coast received $3,000,000 pursuant to an agreement with the State of Florida (the “Award Agreement”) as part of the incentives made available in connection with the Company’s project, completed in the second quarter of 2011, to consolidate its Subscription Fulfillment Services operations at its Palm Coast, Florida location.  The Award Agreement includes certain performance requirements in terms of job retention, job creation and capital investment through December 31, 2012 which, if not met by Palm Coast, entitle the State of Florida to obtain the return of a portion, or all, of the $3,000,000.  Accordingly, the $3,000,000 has been recorded as a liability in the accompanying balance sheet.  The award monies, if any, to which Palm Coast becomes irrevocably entitled will be amortized into income over the life of the assets acquired with them.  As of April 30, 2012 Palm Coast had not met certain of the performance requirements, in large part due to the adverse economic conditions experienced by the magazine publishing industry since the Award Agreement was entered into.  Palm Coast is currently in discussions with the State of Florida regarding the project’s performance data, and is unable to offer any assurance that the award monies, in whole or in part, will not have to be returned to the State of Florida.