DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Apr. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Variable Interest Entities [Table Text Block]

As noted above, ARIC has the following assets related to MD Buyers (amounts in thousands):

	April 30, 2015
Buyer Promissory Note receivable	$	1,600
Line of Credit receivable	$	2,000

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The following table provides a reconciliation of the carrying amounts of major classes of assets and liabilities of the discontinued operations noted above to the assets and liabilities classified as discontinued operations in the accompanying balance sheets (in thousands):

	April 30,
	2015		2014
Carrying amounts of major classes of assets included as part of discontinued operations:
Cash and cash equivalents	$	1,241	$	5,358
Receivables, net		431		32,541
Deferred income taxes receivable		-		977
Property, plant and equipment, net		-		821
Intangible and other assets, net		17		2,640
Total assets classified as discontinued operations in the accompanying balance sheets	$	1,689	$	42,337
Carrying amounts of major classes of liabilities included as part of discontinued operations:
Accounts payable, net and accrued expenses	$	150	$	62,196
Deferred and income taxes payable		145		-
Notes payable		-		1,059
Total liabilities classified as discontinued operations in the accompanying balance sheets	$	295	$	63,255

The following table provides a reconciliation of the carrying amounts of components of pretax income or loss of the discontinued operations to the amounts reported in the accompanying statements of operations (in thousands):

	April 30,
	2015		2014
Components of pretax income (loss) from discontinued operations:
Revenues	$	17,700	$	25,405
Operating expenses		(15,810)		(25,526)
General and administrative expenses		(1,605)		(2,164)
Impairment of assets		-		(269)
Interest expense		(32)		(73)
Gain from settlement (Note 17)		11,155		-
Gain on discontinued operations		10,729		-
Income (loss) from discontinued operations before income taxes		22,137		(2,627)
Provision (benefit) for income taxes		7,233		(335)
Net income (loss) from discontinued operations	$	14,904	$	(2,292)

Operating expenses for discontinued operations in 2015 includes a reduction in the reserve for bad debts of approximately $1,500,000 for a previously recorded charge to operations.

The following table provides the total operating and investing cash flows of the discontinued operations for the periods in which the results of operations of the discontinued operations are presented in the accompanying statements of operations (in thousands):

	April 30,
	2015		2014
Cash flows from discontinued operating activities:
Net income (loss)	$	14,904	$	(2,292)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Non-cash gain on settlement		(11,155)		-
Non-cash gain on discontinued operations		(10,479)		-
Depreciation and amortization		311		466
Impairment of assets		-		269
Non-cash credits and charges:
Allowance for doubtful accounts		(1,484)		2,041
Changes in assets and liabilities:
Receivables		11,810		(6)
Intangible and other assets		(39)		(1,089)
Accounts payable and accrued expenses		(10,127)		(10,877)
Other assets and liabilities		(675)		(291)
Total adjustments		(21,838)		(9,487)
Net cash provided by (used in) operating activities	$	(6,934)	$	(11,779)
Cash flows from investing activities:
Capital expenditures - property, plant and equipment	$	(25)	$	(152)
Proceeds from disposition of assets		-		428
Net cash provided by (used in) investing activities	$	(25)	$	276