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Property and Equipment

6 Months Ended

Oct. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 3. Property and Equipment

Property and equipment is recorded at cost and consists of laboratory equipment, furniture and fixtures, and computer hardware and software. Depreciation is calculated on a straight-line basis over the estimated useful lives of the various assets ranging from three to seven years. Property and equipment consisted of the following:

	October 31,			April 30,
	2011			2011
(Dollars in Thousands)
Furniture and fixtures	$	52		$	10
Computer equipment and software		217			119
Laboratory equipment		100			56
Leasehold improvements		2			2
Software in-progress		-			24

Total property and equipment		371			211
Less: Accumulated depreciation		(114	)		(65	)

Property and equipment, net	$	257		$	146

Depreciation expense was $21,000 and $10,000 for the three months ended October 31, 2011 and 2010, respectively, and $49,000 and $20,000 for the six months ended October 31, 2011 and 2010, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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