Related Party Transactions

3 Months Ended

Jul. 31, 2012

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

Note 6. Related Party Transactions

Related party transactions include transactions between the Company and its shareholders, management, and affiliates.  The following transactions were in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the parties.

Consulting Services

During the three months ended July 31, 2012 and 2011, the Company paid one of its directors and former Chief Executive Officer, $30,000 and $18,000, respectively, in consulting fees.  During the three months ended July 31, 2012 and 2011, the Company paid certain members of its Board of Directors $48,000 and $16,000, respectively, for consulting services unrelated to their duties as board members.  During the three months ended July 31, 2012, there were no expenses incurred from any substantial stockholders of the Company. During the three months ended July 31, 2011, the Company incurred $4,000 in expenses from a substantial stockholder of the Company for consulting fees.

Revenue

During the three months ended July 31, 2012, there were no revenues recognized from companies whose board members were also members of the Company’s Board of Directors. During the three months ended July 31, 2011, the Company recognized $20,000 in revenues from companies whose board members were also members of the Company’s Board of Directors.