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Liquidity and Capital Resources
6 Months Ended
Oct. 31, 2012
Liquidity and Capital Resources [Abstract]  
Liquidity and Capital Resources [Text Block]

Note 2. Liquidity and Capital Resources

 

Our liquidity needs have typically arisen from the development of our Tumorbank, working capital requirements, and other strategic initiatives. In the past, we have met these cash requirements through our cash and cash equivalents, working capital management, and proceeds from certain private placements of our securities. As of October 31, 2012, we had cash and cash equivalents of $2.2 million and negative net working capital of less than $0.1 million. We believe that our cash and cash equivalents on hand at October 31, 2012 are adequate to fund operations at least through April 30, 2013. The Company is currently exploring financing options to raise additional funds for future operations. There can be no assurance that management will be successful in raising additional capital on terms acceptable to us, if at all. Our ability to successfully complete a raise of capital will depend on the conditions of the capital markets and our financial condition and prospects. Even if we are able to successfully raise additional capital, such capital could be in the form of debt and could be at high interest rates and/or require us to comply with restrictive covenants that limit financial and business activities. In addition, even if we are able to successfully raise equity capital, this could dilute the interest of existing shareholders and/or be issued with preferential liquidation, dividend or voting rights to those currently held by our common stockholders.