Share-Based Payments (Tables)

3 Months Ended

Jul. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

Stock-based compensation expense was recognized as follows (in thousands):

	Three Months Ended July 31,
	2014	2013
General and administrative	543	419
Sales and marketing	154	63
Research and development	105	13
TOS cost of sales	2	8
POS cost of sales	4	49
Total stock-based compensation expense	808	552

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Black-Scholes assumptions used to calculate the fair value of options granted during the three months ended July 31, 2014 and 2013 were as follows (in thousands):

	Three Months Ended July 31,
	2014	2013
Expected term in years	2.5 - 6	6.0
Risk-free interest rates	0.95% to 2.24%	1.38% to 1.91%
Volatility	94.08% to 102.5%	96.4% to 100.6%
Dividend yield	0%	0%

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The Company’s stock options activity for the three months ended July 31, 2014 is as follows:

						Weighted
				Weighted		Average
		Directors		Average		Remaining	Aggregate
	Non-	and		Exercise		Contractual	Intrinsic
	Employees	Employees	Total	Price		Life (Years)	Value
Outstanding, May 1, 2014	765,000	22,586,037	23,351,037	$	1.01	7.5	$	985,000
Granted	80,000	135,000	215,000		1.01
Forfeited	-	(11,250)	(11,250)		0.49
Expired	(150,000)	(22,500)	(172,500)		1.12
Outstanding, July 31, 2014	695,000	22,687,287	23,382,287		1.01	7.3	$	739,000
Vested and expected to vest as of July 31, 2014	695,000	22,687,287	23,382,287		1.01	7.3	$	739,000
Exercisable as of July 31, 2014	396,042	14,299,785	14,695,827		0.88	6.2	$	701,000

Schedule Of Share Based Compensation Warrants Activity [Table Text Block]

Activity related to these warrants, which expire at various dates through April 2016, is summarized as follows (dollars in thousands):

					Weighted
			Weighted		Average
	Number		Average		Remaining		Aggregate
	of		Exercise		Contractual		Intrinsic
	Shares		Price		Life (Years)		Value
Outstanding, May 1, 2014		3,276,667	$	0.61		2.9	$	984,333
Granted		-		-		-		-
Exercised		-		-		-		-
Expired		-		-		-		-
Outstanding, July 31, 2014		3,276,667	$	0.61		2.6	$	921,800

Schedule Of Share Based Payment Award Stock Warrants Valuation Assumptions [Table Text Block]

The fair value of these warrants was calculated by the Monte Carlo simulation valuation method. Assumptions used to calculate the fair value of these warrants were as follows:

	July 31,		April 30,
	2014		2014
Expected term in years		1.7 - 3.5		1.9 - 3.7
Risk-free interest rates		0.57%- 1.23%		0.4%- 1.17%
Volatility		92.9%- 107.2%		95%- 113%
Dividend yield		0%		0%