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Organization, Use of Estimates and Basis of Presentation (Tables)
9 Months Ended 12 Months Ended
Jan. 31, 2016
Apr. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
 
 
Three Months Ended
January 31,
 
Nine Months Ended
January 31,
  
 
2016
 
2015
 
2016
 
2015
Basic loss per share computation
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Net loss attributable to common stockholders
 
$
(2,412,381
 
$
(2,816,465
 
$
(7,872,115
 
$
(9,462,281
Weighted Average common shares – basic
 
 
8,702,237
 
 
 
5,574,447
 
 
 
8,702,237
 
 
 
5,574,244
 
Basic net loss per share
 
$
(0.28
 
$
(0.51
 
$
(0.90
 
$
(1.70
Diluted loss per share computation
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Net loss attributable to common stockholders
 
$
(2,412,381
 
$
(2,816,465
 
$
(7,872,115
 
$
(9,462,281
Less: Gain on derivative warrant liability
 
 
 
 
 
620,687
 
 
 
 
 
 
1,401,314
 
Loss available to common stockholders
 
$
(2,412,381
 
$
(3,437,152
 
$
(7,872,115
 
$
(10,863,595
Weighted Average common shares
 
 
8,702,237
 
 
 
5,574,447
 
 
 
8,702,237
 
 
 
5,574,244
 
Incremental shares from assumed exercise of warrants and stock options
 
 
 
 
 
29,351
 
 
 
 
 
 
29,351
 
Adjusted weighted average share – diluted
 
 
8,702,237
 
 
 
5,603,798
 
 
 
8,702,237
 
 
 
5,603,595
 
Diluted net loss per share
 
$
(0.28
 
$
(0.61
 
$
(0.90
 
$
(1.94
 
 
Year Ended April 30,
 
 
 
2015
 
2014
 
Basic loss per share computation
 
 
 
 
 
 
 
Net loss attributable to common stockholders
 
$
(13,139,820)
 
$
(7,406,367)
 
Weighted Average common shares – basic
 
 
5,985,346
 
 
5,571,993
 
Basic net loss per share
 
$
(2.20)
 
$
(1.33)
 
 
 
 
 
 
 
 
 
Diluted loss per share computation
 
 
 
 
 
 
 
Net loss attributable to common stockholders
 
$
(13,139,820)
 
$
(7,406,367)
 
Less: Gain on derivative warrant liability
 
 
980,519
 
 
 
Loss available to common stockholders
 
$
(14,120,339)
 
$
(7,406,367)
 
 
 
 
 
 
 
 
 
Weighted Average common shares
 
 
5,985,346
 
 
5,571,993
 
Incremental shares from assumed exercise of warrants and stock options
 
 
439,065
 
 
 
Adjusted weighted average share – diluted
 
 
6,424,410
 
 
5,571,993
 
 
 
 
 
 
 
 
 
Diluted net loss per share
 
$
(2.20)
 
$
(1.33)
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
The following table reflects the total potential share-based instruments outstanding at January 31, 2016 and 2015 that could have an effect on the future computation of dilution per common share:
 
 
 
January 31,
  
 
2016
 
2015
Stock options
 
 
2,212,571
 
 
 
1,999,167
 
Warrants
 
 
2,109,840
 
 
 
260,556
 
Total common stock equivalents
 
 
4,322,411
 
 
 
2,259,723
 
The following table reflects the total potential share-based instruments outstanding at April 30, 2015 and 2014 that could have an effect on the future computation of dilution per common share:
 
 
 
Year Ended April 30,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
 
 
Stock options
 
 
2,004,002
 
 
1,945,920
 
Warrants
 
 
2,109,840
 
 
273,056
 
 
 
 
 
 
 
 
 
Total common stock equivalents
 
 
4,113,842
 
 
2,218,975