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Share-Based Payments (Tables)
9 Months Ended 12 Months Ended
Jan. 31, 2016
Apr. 30, 2015
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 (table in thousands):
 
 
Three Months Ended
January 31,
 
Nine Months Ended
January 31,
  
 
2016
 
2015
 
2016
 
2015
General and administrative
 
$
488
 
 
$
474
 
 
$
1,600
 
 
$
1,530
 
Sales and marketing
 
 
27
 
 
 
114
 
 
 
173
 
 
 
447
 
Research and development
 
 
49
 
 
 
65
 
 
 
262
 
 
 
267
 
TOS cost of sales
 
 
2
 
 
 
2
 
 
 
28
 
 
 
20
 
POS cost of sales
 
 
1
 
 
 
2
 
 
 
27
 
 
 
20
 
Total stock-based compensation expense
 
$
567
 
 
$
657
 
 
$
2,090
 
 
$
2,284
 
Stock-based compensation costs were recorded as follows (in thousands):
 
 
Year Ended April 30,
  
 
2015
 
2014
General and administrative
 
$
2,204
 
 
$
2,298
 
Sales and marketing
 
 
561
 
 
 
352
 
Research and development
 
 
352
 
 
 
36
 
TOS cost of sales
 
 
23
 
 
 
56
 
POS cost of sales
 
 
22
 
 
 
65
 
Total stock-based compensation expense
 
$
3,162
 
 
$
2,807
 
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 and nine months ended January 31, 2016 and 2015 were as follows:
 
 
Three Months Ended
January 31,
 
Nine Months Ended
January 31,
  
 
2016
 
2015
 
2016
 
2015
Expected term in years
 
 
2.5 –  6
 
 
 
 
 
 
2.5 – 6
 
 
 
3 – 6
 
Risk-free interest rates
 
 
0.995% – 1.75%
 
 
 
 
 
 
0.995% – 1.77%
 
 
 
0.79% – 1.94%
 
Volatility
 
 
82.72% – 91.98%
 
 
 
 
 
 
82.72% – 92.32%
 
 
 
85.8% – 102.1%
 
Dividend yield
 
 
0%
 
 
 
 
 
 
0%
 
 
 
0%
 

Black-Scholes assumptions used to calculate the fair value of options granted during the years ended April 30, 2015 and 2014 were as follows:
 
 
Year Ended April 30,
  
 
2015
 
2014
Expected term in years
 
 
2.5 – 6.0
 
 
 
3.0 – 6.0
 
Risk-free interest rates
 
 
0.8% – 1.9%
 
 
 
0.7% – 2.4%
 
Volatility
 
 
86% – 102%
 
 
 
84% – 102%
 
Dividend yield
 
 
0%
 
 
 
0%
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The Company’s stock options activity for the nine months ended January 31, 2016 was as follows:
 
 
 
Non-
Employees
 
Directors
and
Employees
 
Total
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Outstanding, May 1, 2015
 
 
57,917
 
 
 
1,946,085
 
 
 
2,004,002
 
 
$
5.74
 
 
 
6.7
 
 
$
4,166,000
 
Granted
 
 
 
 
 
331,582
 
 
 
331,582
 
 
 
5.33
 
 
 
8.9
 
 
 
 
Exercised
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
Forfeited
 
 
 
 
 
(38,140
 
 
(38,140
 
 
6.64
 
 
 
  
 
 
 
  
 
Expired
 
 
(6,667
 
 
(78,206
 
 
(84,873
 
 
6.91
 
 
 
 
 
 
 
Outstanding, January 31, 2016
 
 
51,250
 
 
 
2,161,321
 
 
 
2,212,571
 
 
 
5.61
 
 
 
6.4
 
 
$
1,000
 
Vested and expected to vest as of January 31, 2016
 
 
51,250
 
 
 
2,161,321
 
 
 
2,212,571
 
 
 
5.61
 
 
 
6.4
 
 
$
1,000
 
Exercisable as of January 31, 2016
 
 
34,271
 
 
 
1,644,223
 
 
 
1,678,494
 
 
 
5.76
 
 
 
5.8
 
 
$
1,000
 
The Company’s stock options activity and related information as of and for the years ended April 30, 2015 and 2014 is as follows (dollars in thousands):
 
Non- Employees
 
Directors
and Employees
 
Total
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Outstanding, May 1, 2014
 
 
63,750
 
 
 
1,882,170
 
 
 
1,945,920
 
 
$
12.12
 
 
 
7.5
 
 
$
985,000
 
Granted
 
 
6,667
 
 
 
1,756,714
 
 
 
1,763,380
 
 
 
7.92
 
 
 
  
 
 
 
  
 
Exercised
 
 
 
 
 
(313
 
 
(313
 
 
5.88
 
 
 
  
 
 
 
  
 
Canceled
 
 
 
 
 
(1,656,073
 
 
(1,656,073
 
 
12.48
 
 
 
  
 
 
 
  
 
Forfeited
 
 
 
 
 
(12,604
 
 
(12,604
 
 
11.52
 
 
 
  
 
 
 
  
 
Expired
 
 
(12,500
 
 
(23,809
 
 
(36,309
 
 
11.88
 
 
 
 
 
 
 
Outstanding, April 30, 2015
 
 
57,917
 
 
 
1,946,085
 
 
 
2,004,002
 
 
 
5.74
 
 
 
6.7
 
 
$
4,166,000
 
Vested and expected to vest as of April 30, 2015
 
 
57,917
 
 
 
1,946,085
 
 
 
2,004,002
 
 
 
 
 
 
6.7
 
 
$
4,166,000
 
Vested as of April 30, 2015
 
 
40,625
 
 
 
1,385,298
 
 
 
1,425,923
 
 
 
5.88
 
 
 
5.9
 
 
$
2,879,000
 
 
 
Non-
Employees
 
Directors
and
Employees
 
Total
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Outstanding, May 1, 2013
 
 
63,750
 
 
 
1,093,767
 
 
 
1,157,517
 
 
$
10.20
 
 
 
7.0
 
 
$
89,000
 
Granted
 
 
 
 
 
816,111
 
 
 
816,111
 
 
 
14.76
 
 
 
  
 
 
 
  
 
Exercised
 
 
 
 
 
(2,813
 
 
(2,813
 
 
7.56
 
 
 
  
 
 
 
  
 
Canceled
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
Forfeited
 
 
 
 
 
(6,042
 
 
(6,042
 
 
9.84
 
 
 
  
 
 
 
  
 
Expired
 
 
 
 
 
(18,854
 
 
(18,854
 
 
8.76
 
 
 
 
 
 
 
Outstanding, April 30, 2014
 
 
63,750
 
 
 
1,882,170
 
 
 
1,945,920
 
 
 
12.12
 
 
 
7.5
 
 
$
985,000
 
Vested and expected to vest as of April 30, 2014
 
 
63,750
 
 
 
1,882,170
 
 
 
1,945,920
 
 
 
 
 
 
7.5
 
 
$
985,000
 
Vested as of April 30, 2014
 
 
43,524
 
 
 
1,086,857
 
 
 
1,130,381
 
 
 
10.20
 
 
 
6.1
 
 
$
927,000
 
Schedule Of Share Based Compensation Warrants Activity [Table Text Block]
Activity related to these warrants, which expire at various dates through January 2019, is summarized as follows:
 
 
 
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Outstanding, May 1, 2015
 
 
2,109,840
 
 
$
5.54
 
 
 
4.6
 
 
$
3,764,871
 
Granted
 
 
 
 
 
 
 
 
 
 
 
 
Exercised
 
 
 
 
 
 
 
 
 
 
 
 
Expired
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, January 31, 2016
 
 
2,109,840
 
 
$
5.54
 
 
 
3.9
 
 
$
 
Activity related to these warrants, which expire at various dates through January 2019, is summarized as follows (dollars in thousands):
 
 
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Outstanding, May 1, 2014
 
 
273,056
 
 
$
7.32
 
 
 
2.9
 
 
$
984,333
 
Granted
 
 
1,849,285
 
 
 
5.64
 
 
 
4.9
 
 
 
3,108,271
 
Exercised
 
 
 
 
 
 
 
 
 
 
 
 
Forfeited
 
 
 
 
 
 
 
 
 
 
 
 
Expired
 
 
(12,500
 
 
 
 
 
 
 
 
 
Outstanding, April 30, 2015
 
 
2,109,840
 
 
$
5.82
 
 
 
4.6
 
 
$
3,247,604
 
 
 
 
 
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Outstanding, May 1, 2013
 
 
273,056
 
 
$
7.32
 
 
 
3.9
 
 
$
 
Granted
 
 
 
 
 
 
 
 
 
 
 
 
Exercised
 
 
 
 
 
 
 
 
 
 
 
 
Forfeited
 
 
 
 
 
 
 
 
 
 
 
 
Expired
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, April 30, 2014
 
 
273,056
 
 
$
7.32
 
 
 
2.9
 
 
$
984,333