Note 10 - Prepaid Expenses and Other Current Assets	9 Months Ended
Jan. 31, 2014
Notes
Note 10 - Prepaid Expenses and Other Current Assets	NOTE 10 - PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets at January 31, 2014 and April 30, 2013 totaled $1,300,365 and $1,189,416, respectively. As of January 31, 2014, prepaid expenses and other current assets includes $929,656 of prepayments to suppliers for merchandise that had not been shipped to us and services that had not been provided to us; $178,274 for employee advances and a $192,435 deposit for renewing land use rights. During the third quarter of fiscal 2013, Qufu Shengwang paid Qufu Public Auction Center $608,920 as deposit for renewing the land use right. The deposit is required for the Center to do the appraisal of the land use right. In the fourth quarter of fiscal 2013 and in the third quarter of fiscal 2014, we received a refund of this deposit of $388,631 and $27,854, respectively. As of April 30, 2013, prepaid expenses and other current assets includes $718,437 of prepayments to suppliers for merchandise that had not been shipped to us and services that had not been provided to us; $159,149 for employee advances; $95,413 of prepaid VAT and a $216,417 in a deposit for renewing land use rights.

Note 10 - Prepaid Expenses and Other Current Assets

9 Months Ended

Jan. 31, 2014

Note 10 - Prepaid Expenses and Other Current Assets

NOTE 10 - PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets at January 31, 2014 and April 30, 2013 totaled $1,300,365 and $1,189,416, respectively. As of January 31, 2014, prepaid expenses and other current assets includes $929,656 of prepayments to suppliers for merchandise that had not been shipped to us and services that had not been provided to us; $178,274 for employee advances and a $192,435 deposit for renewing land use rights. During the third quarter of fiscal 2013, Qufu Shengwang paid Qufu Public Auction Center $608,920 as deposit for renewing the land use right. The deposit is required for the Center to do the appraisal of the land use right. In the fourth quarter of fiscal 2013 and in the third quarter of fiscal 2014, we received a refund of this deposit of $388,631 and $27,854, respectively.

As of April 30, 2013, prepaid expenses and other current assets includes $718,437 of prepayments to suppliers for merchandise that had not been shipped to us and services that had not been provided to us; $159,149 for employee advances; $95,413 of prepaid VAT and a $216,417 in a deposit for renewing land use rights.