XML 38 R44.htm IDEA: XBRL DOCUMENT v2.4.0.6
Investments (Schedule of Long-term Investments) (Details) (USD $)
3 Months Ended 9 Months Ended 9 Months Ended 3 Months Ended
Jan. 25, 2013
Jul. 27, 2012
Jan. 27, 2012
Jan. 25, 2013
Jan. 27, 2012
Apr. 27, 2012
Jan. 25, 2013
Neuro Vista Corporation [Member]
Oct. 26, 2011
Im Thera Medical Inc [Member]
Oct. 26, 2012
Cerbomed GmbH [Member]
Investment [Line Items]                  
Available-for-sale convertible debt security $ 1,450,000 [1]     $ 1,450,000 [1]   $ 5,508,768 [1]      
Cost method equity securities 6,588,200 [2]     6,588,200 [2]   4,000,000 [2]   4,000,000  
Carrying amount - long-term investments 8,038,200     8,038,200   9,508,768      
Interest rate of securities (in Percent)       6.00%          
Impairment of investment in NeuroVista 0 4,508,768 0 4,058,768 0        
Investment in convertible preferred stock       $ 2,588,200 $ 4,000,000       $ 2,588,200
Debt Instrument, Maturity Date             May 01, 2013    
[1] The available-for-sale convertible debt security was issued by NeuroVista Corporation (“NeuroVista”). NeuroVista is a privately-held company focused on the development of an implantable device that is intended to inform patients when seizures are likely to occur, as well as to alert caregivers when seizures do occur. Under its terms, this debt matures in May 2013, unless earlier converted to stock. The interest rate on this debt is 6%, which is payable at maturity or convertible to stock. Cumulative interest was included in the carrying value of the investment as of April 27, 2012. During the quarter ended July 27, 2012, we recorded an other-than-temporary impairment loss of $4,508,768 based on our determination that the fair value of the investment was below the carrying value. Refer to “Note 17. Fair Value Measurements” for further details regarding this security, its fair value assessment and the impairment loss recorded.
[2] In October 2011, we invested $4.0 million in the convertible preferred stock of ImThera Medical, Inc. (“ImThera”). ImThera is a privately-held company focused on the development of a neurostimulation device system for the treatment of obstructive sleep apnea. In September 2012, we invested $2,588,200 in the preferred stock of Cerbomed GmbH (“Cerbomed”). Cerbomed is a privately-held German company focused on developing a transcutaneous vagus nerve stimulation device for the treatment of epilepsy. Neither of these investments provided us significant influence over the entity involved. See “Note 17. Fair Value Measurements” for further details.