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Financing Agreements (Tables)
12 Months Ended
Apr. 30, 2012
Financing Agreements [Abstract]  
Schedule of Debt [Table Text Block]
 
Line of Credit
Mortgage note payable to Commerce Bank
Equipment loan note payable to Commerce Bank
Face amount
$
500,000

$
650,000

$
500,000

Proceeds received

650,000

380,000

Unused borrowing capacity
500,000


120,000

Amount previously repaid

49,000

111,000

Total debt outstanding
$

$
601,000

$
269,000

 
 
 
 
Rate
4.00
%
4.63
%
4.63
%
Maturity date
September 26, 2012

September 26, 2015

September 26, 2015

Monthly payment
$

$
5,038

$
7,123

 
 
 
 
Additional Criteria
Borrowing base limited to 75% of eligible receivables
15 year amortization schedule
Advance rate equal to 80% of the price of the equipment purchased
Schedule of Long-term Debt Instruments [Table Text Block]
 
2012
2011
Mortgage note payable to Commerce Bank, maturing September 2015
$
601,000

$
632,000

Equipment loan note payable to Commerce Bank, maturing September 2015
269,000

340,000

Capital lease obligations
75,000

52,000

 
945,000

1,024,000

Less: Current maturities
150,000

125,000

 
$
795,000

$
899,000

Schedule of Maturities of Long-term Debt [Table Text Block]
Year Ending April 30,
Amount
2013
$
150,000

2014
140,000

2015
123,000

2016
532,000

 
$
945,000