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Financing Agreements (Tables)
6 Months Ended
Oct. 31, 2013
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

99,000

224,000

Total debt outstanding
$

$
551,000

$
156,000

 
 
 
 
Rate
4.00
%
4.63
%
4.63
%
Maturity date
September 27, 2014

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