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Financing Agreements (Tables)
9 Months Ended
Jan. 31, 2015
Financing Agreements [Abstract]  
Schedule of Debt [Table Text Block]
 
Line of Credit
Mortgage note payable to Commerce Bank
First Equipment loan note payable to Commerce Bank
Second Equipment loan note payable to Commerce Bank
Proceeds received
$

$
542,000

$
380,000

$
100,000

Amount previously repaid

37,000

323,000

17,000

Total debt outstanding
$

$
505,000

$
57,000

$
83,000

 
 
 
 
 
Rate
4.00
%
4.05
%
4.63
%
4.25
%
Maturity date
September 27, 2015

January 27, 2019

September 26, 2015

May 27, 2018

Monthly payment
$

$
4,873

$
7,123

$
2,269

 
 
 
 
 
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
Advance rate equal to 80% of the price of the equipment purchased