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Annual report pursuant to Section 13 and 15(d)

Nature of Operations and Liquidity (Tables)

v2.4.0.8
Nature of Operations and Liquidity (Tables)
12 Months Ended
Apr. 30, 2014
Nature of Operations and Liquidity [Abstract]  
Schedule of Discontinued Operations

The following table shows the results of the "Smart Home Integration Certificate" program component included in the income (loss) from discontinued operations:


                                 

 

 

For the year

 

 

For the year

 

 

 

 

 

 

 

 

 

ended

 

 

ended

 

 

For the

 

 

 

April 30,

 

 

December 31,

 

 

Four Months Ended April 30,

 

 

 

2014

 

 

2012

 

 

2013

 

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

  

 

 

 

 

 

 

 

 

 

 

  

Revenues

 

$

549,125

 

 

$

2,332,283

 

 

$

140,732

 

 

$

1,077,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Instructional costs and services

 

 

494,213

 

 

 

2,026,928

 

 

 

126,659

 

 

 

929,362

 

General and administrative

 

 

(29,751

)

 

 

169,045

 

 

 

126,000

 

 

 

-

 

Total costs and expenses

 

 

464,462

 

 

 

2,195,973

 

 

 

252,659

 

 

 

929,362

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations, net of income taxes

 

$

84,663

 

 

$

136,310

 

 

$

(111,927

)

 

$

148,513

 


The major classes of assets and liabilities of discontinued operations on the balance sheet are as follows:


                 

 

 

April 30,

 

 

April 30,

 

 

 

2014

 

 

2013

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

-

 

 

$

-

 

Accounts receivable, net of allowance of $481,531 and $295,045, respectively

 

 

5,250

 

 

 

113,822

 

Other current assets

 

 

-

 

 

 

-

 

Net assets from discontinued operations

 

$

5,250

 

 

$

113,822

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

$

-

 

 

$

1,178

 

Accrued expenses

 

 

-

 

 

 

70,201

 

Deferred revenue

 

 

-

 

 

 

53,125

 

Net liabilities from discontinued operations

 

$

-

 

 

$

124,504