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Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.5.0.2
Income Taxes (Tables)
 12 Months Ended
Apr. 30, 2016
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense (Benefit)
    For the Years Ended  
    April 30,  
    2016     2015  
Current:            
Federal   $ —     $ —  
State     —       —  
      —       —  
Deferred:                
Federal     —       —  
State     —       —  
      —       —  
Total Income tax expense (benefit)   $ —     $ —  
Schedule of Deferred Income Tax Assets and Liabilities
    April 30,  
    2016     2015  
Deferred tax assets:            
Net operating loss   $ 8,271,894     $ 7,487,076  
Allowance for doubtful accounts     26,793       21,416  
Intangible assets     249,099       304,062  
Deferred rent     11,678       2,872  
Stock-based compensation     694,900       580,672  
Contributions carryforward     93       93  
Total deferred tax assets     9,254,457       8,396,191  
                 
Deferred tax liabilities:                
Property and equipment     (185,683 )     (155,991 )
Total deferred tax liabilities     (185,683 )     (155,991 )
                 
Deferred tax assets, net     9,068,774       8,240,200  
                 
Valuation allowance:                
Beginning of year     (8,240,200 )     (6,664,215 )
(Increase) during period     (828,574 )     (1,575,985 )
Ending balance     (9,068,774 )     (8,240,200 )
                 
Net deferred tax asset   $ —     $ —  
Schedule of Income Tax Reconciliation
    April 30,  
    2016     2015  
Statutory U.S. federal income tax rate     34.0 %     34.0 %
State income taxes, net of federal tax benefit     3.0       3.0  
Other     (0.1 )     (0.1 )
Change in valuation allowance     (36.9 )     (36.9 )
Effective income tax rate     0.0 %     0.0 %