| Schedule of Deferred Income Tax Assets and Liabilities |
Significant components of the Company's deferred income tax assets and liabilities are as follows:
|
|
|
|
|
|
|
|
|
|
|
April 30,
|
|
|
|
2018
|
|
|
2017
|
|
|
Deferred tax assets:
|
|
|
|
|
|
|
|
Net operating loss
|
|
$
|
7,163,547
|
|
|
$
|
8,626,748
|
|
|
Allowance for doubtful accounts (recovery)
|
|
|
105,122
|
|
|
|
(20,029
|
|
|
Intangible assets
|
|
|
(6,573
|
)
|
|
|
201,942
|
|
|
Deferred rent
|
|
|
20,574
|
|
|
|
16,911
|
|
|
Stock-based compensation
|
|
|
687,067
|
|
|
|
820,257
|
|
|
Contributions carryforward
|
|
|
60
|
|
|
|
93
|
|
|
Total deferred tax assets
|
|
|
7,969,797
|
|
|
|
9,645,922
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities:
|
|
|
|
|
|
|
|
|
|
Property and equipment
|
|
|
(132,042
|
)
|
|
|
(174,260
|
)
|
|
Total deferred tax liabilities
|
|
|
(132,042
|
)
|
|
|
(174,260
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax assets, net
|
|
|
7,837,755
|
|
|
|
9,471,662
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation allowance:
|
|
|
|
|
|
|
|
|
|
Beginning of year
|
|
|
(9,471,662
|
)
|
|
|
(9,068,774
|
)
|
|
Decrease (increase) during period
|
|
|
1,633,907
|
|
|
|
(402,888
|
)
|
|
Ending balance
|
|
|
(7,837,755
|
)
|
|
|
(9,471,662
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Net deferred tax asset
|
|
$
|
—
|
|
|
$
|
—
|
|
| Schedule of Income Tax Reconciliation |
A reconciliation of income tax computed at the U.S. statutory rate to the effective income tax rate is as follows:
|
|
|
|
|
|
|
|
|
|
|
April 30,
|
|
|
|
2018
|
|
|
2017
|
|
|
Statutory U.S. federal income tax rate
|
|
|
34.0
|
%
|
|
|
34.0
|
%
|
|
State income taxes, net of federal tax benefit
|
|
|
3.0
|
|
|
|
3.0
|
|
|
Other
|
|
|
(0.9
|
)
|
|
|
(0.5
|
)
|
|
Effect of change in federal tax rates
|
|
|
(13.0
|
)
|
|
|
—
|
|
|
Change in valuation allowance
|
|
|
(23.1
|
)
|
|
|
(36.5
|
)
|
|
Effective income tax rate
|
|
|
0.0
|
%
|
|
|
0.0
|
%
|
|