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Quarterly report pursuant to sections 13 or 15(d)

Nature of Operations and Liquidity (Tables)

v2.4.0.8
Nature of Operations and Liquidity (Tables)
9 Months Ended
Jan. 31, 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

 

 

For the

 

 

 

Three Months Ended

January 31,

 

 

Nine Months Ended

January 31,

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

-

 

 

$

202,571

 

 

$

549,125

 

 

$

1,290,508

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Instructional costs and services

 

 

-

 

 

 

182,794

 

 

 

494,21 3

 

 

 

1,130,556

 

General and administrative

 

 

(29,751

)

 

 

170,000

 

 

 

(29,751

)

 

 

170,000

 

Total costs and expenses

 

 

(29,751

)

 

 

352,794

 

 

 

464,462

 

 

 

1,300,556

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

29,751

 

 

$

(150,223

)

 

$

84,663

 

 

$

(10,048

)


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


                 

 

 

January 31,

 

 

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

 

$

11,475

 

 

$

1,178

 

Accrued expenses

 

 

-

 

 

 

70,201

 

Deferred revenue

 

 

-

 

 

 

53,125

 

Net liabilities from discontinued operations

 

$

11,475

 

 

$

124,504