Ayro (AYRO) 10-Q 15 Dec 16 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Oct. 31, 2016	Dec. 12, 2016
Document Information [Line Items]
Entity Registrant Name	WPCS INTERNATIONAL INC
Entity Central Index Key	1,086,745
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--04-30
Entity Filer Category	Smaller Reporting Company
Trading Symbol	WPCS
Entity Common Stock, Shares Outstanding		2,888,659

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Current assets:
Cash and cash equivalents	$ 2,070,388	$ 2,235,597
Accounts receivable, net of allowance of $92,000	3,211,144	2,886,154
Costs and estimated earnings in excess of billings on uncompleted contracts	729,618	357,210
Prepaid expenses and other current assets	113,164	66,256
Total current assets	6,124,314	5,545,217
Property and equipment, net	358,230	237,800
Other assets	19,163	21,162
Total assets	6,501,707	5,804,179
Current liabilities:
Current portion of loans payable	58,139	53,996
Accounts payable and accrued expenses	2,215,242	2,071,765
Billings in excess of costs and estimated earnings on uncompleted contracts	1,730,996	1,358,289
Total current liabilities	4,004,377	3,484,050
Loans payable, net of current portion	111,305	94,825
Total liabilities	4,115,682	3,578,875
Commitments and contingencies
Stockholders' equity
Preferred stock
Common stock - $0.0001 par value, 100,000,000 shares authorized, 2,868,659 and 2,691,055 shares issued and outstanding as of October 31, 2016 and April 30, 2016, respectively	287	269
Additional paid-in capital	86,219,242	85,940,389
Accumulated deficit	(84,702,444)	(84,820,940)
Total stockholders' equity	2,386,025	2,225,304
Total liabilities and equity	6,501,707	5,804,179
Convertible Series H [Member]
Stockholders' equity
Preferred stock	186,812	406,262
Convertible Series H-1 [Member]
Stockholders' equity
Preferred stock	$ 682,128	$ 699,324

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Allowance for accounts receivable	$ 92,000
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	2,868,659	2,691,055
Common stock, shares outstanding	2,868,659	2,691,055
Convertible Series H [Member]
Preferred stock, shares authorized	8,500
Preferred stock, shares issued	1,213	2,638
Preferred Stock, Shares Outstanding	1,213	2,638
Preferred Stock, liquidation preference (in dollars)	$ 187,000	$ 187,000
Convertible Series H-1 [Member]
Preferred stock, shares authorized	9,488
Preferred stock, shares issued	7,919	8,119
Preferred Stock, Shares Outstanding	7,919	8,119
Preferred Stock, liquidation preference (in dollars)	$ 1,315,000	$ 1,315,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Revenue	$ 4,847,710	$ 3,824,241	$ 8,264,163	$ 8,288,244
Costs and expenses:
Cost of revenue	3,819,187	3,294,565	6,454,695	6,741,768
Selling, general and administrative expenses	1,567,326	2,555,206	2,920,312	3,868,009
Depreciation and amortization	28,029	14,493	48,695	29,462
Costs and expenses	5,414,542	5,864,264	9,423,702	10,639,239
Operating loss	(566,832)	(2,040,023)	(1,159,539)	(2,350,995)
Other income (expense):
Interest expense	(1,029)	(606)	(3,010)	(1,498)
Income from Section 16 settlement	0	0	0	400,000
Income from arbitration settlements	30,902	0	1,180,902	0
Other income (expense)	117,947	0	122,434	(2,906)
(Loss) income from continuing operations before income tax provision	(419,012)	(2,040,629)	140,787	(1,955,399)
Income tax provision	(51)	0	2,567	1,099
(Loss) income from continuing operations	(418,961)	(2,040,629)	138,220	(1,956,498)
Discontinued operations:
Income from discontinued operations	0	0	0	41,261
Gain from disposal	0	837,720	0	837,720
Consolidated net (loss) income	(418,961)	(1,202,909)	138,220	(1,077,517)
Net income attributable to noncontrolling interest	0	0	0	16,505
Net (loss) income attributable to WPCS	(418,961)	(1,202,909)	138,220	(1,094,022)
Dividends declared on preferred stock	0	(782,837)	0	(4,369,958)
Deemed dividend on convertible preferred stock, due to beneficial conversion feature	(19,724)	0	(19,724)	(703,770)
Net (loss) income attributable to WPCS common shareholders	$ (438,685)	$ (1,985,746)	$ 118,496	$ (6,167,750)
Basic (loss) income from continuing operations per common share	$ (0.15)	$ (1.17)	$ 0.04	$ (3.62)
Basic income from discontinued operations per common share	0	0	0	0.01
Basic gain from disposal	0	0.35	0	0.43
Basic income from discontinued operations per common share	0	0.35	0	0.44
Diluted (loss) income from continuing operations per common share	(0.15)	(1.17)	0.03	(3.62)
Diluted income from discontinued operations per common share	0	0	0	0.01
Diluted gain from disposal	0	0.35	0	0.43
Diluted income from discontinued operations per common share	$ 0	$ 0.35	$ 0	$ 0.44
Weighted average shares outstanding - basic	2,854,230	2,415,113	2,777,817	1,942,681
Weighted average shares outstanding - diluted	2,854,230	2,415,113	3,790,800	1,942,681

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Consolidated net (loss) income	$ (418,961)	$ (1,202,909)	$ 138,220	$ (1,077,517)
Reclassification adjustments of other comprehensive loss on the sale of China operations	0	(349,723)	0	(349,723)
Comprehensive (loss) income attributable to WPCS shareholders	$ (418,961)	$ (1,552,632)	$ 138,220	$ (1,427,240)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - 6 months ended Oct. 31, 2016 - USD ($)	Total	Series H Preferred Stock [Member]	Series H-1 Preferred Convertible Stock [Member]	Series H-1 Preferred Stock [Member]	Preferred Stock [Member]	Preferred Stock [Member]Series H Preferred Stock [Member]	Preferred Stock [Member]Series H-1 Preferred Convertible Stock [Member]	Preferred Stock [Member]Series H-1 Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]Series H Preferred Stock [Member]	Common Stock [Member]Series H-1 Preferred Convertible Stock [Member]	Common Stock [Member]Series H-1 Preferred Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Series H Preferred Stock [Member]	Additional Paid-in Capital [Member]Series H-1 Preferred Convertible Stock [Member]	Additional Paid-in Capital [Member]Series H-1 Preferred Stock [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]Series H Preferred Stock [Member]	Accumulated Deficit [Member]Series H-1 Preferred Convertible Stock [Member]	Accumulated Deficit [Member]Series H-1 Preferred Stock [Member]
Balance at Apr. 30, 2016	$ 2,225,304				$ 1,105,586				$ 269				$ 85,940,389				$ (84,820,940)
Balance (in shares) at Apr. 30, 2016					10,757				2,691,055
Conversion of Series preferred stock to common stock		$ 0		$ 0		$ (219,450)		$ (36,920)		$ 14		$ 2		$ 219,436		$ 36,918		$ 0		$ 0
Conversion of Series preferred stock to common stock (in shares)						(1,425)		(200)		142,500		20,000
Share based compensation	22,501				$ 0				$ 2				22,499				0
Share based compensation (in shares)					0				15,104
Deemed dividend on conversion of Series H-1 convertible preferred stock to common stock			$ 0				$ 19,724				$ 0				$ 0				$ (19,724)
Net income	138,220				$ 0				$ 0				0				138,220
Balance at Oct. 31, 2016	$ 2,386,025				$ 868,940				$ 287				$ 86,219,242				$ (84,702,444)
Balance (in shares) at Oct. 31, 2016					9,132				2,868,659

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Operating activities:
Net income (loss) from operations	$ 138,220	$ (1,956,498)
Consolidated net income from discontinued operations	0	878,981
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:
Depreciation and amortization	48,695	14,969
Shares based compensation	22,501	1,540,181
Gain on sale of China operations	0	(837,720)
Income on Section 16 settlement	0	(400,000)
Changes in operating assets and liabilities:
Accounts receivable	(324,990)	2,407,532
Costs and estimated earnings in excess of billings on uncompleted contracts	(372,408)	(165,287)
Current assets held for sale	0	(3,853,621)
Prepaid expenses and other current assets	(46,908)	92,677
Other assets	1,999	0
Other assets held for sale	0	(34,523)
Accounts payable and accrued expenses	143,477	(2,653,981)
Current liabilities held for sale	0	2,200,030
Billings in excess of costs and estimated earnings on uncompleted contracts	372,707	203,039
Net cash used in operating activities	(16,707)	(2,564,221)
Investing activities:
Acquisition of property and equipment	(96,475)	0
Proceeds from sale of China operations, net of acquisition cost	0	1,325,744
Net cash (used in) provided by investing activities	(96,475)	1,325,744
Financing activities:
Proceeds from issuance of Series H-1 preferred stock and warrants	0	1,575,000
Borrowings under loan payable obligations	0	7,762
Repayment under loan payable obligations	(52,027)	(10,837)
Repayments under other payable to Zurich	0	(270,000)
Repayments of short term convertible note	0	(4,000)
Net cash (used in) provided by financing activities	(52,027)	1,297,925
Effect of exchange rate changes on cash	0	91,510
Net (decrease) increase in cash and cash equivalents	(165,209)	150,958
Cash and cash equivalents, beginning of the period	2,235,597	2,364,360
Cash and cash equivalents, end of the period	2,070,388	2,515,318
Schedule of non-cash investing and financing activities:
Automobile financing	72,650	0
Declaration on preferred dividend payable	0	4,369,958
Conversion of dividends payable related to make-whole amount to common stock	0	4,104,529
Deemed dividend on conversion of Series H-1 convertible preferred stock to common stock	19,724	703,770
Series F-1 Preferred Stock [Member]
Schedule of non-cash investing and financing activities:
Conversion of dividends payable related to make-whole amount to common stock	0	624,977
Series G-1 Preferred Stock [Member]
Schedule of non-cash investing and financing activities:
Conversion of dividends payable related to make-whole amount to common stock	0	212,113
Series F And F1 Preferred Stock [Member]
Schedule of non-cash investing and financing activities:
Conversion of preferred stock through the issuance of common stock	0	3,292,741
Series G And G1 Preferred Stock [Member]
Schedule of non-cash investing and financing activities:
Conversion of preferred stock through the issuance of common stock	0	1,351,722
Series H Preferred Stock [Member]
Schedule of non-cash investing and financing activities:
Conversion of short term convertible note to Series H preferred stock	0	1,299,000
Conversion of preferred stock through the issuance of common stock	219,450	865,018
Series H-1 Preferred Stock [Member]
Schedule of non-cash investing and financing activities:
Conversion of preferred stock through the issuance of common stock	36,920	0
Deemed dividend on conversion of Series H-1 convertible preferred stock to common stock	$ 19,724	$ 0

DESCRIPTION OF THE BUSINESS AND

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Oct. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	NOTE 1 – DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION Description of the Business The Company currently specializes in low voltage communications, audio-visual and security contracting services, conducting business in one segment at three operation centers, through its wholly-owned domestic subsidiaries, WPCS International - Suisun City, Inc. (“Suisun City Operations”) and WPCS International - Texas Operations, Inc. (“Texas Operations”). The Company is a full-service low voltage contractor that specializes in the installation and service of Voice & Data Networks, Security Systems, Audio-Visual Solutions, and Distributed Antenna Systems and provides experienced project management and delivers complex projects to key vertical markets that include Healthcare, Education, Transportation, Energy & Utilities, Oil & Gas, Manufacturing, Commercial Real Estate, Financial, Government, etc. The Company also has strategic alliances with technology partners to provide consulting and application software development services for collaboration, visualization and unified communications and is aligned with major manufacturers to provide the products and technology for seamless integrated and enhanced user experience for enterprise solutions. Basis of Presentation The condensed consolidated financial statements of WPCS International Incorporated, a Delaware corporation (“WPCS”) and its wholly and majority-owned subsidiaries, (collectively, the “Company”) included in this Report for the three and six months ended October 31, 2016 and 2015, reflect the accounts of current and former entities as either continued or discontinued operations, as discussed below. Continuing operations for the three and six months ended October 31, 2016 and 2015 include the results of operations of: (i) WPCS International Incorporated (corporate operating expenses); (ii) Suisun City Operations and the Texas Operations, the Company’s only two active operating subsidiaries; (iii) WPCS Incorporated, an inactive subsidiary; and (iv) WPCS International – Trenton, Inc. (“Trenton Operations”), which operations were closed in September 2013. Discontinued operations for the three and six months ended October 31, 2015 include the results of WPCS Asia Limited, a 60 The unaudited condensed consolidated financial information furnished herein reflects all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, considered necessary for a fair presentation of the financial position and the results of operations and cash flows of the Company for the periods presented. All intercompany accounts and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. These interim condensed consolidated financial statements should be read in conjunction with the financial statements included in the Annual Report on Form 10-K for the fiscal year ended April 30, 2016. The results of operations for the three and six months ended October 31, 2016 are not necessarily indicative of the results to be expected for the full fiscal year.

LIQUIDITY AND CAPITAL RESOURCES

LIQUIDITY AND CAPITAL RESOURCES	6 Months Ended
	Oct. 31, 2016
Liquidity and Capital Resources [Abstract]
LIQUIDITY AND CAPITAL RESOURCES	NOTE 2 – LIQUIDITY AND CAPITAL RESOURCES As of October 31, 2016, the Company had a working capital surplus of approximately $ 2,120,000 2,061,000 The Company’s cash and cash equivalents balance at October 31, 2016 was $ 2,070,000 2,236,000 The Company's future plans and growth are dependent on its ability to increase revenues and continue its business development efforts surrounding its contract award backlog. If the Company continues to incur losses and revenues do not generate from the backlog as expected, the Company may need to raise additional capital to expand its business and continue as a going concern. The Company currently anticipates that its current cash position will be sufficient to meet its working capital requirements to continue its sales and marketing efforts for at least 12 months from the filing date of this report. If in the future the Company’s plans or assumptions change or prove to be inaccurate, the Company may need to raise additional funds through public or private debt or equity offerings, financings, corporate collaborations, or other means. The Company may also be required to reduce operating expenditures or investments in its infrastructure.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Form 10-K for the year ended April 30, 2016. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230). This amendment will provide guidance on the presentation and classification of specific cash flow items to improve consistency within the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2017, with early adoption permitted. The Company is evaluating the effect that ASU 2016-15 will have on its financial statements and related disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”) that changes the presentation of restricted cash and cash equivalents on the statement of cash flows. Restricted cash and restricted cash equivalents will be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This amendment is effective for the Company in the fiscal year beginning October 1, 2018, but early adoption is permissible. The Company is currently evaluating the potential impact that ASU 2016-18 may have on its financial position and statement of cash flows. Accounting standards that have been issued or proposed by the Financial Accounting Standards Board (“FASB”), Securities and Exchange Commission (“SEC”) or other standard setting bodies that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. Certain reclassifications have been made in prior years’ condensed consolidated financial statements to conform to the current year’s presentation. These reclassifications reflect the results of the China Operations as discontinued operations for all periods presented.

CONCENTRATIONS

CONCENTRATIONS	6 Months Ended
	Oct. 31, 2016
Risks and Uncertainties [Abstract]
CONCENTRATIONS	NOTE 4 – CONCENTRATIONS Accounts Receivable As of October 31, April 30, Customer A 19 % 22 % Customer B 14 % - Customer C 10 % 11 % Customer D - 37 % The accounts receivable also included retainage receivable of $ 431,000 326,000 Revenue Recognition For the three months ended For the six months ended October 31, October 31, 2016 2015 2016 2015 Customer A 14 % 25 % 10 % 23 % Customer B - - - 11 % Customer C 11 % - - -

BASIC AND DILUTED NET (LOSS) IN

BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE	6 Months Ended
	Oct. 31, 2016
Earnings Per Share [Abstract]
BASIC AND DILUTED NET LOSS PER COMMON SHARE	NOTE 5 – BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE Basic and diluted net income (loss) per common share from continuing operations is computed as net income (loss) from continuing operations less non-controlling interest and dividends on preferred stock, divided by the weighted average number of common shares outstanding for the period. For the three months ended For the six months ended October 31, October 31, 2016 2015 2016 2015 Numerator: (Loss) income from continuing operations attributable to WPCS common shareholders $ (438,685) $ (2,823,466) $ 118,496 $ (7,030,226) Income from discontinued operations, basic and diluted - 837,720 - 862,476 Net (loss) income attributable to WPCS common shareholders, basic and diluted $ (438,685) $ (1,985,746) $ 118,496 $ (6,167,750) Denominator: Weighted average shares outstanding - basic 2,854,230 2,415,113 2,777,817 1,942,681 Stock options - - 99,783 - Series H and H-1 convertible preferred stock - - 913,200 - Weighted average shares outstanding - diluted 2,854,230 2,415,113 3,790,800 1,942,681 Basic (loss) income from continuing operations per common share $ (0.15) $ (1.17) $ 0.04 $ (3.62) Basic income from discontinued operations per common share - 0.35 - 0.44 Basic (loss) income per common share $ (0.15) $ (0.82) $ 0.04 $ (3.18) Diluted (loss) income from continuing operations per common share $ (0.15) $ (1.17) $ 0.03 $ (3.62) Diluted income from discontinued operations per common share - 0.35 - 0.44 Diluted (loss) income per common share $ (0.15) $ (0.82) $ 0.03 $ (3.18) As of October 31, 2016 2015 Common stock equivalents: Common stock options 852,000 2,724,000 Series G and G-1 preferred stock - 76,000 Series H and H-1 preferred stock 913,000 1,135,000 Make-whole on preferred shares - 21,000 Common stock purchase warrants 1,295,000 1,295,000 Totals 3,060,000 5,251,000

COSTS AND ESTIMATED EARNINGS ON

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS	6 Months Ended
	Oct. 31, 2016
Contractors [Abstract]
COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS	NOTE 6 – COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS Costs and estimated earnings in excess of billings on uncompleted contracts represents revenue recognized in excess of amounts billed. The liability, “Billings in excess of costs and estimated earnings on uncompleted contracts”, represents billings in excess of revenue recognized. Costs and estimated earnings on uncompleted contracts consist of the following at October 31, 2016 and April 30, 2016: October 31, 2016 April 30, 2016 Costs incurred on uncompleted contracts $ 14,244,659 $ 28,884,776 Estimated contract earnings 2,994,143 4,367,463 17,238,802 33,252,239 Less: Billings to date 18,240,180 34,253,725 Total $ (1,001,378) $ (1,001,486) Costs and estimated earnings in excess of billings on uncompleted contracts $ 729,618 $ 357,014 Billings in excess of cost and estimated earnings on uncompleted contracts 1,730,996 1,358,500 Total $ (1,001,378) $ (1,001,486) Revisions in the estimated gross profits on contracts and contract amounts are made in the period in which circumstances requiring the revisions become known. Although management believes it has established adequate procedures for estimating costs to complete on open contracts, it is at least reasonably possible that additional significant costs could occur on contracts prior to completion.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Oct. 31, 2016
Discontinued Operations
DISCONTINUED OPERATIONS	NOTE 7 – DISCONTINUED OPERATIONS The Company previously disclosed the details regarding the sales of its China Operations in its Form 10-K filed for the year ended April 30, 2016. The schedule below shows the results of discontinued operations from China for the three and six months ended October 31, 2016 and 2015. For the three months ended For the six months ended October 31, October 31, 2016 2015 2016 2015 Revenue $ - $ - $ - $ 839,969 Costs and expenses: Cost of revenue - - - 546,296 Selling, general and administrative expenses - - - 111,324 Depreciation and amortization - - - 80,971 - - - 738,591 Operating income from discontinued operations - - - 101,378 Interest expense - - - (49,234) Income from discontinued operations before income tax provision - - - 52,144 Income tax provision - - - (10,883) Income from discontinued operations, net of tax - - - 41,261 Gain from disposal 837,720 - 837,720 Total income from discontinued operations $ - $ 837,720 $ - $ 878,981 Due Related Party As of October 31, 2016 and April 30, 2016, the China Operations had outstanding payables, representing interest accrued on working capital loans and cash provided for the purpose of retiring the short term bank loan in the amounts of $ 0 0 The China Operations earned revenue for contracting services provided to TGG (noncontrolling interest in China Operations) and subsidiaries of $ 0 0

INCOME FROM SECTION 16 SETTLEME

INCOME FROM SECTION 16 SETTLEMENT	6 Months Ended
	Oct. 31, 2016
Income From Section Sixteen Settlements [Abstract]
INCOME FROM SECTION 16 SETTEMENTS	NOTE 8 – INCOME FROM SECTION 16 SETTLEMENT For the three and six months ended October 31, 2016, the Company received no income from Section 16 settlements. For the same periods in 2015, the Company received $ 0

BANK LINE OF CREDIT

BANK LINE OF CREDIT	6 Months Ended
	Oct. 31, 2016
Line of Credit Facility [Abstract]
BANK LINE OF CREDIT	NOTE 9 – BANK LINE OF CREDIT On May 20, 2015 1,000,000 August 15, 2017 2 As of the filing date of this report, the Company has not drawn down on the line of credit.

LOANS PAYABLE

LOANS PAYABLE	6 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
LOANS PAYABLE	NOTE 10 – LOANS PAYABLE Carrying Value Stated as of Estimated Future Payment Maturity Date Interest Rate October 31, 2016 Within 1 Year After 1 year 0% automobile loan payable April 2018 - June 2019 0.0% $ 30,000 $ 13,000 $ 17,000 4% automobile loan payable December 2016 - January 2020 4.0% 39,000 21,000 18,000 5% automobile loan payable January 2020 - February 2020 5.0% 57,000 16,000 41,000 7% automobile loan payable June 2019 7.0% 26,000 5,000 21,000 8% automobile loan payable October 2021 8.0% 17,000 3,000 14,000 $ 169,000 $ 58,000 $ 111,000 Carrying Value Stated as of Estimated Future Payment Maturity Date Interest Rate April 30, 2016 Within 1 Year After 1 year 0% automobile loan payable April 2018 - May 2019 0.0% $ 25,000 $ 10,000 $ 15,000 4% automobile loan payable August 2016 - January 2020 4.0% 58,000 28,000 30,000 5% automobile loan payable January 2020 - February 2020 5.0% 66,000 16,000 50,000 $ 149,000 $ 54,000 $ 95,000

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Oct. 31, 2016
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 11 – STOCKHOLDERS’ EQUITY Conversion of Preferred Shares On August 1, 2015, the Company entered into an engagement letter with an investment bank to provide investment advisory services for a period of twelve (12) months, which may be extended by mutual consent of the parties. The Company agreed to pay a $ 7,500 15,104 22,501 The Company did not renew this agreement beyond the July 31, 2016 termination date. On August 4, 2016, the Company issued 142,500 1,425 On September 14, 2016, the Company issued 20,000 200

INCOME FROM ARBITRATION SETTLEM

INCOME FROM ARBITRATION SETTLEMENTS	6 Months Ended
	Oct. 31, 2016
Income From Legal Settlements [Abstract]
INCOME FROM ARBITRATION SETTLEMENTS	NOTE 12 – INCOME FROM ARBITRATION SETTLEMENTS On June 16, 2016, the Company entered into a global settlement agreement and mutual release to resolve all disputes and claims regarding the construction of the Cooper Medical School at Rowan University, located in Camden, New Jersey, in which the Company served as an electrical prime contractor. As a result of such settlement, the Company received proceeds of $ 1,150,000 six months ended October 31, 2016. The Cooper Medical School contract was performed under the electrical services segment and is no longer part of the Company’s ongoing operation. During the quarter ended October 31, 2016 the Company settled an outstanding contract claim for $ 30,000

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Oct. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 13 – SUBSEQUENT EVENTS On November 18, 2016, the Company issued 20,000 200 On December 13, 2016, the Company received a letter alleging the Company had breached a non-disclosure agreement with Collaboration Solutions, Inc. (“CSI”) by hiring two former employees of CSI and assisting such former employees with violating non-competition agreements and misappropriating trade secrets. CSI is seeking payment of $1,500,000 to settle such claims. The Company does not believe the allegations in the letter have any merit, and if any actual litigation is commenced, intends to aggressively defend against all such claims that might arise once actual litigation commences. Notwithstanding the monetary demand set forth in the letter, the extent of the Company’s potential liability in this matter has not yet been determined

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Form 10-K for the year ended April 30, 2016.
Recently Issued Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230). This amendment will provide guidance on the presentation and classification of specific cash flow items to improve consistency within the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2017, with early adoption permitted. The Company is evaluating the effect that ASU 2016-15 will have on its financial statements and related disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”) that changes the presentation of restricted cash and cash equivalents on the statement of cash flows. Restricted cash and restricted cash equivalents will be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This amendment is effective for the Company in the fiscal year beginning October 1, 2018, but early adoption is permissible. The Company is currently evaluating the potential impact that ASU 2016-18 may have on its financial position and statement of cash flows. Accounting standards that have been issued or proposed by the Financial Accounting Standards Board (“FASB”), Securities and Exchange Commission (“SEC”) or other standard setting bodies that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption.
Reclassifications	Reclassifications Certain reclassifications have been made in prior years’ condensed consolidated financial statements to conform to the current year’s presentation. These reclassifications reflect the results of the China Operations as discontinued operations for all periods presented.

CONCENTRATIONS (Tables)

CONCENTRATIONS (Tables)	6 Months Ended
	Oct. 31, 2016
Sales Revenue, Net [Member]
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	The concentration of revenue recognition for the three and six months ended October 31, 2016 and 2015, respectively are as follows: For the three months ended For the six months ended October 31, October 31, 2016 2015 2016 2015 Customer A 14 % 25 % 10 % 23 % Customer B - - - 11 % Customer C 11 % - - -
Accounts Receivable [Member]
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	The concentration of accounts receivable as of October 31, 2016 and April 30, 2016, respectively are as follows: As of October 31, April 30, Customer A 19 % 22 % Customer B 14 % - Customer C 10 % 11 % Customer D - 37 %

BASIC AND DILUTED NET (LOSS) 23

BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE (Tables)	6 Months Ended
	Oct. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Diluted net income per common share reflects the potential dilution that could occur from common stock issuable through the exercise of stock options and warrants and note conversions. For the three months ended For the six months ended October 31, October 31, 2016 2015 2016 2015 Numerator: (Loss) income from continuing operations attributable to WPCS common shareholders $ (438,685) $ (2,823,466) $ 118,496 $ (7,030,226) Income from discontinued operations, basic and diluted - 837,720 - 862,476 Net (loss) income attributable to WPCS common shareholders, basic and diluted $ (438,685) $ (1,985,746) $ 118,496 $ (6,167,750) Denominator: Weighted average shares outstanding - basic 2,854,230 2,415,113 2,777,817 1,942,681 Stock options - - 99,783 - Series H and H-1 convertible preferred stock - - 913,200 - Weighted average shares outstanding - diluted 2,854,230 2,415,113 3,790,800 1,942,681 Basic (loss) income from continuing operations per common share $ (0.15) $ (1.17) $ 0.04 $ (3.62) Basic income from discontinued operations per common share - 0.35 - 0.44 Basic (loss) income per common share $ (0.15) $ (0.82) $ 0.04 $ (3.18) Diluted (loss) income from continuing operations per common share $ (0.15) $ (1.17) $ 0.03 $ (3.62) Diluted income from discontinued operations per common share - 0.35 - 0.44 Diluted (loss) income per common share $ (0.15) $ (0.82) $ 0.03 $ (3.18)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities were excluded from the weighted average dilutive common shares outstanding because their inclusion would have been antidilutive. As of October 31, 2016 2015 Common stock equivalents: Common stock options 852,000 2,724,000 Series G and G-1 preferred stock - 76,000 Series H and H-1 preferred stock 913,000 1,135,000 Make-whole on preferred shares - 21,000 Common stock purchase warrants 1,295,000 1,295,000 Totals 3,060,000 5,251,000

COSTS AND ESTIMATED EARNINGS 24

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS (Tables)	6 Months Ended
	Oct. 31, 2016
Contractors [Abstract]
Schedule of Costs and Estimated Earnings on Uncompleted Contracts	Costs and estimated earnings on uncompleted contracts consist of the following at October 31, 2016 and April 30, 2016: October 31, 2016 April 30, 2016 Costs incurred on uncompleted contracts $ 14,244,659 $ 28,884,776 Estimated contract earnings 2,994,143 4,367,463 17,238,802 33,252,239 Less: Billings to date 18,240,180 34,253,725 Total $ (1,001,378) $ (1,001,486) Costs and estimated earnings in excess of billings on uncompleted contracts $ 729,618 $ 357,014 Billings in excess of cost and estimated earnings on uncompleted contracts 1,730,996 1,358,500 Total $ (1,001,378) $ (1,001,486)

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Oct. 31, 2016
Discontinued Operations
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement	The schedule below shows the results of discontinued operations from China for the three and six months ended October 31, 2016 and 2015. For the three months ended For the six months ended October 31, October 31, 2016 2015 2016 2015 Revenue $ - $ - $ - $ 839,969 Costs and expenses: Cost of revenue - - - 546,296 Selling, general and administrative expenses - - - 111,324 Depreciation and amortization - - - 80,971 - - - 738,591 Operating income from discontinued operations - - - 101,378 Interest expense - - - (49,234) Income from discontinued operations before income tax provision - - - 52,144 Income tax provision - - - (10,883) Income from discontinued operations, net of tax - - - 41,261 Gain from disposal 837,720 - 837,720 Total income from discontinued operations $ - $ 837,720 $ - $ 878,981

LOANS PAYABLE (Tables)

LOANS PAYABLE (Tables)	6 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	The following tables summarize outstanding loans payable related to automobile as of October 31, 2016 and April 30, 2016, respectively: Carrying Value Stated as of Estimated Future Payment Maturity Date Interest Rate October 31, 2016 Within 1 Year After 1 year 0% automobile loan payable April 2018 - June 2019 0.0% $ 30,000 $ 13,000 $ 17,000 4% automobile loan payable December 2016 - January 2020 4.0% 39,000 21,000 18,000 5% automobile loan payable January 2020 - February 2020 5.0% 57,000 16,000 41,000 7% automobile loan payable June 2019 7.0% 26,000 5,000 21,000 8% automobile loan payable October 2021 8.0% 17,000 3,000 14,000 $ 169,000 $ 58,000 $ 111,000 Carrying Value Stated as of Estimated Future Payment Maturity Date Interest Rate April 30, 2016 Within 1 Year After 1 year 0% automobile loan payable April 2018 - May 2019 0.0% $ 25,000 $ 10,000 $ 15,000 4% automobile loan payable August 2016 - January 2020 4.0% 58,000 28,000 30,000 5% automobile loan payable January 2020 - February 2020 5.0% 66,000 16,000 50,000 $ 149,000 $ 54,000 $ 95,000

DESCRIPTION OF THE BUSINESS A27

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Details Textual)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage Of International Operation	0.00%	60.00%	0.00%	60.00%

LIQUIDITY AND CAPITAL RESOURC28

LIQUIDITY AND CAPITAL RESOURCES (Details Textual) - USD ($)	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015	Apr. 30, 2015
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Working Capital Surplus	$ 2,120,000	$ 2,061,000
Cash and Cash Equivalents, at Carrying Value, Total	$ 2,070,388	$ 2,235,597	$ 2,515,318	$ 2,364,360

CONCENTRATIONS (Details)

CONCENTRATIONS (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016
Customer A Concetration Risk [Member] | Sales Revenue, Net [Member]
Debt Instrument [Line Items]
Concentration Risk, Percentage	14.00%	25.00%	10.00%	23.00%
Customer A Concetration Risk [Member] | Accounts Receivable [Member]
Debt Instrument [Line Items]
Concentration Risk, Percentage	19.00%				22.00%
Customer B Concetration Risk [Member] | Sales Revenue, Net [Member]
Debt Instrument [Line Items]
Concentration Risk, Percentage	0.00%	0.00%	0.00%	11.00%
Customer B Concetration Risk [Member] | Accounts Receivable [Member]
Debt Instrument [Line Items]
Concentration Risk, Percentage	14.00%				0.00%
Customer C Concetration Risk [Member] | Sales Revenue, Net [Member]
Debt Instrument [Line Items]
Concentration Risk, Percentage	11.00%	0.00%	0.00%	0.00%
Customer C Concetration Risk [Member] | Accounts Receivable [Member]
Debt Instrument [Line Items]
Concentration Risk, Percentage	10.00%				11.00%
Customer D Concetration Risk [Member] | Accounts Receivable [Member]
Debt Instrument [Line Items]
Concentration Risk, Percentage	0.00%				37.00%

CONCENTRATIONS (Details Textual

CONCENTRATIONS (Details Textual) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Concentration Risk [Line Items]
Contract Receivable Retainage, Total	$ 431,000	$ 326,000

BASIC AND DILUTED NET (LOSS) 31

BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Numerator:
(Loss) income from continuing operations attributable to WPCS common shareholders	$ (438,685)	$ (2,823,466)	$ 118,496	$ (7,030,226)
Income from discontinued operations, basic and diluted	0	837,720	0	(878,981)
Net (loss) income attributable to WPCS common shareholders, basic and diluted	$ (438,685)	$ (1,985,746)	$ 118,496	$ (6,167,750)
Denominator:
Weighted average shares outstanding - basic	2,854,230	2,415,113	2,777,817	1,942,681
Stock options	0	0	99,783	0
Series H and H-1 convertible preferred stock	0	0	913,200	0
Weighted average shares outstanding - diluted	2,854,230	2,415,113	3,790,800	1,942,681
Basic (loss) income from continuing operations per common share	$ (0.15)	$ (1.17)	$ 0.04	$ (3.62)
Basic income from discontinued operations per common share	0	0.35	0	0.44
Basic (loss) income per common share	(0.15)	(0.82)	0.04	(3.18)
Diluted (loss) income from continuing operations per common share	(0.15)	(1.17)	0.03	(3.62)
Diluted income from discontinued operations per common share	0	0.35	0	0.44
Diluted (loss) income per common share	$ (0.15)	$ (0.82)	$ 0.03	$ (3.18)

BASIC AND DILUTED NET (LOSS) 32

BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE (Details 1) - shares	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,060,000	5,251,000
Common stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	852,000	2,724,000
Make-whole on preferred shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	21,000
Common stock purchase warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,295,000	1,295,000
Series G and G1 Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	76,000
Series H and H1 Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	913,000	1,135,000

COSTS AND ESTIMATED EARNINGS 33

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS (Details) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Costs incurred on uncompleted contracts	$ 14,244,659	$ 28,884,776
Estimated contract earnings	2,994,143	4,367,463
Gross Total	17,238,802	33,252,239
Less: Billings to date	18,240,180	34,253,725
Total	(1,001,378)	(1,001,486)
Costs and estimated earnings in excess of billings on uncompleted contracts	729,618	357,210
Billings in excess of cost and estimated earnings on uncompleted contracts	1,730,996	1,358,289
Total	$ (1,001,378)	$ (1,001,486)

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Revenue	$ 0	$ 0	$ 0	$ 839,969
Costs and expenses:
Cost of revenue	0	0	0	546,296
Selling, general and administrative expenses	0	0	0	111,324
Depreciation and amortization	0	0	0	80,971
Disposal Group, Including Discontinued Operation, Operating Expense	0	0	0	738,591
Operating income from discontinued operations	0	0	0	101,378
Interest expense	0	0	0	(49,234)
Income from discontinued operations before income tax provision	0	0	0	52,144
Income tax provision	0	0	0	(10,883)
Income from discontinued operations, net of tax	0	0	0	41,261
Gain from disposal	0	837,720	0	837,720
Total income from discontinued operations	$ 0	$ 837,720	$ 0	$ 878,981

DISCONTINUED OPERATIONS (Deta35

DISCONTINUED OPERATIONS (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Revenue	$ 0	$ 0	$ 0	$ 839,969
China Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current	0		0		$ 0
Disposal Group, Including Discontinued Operation, Revenue	$ 0	$ 0	$ 0	$ 212,000

INCOME FROM SECTION 16 SETTLE36

INCOME FROM SECTION 16 SETTLEMENT (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Income From Section Sixteen Settlements [Line Items]
Proceeds from Legal Settlements	$ 0	$ 0	$ 0	$ 400,000

BANK LINE OF CREDIT (Details Te

BANK LINE OF CREDIT (Details Textual)	1 Months Ended
	May 20, 2015USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Expiration Date	Aug. 15, 2017
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Proceeds from Lines of Credit	$ 1,000,000
Line of Credit Facility, Initiation Date	May 20, 2015
Line of Credit Facility, Interest Rate During Period	2.00%

LOANS PAYABLE (Details)

LOANS PAYABLE (Details) - USD ($)	6 Months Ended	12 Months Ended
	Oct. 31, 2016	Apr. 30, 2016
Debt Instrument [Line Items]
Carrying Value	$ 169,000	$ 149,000
Estimated Future Payment Within 1 Year	58,000	54,000
Estimated Future Payment After 1 year	$ 111,000	$ 95,000
0% automobile loan payable [Member]
Debt Instrument [Line Items]
Maturity Date	April 2018 - June 2019	April 2018 - May 2019
Stated Interest Rate	0.00%	0.00%
Carrying Value	$ 30,000	$ 25,000
Estimated Future Payment Within 1 Year	13,000	10,000
Estimated Future Payment After 1 year	$ 17,000	$ 15,000
4% automobile loan payable [Member]
Debt Instrument [Line Items]
Maturity Date	December 2016 - January 2020	August 2016 - January 2020
Stated Interest Rate	4.00%	4.00%
Carrying Value	$ 39,000	$ 58,000
Estimated Future Payment Within 1 Year	21,000	28,000
Estimated Future Payment After 1 year	$ 18,000	$ 30,000
5% automobile loan payable [Member]
Debt Instrument [Line Items]
Maturity Date	January 2020 - February 2020	January 2020 - February 2020
Stated Interest Rate	5.00%	5.00%
Carrying Value	$ 57,000	$ 66,000
Estimated Future Payment Within 1 Year	16,000	16,000
Estimated Future Payment After 1 year	$ 41,000	$ 50,000
7% automobile loan payable [Member]
Debt Instrument [Line Items]
Maturity Date	June 2,019
Stated Interest Rate	7.00%
Carrying Value	$ 26,000
Estimated Future Payment Within 1 Year	5,000
Estimated Future Payment After 1 year	$ 21,000
8% automobile loan payable [Member]
Debt Instrument [Line Items]
Maturity Date	October 2,021
Stated Interest Rate	8.00%
Carrying Value	$ 17,000
Estimated Future Payment Within 1 Year	3,000
Estimated Future Payment After 1 year	$ 14,000

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	Sep. 14, 2016	Aug. 04, 2016	Jul. 31, 2016	Oct. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Monthly Fee To Investment Bank Payable In Shares Of Common Stock				$ 7,500
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion	20,000	142,500
Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Value, Conversion of Convertible Securities			$ 22,501
Stock Issued During Period, Shares, Conversion of Convertible Securities			15,104
Series H Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of Stock, Shares Converted		1,425
Series H-1 Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of Stock, Shares Converted	200

INCOME FROM ARBITRATION SETTL40

INCOME FROM ARBITRATION SETTLEMENTS (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 16, 2016	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Proceeds from Legal Settlements		$ 0	$ 0	$ 0	$ 400,000
Litigation Settlement, Amount		$ 30,000
Cooper Medical School [Member]
Proceeds from Legal Settlements	$ 1,150,000

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)	Dec. 13, 2016	Sep. 14, 2016	Nov. 18, 2016	Oct. 31, 2016	Aug. 04, 2016
Subsequent Event [Line Items]
Litigation Settlement, Amount				$ 30,000
Common Stock [Member]
Subsequent Event [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion		20,000			142,500
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion			20,000
Series H-1 Preferred Stock [Member]
Subsequent Event [Line Items]
Conversion of Stock, Shares Converted		200
Series H-1 Preferred Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Conversion of Stock, Shares Converted			200
Collaboration Solutions Inc [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Litigation Settlement, Amount	$ 1,500,000