Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Apr. 30, 2017 | Jul. 07, 2017 | Oct. 31, 2016 | |
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Apr. 30, 2017 | ||
Trading Symbol | cpah | ||
Entity Registrant Name | COUNTERPATH CORP | ||
Entity Central Index Key | 1,236,997 | ||
Current Fiscal Year End Date | --04-30 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 4,946,568 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Public Float | $ 5,410,324 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Apr. 30, 2017 | Apr. 30, 2016 |
Current assets: | ||
Cash | $ 2,071,019 | $ 2,159,738 |
Accounts receivable (net of allowance for doubtful accounts of $80,232 (2016 - $547,173)) | 2,133,469 | 3,209,279 |
Prepaid expenses and deposits | 170,853 | 184,644 |
Total current assets | 4,375,341 | 5,553,661 |
Deposits | 91,400 | 93,868 |
Equipment | 125,813 | 142,563 |
Goodwill | 6,440,955 | 7,001,228 |
Other assets | 199,637 | 174,811 |
Total Assets | 11,233,146 | 12,966,131 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 1,825,528 | 1,943,108 |
Unearned revenue | 2,134,948 | 1,808,857 |
Customer deposits | 6,211 | 2,384 |
Accrued warranty | 54,365 | 61,356 |
Total current liabilities | 4,021,052 | 3,815,705 |
Deferred lease inducements | 23,022 | 35,379 |
Unrecognized tax benefit | 9,763 | 10,563 |
Total liabilities | 4,053,837 | 3,861,647 |
Stockholders' equity: | ||
Preferred stock, $0.001 par value Authorized: 100,000,000 Issued and outstanding: April 30, 2017 - nil; April 30, 2016 - nil | 0 | 0 |
Common stock, $0.001 par value - Authorized: 100,000,000 Issued: April 30, 2017 - 5,005,245; April 30, 2016 - 4,542,348 | 5,005 | 4,542 |
Treasury stock | (60) | 0 |
Additional paid-in capital | 71,680,575 | 70,065,082 |
Accumulated deficit | (60,481,015) | (58,022,500) |
Accumulated other comprehensive income (loss) - currency translation adjustment | (4,025,196) | (2,942,640) |
Total stockholders' equity | 7,179,309 | 9,104,484 |
Liabilities and Stockholders' Equity | $ 11,233,146 | $ 12,966,131 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) | Apr. 30, 2017 | Apr. 30, 2016 |
Allowance for Doubtful Accounts Receivable, Current | $ 80,232 | $ 547,173 |
Preferred Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 5,005,245 | 4,542,348 |
Common Stock, Shares, Outstanding | 5,005,245 | 4,542,348 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Revenue | ||
Software | $ 5,449,140 | $ 6,031,618 |
Subscription, support and maintenance | 3,909,326 | 3,435,797 |
Professional services and other | 1,327,124 | 1,613,943 |
Total revenue | 10,685,590 | 11,081,358 |
Operating expenses: | ||
Cost of sales (includes depreciation of $6,559 (2016 - $7,225)) | 1,729,930 | 1,667,087 |
Sales and marketing | 3,831,438 | 4,145,351 |
Research and development | 4,843,813 | 4,737,055 |
General and administrative | 3,234,026 | 3,373,674 |
Total operating expenses | 13,639,207 | 13,923,167 |
Loss from operations | (2,953,617) | (2,841,809) |
Interest and other income (expense), net | ||
Interest and other income | 173 | 5,211 |
Interest expense | (3,056) | (2,310) |
Foreign exchange gain | 497,985 | 195,003 |
Fair value adjustment on derivative instruments | 0 | (47,690) |
Net loss for the year | $ (2,458,515) | $ (2,691,595) |
Net loss per share: | ||
Basic | $ (0.52) | $ (0.61) |
Diluted | $ (0.52) | $ (0.61) |
Weighted average common shares outstanding: | ||
Basic | 4,722,724 | 4,433,402 |
Diluted | 4,722,724 | 4,433,402 |
CONSOLIDATED STATEMENTS OF OPE5
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Depreciation | $ 6,559 | $ 7,225 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Net loss for the year | $ (2,458,515) | $ (2,691,595) |
Other comprehensive loss: | ||
Foreign currency translation adjustments | (1,082,556) | (550,468) |
Comprehensive loss | $ (3,541,071) | $ (3,242,063) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Cash flows from operating activities: | ||
Net loss for the year | $ (2,458,515) | $ (2,691,595) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Deferred lease inducements | (9,861) | (9,882) |
Depreciation and amortization | 113,880 | 199,335 |
Foreign exchange (gain) loss | (562,102) | (248,371) |
Stock-based compensation | 835,918 | 906,914 |
Issuance of common stock for services | 13,963 | 38,783 |
Changes in assets and liabilities: | ||
Accounts payable and accrued liabilities | (46,381) | (314,804) |
Accounts receivable | 1,075,810 | 96,187 |
Accrued warranty | (6,991) | (11,761) |
Customer deposits | (567) | 2,384 |
Deferred lease inducements | 0 | 0 |
Prepaid expenses and deposits | 16,023 | (14,884) |
Other assets | 0 | 0 |
Unearned revenue | 326,091 | (58,129) |
Net cash used in operating activities | (702,732) | (2,105,823) |
Cash flows from investing activities: | ||
Purchase of equipment | (99,939) | (27,692) |
Purchase of intangibles | (28,302) | (13,739) |
Net cash used in investing activities | (128,241) | (41,431) |
Cash flows from financing activities: | ||
Common stock issued | 898,693 | 1,520,574 |
Common stock repurchased | (132,678) | (38,882) |
Net cash used in by financing activities | 766,015 | 1,481,692 |
Foreign exchange effect on cash | (23,761) | (27,122) |
Decrease in cash | (88,719) | (692,684) |
Cash, beginning of the year | 2,159,738 | 2,852,422 |
Cash, end of the year | 2,071,019 | 2,159,738 |
Supplemental disclosure of cash flow information Cash paid for: | ||
Interest | 3,056 | 2,310 |
Taxes | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY - USD ($) | Common Shares [Member] | Treasury Shares [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Beginning Balance at Apr. 30, 2015 | $ 4,233 | $ (1) | $ 67,638,003 | $ (55,330,905) | $ (2,392,172) | $ 9,919,158 |
Beginning Balance (Shares) at Apr. 30, 2015 | 4,233,395 | (1,200) | ||||
Private placement, net of share issuance costs | $ 293 | 1,441,546 | 1,441,839 | |||
Private placement, net of share issuance costs (Shares) | 293,000 | |||||
Issuance of common stock for services | $ 10 | 38,773 | 38,783 | |||
Issuance of common stock for services (Shares) | 10,000 | |||||
Share repurchase plan | $ (10) | (6,256) | (6,266) | |||
Share repurchase plan (Shares) | (10,460) | |||||
Cancellation of shares | $ (11) | $ 11 | (32,616) | (32,616) | ||
Cancellation of shares (Shares) | (11,260) | 11,260 | ||||
Stock-based compensation | 906,914 | 906,914 | ||||
Employee share purchase program | $ 17 | 78,718 | 78,735 | |||
Employee share purchase program (Shares) | 17,213 | |||||
Net loss for the year | (2,691,595) | (2,691,595) | ||||
Foreign currency translation adjustment | (550,468) | (550,468) | ||||
Ending Balance at Apr. 30, 2016 | $ 4,542 | 70,065,082 | (58,022,500) | (2,942,640) | 9,104,484 | |
Ending Balance (Shares) at Apr. 30, 2016 | 4,542,348 | (400) | ||||
Private placement, net of share issuance costs | $ 454 | 898,239 | 898,693 | |||
Private placement, net of share issuance costs (Shares) | 454,097 | |||||
Issuance of common stock for services | $ 14 | 13,949 | 13,963 | |||
Issuance of common stock for services (Shares) | 13,500 | |||||
Share repurchase plan | $ (65) | (133,417) | (133,482) | |||
Share repurchase plan (Shares) | (64,200) | |||||
Cancellation of shares | $ (5) | $ 5 | 804 | 804 | ||
Cancellation of shares (Shares) | (4,700) | 4,700 | ||||
Stock-based compensation | 835,918 | 835,918 | ||||
Net loss for the year | (2,458,515) | (2,458,515) | ||||
Foreign currency translation adjustment | (1,082,556) | (1,082,556) | ||||
Ending Balance at Apr. 30, 2017 | $ 5,005 | $ (60) | $ 71,680,575 | $ (60,481,015) | $ (4,025,196) | $ 7,179,309 |
Ending Balance (Shares) at Apr. 30, 2017 | 5,005,245 | (59,900) |
Nature of Operations
Nature of Operations | 12 Months Ended |
Apr. 30, 2017 | |
Nature of Operations [Text Block] | Note 1 Nature of Operations CounterPath Corporation (the “Company”) was incorporated in the State of Nevada on April 18, 2003. The shares of the Company’s common stock are quoted for trading on the NASDAQ Capital Market in the United States of America and on the Toronto Stock Exchange in Canada. On August 2, 2007, the Company acquired of all of the shares of NewHeights Software Corporation (“NewHeights”) through the issuance of 768,017 shares of the Company’s common stock and 36,984 preferred shares issued from a subsidiary of the Company exchangeable into 36,984 shares of the Company’s common stock. For accounting purposes, the Company was deemed to be the acquirer of NewHeights based on certain factors including the number of common shares issued in the transaction as a proportion of the total common shares outstanding, and the composition of the board after the transaction. On February 1, 2008, the Company acquired FirstHand Technologies Inc. (“FirstHand”), a private Ontario, Canada corporation, through the issuance of 590,001 shares of the Company’s common stock. For accounting purposes, the Company was deemed to be the acquirer of FirstHand based on certain factors including the number of common shares issued in the transaction as a proportion of the total common shares outstanding, and the composition of the board after the transaction. On February 1, 2008, the Company acquired BridgePort Networks, Inc. (“BridgePort”), a private Delaware corporation, by way of merger in consideration for the assumption of all of the assets and liabilities of BridgePort. For accounting purposes, the Company was deemed to be the acquirer of BridgePort based on certain factors primarily being the composition of the board after the transaction. On February 5, 2008, the Company's wholly-owned subsidiaries, NewHeights and CounterPath Solutions R&D Inc. were amalgamated under the name CounterPath Technologies Inc. On November 1, 2010, the Company's wholly-owned subsidiaries, FirstHand and CounterPath Technologies Inc. were amalgamated under the name CounterPath Technologies Inc. The Company focuses on the design, development, marketing and sales of software applications and related services, such as pre and post sales technical support and customization services, that enable enterprises and telecommunication service providers to deliver Unified Communications (UC) services, including voice, video, messaging and collaboration functionality, over their Internet Protocol, or IP, based networks. The Company’s products are sold either directly or through channel partners, to small, medium and large businesses (“enterprises”) and telecom service providers, in North America, and in Europe, Middle East, Africa (“collectively EMEA”), Asia Pacific and Latin America. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Apr. 30, 2017 | |
Significant Accounting Policies [Text Block] | Note 2 Significant Accounting Policies These consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America and are stated in U.S. dollars except where otherwise disclosed. Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for the period necessarily involves the use of estimates, which have been made using careful judgment. Actual results may vary from these estimates. These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities and commitments in the normal course of business. a) Basis of Presentation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, CounterPath Technologies Inc., a company existing under the laws of the province of British Columbia, Canada, and BridgePort incorporated under the laws of the state of Delaware. The results of NewHeights (which subsequently was amalgamated with another subsidiary to become CounterPath Technologies Inc.) are included from August 2, 2007, the date of acquisition. The results of FirstHand (which subsequently was amalgamated with CounterPath Technologies Inc.) and BridgePort are included from February 1, 2008, the date of acquisition. All inter-company transactions and balances have been eliminated. The Company has experienced flat to declining revenues as a result of a number of factors including its buildout of a cloud based subscription platform concurrent with the change of its licensing model to subscription based licensing and has not reached profitable operations which raises substantial doubt about its ability to continue operating as a going concern within one year of the date of the financial statements. The Company has historically been able to manage liquidity requirements through cost management and cost reduction measures, supplemented with raising additional financing. To alleviate this situation, the Company has plans in place to improve its financial position and liquidity, while executing on its growth strategy, by managing and or reducing costs that is not expected to have an adverse impact on the ability to generate cash flows, as the transition to its software as a service platform and subscription licensing continues. In addition, the Company has historically been able to raise additional financing to assist with the Company’s transition. As of the date of these financial statements, and from the planned cost management and reduction measures, that the Company has sufficient liquidity to meet the ongoing cash requirements of the Company for one year after the issuance date of the financial statements. Therefore, although substantial doubt has been raised, this has been alleviated by management’s plans. b) Significant Accounting Policies Revenue Recognition: The Company recognizes revenue in accordance with the Accounting Standard Codification (“ASC”) 985- 605 “Software Revenue Recognition”. In accordance with these standards, revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collection of the related accounts receivable is deemed probable. In making these judgments, management evaluates these criteria as follows: • Persuasive evidence of an arrangement. • Delivery has occurred. • Fees are fixed or determinable. • Collection is deemed probable. A substantial amount of the Company’s sales involve multiple element arrangements, such as products, support, professional services, and training. When arrangements include multiple elements, the Company allocates the total fee to delivered elements using the residual method when vendor specific objective evidence (VSOE) does not exist for the delivered element. Under the residual method, revenue is recognized when VSOE of fair value exists for all of the undelivered elements of the arrangement, but does not exist for one or more of the delivered elements of the arrangement. Each arrangement requires the Company to analyze the individual elements in the transaction and to estimate the fair value of each undelivered element, which typically represents support services. Revenue is allocated to each of the undelivered elements based on its respective fair value. For contracts with elements related to customized network solutions and certain network build-outs, for transactions accounted for as sales of products or services, we apply Financial Accounting Standards Board (“FASB”) ASC Subtopic 605-25 “Revenue Recognition – Multiple-Element Arrangements” and revenues are recognized under ASC 605-35”Revenue Recognition – Construction type and Production type Contract”, for long-term transactions entered to supply software, or software systems, that require significant modification or customization, generally using the percentage-of-completion method. For multi-element arrangements, the Company allocates revenue to all deliverables based on their selling prices. In such circumstances, the Company uses a hierarchy to determine the selling price to be used for allocating revenue to deliverables: (i) VSOE, (ii) third-party evidence of selling price (“TPE”), and (iii) best estimate of selling price (“ESP”). VSOE generally exists only when the Company sells the deliverable separately and is the price actually charged by the Company for that deliverable. ESPs reflect the Company’s best estimates of what the selling prices of elements would be if they were sold regularly on a stand-alone basis. In using the percentage-of-completion method, revenues are generally recorded based on completion of milestones as described in the agreement. Profit estimates on long-term contracts are revised periodically based on changes in circumstances and any losses on contracts are recognized in the period that such losses become known. Support and maintenance services include e-mail and telephone support, unspecified rights to bug fixes and product updates and upgrades and enhancements available on a when-and-if available basis, and are recognized rateably over the term of the service period, which is generally twelve months. Stock-Based Compensation The Company adopted ASC 718 “Compensation – Stock Compensation”, using the modified prospective method on May 1, 2006. Under this application, the Company is required to record compensation expense, based on the fair value of the awards, for all awards granted after the date of adoption and for the unvested portion of previously granted awards that remain outstanding as at the date of adoption. In accordance with ASC 718, the compensation expense is amortized on a straight-line basis over the requisite service period which approximates the vesting period. Stock options granted to non-employees were accounted for in accordance with ASC 718 and ASC 505-50 “Equity based payments to non-employees” and were measured at the fair value of the options as determined by an option pricing model on the measurement date and compensation expense is amortized over the vesting period or, if none exists, over the service period. With the adoption of ASC 718, the Company has elected to use the Black-Scholes option pricing model to determine the fair value of stock options granted. The Company has estimated the fair value of option awards to employees and non-employees for the years ended April 30, 2017 and April 30, 2016 using the assumptions more fully described in Note 6. Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires the Company’s management to make estimates and assumptions which affect the amounts reported in these consolidated financial statements, the notes thereto, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. Equipment and Amortization: Equipment is recorded at cost. Depreciation is provided for using the straight-line method over the estimated useful lives as follows: Computer hardware Two years Computer software Two years Leasehold improvements Shorter of lease term or estimated economic life Office furniture Five years Website Three years Research and Development: Research and development expense includes costs incurred to develop intellectual property. The costs for the development of new software and substantial enhancements to existing software are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized. Management has determined that technological feasibility is established at the time a working model of software is completed. Because management believes that the current process for developing software will be essentially completed concurrently with the establishment of technological feasibility, no costs have been capitalized to date. Website Development Costs: The Company recognizes the costs associated with developing a website in accordance with ASC Topic 350-40 “Intangibles – Internal Use Software”. Internal and external costs incurred during the preliminary project stage are expensed as they are incurred. Training costs are not internal-use software development costs and, if incurred during this stage, are expensed as incurred. These capitalized costs are amortized based on their estimated useful life over three years. Payroll and other related costs are not capitalized, as the amounts principally relate to maintenance. Accounts Receivable and Allowance for Doubtful Accounts: Accounts receivable are presented net of an allowance for doubtful accounts. Years Ended April 30, 2017 2016 Balance of allowance for doubtful debts, beginning of year $ 547,173 $ 294,719 Bad debt provision 346,689 612,769 Write-off of receivables (813,630 ) (360,315 ) Balance of allowance for doubtful debts, end of year $ 80,232 $ 547,173 The Company determines the allowance for doubtful accounts by considering a number of factors, including the length of time the accounts receivable are beyond the contractual payment terms, previous loss history, and the customer’s current ability to pay its obligation. When the Company becomes aware of a specific customer’s inability to meet its financial obligations to the Company, the Company records a charge to the allowance to reduce the customer’s related accounts. Foreign Currency Translation: The Company’s functional currency is the U.S. dollar. The Company’s wholly-owned subsidiaries with a functional currency other than the U.S. dollar are translated into amounts in the reporting currency, U.S. dollars, in accordance with ASC Topic 830 “Foreign Currency Matters”. Revenues and expenses are translated at the average exchange rate prevailing during the periods. At each balance sheet date, assets and liabilities that are denominated in a currency other than U.S. dollars are adjusted to reflect the current exchange rate which may give rise to a foreign currency translation adjustment accounted for as a separate component of stockholders’ equity and included in comprehensive loss. For transactions undertaken by the Company in foreign currencies, monetary assets and liabilities are translated into the functional currency at the exchange rate in effect at the end of the year. Non-monetary assets and liabilities are translated at the exchange rate prevailing when the assets were acquired or the liabilities assumed. Revenues and expenses are translated at the rate approximating the rate of exchange on the transaction date. Exchange gains and losses are included in the determination of net income (loss) for the year. Accrued Warranty: The Company’s warranty policy generally provides for one year of warranty for its products. The Company records a liability for estimated warranty obligations at the date products are sold. The estimated cost of warranty coverage is based on the Company’s actual historical experience with its current products or similar products. For new products, the required reserve is based on historical experience of similar products until such time as sufficient historical data has been collected on the new product. Estimated liabilities for warranty exposures, which relate to normal product warranties and a one-year obligation to provide for potential future liabilities for product sales for the years ended April 30, 2017 and 2016 were as follows: Years Ended April 30, 2017 2016 Balance, beginning of year $ 61,356 $ 73,117 Usage during the year - - Additions (reductions) during the year (6,991 ) (11,761 ) Balance, end of year $ 54,365 $ 61,356 Trademarks: Costs related to trademark applications have been deferred and are included in other assets. Once granted, trademark costs will be amortized over their useful lives. Fair Value of Financial Instruments: The Company’s financial instruments consist of cash, accounts receivable, accounts payable and accrued liabilities, customer deposits, foreign exchange contracts, and derivative instruments. The fair value of the financial instruments approximate book value. As a basis for considering market participant assumptions in fair value measurements, ASC 820-10 “Fair Value Measurements” establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The fair value hierarchy, as defined by ASC 820-10, contains three levels of inputs that may be used to measure fair value as follows: Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals; and Level 3 inputs are unobservable inputs for the asset or liability which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company’s derivative financial instruments are valued using observable market-based inputs to industry valuation models. These valuation models require a variety of inputs, including contractual terms, market prices, yield curves, and measures of volatility obtained from various market sources. The Company measures certain financial assets, including any foreign currency option or forward contracts at fair value. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. Income Taxes: The Company accounts for income taxes by the asset and liability method in accordance with ASC Topic 740 “Income Taxes”. Under this method, current income taxes are recognized for the estimated income taxes payable for the current year. Deferred income tax assets and liabilities are recognized in the current year for temporary differences between the tax and accounting bases of assets and liabilities as well as for the benefit of losses available to be carried forward to future years for tax purposes that are likely to be realized. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. The Company has not recorded a deferred tax liability related to its investment in foreign subsidiaries. The Company has determined that its investment in these subsidiaries is permanent in nature and it does not intend to dispose of these investments in the foreseeable future. The amount of the deferred tax liability related to the Company's investment in foreign subsidiaries is not reasonably determinable. The Company has $1,621,523 in cash held outside of the United States, and there is no intent to repatriate at this time. Should we decide to repatriate in the future, taxes would need to be accrued and paid. Under ASC 740, the Company also adopted a two-step approach to recognizing and measuring uncertain tax positions taken or expected to be taken in a tax return. The first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained in an audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company recognizes interest and penalties accrued on unrecognized tax benefits within general and administrative expense. To the extent that accrued interest and penalties do not ultimately become payable, amounts accrued will be reduced and reflected as a reduction in general and administrative expenses in the period that such determination is made. Comprehensive Loss: The Company has adopted ASC Topic 220 “Comprehensive Income”. Comprehensive loss is comprised of net profit or loss, and foreign currency translation adjustments. Basic and Diluted Loss per Share: The Company computes net loss per share in accordance with ASC Topics 260 and ASC 260-10 “Earnings per Share”. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the year. Diluted EPS gives effect to all dilutive potential common shares outstanding during the year including stock options and warrants using the treasury stock method. In computing diluted EPS, the average stock price for the year is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. For the year ended April 30, 2017, income per share excludes 888,814 (April 30, 2016 – 812,169) potentially dilutive common shares (related to stock options, deferred share units and warrants) as their effect was anti-dilutive. Investment tax credits: Investment tax credits are accounted for under the cost reduction method whereby they are netted against the expense or property and equipment to which they relate. Investment tax credits are recorded when the qualifying expenditures have been incurred and if it is more likely than not that the tax credits will be realized. Goodwill: Goodwill represents the excess purchase price over the estimated fair value of net assets acquired and liabilities assumed as of the acquisition date. ASC Topic 350 “Intangibles – Goodwill”. ASC 350 requires goodwill to be tested for impairment annually or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the Company's business enterprise below its carrying value. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of a significant portion of a reporting unit. Recoverability of goodwill is measured at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit, which is measured based upon, among other factors, market multiples for comparable companies as well as a discounted cash flow analysis. Management has determined that the Company currently has a single reporting unit which is CounterPath Corporation. If the recorded value of the assets, including goodwill, and liabilities (“net book value”) of the reporting unit exceeds its fair value, an impairment loss may be required. Goodwill of $6,339,717 (CDN$6,704,947) and $2,083,960 (CDN$2,083,752) was initially recorded in connection with the acquisition of NewHeights on August 2, 2007 and FirstHand on February 1, 2008. Translated to U.S. dollars using the period end rate, the goodwill balance at April 30, 2017 was $4,914,029 (CDN$6,704,947) (April 30, 2016 - $5,341,481) and $1,526,926 (CDN$2,083,752) (April 30, 2016 - $1,659,747), respectively. During the fourth quarter of its fiscal year ended April 30, 2017, the Company performed its annual impairment test. In the first step, Management compared the fair value of the Company to its carrying value based upon the market capitalization of the Company as at April 30, 2017. On this basis Management determined that the Company’s fair value exceeded its carrying value and has not recognized any impairment of goodwill in the consolidated financial statements for the year ended April 30, 2017 (2016 - $nil). Derivative Instruments: The Company accounts for derivative instruments, consisting of foreign currency forward contracts, pursuant to the provisions ASC 815, Derivatives and Hedging (“ASC 815”). ASC 815 requires the Company to measure derivative instruments at fair value and record them in the balance sheet as either an asset or liability and expands financial reporting about derivative instruments and hedging activities by requiring enhanced disclosures to enable investors to better understand their effects on an entity’s financial position, results of operations and cash flows. The Company does not use derivative instruments for trading purposes. ASC 815 also requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Company also routinely enters into foreign currency forward contracts, not designated as hedging instruments, to protect against fluctuations in exchange rates. Gains or losses arising out of marked to market fair value valuation of forward contracts, not designated as hedges, and are recognized in net income. The Company records foreign currency forward contracts on its Consolidated Balance Sheets as derivative instruments assets or liabilities depending on whether the net fair value of such contracts is a net asset or net liability, respectively (see Note 9 “Derivative Financial Instruments and Risk Management,” of the Notes to the Consolidated Financial Statements). The Company did not hold any foreign currency derivatives designated as cash flow hedges in the year ended April 30, 2017 (2016 - none). c) New Accounting Pronouncements In May 2014, FASB issued ASU 2014-09, Revenue From Contracts With Customers In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the guidance in the new revenue standard on assessing whether an entity is a principal or an agent in a revenue transaction. This conclusion impacts whether an entity reports revenue on a gross or net basis. We are currently evaluating the impact of this standard on our Consolidated Financial Statements and related disclosures. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing, which clarifies the guidance in the new revenue standard regarding an entity’s identification of its performance obligations in a contract, as well as an entity’s evaluation of the nature of its promise to grant a license of intellectual property and whether or not that revenue is recognized over time or at a point in time. We are currently evaluating the impact of this standard on our Consolidated Financial Statements and related disclosures. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients which amends the guidance in the new revenue standard on collectability, noncash consideration, presentation of sales tax, and transition. The amendments are intended to address implementation issues and provide additional practical expedients to reduce the cost and complexity of applying the new revenue standard. These amendments have the same effective date as the new revenue standard. While we are currently evaluating the method of adoption and the impact of the new revenue standard, as amended, on our Consolidated Financial Statements and related disclosures, we believe the adoption of the new standard may have a significant impact on the accounting for certain transactions with multiple elements or “bundled” arrangements because the requirement to have VSOE for undelivered elements under current accounting standards is eliminated under the new standard. Accordingly, we may be required to recognize as revenue a portion of the sales price upon delivery of the software, as compared to the current requirement of recognizing the entire sales price ratably over an estimated offering period. We continue to evaluate the impact of the new revenue standard on our Consolidated Financial Statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments: Measurement of Credit Losses on Financial Instruments which amends the guidance on measuring credit losses on financial assets held at amortized cost. The amendment is intended to address the issue that the previous “incurred loss” methodology was restrictive for Company’s ability to record credit losses based on not yet meeting the “probable” threshold. The new language will require these assets to be valued at amortized cost presented at the net amount expected to be collected will a valuation provision. The amendments will be effective for fiscal years beginning after December 15, 2019. We are evaluating the impact of this amendment on our consolidated financial statements and related disclosures. In February 2016, FASB issued ASU 2016-02, Leases d) Recently Adopted Accounting Pronouncements In August 2014, FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern |
Equipment
Equipment | 12 Months Ended |
Apr. 30, 2017 | |
Equipment [Text Block] | Note 3 Equipment April 30, 2017 Accumulated Cost Depreciation Net Computer hardware $ 1,036,217 $ 967,681 $ 68,536 Computer software 993,425 986,560 6,865 Leasehold improvements 230,730 200,434 30,296 Office furniture 173,902 162,120 11,782 Websites 118,772 110,438 8,334 $ 2,553,046 $ 2,427,233 $ 125,813 April 30, 2016 Accumulated Cost Depreciation Net Computer hardware $ 1,049,179 $ 976,511 $ 72,668 Computer software 1,008,373 1,002,097 6,276 Leasehold improvements 263,003 237,147 25,856 Office furniture 190,754 186,325 4,429 Websites 120,953 87,619 33,334 $ 2,632,262 $ 2,489,699 $ 142,563 |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 12 Months Ended |
Apr. 30, 2017 | |
Accounts Payable and Accrued Liabilities [Text Block] | Note 4 Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at April 30, 2017 and 2016 are comprised of the following: April 30, 2017 2016 Accounts payable – trade $ 404,234 $ 407,737 Accrued commissions 241,883 272,282 Accrued vacation 607,238 617,589 Third party software royalties 328,740 343,447 Other accrued liabilities 243,433 302,053 $ 1,825,528 $ 1,943,108 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Apr. 30, 2017 | |
Related Party Transactions [Text Block] | Note 5 Related Party Transactions During the year ended April 30, 2017, the Company through its wholly owned subsidiary, CounterPath Technologies Inc., paid $78,386 (2016 - $82,288) to Kanata Research Park Corporation (“KRP”) for leased office space. KRP is controlled by the Chairman of the Company. On November 21, 2013, the Company, through its wholly owned subsidiary, CounterPath Technologies, entered into an agreement with 8007004 (Canada) Inc. (“8007004”) to lease office space. 8007004 is controlled by a member of the board of directors of the Company. CounterPath Technologies, paid $30,591 (2016 - $31,910) for the year ended April 30, 2017. On July 31, 2015, the Company sold products and services to Magor Corporation for consideration of $134,250. Magor Corporation’s chairman of the board is also Chairman of the Company. On December 15, 2016, the Company issued an aggregate of 454,097 shares of common stock under a non- brokered private placement (“Private Placement”) at a price of $2.05 per share for total gross proceeds of $930,899 less issuance costs of $32,207. In connection with the Private Placement, KRP, a company controlled by the Chairman of the Company, purchased 198,000 shares and a director and chief executive officer of the Company purchased 12,195 shares. The above transactions are in the normal course of operations and are recorded at amounts established and agreed to between the related parties. |
Common Stock
Common Stock | 12 Months Ended |
Apr. 30, 2017 | |
Common Stock [Text Block] | Note 6 Common Stock Private Placement On December 15, 2016, the Company issued an aggregate of 454,097 shares of common stock under a non- brokered private placement at a price of $2.05 per share for total gross proceeds of $930,899 less issuance costs of $32,206. On April 4, 2016, the Company entered into an agreement to issue 25,000 shares of the Company’s common stock in exchange for advisory services which was subsequently amended to 23,500 shares. The shares were issued in three tranches: (i) the first tranche of 10,000 shares was issued on April 22, 2016; (ii) the second tranche of 10,000 shares was issued on May 25, 2016; and (iii) the third tranche of 3,500 shares was issued on June 30, 2016. Stock Options The Company has a stock option plan (the “2010 Stock Option Plan”) under which options to purchase common shares of the Company may be granted to employees, directors and consultants. The 2010 Stock Option Plan is effectively a merging of the Company’s 2004 and 2005 stock option plans. Stock options entitle the holder to purchase common stock at a subscription price determined by the Board of Directors of the Company at the time of the grant. The options generally vest in the amount of 12.5% on the date which is six months from the date of grant and then beginning in the seventh month at 1/42 per month for 42 months, at which time the options are fully vested. The maximum number of shares of common stock authorized by the stockholders and reserved for issuance by the Board under 2010 Stock Option Plan is 986,000. On September 12, 2016, the decrease in the exercise price of certain outstanding stock options to $2.50 was authorized by the Company’s stock holders. Accordingly the exercise price of 319,822 stock options with exercise prices ranging from $4.50 to $29.00 was decreased to $2.50. The fair value of the options immediately prior to the modification was compared to the fair value of the modified options. Stock based compensation of $112,158 was recognized on the modification of the vested options. The Company uses the Black-Scholes option pricing model to determine the fair value of stock options granted. In accordance with ASC 718 “Share-Based Payment” for employees, the compensation expense is amortized on a straight-line basis over the requisite service period which approximates the vesting period. Compensation expense for stock options granted to non-employees is amortized over the vesting period or, if none exists, over the service period. Compensation associated with unvested options granted to non-employees is re-measured on each balance sheet date using the Black-Scholes option pricing model. The expected volatility of options granted has been determined using the method described under ASC 718 using the historical stock price. The expected term of options granted to employees in the current fiscal period has been determined utilizing historic data as prescribed by ASC 718. For non-employees, based on the Company’s history, the expected term of the options approximates the full term of the options. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected term of the stock options. The Company has not paid and does not anticipate paying dividends on its common stock; therefore, the expected dividend yield is assumed to be zero. In addition, ASC 718 requires companies to utilize an estimated forfeiture rate when calculating the expense for the period, whereas prior to the adoption of ASC 718 the Company recorded forfeitures based on actual forfeitures and recorded a compensation expense recovery in the period when the awards were forfeited. As a result, based on the Company’s experience, the Company applied an estimated forfeiture rate of 15% for year ended April 30, 2017 and 2016 in determining the expense recorded in the accompanying consolidated statement of operations. For the majority of the stock options granted, the number of shares issued on the date the stock options are exercised is net of the minimum statutory withholding requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees. These withheld shares are not issued or considered common stock repurchases under our authorized plan and are not included in the common stock repurchase totals. In our consolidated financial statements, these withheld shares are netted against the number of shares that would have been issued upon vesting. The weighted-average fair values of options granted during the years ended April 30, 2017 and 2016 were $1.54 and $2.35, respectively. The weighted-average assumptions utilized to determine such values are presented in the following table: Year Ended Year Ended April 30, 2017 April 30, 2016 Risk-free interest rate 1.39% 1.66% Expected volatility 94.95% 92.48% Expected term 3.7 yrs 3.7 yrs Dividend yield 0% 0% The following is a summary of the status of the Company’s stock options as of April 30, 2017 and the stock option activity during the years ended April 30, 2017 and 2016: Number of Weighted-Average Options Exercise Price per Share Outstanding at April 30, 2015 411,781 $15.20 Granted 114,900 $3.72 Exercised - - Forfeited / Cancelled (66,216 ) $8.87 Expired (49,735 ) $15.63 Outstanding at April 30, 2016 410,730 $12.99 Granted 125,000 $2.38 Exercised - - Forfeited / Cancelled (49,268 ) $4.16 Expired (89,540 ) $7.59 Outstanding at April 30, 2017 396,922 $2.46 Exercisable at April 30, 2017 221,739 $2.49 Exercisable at April 30, 2016 236,795 $16.77 The following table summarizes information regarding stock options outstanding as of April 30, 2017: Number of Aggregate Number of Aggregate Exercise Options Intrinsic Options Intrinsic Price Outstanding Value Expiry Date Exercisable Value $2.03 10,000 – December 15, 2021 – – $2.40 60,000 – July 15, 2021 11,250 – $2.41 51,656 – December 14, 2020 17,333 – $2.46 25,000 – March 14, 2022 – – $2.50 250,266 – July 19, 2017 to July 17, 2020 193,156 – April 30, 2017 396,922 – 221,739 – April 30, 2016 410,730 – 236,795 – The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing stock price of $1.93 per share as of April 30, 2017 (April 30, 2016 – $2.12), which would have been received by the option holders had all option holders exercised their options as of that date. The total number of in-the-money options vested and exercisable as of April 30, 2017 was nil (April 30, 2016 – nil). The total intrinsic value of options exercised during the year ended April 30, 2017 was $nil (2016 – $nil). The grant date fair value of options vested during the year ended April 30, 2017 was $412,602 (April 30, 2016 – $579,614). The following table summarizes information regarding the non-vested stock purchase options outstanding as of April 30, 2017: Number of Weighted Average Options Grant-Date Fair Value Non-vested options at April 30, 2015 201,237 $6.20 Granted 114,900 $2.35 Vested (83,318 ) $6.96 Forfeited (58,884 ) $4.79 Non-vested options at April 30, 2016 173,935 $4.15 Granted 125,000 $1.54 Vested (84,833 ) $4.86 Forfeited (38,919 ) $1.95 Non-vested options at April 30, 2017 175,183 $3.49 As of April 30, 2017, there was $439,431 of total unrecognized compensation cost related to unvested stock options. This unrecognized compensation cost is expected to be recognized over a weighted average period of 2.01 years. Employee and non-employee stock-based compensation amounts classified in the Company’s consolidated statements of operations for the year ended April 30, 2017 and 2016 are as follows: Years Ended April 30, 2017 2016 Cost of sales $ 97,434 $ 68,259 Sales and marketing 172,367 253,913 Research and development 102,975 80,228 General and administrative 166,713 180,536 Total stock-based compensation $ 539,489 $ 582,936 Warrants On September 4, 2015, the Company completed a non-brokered private placement (the “Private Placement”) of 293,000 units, at a price of $5.00 per unit, for gross aggregate proceeds of $1,465,000 less stock issuance costs of $23,161. Each unit consists of one share of common stock and one-half of one non-transferable common share purchase warrant. Each whole warrant entitles the holder to purchase one additional share of the Company’s common stock at an exercise price of $7.50 per share until September 4, 2017. The following tables summarize information regarding the warrants outstanding as of April 30, 2017 and April 30, 2016. Weighted Number of Average Warrants Exercise Price Expiry Dates Warrants at April 30, 2015 – – – Granted 146,500 $ 7.50 September 4, 2017 Exercised – – – Expired – – – Warrants at April 30, 2016 146,500 $ 7.50 September 4, 2017 Granted – – – Exercised – – – Expired – – – Warrants at April 30, 2017 146,500 $ 7.50 September 4, 2017 Employee Stock Purchase Plan Under the terms of the Employee Stock Purchase Plan (the “ESPP”) all regular salaried (non-probationary) employees can purchase up to 6% of their base salary in common shares of the Company at market price. The Company will match 50% of the shares purchased by issuing or purchasing in the market up to 3% of the respective employee’s base salary in shares. During the year ended April 30, 2017, the Company matched $35,028 (2016 - $39,472) in shares purchased by employees under the ESPP. During the year ended April 30, 2017, 45,956 shares (2016 – 36,539) were issued or purchased by employees on the open market under the ESPP. A total of 120,000 shares have been reserved for issuance under the ESPP. As of April 30, 2017, a total of 86,203 shares were available for issuance under the ESPP. Normal Course Issuer Bid Plan Pursuant to a normal course issuer bid commencing on March 29, 2017 and expiring March 28, 2018, the Company is authorized to purchase up to 258,613 shares of their common stock through the facilities of the TSX and other Canadian marketplaces or U.S. marketplaces. Pursuant to a normal course issuer bid commencing March 19, 2015 and expiring March 18, 2016, the Company repurchased 11,360 shares at an average price of $3.80 (CDN$4.97) for an aggregate purchase price of $43,168. Pursuant to a normal course issuer bid commencing on March 19, 2016 and expiring March 18, 2017, the Company repurchased 4,700 shares at an average price of $2.24 (CDN$2.93) for a total of $10,528. During the period from March 29, 2017 to April 30, 2017, the Company repurchased 59,900 shares at an average price of $2.03 (CDN$2.72) for a total of $121,597 pursuant to a normal course issuer bid commencing on March 29, 2017 and expiring on March 28, 2018. As of April 30, 2017, a total of 80,488 shares have been cancelled and the remaining 59,900 repurchased shares are in the process of being cancelled since the normal course issuer bid was initiated. Deferred Share Unit Plan Under the terms of the DSUP which is effective as at October 22, 2009, each deferred share unit (each, a “DSU”) is equivalent to one share of common stock. The maximum number of shares of common stock that may be reserved for issuance to any one participant pursuant to DSUs granted under the DSUP and any share compensation arrangement is 5% of the number of shares of common stock of the Company outstanding at the time of reservation. A DSU granted to a participant who is a director of the Company shall vest immediately on the award date. A DSU granted to a participant other than a director will generally vest as to one-third (1/3) of the number of DSUs granted on the first, second and third anniversaries of the award date. Fair value of the DSUs, which is based on the closing price of the Company’s common stock on the date of grant, is recorded as compensation expense over the vesting period. On September 12, 2016, the maximum number of shares of common stock authorized by the Company’s stockholders reserved for issuance under the DSUP was increased from 400,000 shares to 500,000 shares. During the year ended April 30, 2017, 90,453 (2016 – 55,034) DSUs were issued under the DSUP, of which 24,228 DSUs were granted to officers and 66,225 DSUs were granted to non-employee directors. As of April 30, 2017, a total of 130,595 shares were available for issuance under the DSUP. The following table summarizes the Company’s outstanding DSU awards as of April 30, 2017 and 2016, and changes during the period then ended: Weighted Average Grant Number of DSUs Date Fair Value per Unit DSUs at April 30, 2015 199,905 $11.00 Granted 55,034 $5.20 Conversions – – Outstanding at April 30, 2016 254,939 $9.79 Granted 90,453 $2.40 Conversions – – Outstanding at April 30, 2017 345,392 $7.85 As of April 30, 2017, there was $110,181 (2016 – $189,523) of total unrecognized compensation cost related to unvested DSU awards. This unrecognized compensation cost is expected to be recognized over a weighted average period of 1.44 years (2016 – 1.63). The total fair value of DSUs that vested during the year was $319,577 (2016 – $338,912). Employee and non-employee DSU based compensation amounts classified in the Company’s consolidated statements of operations for the year ended April 30, 2017 and 2016 are as follows: Year Ended April 3 0, 2017 2016 Sales and marketing $ – $ – Research and development – 1,633 General and administrative 296,429 322,345 Total deferred share unit-based compensation $ 296,429 $ 323,978 The following table summarizes information regarding the non-vested DSUs outstanding as of April 30, 2017: Weighted Average Grant Date Fair Number of DSUs Value per Unit Non-vested DSUs at April 30, 2015 25,169 $14.60 Granted 55,034 $5.20 Vested (41,681 ) $8.13 Non-vested DSUs at April 30, 2016 38,522 $8.15 Granted 90,453 $2.40 Vested (82,758 ) $3.86 Non-vested DSUs at April 30, 2017 46,217 $4.58 |
Income Taxes
Income Taxes | 12 Months Ended |
Apr. 30, 2017 | |
Income Taxes [Text Block] | Note 7 Income Taxes Deferred tax assets and liabilities are recognized for temporary differences between the carrying amount of the balance sheet items and their corresponding tax values as well as for the benefit of losses available to be carried forward to future years for tax purposes that are likely to be realized. Significant components of the Company’s deferred tax assets and liabilities, after applying enacted corporate income tax rates, are as follows: Years Ended April 30, 2017 2016 Tax loss carry forwards $ 19,378,000 $ 18,796,000 Capital losses carried forward 227,000 247,000 Equipment 164,000 242,000 Other 39,000 64,000 Bad debt 29,000 186,000 Nondeductible research and development expenses 2,837,000 3,084,000 Investment tax credits 413,000 490,000 Cumulative unrealized foreign exchange gain 405,000 410,000 Acquired technology and other intangibles 313,000 (1,115,000 ) Valuation allowance established by management (23,805,000 ) (22,404,000 ) Net deferred tax assets $ – $ – The provision for income taxes differ from the amount calculated using the U.S. federal and state statutory income tax rates as follows: Years Ended April 30, 2017 2016 Tax (recovery) based on U.S. rates $ (836,000 ) $ (915,000 ) Foreign tax rate differential (38,000 ) (34,000 ) Non-deductible expenses – – Change in fair value of derivative instrument – – Non-deductible stock option compensation 289,000 295,000 Effect of reduction (increase) in foreign statutory rates – 104,000 Foreign exchange gain (losses) on revaluation of deferred tax balances (818,000 ) 384,000 Under provision relating to prior year 2,000 (2,026,000 ) Expiry of non-operating losses – – Increase in valuation allowance 1,401,000 2,192,000 Income tax expense for year $ – $ – The Company establishes its valuation allowance based on projected future operations. Management has determined that the allowance should be 100% of the deferred tax assets. When circumstances cause a change in management’s judgment about the recoverability of deferred tax assets, the impact of the change on the valuation allowance will be reflected in current income. As at April 30, 2017, the Company had net operating loss carry-forwards available to reduce taxable income in future years as follows: Country Amount Expiration Dates United States – US$ $ 47,730,000 2026 – 2037 Canada – CDN$ $ 17,762,732 (1) 2026 – 2035 (1) The Company is subject to taxation in the U.S. and Canada. It is subject to tax examinations by tax authorities for all taxation years commencing in or after 2002. The Company does not expect any material increase or decrease in its income tax expense in the next twelve months related to examinations or changes in uncertain tax positions. Changes in the Company’s uncertain tax positions for the year ended April 30, 2017 and April 30, 2016 were as follows: Years Ended April 30, 2017 2016 Balance at beginning of year $ 10,563 $ 25,631 Increases related to prior year tax positions (interest and penalties) – – Increases related to current year tax positions (interest and penalties) – – Settlements – – Lapses in statute of limitations (800 ) (15,068 ) Balance at end of year $ 9,763 $ 10,563 |
Segmented Information
Segmented Information | 12 Months Ended |
Apr. 30, 2017 | |
Segmented Information [Text Block] | Note 8 Segmented Information The Company’s chief operating decision maker reviews financial information presented on a consolidated basis, accompanied by disaggregated information about revenues by geographic region for purposes of making operating decisions and assessing financial performance. Accordingly, the Company has concluded that it has one reportable operating segment. Revenues are based on the country in which the customer is located. The following is a summary of total revenues by geographic area for the years ended April 30, 2017 and 2016: Years Ended April 30, 2017 2016 North America $ 6,220,367 $ 7,192,010 EMEA 2,802,629 2,459,541 Asia Pacific 1,043,360 699,203 Latin America 619,234 730,604 $ 10,685,590 $ 11,081,358 As at July 31, 2015, the Company adjusted geographic regions to better reflect its current operations. In prior periods geographic groupings included North America, Europe, Asia and Africa and Latin America. All of the Company’s long-lived assets, which includes equipment, goodwill, intangible assets, and other assets, are located in Canada and the United States as follows: As at April 30, 2017 2016 Canada $ 6,731,644 $ 7,279,019 United States 34,761 39,583 $ 6,766,405 $ 7,318,602 |
Derivative Financial Instrument
Derivative Financial Instruments and Risk Management | 12 Months Ended |
Apr. 30, 2017 | |
Derivative Financial Instruments and Risk Management [Text Block] | Note 9 Derivative Financial Instruments and Risk Management In the normal course of business, the Company is exposed to fluctuations in interest rates and the exchange rates associated with foreign currencies. The Company’s primary objective for holding derivative financial instruments is to manage foreign currency exchange rate risk. Foreign Currency Exchange Rate Risk A majority of our revenue activities are transacted in U.S. dollars. However, the Company is exposed to foreign currency exchange rate risk inherent in conducting business globally in numerous currencies, of which the most significant to our operations for the year ended April 30, 2016 is the Canadian dollar. The Company’s foreign currency risk management program includes foreign currency derivatives with cash flow hedge accounting designation that utilizes foreign currency forward contracts to hedge exposures to the variability in the U.S. dollar equivalent of anticipated non-U.S. dollar-denominated cash flows. The Company periodically enters into foreign currency forward contracts, not designated as hedging instruments, to protect it from fluctuations in exchange rates. As of April 30, 2016, the Company had no foreign currency forward contracts. Notional amounts do not quantify risk or represent assets or liabilities of the Company, but are used in the calculation of cash settlements under the contracts. Fair Value Measurements When available, the Company uses quoted market prices to determine fair value, and classifies such measurements within Level 1. In some cases where market prices are not available, the Company makes use of observable market-based inputs to calculate fair value, in which case the measurements are classified within Level 2. If quoted or observable market prices are not available, fair value is based upon internally developed models that use, where possible, current market-based parameters such as interest rates, yield curves and currency rates. These measurements are classified within Level 3. Fair value measurements are classified according to the lowest level input or value-driver that is significant to the valuation. A measurement may therefore be classified within Level 3 even though there may be significant inputs that are readily observable. Fair value measurement includes the consideration of non-performance risk. Non-performance risk refers to the risk that an obligation (either by a counterparty or the Company) will not be fulfilled. For financial assets traded in an active market (Level 1), the non-performance risk is included in the market price. For certain other financial assets and liabilities (Level 2 and 3), our fair value calculations have been adjusted accordingly. The following table presents the Company’s assets and liabilities, that are measured at fair value on a recurring basis as of April 30, 2017 and 2016: Carrying Fair Value As at April 30, 2017 Amount Fair Value Levels Reference Cash and cash equivalents $ 2,071,019 $ 2,071,019 1 Carrying Fair Value at April 30, 2016 Amount Fair Value Levels Reference Cash and cash equivalents $ 2,159,738 $ 2,159,738 1 Forward contracts April 30, April 30, 2017 2016 Opening balance at the beginning of the year $ – $ – Fair value of forward, at issuance – – Change in fair value of forward contracts since issuance – (47,690 ) Fair value of forward contracts settled during the year – 47,690 Fair value of forward contracts at year end $ – $ – Fair Values of Financial Instruments In addition to the methods and assumptions the Company uses to record the fair value of financial instruments as discussed in the Fair Value Measurements section above, the Company used the following methods and assumptions to estimate the fair value of the Company’s financial instruments: Cash – Accounts receivable, net – Forward contracts – |
Commitments
Commitments | 12 Months Ended |
Apr. 30, 2017 | |
Commitments [Text Block] | Note 10 Commitments Total payable over the term of the lease agreements for the years ended April 30, are as follows: Office Leases – Office Leases – Total Office Related Party Unrelated Party Leases 2018 $ 75,638 $ 525,129 $ 600,767 2019 75,638 529,362 605,000 2020 – 263,691 263,691 2021 – 6,092 6,092 $ 151,276 $ 1,324,274 $ 1,475,550 |
Loss per common share
Loss per common share | 12 Months Ended |
Apr. 30, 2017 | |
Loss per common share [Text Block] | Note 11 Loss per common share Computation of loss per share: Year ended April 30, 2017 Per Share Income Shares (1)(2) Amount Basic EPS Income available to common stockholders $ (2,458,515 ) 4,722,724 $ (0.52 ) Effect on dilutive securities (Gain)/Loss from derivative instruments – – Diluted EPS $ (2,458,515 ) 4,722,724 $ (0.52 ) Year ended April 30, 2016 Per Share Income Shares (1)(2) Amount Basic EPS Income available to common stockholders $ (2,691,595 ) 4,433,402 $ (0.61 ) Effect on dilutive securities (Gain)/Loss from derivative instruments – – Diluted EPS $ (2,691,595 ) 4,433,402 $ (0.61 ) (1) (2) |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Apr. 30, 2017 | |
Basis of Presentation [Policy Text Block] | a) Basis of Presentation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, CounterPath Technologies Inc., a company existing under the laws of the province of British Columbia, Canada, and BridgePort incorporated under the laws of the state of Delaware. The results of NewHeights (which subsequently was amalgamated with another subsidiary to become CounterPath Technologies Inc.) are included from August 2, 2007, the date of acquisition. The results of FirstHand (which subsequently was amalgamated with CounterPath Technologies Inc.) and BridgePort are included from February 1, 2008, the date of acquisition. All inter-company transactions and balances have been eliminated. The Company has experienced flat to declining revenues as a result of a number of factors including its buildout of a cloud based subscription platform concurrent with the change of its licensing model to subscription based licensing and has not reached profitable operations which raises substantial doubt about its ability to continue operating as a going concern within one year of the date of the financial statements. The Company has historically been able to manage liquidity requirements through cost management and cost reduction measures, supplemented with raising additional financing. To alleviate this situation, the Company has plans in place to improve its financial position and liquidity, while executing on its growth strategy, by managing and or reducing costs that is not expected to have an adverse impact on the ability to generate cash flows, as the transition to its software as a service platform and subscription licensing continues. In addition, the Company has historically been able to raise additional financing to assist with the Company’s transition. As of the date of these financial statements, and from the planned cost management and reduction measures, that the Company has sufficient liquidity to meet the ongoing cash requirements of the Company for one year after the issuance date of the financial statements. Therefore, although substantial doubt has been raised, this has been alleviated by management’s plans. |
Revenue Recognition [Policy Text Block] | Revenue Recognition: The Company recognizes revenue in accordance with the Accounting Standard Codification (“ASC”) 985- 605 “Software Revenue Recognition”. In accordance with these standards, revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collection of the related accounts receivable is deemed probable. In making these judgments, management evaluates these criteria as follows: • Persuasive evidence of an arrangement. • Delivery has occurred. • Fees are fixed or determinable. • Collection is deemed probable. A substantial amount of the Company’s sales involve multiple element arrangements, such as products, support, professional services, and training. When arrangements include multiple elements, the Company allocates the total fee to delivered elements using the residual method when vendor specific objective evidence (VSOE) does not exist for the delivered element. Under the residual method, revenue is recognized when VSOE of fair value exists for all of the undelivered elements of the arrangement, but does not exist for one or more of the delivered elements of the arrangement. Each arrangement requires the Company to analyze the individual elements in the transaction and to estimate the fair value of each undelivered element, which typically represents support services. Revenue is allocated to each of the undelivered elements based on its respective fair value. For contracts with elements related to customized network solutions and certain network build-outs, for transactions accounted for as sales of products or services, we apply Financial Accounting Standards Board (“FASB”) ASC Subtopic 605-25 “Revenue Recognition – Multiple-Element Arrangements” and revenues are recognized under ASC 605-35”Revenue Recognition – Construction type and Production type Contract”, for long-term transactions entered to supply software, or software systems, that require significant modification or customization, generally using the percentage-of-completion method. For multi-element arrangements, the Company allocates revenue to all deliverables based on their selling prices. In such circumstances, the Company uses a hierarchy to determine the selling price to be used for allocating revenue to deliverables: (i) VSOE, (ii) third-party evidence of selling price (“TPE”), and (iii) best estimate of selling price (“ESP”). VSOE generally exists only when the Company sells the deliverable separately and is the price actually charged by the Company for that deliverable. ESPs reflect the Company’s best estimates of what the selling prices of elements would be if they were sold regularly on a stand-alone basis. In using the percentage-of-completion method, revenues are generally recorded based on completion of milestones as described in the agreement. Profit estimates on long-term contracts are revised periodically based on changes in circumstances and any losses on contracts are recognized in the period that such losses become known. Support and maintenance services include e-mail and telephone support, unspecified rights to bug fixes and product updates and upgrades and enhancements available on a when-and-if available basis, and are recognized rateably over the term of the service period, which is generally twelve months. |
Stock-Based Compensation [Policy Text Block] | Stock-Based Compensation The Company adopted ASC 718 “Compensation – Stock Compensation”, using the modified prospective method on May 1, 2006. Under this application, the Company is required to record compensation expense, based on the fair value of the awards, for all awards granted after the date of adoption and for the unvested portion of previously granted awards that remain outstanding as at the date of adoption. In accordance with ASC 718, the compensation expense is amortized on a straight-line basis over the requisite service period which approximates the vesting period. Stock options granted to non-employees were accounted for in accordance with ASC 718 and ASC 505-50 “Equity based payments to non-employees” and were measured at the fair value of the options as determined by an option pricing model on the measurement date and compensation expense is amortized over the vesting period or, if none exists, over the service period. With the adoption of ASC 718, the Company has elected to use the Black-Scholes option pricing model to determine the fair value of stock options granted. The Company has estimated the fair value of option awards to employees and non-employees for the years ended April 30, 2017 and April 30, 2016 using the assumptions more fully described in Note 6. |
Use of Estimates [Policy Text Block] | Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires the Company’s management to make estimates and assumptions which affect the amounts reported in these consolidated financial statements, the notes thereto, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. |
Equipment and Amortization [Policy Text Block] | Equipment and Amortization: Equipment is recorded at cost. Depreciation is provided for using the straight-line method over the estimated useful lives as follows: Computer hardware Two years Computer software Two years Leasehold improvements Shorter of lease term or estimated economic life Office furniture Five years Website Three years |
Research and Development [Policy Text Block] | Research and Development: Research and development expense includes costs incurred to develop intellectual property. The costs for the development of new software and substantial enhancements to existing software are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized. Management has determined that technological feasibility is established at the time a working model of software is completed. Because management believes that the current process for developing software will be essentially completed concurrently with the establishment of technological feasibility, no costs have been capitalized to date. |
Website Development Costs [Policy Text Block] | Website Development Costs: The Company recognizes the costs associated with developing a website in accordance with ASC Topic 350-40 “Intangibles – Internal Use Software”. Internal and external costs incurred during the preliminary project stage are expensed as they are incurred. Training costs are not internal-use software development costs and, if incurred during this stage, are expensed as incurred. These capitalized costs are amortized based on their estimated useful life over three years. Payroll and other related costs are not capitalized, as the amounts principally relate to maintenance. |
Accounts Receivable and Allowance for Doubtful Accounts [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts: Accounts receivable are presented net of an allowance for doubtful accounts. Years Ended April 30, 2017 2016 Balance of allowance for doubtful debts, beginning of year $ 547,173 $ 294,719 Bad debt provision 346,689 612,769 Write-off of receivables (813,630 ) (360,315 ) Balance of allowance for doubtful debts, end of year $ 80,232 $ 547,173 The Company determines the allowance for doubtful accounts by considering a number of factors, including the length of time the accounts receivable are beyond the contractual payment terms, previous loss history, and the customer’s current ability to pay its obligation. When the Company becomes aware of a specific customer’s inability to meet its financial obligations to the Company, the Company records a charge to the allowance to reduce the customer’s related accounts. |
Foreign Currency Translation [Policy Text Block] | Foreign Currency Translation: The Company’s functional currency is the U.S. dollar. The Company’s wholly-owned subsidiaries with a functional currency other than the U.S. dollar are translated into amounts in the reporting currency, U.S. dollars, in accordance with ASC Topic 830 “Foreign Currency Matters”. Revenues and expenses are translated at the average exchange rate prevailing during the periods. At each balance sheet date, assets and liabilities that are denominated in a currency other than U.S. dollars are adjusted to reflect the current exchange rate which may give rise to a foreign currency translation adjustment accounted for as a separate component of stockholders’ equity and included in comprehensive loss. For transactions undertaken by the Company in foreign currencies, monetary assets and liabilities are translated into the functional currency at the exchange rate in effect at the end of the year. Non-monetary assets and liabilities are translated at the exchange rate prevailing when the assets were acquired or the liabilities assumed. Revenues and expenses are translated at the rate approximating the rate of exchange on the transaction date. Exchange gains and losses are included in the determination of net income (loss) for the year. |
Accrued Warranty [Policy Text Block] | Accrued Warranty: The Company’s warranty policy generally provides for one year of warranty for its products. The Company records a liability for estimated warranty obligations at the date products are sold. The estimated cost of warranty coverage is based on the Company’s actual historical experience with its current products or similar products. For new products, the required reserve is based on historical experience of similar products until such time as sufficient historical data has been collected on the new product. Estimated liabilities for warranty exposures, which relate to normal product warranties and a one-year obligation to provide for potential future liabilities for product sales for the years ended April 30, 2017 and 2016 were as follows: Years Ended April 30, 2017 2016 Balance, beginning of year $ 61,356 $ 73,117 Usage during the year - - Additions (reductions) during the year (6,991 ) (11,761 ) Balance, end of year $ 54,365 $ 61,356 |
Trademarks [Policy Text Block] | Trademarks: Costs related to trademark applications have been deferred and are included in other assets. Once granted, trademark costs will be amortized over their useful lives. |
Fair Value of Financial Instruments [Policy Text Block] | Fair Value of Financial Instruments: The Company’s financial instruments consist of cash, accounts receivable, accounts payable and accrued liabilities, customer deposits, foreign exchange contracts, and derivative instruments. The fair value of the financial instruments approximate book value. As a basis for considering market participant assumptions in fair value measurements, ASC 820-10 “Fair Value Measurements” establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The fair value hierarchy, as defined by ASC 820-10, contains three levels of inputs that may be used to measure fair value as follows: Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals; and Level 3 inputs are unobservable inputs for the asset or liability which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company’s derivative financial instruments are valued using observable market-based inputs to industry valuation models. These valuation models require a variety of inputs, including contractual terms, market prices, yield curves, and measures of volatility obtained from various market sources. The Company measures certain financial assets, including any foreign currency option or forward contracts at fair value. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. |
Income Taxes [Policy Text Block] | Income Taxes: The Company accounts for income taxes by the asset and liability method in accordance with ASC Topic 740 “Income Taxes”. Under this method, current income taxes are recognized for the estimated income taxes payable for the current year. Deferred income tax assets and liabilities are recognized in the current year for temporary differences between the tax and accounting bases of assets and liabilities as well as for the benefit of losses available to be carried forward to future years for tax purposes that are likely to be realized. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. The Company has not recorded a deferred tax liability related to its investment in foreign subsidiaries. The Company has determined that its investment in these subsidiaries is permanent in nature and it does not intend to dispose of these investments in the foreseeable future. The amount of the deferred tax liability related to the Company's investment in foreign subsidiaries is not reasonably determinable. The Company has $1,621,523 in cash held outside of the United States, and there is no intent to repatriate at this time. Should we decide to repatriate in the future, taxes would need to be accrued and paid. Under ASC 740, the Company also adopted a two-step approach to recognizing and measuring uncertain tax positions taken or expected to be taken in a tax return. The first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained in an audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company recognizes interest and penalties accrued on unrecognized tax benefits within general and administrative expense. To the extent that accrued interest and penalties do not ultimately become payable, amounts accrued will be reduced and reflected as a reduction in general and administrative expenses in the period that such determination is made. |
Comprehensive Loss [Policy Text Block] | Comprehensive Loss: The Company has adopted ASC Topic 220 “Comprehensive Income”. Comprehensive loss is comprised of net profit or loss, and foreign currency translation adjustments. |
Basic and Diluted Loss per Share [Policy Text Block] | Basic and Diluted Loss per Share: The Company computes net loss per share in accordance with ASC Topics 260 and ASC 260-10 “Earnings per Share”. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the year. Diluted EPS gives effect to all dilutive potential common shares outstanding during the year including stock options and warrants using the treasury stock method. In computing diluted EPS, the average stock price for the year is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. For the year ended April 30, 2017, income per share excludes 888,814 (April 30, 2016 – 812,169) potentially dilutive common shares (related to stock options, deferred share units and warrants) as their effect was anti-dilutive. |
Investment tax credits [Policy Text Block] | Investment tax credits: Investment tax credits are accounted for under the cost reduction method whereby they are netted against the expense or property and equipment to which they relate. Investment tax credits are recorded when the qualifying expenditures have been incurred and if it is more likely than not that the tax credits will be realized. |
Goodwill [Policy Text Block] | Goodwill: Goodwill represents the excess purchase price over the estimated fair value of net assets acquired and liabilities assumed as of the acquisition date. ASC Topic 350 “Intangibles – Goodwill”. ASC 350 requires goodwill to be tested for impairment annually or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the Company's business enterprise below its carrying value. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of a significant portion of a reporting unit. Recoverability of goodwill is measured at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit, which is measured based upon, among other factors, market multiples for comparable companies as well as a discounted cash flow analysis. Management has determined that the Company currently has a single reporting unit which is CounterPath Corporation. If the recorded value of the assets, including goodwill, and liabilities (“net book value”) of the reporting unit exceeds its fair value, an impairment loss may be required. Goodwill of $6,339,717 (CDN$6,704,947) and $2,083,960 (CDN$2,083,752) was initially recorded in connection with the acquisition of NewHeights on August 2, 2007 and FirstHand on February 1, 2008. Translated to U.S. dollars using the period end rate, the goodwill balance at April 30, 2017 was $4,914,029 (CDN$6,704,947) (April 30, 2016 - $5,341,481) and $1,526,926 (CDN$2,083,752) (April 30, 2016 - $1,659,747), respectively. During the fourth quarter of its fiscal year ended April 30, 2017, the Company performed its annual impairment test. In the first step, Management compared the fair value of the Company to its carrying value based upon the market capitalization of the Company as at April 30, 2017. On this basis Management determined that the Company’s fair value exceeded its carrying value and has not recognized any impairment of goodwill in the consolidated financial statements for the year ended April 30, 2017 (2016 - $nil). |
Derivative Instruments [Policy Text Block] | Derivative Instruments: The Company accounts for derivative instruments, consisting of foreign currency forward contracts, pursuant to the provisions ASC 815, Derivatives and Hedging (“ASC 815”). ASC 815 requires the Company to measure derivative instruments at fair value and record them in the balance sheet as either an asset or liability and expands financial reporting about derivative instruments and hedging activities by requiring enhanced disclosures to enable investors to better understand their effects on an entity’s financial position, results of operations and cash flows. The Company does not use derivative instruments for trading purposes. ASC 815 also requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Company also routinely enters into foreign currency forward contracts, not designated as hedging instruments, to protect against fluctuations in exchange rates. Gains or losses arising out of marked to market fair value valuation of forward contracts, not designated as hedges, and are recognized in net income. The Company records foreign currency forward contracts on its Consolidated Balance Sheets as derivative instruments assets or liabilities depending on whether the net fair value of such contracts is a net asset or net liability, respectively (see Note 9 “Derivative Financial Instruments and Risk Management,” of the Notes to the Consolidated Financial Statements). The Company did not hold any foreign currency derivatives designated as cash flow hedges in the year ended April 30, 2017 (2016 - none). |
New Accounting Pronouncements [Policy Text Block] | c) New Accounting Pronouncements In May 2014, FASB issued ASU 2014-09, Revenue From Contracts With Customers In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the guidance in the new revenue standard on assessing whether an entity is a principal or an agent in a revenue transaction. This conclusion impacts whether an entity reports revenue on a gross or net basis. We are currently evaluating the impact of this standard on our Consolidated Financial Statements and related disclosures. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing, which clarifies the guidance in the new revenue standard regarding an entity’s identification of its performance obligations in a contract, as well as an entity’s evaluation of the nature of its promise to grant a license of intellectual property and whether or not that revenue is recognized over time or at a point in time. We are currently evaluating the impact of this standard on our Consolidated Financial Statements and related disclosures. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients which amends the guidance in the new revenue standard on collectability, noncash consideration, presentation of sales tax, and transition. The amendments are intended to address implementation issues and provide additional practical expedients to reduce the cost and complexity of applying the new revenue standard. These amendments have the same effective date as the new revenue standard. While we are currently evaluating the method of adoption and the impact of the new revenue standard, as amended, on our Consolidated Financial Statements and related disclosures, we believe the adoption of the new standard may have a significant impact on the accounting for certain transactions with multiple elements or “bundled” arrangements because the requirement to have VSOE for undelivered elements under current accounting standards is eliminated under the new standard. Accordingly, we may be required to recognize as revenue a portion of the sales price upon delivery of the software, as compared to the current requirement of recognizing the entire sales price ratably over an estimated offering period. We continue to evaluate the impact of the new revenue standard on our Consolidated Financial Statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments: Measurement of Credit Losses on Financial Instruments which amends the guidance on measuring credit losses on financial assets held at amortized cost. The amendment is intended to address the issue that the previous “incurred loss” methodology was restrictive for Company’s ability to record credit losses based on not yet meeting the “probable” threshold. The new language will require these assets to be valued at amortized cost presented at the net amount expected to be collected will a valuation provision. The amendments will be effective for fiscal years beginning after December 15, 2019. We are evaluating the impact of this amendment on our consolidated financial statements and related disclosures. In February 2016, FASB issued ASU 2016-02, Leases |
Recently Adopted Accounting Pronouncements [Policy Text Block] | d) Recently Adopted Accounting Pronouncements In August 2014, FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern |
Significant Accounting Polici21
Significant Accounting Policies (Tables) | 12 Months Ended |
Apr. 30, 2017 | |
Straight-line Method Estimations [Table Text Block] | Computer hardware Two years Computer software Two years Leasehold improvements Shorter of lease term or estimated economic life Office furniture Five years Website Three years |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Years Ended April 30, 2017 2016 Balance of allowance for doubtful debts, beginning of year $ 547,173 $ 294,719 Bad debt provision 346,689 612,769 Write-off of receivables (813,630 ) (360,315 ) Balance of allowance for doubtful debts, end of year $ 80,232 $ 547,173 |
Schedule of Product Warranty Liability [Table Text Block] | Years Ended April 30, 2017 2016 Balance, beginning of year $ 61,356 $ 73,117 Usage during the year - - Additions (reductions) during the year (6,991 ) (11,761 ) Balance, end of year $ 54,365 $ 61,356 |
Equipment (Tables)
Equipment (Tables) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Property, Plant and Equipment [Table Text Block] | April 30, 2017 Accumulated Cost Depreciation Net Computer hardware $ 1,036,217 $ 967,681 $ 68,536 Computer software 993,425 986,560 6,865 Leasehold improvements 230,730 200,434 30,296 Office furniture 173,902 162,120 11,782 Websites 118,772 110,438 8,334 $ 2,553,046 $ 2,427,233 $ 125,813 | April 30, 2016 Accumulated Cost Depreciation Net Computer hardware $ 1,049,179 $ 976,511 $ 72,668 Computer software 1,008,373 1,002,097 6,276 Leasehold improvements 263,003 237,147 25,856 Office furniture 190,754 186,325 4,429 Websites 120,953 87,619 33,334 $ 2,632,262 $ 2,489,699 $ 142,563 |
Accounts Payable and Accrued 23
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Apr. 30, 2017 | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | April 30, 2017 2016 Accounts payable – trade $ 404,234 $ 407,737 Accrued commissions 241,883 272,282 Accrued vacation 607,238 617,589 Third party software royalties 328,740 343,447 Other accrued liabilities 243,433 302,053 $ 1,825,528 $ 1,943,108 |
Common Stock (Tables)
Common Stock (Tables) | 12 Months Ended |
Apr. 30, 2017 | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended Year Ended April 30, 2017 April 30, 2016 Risk-free interest rate 1.39% 1.66% Expected volatility 94.95% 92.48% Expected term 3.7 yrs 3.7 yrs Dividend yield 0% 0% |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Weighted-Average Options Exercise Price per Share Outstanding at April 30, 2015 411,781 $15.20 Granted 114,900 $3.72 Exercised - - Forfeited / Cancelled (66,216 ) $8.87 Expired (49,735 ) $15.63 Outstanding at April 30, 2016 410,730 $12.99 Granted 125,000 $2.38 Exercised - - Forfeited / Cancelled (49,268 ) $4.16 Expired (89,540 ) $7.59 Outstanding at April 30, 2017 396,922 $2.46 Exercisable at April 30, 2017 221,739 $2.49 Exercisable at April 30, 2016 236,795 $16.77 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Number of Aggregate Number of Aggregate Exercise Options Intrinsic Options Intrinsic Price Outstanding Value Expiry Date Exercisable Value $2.03 10,000 – December 15, 2021 – – $2.40 60,000 – July 15, 2021 11,250 – $2.41 51,656 – December 14, 2020 17,333 – $2.46 25,000 – March 14, 2022 – – $2.50 250,266 – July 19, 2017 to July 17, 2020 193,156 – April 30, 2017 396,922 – 221,739 – April 30, 2016 410,730 – 236,795 – |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | Number of Weighted Average Options Grant-Date Fair Value Non-vested options at April 30, 2015 201,237 $6.20 Granted 114,900 $2.35 Vested (83,318 ) $6.96 Forfeited (58,884 ) $4.79 Non-vested options at April 30, 2016 173,935 $4.15 Granted 125,000 $1.54 Vested (84,833 ) $4.86 Forfeited (38,919 ) $1.95 Non-vested options at April 30, 2017 175,183 $3.49 |
Schedule of Employee and Non-Employee Service Share-based Compensation Allocation of Recognized Period Costs [Table Text Block] | Years Ended April 30, 2017 2016 Cost of sales $ 97,434 $ 68,259 Sales and marketing 172,367 253,913 Research and development 102,975 80,228 General and administrative 166,713 180,536 Total stock-based compensation $ 539,489 $ 582,936 |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | Weighted Number of Average Warrants Exercise Price Expiry Dates Warrants at April 30, 2015 – – – Granted 146,500 $ 7.50 September 4, 2017 Exercised – – – Expired – – – Warrants at April 30, 2016 146,500 $ 7.50 September 4, 2017 Granted – – – Exercised – – – Expired – – – Warrants at April 30, 2017 146,500 $ 7.50 September 4, 2017 |
Schedule of Stockholders Equity Deferred Share Unit Plan [Table Text Block] | Weighted Average Grant Number of DSUs Date Fair Value per Unit DSUs at April 30, 2015 199,905 $11.00 Granted 55,034 $5.20 Conversions – – Outstanding at April 30, 2016 254,939 $9.79 Granted 90,453 $2.40 Conversions – – Outstanding at April 30, 2017 345,392 $7.85 |
Schedule of Stockholders Equity Non Vested Deferred Share Units [Table Text Block] | Year Ended April 3 0, 2017 2016 Sales and marketing $ – $ – Research and development – 1,633 General and administrative 296,429 322,345 Total deferred share unit-based compensation $ 296,429 $ 323,978 |
Schedule of Allocation of Share Based Compensation Costs for Deferred Share Units [Table Text Block] | Weighted Average Grant Date Fair Number of DSUs Value per Unit Non-vested DSUs at April 30, 2015 25,169 $14.60 Granted 55,034 $5.20 Vested (41,681 ) $8.13 Non-vested DSUs at April 30, 2016 38,522 $8.15 Granted 90,453 $2.40 Vested (82,758 ) $3.86 Non-vested DSUs at April 30, 2017 46,217 $4.58 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Apr. 30, 2017 | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Years Ended April 30, 2017 2016 Tax loss carry forwards $ 19,378,000 $ 18,796,000 Capital losses carried forward 227,000 247,000 Equipment 164,000 242,000 Other 39,000 64,000 Bad debt 29,000 186,000 Nondeductible research and development expenses 2,837,000 3,084,000 Investment tax credits 413,000 490,000 Cumulative unrealized foreign exchange gain 405,000 410,000 Acquired technology and other intangibles 313,000 (1,115,000 ) Valuation allowance established by management (23,805,000 ) (22,404,000 ) Net deferred tax assets $ – $ – |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended April 30, 2017 2016 Tax (recovery) based on U.S. rates $ (836,000 ) $ (915,000 ) Foreign tax rate differential (38,000 ) (34,000 ) Non-deductible expenses – – Change in fair value of derivative instrument – – Non-deductible stock option compensation 289,000 295,000 Effect of reduction (increase) in foreign statutory rates – 104,000 Foreign exchange gain (losses) on revaluation of deferred tax balances (818,000 ) 384,000 Under provision relating to prior year 2,000 (2,026,000 ) Expiry of non-operating losses – – Increase in valuation allowance 1,401,000 2,192,000 Income tax expense for year $ – $ – |
Summary of Operating Loss Carryforwards [Table Text Block] | Country Amount Expiration Dates United States – US$ $ 47,730,000 2026 – 2037 Canada – CDN$ $ 17,762,732 (1) 2026 – 2035 |
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] | Years Ended April 30, 2017 2016 Balance at beginning of year $ 10,563 $ 25,631 Increases related to prior year tax positions (interest and penalties) – – Increases related to current year tax positions (interest and penalties) – – Settlements – – Lapses in statute of limitations (800 ) (15,068 ) Balance at end of year $ 9,763 $ 10,563 |
Segmented Information (Tables)
Segmented Information (Tables) | 12 Months Ended |
Apr. 30, 2017 | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Years Ended April 30, 2017 2016 North America $ 6,220,367 $ 7,192,010 EMEA 2,802,629 2,459,541 Asia Pacific 1,043,360 699,203 Latin America 619,234 730,604 $ 10,685,590 $ 11,081,358 |
Schedule of Long Lived Assets by Geographical Areas [Table Text Block] | As at April 30, 2017 2016 Canada $ 6,731,644 $ 7,279,019 United States 34,761 39,583 $ 6,766,405 $ 7,318,602 |
Derivative Financial Instrume27
Derivative Financial Instruments and Risk Management (Tables) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Carrying Fair Value As at April 30, 2017 Amount Fair Value Levels Reference Cash and cash equivalents $ 2,071,019 $ 2,071,019 1 | Carrying Fair Value at April 30, 2016 Amount Fair Value Levels Reference Cash and cash equivalents $ 2,159,738 $ 2,159,738 1 |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Forward contracts April 30, April 30, 2017 2016 Opening balance at the beginning of the year $ – $ – Fair value of forward, at issuance – – Change in fair value of forward contracts since issuance – (47,690 ) Fair value of forward contracts settled during the year – 47,690 Fair value of forward contracts at year end $ – $ – |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Apr. 30, 2017 | |
Schedule of Agreements by Year [Table Text Block] | Office Leases – Office Leases – Total Office Related Party Unrelated Party Leases 2018 $ 75,638 $ 525,129 $ 600,767 2019 75,638 529,362 605,000 2020 – 263,691 263,691 2021 – 6,092 6,092 $ 151,276 $ 1,324,274 $ 1,475,550 |
Loss per common share (Tables)
Loss per common share (Tables) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended April 30, 2017 Per Share Income Shares (1)(2) Amount Basic EPS Income available to common stockholders $ (2,458,515 ) 4,722,724 $ (0.52 ) Effect on dilutive securities (Gain)/Loss from derivative instruments – – Diluted EPS $ (2,458,515 ) 4,722,724 $ (0.52 ) | Year ended April 30, 2016 Per Share Income Shares (1)(2) Amount Basic EPS Income available to common stockholders $ (2,691,595 ) 4,433,402 $ (0.61 ) Effect on dilutive securities (Gain)/Loss from derivative instruments – – Diluted EPS $ (2,691,595 ) 4,433,402 $ (0.61 ) |
Nature of Operations (Narrative
Nature of Operations (Narrative) (Details) | 12 Months Ended |
Apr. 30, 2017shares | |
Nature Of Operations 1 | 768,017 |
Nature Of Operations 2 | 36,984 |
Nature Of Operations 3 | 36,984 |
Nature Of Operations 4 | 590,001 |
Significant Accounting Polici31
Significant Accounting Policies (Narrative) (Details) | 12 Months Ended | |
Apr. 30, 2017USD ($) | Apr. 30, 2017CAD | |
Significant Accounting Policies 17 | $ 1,621,523 | |
Significant Accounting Policies 18 | 50.00% | 50.00% |
Significant Accounting Policies 19 | 888,814 | 888,814 |
Significant Accounting Policies 20 | 812,169 | 812,169 |
Significant Accounting Policies 21 | $ 6,339,717 | |
Significant Accounting Policies 22 | CAD | CAD 6,704,947 | |
Significant Accounting Policies 23 | 2,083,960 | |
Significant Accounting Policies 24 | CAD | 2,083,752 | |
Significant Accounting Policies 25 | 4,914,029 | |
Significant Accounting Policies 26 | CAD | 6,704,947 | |
Significant Accounting Policies 27 | 5,341,481 | |
Significant Accounting Policies 28 | 1,526,926 | |
Significant Accounting Policies 29 | CAD | CAD 2,083,752 | |
Significant Accounting Policies 30 | 1,659,747 | |
Significant Accounting Policies 31 | $ 0 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) | 12 Months Ended |
Apr. 30, 2017USD ($)$ / sharesshares | |
Related Party Transactions 1 | $ 78,386 |
Related Party Transactions 2 | $ 82,288 |
Related Party Transactions 3 | 8,007,004 |
Related Party Transactions 4 | 8,007,004 |
Related Party Transactions 5 | $ 30,591 |
Related Party Transactions 6 | 31,910 |
Related Party Transactions 7 | $ 134,250 |
Related Party Transactions 8 | shares | 454,097 |
Related Party Transactions 9 | $ / shares | $ 2.05 |
Related Party Transactions 10 | $ 930,899 |
Related Party Transactions 11 | $ 32,207 |
Related Party Transactions 12 | shares | 198,000 |
Related Party Transactions 13 | shares | 12,195 |
Common Stock (Narrative) (Detai
Common Stock (Narrative) (Details) - 12 months ended Apr. 30, 2017 | USD ($)moyr$ / sharesshares | CADmoyrshares |
Common Stock 1 | shares | 454,097 | 454,097 |
Common Stock 2 | $ / shares | $ 2.05 | |
Common Stock 3 | $ 930,899 | |
Common Stock 4 | $ 32,206 | |
Common Stock 5 | shares | 25,000 | 25,000 |
Common Stock 6 | shares | 23,500 | 23,500 |
Common Stock 7 | shares | 10,000 | 10,000 |
Common Stock 8 | shares | 10,000 | 10,000 |
Common Stock 9 | shares | 3,500 | 3,500 |
Common Stock 10 | 12.50% | 12.50% |
Common Stock 11 | mo | 42 | 42 |
Common Stock 12 | 986,000 | 986,000 |
Common Stock 13 | $ 2.50 | |
Common Stock 14 | shares | 319,822 | 319,822 |
Common Stock 15 | $ 4.50 | |
Common Stock 16 | 29 | |
Common Stock 17 | 2.50 | |
Common Stock 18 | $ 112,158 | |
Common Stock 19 | 15.00% | 15.00% |
Common Stock 20 | $ 1.54 | |
Common Stock 21 | $ 2.35 | |
Common Stock 22 | $ / shares | $ 1.93 | |
Common Stock 23 | $ 2.12 | |
Common Stock 24 | 0 | 0 |
Common Stock 25 | 0 | 0 |
Common Stock 26 | $ 0 | |
Common Stock 27 | 0 | |
Common Stock 28 | 412,602 | |
Common Stock 29 | 579,614 | |
Common Stock 30 | $ 439,431 | |
Common Stock 31 | yr | 2.01 | 2.01 |
Common Stock 32 | shares | 293,000 | 293,000 |
Common Stock 33 | $ / shares | $ 5 | |
Common Stock 34 | $ 1,465,000 | |
Common Stock 35 | $ 23,161 | |
Common Stock 36 | $ / shares | $ 7.50 | |
Common Stock 37 | 6.00% | 6.00% |
Common Stock 38 | 50.00% | 50.00% |
Common Stock 39 | 3.00% | 3.00% |
Common Stock 40 | $ 35,028 | |
Common Stock 41 | $ 39,472 | |
Common Stock 42 | shares | 45,956 | 45,956 |
Common Stock 43 | 36,539 | 36,539 |
Common Stock 44 | shares | 120,000 | 120,000 |
Common Stock 45 | shares | 86,203 | 86,203 |
Common Stock 46 | shares | 258,613 | 258,613 |
Common Stock 47 | shares | 11,360 | 11,360 |
Common Stock 48 | $ 3.80 | |
Common Stock 49 | CAD | CAD 4.97 | |
Common Stock 50 | $ 43,168 | |
Common Stock 51 | shares | 4,700 | 4,700 |
Common Stock 52 | $ 2.24 | |
Common Stock 53 | CAD | CAD 2.93 | |
Common Stock 54 | $ 10,528 | |
Common Stock 55 | shares | 59,900 | 59,900 |
Common Stock 56 | $ 2.03 | |
Common Stock 57 | CAD | CAD 2.72 | |
Common Stock 58 | $ 121,597 | |
Common Stock 59 | shares | 80,488 | 80,488 |
Common Stock 60 | shares | 59,900 | 59,900 |
Common Stock 61 | 5.00% | 5.00% |
Common Stock 62 | shares | 400,000 | 400,000 |
Common Stock 63 | shares | 500,000 | 500,000 |
Common Stock 64 | 90,453 | 90,453 |
Common Stock 65 | 55,034 | 55,034 |
Common Stock 66 | 24,228 | 24,228 |
Common Stock 67 | 66,225 | 66,225 |
Common Stock 68 | shares | 130,595 | 130,595 |
Common Stock 69 | $ 110,181 | |
Common Stock 70 | $ 189,523 | |
Common Stock 71 | yr | 1.44 | 1.44 |
Common Stock 72 | 1.63 | 1.63 |
Common Stock 73 | $ 319,577 | |
Common Stock 74 | $ 338,912 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) | 12 Months Ended |
Apr. 30, 2017 | |
Income Taxes 1 | 100.00% |
Loss per common share (Narrativ
Loss per common share (Narrative) (Details) | 12 Months Ended |
Apr. 30, 2017 | |
Loss Per Common Share 1 | 888,814 |
Loss Per Common Share 2 | 812,169 |
Schedule of Accounts, Notes, Lo
Schedule of Accounts, Notes, Loans and Financing Receivable (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Significant Accounting Policies Schedule Of Accounts, Notes, Loans And Financing Receivable 1 | $ 547,173 |
Significant Accounting Policies Schedule Of Accounts, Notes, Loans And Financing Receivable 2 | 294,719 |
Significant Accounting Policies Schedule Of Accounts, Notes, Loans And Financing Receivable 3 | 346,689 |
Significant Accounting Policies Schedule Of Accounts, Notes, Loans And Financing Receivable 4 | 612,769 |
Significant Accounting Policies Schedule Of Accounts, Notes, Loans And Financing Receivable 5 | (813,630) |
Significant Accounting Policies Schedule Of Accounts, Notes, Loans And Financing Receivable 6 | (360,315) |
Significant Accounting Policies Schedule Of Accounts, Notes, Loans And Financing Receivable 7 | 80,232 |
Significant Accounting Policies Schedule Of Accounts, Notes, Loans And Financing Receivable 8 | $ 547,173 |
Schedule of Product Warranty Li
Schedule of Product Warranty Liability (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Significant Accounting Policies Schedule Of Product Warranty Liability 1 | $ 61,356 |
Significant Accounting Policies Schedule Of Product Warranty Liability 2 | 73,117 |
Significant Accounting Policies Schedule Of Product Warranty Liability 3 | 0 |
Significant Accounting Policies Schedule Of Product Warranty Liability 4 | 0 |
Significant Accounting Policies Schedule Of Product Warranty Liability 5 | (6,991) |
Significant Accounting Policies Schedule Of Product Warranty Liability 6 | (11,761) |
Significant Accounting Policies Schedule Of Product Warranty Liability 7 | 54,365 |
Significant Accounting Policies Schedule Of Product Warranty Liability 8 | $ 61,356 |
Property, Plant and Equipment (
Property, Plant and Equipment (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Equipment Property, Plant And Equipment 1 | $ 1,036,217 | |
Equipment Property, Plant And Equipment 2 | 967,681 | |
Equipment Property, Plant And Equipment 3 | 68,536 | |
Equipment Property, Plant And Equipment 4 | 993,425 | |
Equipment Property, Plant And Equipment 5 | 986,560 | |
Equipment Property, Plant And Equipment 6 | 6,865 | |
Equipment Property, Plant And Equipment 7 | 230,730 | |
Equipment Property, Plant And Equipment 8 | 200,434 | |
Equipment Property, Plant And Equipment 9 | 30,296 | |
Equipment Property, Plant And Equipment 10 | 173,902 | |
Equipment Property, Plant And Equipment 11 | 162,120 | |
Equipment Property, Plant And Equipment 12 | 11,782 | |
Equipment Property, Plant And Equipment 13 | 118,772 | |
Equipment Property, Plant And Equipment 14 | 110,438 | |
Equipment Property, Plant And Equipment 15 | 8,334 | |
Equipment Property, Plant And Equipment 16 | 2,553,046 | |
Equipment Property, Plant And Equipment 17 | 2,427,233 | |
Equipment Property, Plant And Equipment 18 | $ 125,813 | |
Equipment Property, Plant And Equipment 1 | $ 1,049,179 | |
Equipment Property, Plant And Equipment 2 | 976,511 | |
Equipment Property, Plant And Equipment 3 | 72,668 | |
Equipment Property, Plant And Equipment 4 | 1,008,373 | |
Equipment Property, Plant And Equipment 5 | 1,002,097 | |
Equipment Property, Plant And Equipment 6 | 6,276 | |
Equipment Property, Plant And Equipment 7 | 263,003 | |
Equipment Property, Plant And Equipment 8 | 237,147 | |
Equipment Property, Plant And Equipment 9 | 25,856 | |
Equipment Property, Plant And Equipment 10 | 190,754 | |
Equipment Property, Plant And Equipment 11 | 186,325 | |
Equipment Property, Plant And Equipment 12 | 4,429 | |
Equipment Property, Plant And Equipment 13 | 120,953 | |
Equipment Property, Plant And Equipment 14 | 87,619 | |
Equipment Property, Plant And Equipment 15 | 33,334 | |
Equipment Property, Plant And Equipment 16 | 2,632,262 | |
Equipment Property, Plant And Equipment 17 | 2,489,699 | |
Equipment Property, Plant And Equipment 18 | $ 142,563 |
Schedule of Accounts Payable an
Schedule of Accounts Payable and Accrued Liabilities (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 1 | $ 404,234 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 2 | 407,737 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 3 | 241,883 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 4 | 272,282 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 5 | 607,238 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 6 | 617,589 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 7 | 328,740 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 8 | 343,447 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 9 | 243,433 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 10 | 302,053 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 11 | 1,825,528 |
Accounts Payable And Accrued Liabilities Schedule Of Accounts Payable And Accrued Liabilities 12 | $ 1,943,108 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 12 Months Ended |
Apr. 30, 2017 | |
Common Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 1.39% |
Common Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 1.66% |
Common Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 94.95% |
Common Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 92.48% |
Common Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 3.7 |
Common Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 3.7 |
Common Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7 | 0.00% |
Common Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8 | 0.00% |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 1 | $ 411,781 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 2 | 15.20 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 3 | 114,900 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 4 | 3.72 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 5 | 0 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 6 | 0 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 7 | (66,216) |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 8 | 8.87 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 9 | (49,735) |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 10 | 15.63 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 11 | 410,730 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 12 | 12.99 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 13 | 125,000 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 14 | 2.38 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 15 | 0 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 16 | 0 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 17 | (49,268) |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 18 | 4.16 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 19 | (89,540) |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 20 | 7.59 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 21 | 396,922 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 22 | 2.46 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 23 | 221,739 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 24 | 2.49 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 25 | 236,795 |
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 26 | $ 16.77 |
Disclosure of Share-based Compe
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $ 2.03 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | 10,000 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 2.40 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 60,000 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 8 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 9 | 11,250 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 10 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | 2.41 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 51,656 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 13 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 14 | 17,333 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 15 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 16 | 2.46 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 17 | 25,000 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 18 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 19 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 20 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 21 | 2.50 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 22 | 250,266 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 23 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 24 | 193,156 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 25 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 26 | 396,922 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 27 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 28 | 221,739 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 29 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 30 | 410,730 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 31 | 0 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 32 | 236,795 |
Common Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 33 | $ 0 |
Schedule of Nonvested Performan
Schedule of Nonvested Performance-based Units Activity (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Common Stock Schedule Of Nonvested Performance-based Units Activity 1 | $ 201,237 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 2 | 6.20 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 3 | 114,900 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 4 | 2.35 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 5 | (83,318) |
Common Stock Schedule Of Nonvested Performance-based Units Activity 6 | 6.96 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 7 | (58,884) |
Common Stock Schedule Of Nonvested Performance-based Units Activity 8 | 4.79 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 9 | 173,935 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 10 | 4.15 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 11 | 125,000 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 12 | 1.54 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 13 | (84,833) |
Common Stock Schedule Of Nonvested Performance-based Units Activity 14 | 4.86 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 15 | (38,919) |
Common Stock Schedule Of Nonvested Performance-based Units Activity 16 | 1.95 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 17 | 175,183 |
Common Stock Schedule Of Nonvested Performance-based Units Activity 18 | $ 3.49 |
Schedule of Employee and Non-Em
Schedule of Employee and Non-Employee Service Share-based Compensation Allocation of Recognized Period Costs (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 1 | $ 97,434 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 2 | 68,259 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 3 | 172,367 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 4 | 253,913 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 5 | 102,975 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 6 | 80,228 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 7 | 166,713 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 8 | 180,536 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 9 | 539,489 |
Common Stock Schedule Of Employee And Non-employee Service Share-based Compensation Allocation Of Recognized Period Costs 10 | $ 582,936 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | $ 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | $ 146,500 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | 7.50 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | $ 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 7 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 8 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 9 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 10 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 11 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 12 | $ 146,500 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 13 | 7.50 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 14 | $ 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 15 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 16 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 17 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 18 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 19 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 20 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 21 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 22 | 0 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 23 | $ 146,500 |
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 24 | 7.50 |
Schedule of Stockholders Equity
Schedule of Stockholders Equity Deferred Share Unit Plan (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 1 | $ 199,905 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 2 | 11 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 3 | 55,034 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 4 | 5.20 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 5 | 0 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 6 | 0 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 7 | 254,939 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 8 | 9.79 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 9 | 90,453 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 10 | 2.40 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 11 | 0 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 12 | 0 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 13 | 345,392 |
Common Stock Schedule Of Stockholders Equity Deferred Share Unit Plan 14 | $ 7.85 |
Schedule of Stockholders Equi47
Schedule of Stockholders Equity Non Vested Deferred Share Units (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Common Stock Schedule Of Stockholders Equity Non Vested Deferred Share Units 1 | $ 0 |
Common Stock Schedule Of Stockholders Equity Non Vested Deferred Share Units 2 | 0 |
Common Stock Schedule Of Stockholders Equity Non Vested Deferred Share Units 3 | 0 |
Common Stock Schedule Of Stockholders Equity Non Vested Deferred Share Units 4 | 1,633 |
Common Stock Schedule Of Stockholders Equity Non Vested Deferred Share Units 5 | 296,429 |
Common Stock Schedule Of Stockholders Equity Non Vested Deferred Share Units 6 | 322,345 |
Common Stock Schedule Of Stockholders Equity Non Vested Deferred Share Units 7 | 296,429 |
Common Stock Schedule Of Stockholders Equity Non Vested Deferred Share Units 8 | $ 323,978 |
Schedule of Allocation of Share
Schedule of Allocation of Share Based Compensation Costs for Deferred Share Units (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 1 | $ 25,169 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 2 | 14.60 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 3 | 55,034 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 4 | 5.20 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 5 | (41,681) |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 6 | 8.13 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 7 | 38,522 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 8 | 8.15 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 9 | 90,453 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 10 | 2.40 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 11 | (82,758) |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 12 | 3.86 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 13 | 46,217 |
Common Stock Schedule Of Allocation Of Share Based Compensation Costs For Deferred Share Units 14 | $ 4.58 |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 1 | $ 19,378,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 2 | 18,796,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 3 | 227,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 4 | 247,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 5 | 164,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 6 | 242,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 7 | 39,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 8 | 64,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 9 | 29,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 10 | 186,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 11 | 2,837,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 12 | 3,084,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 13 | 413,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 14 | 490,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 15 | 405,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 16 | 410,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 17 | 313,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 18 | (1,115,000) |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 19 | (23,805,000) |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 20 | (22,404,000) |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 21 | 0 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 22 | $ 0 |
Schedule of Components of Incom
Schedule of Components of Income Tax Expense (Benefit) (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 1 | $ (836,000) |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 2 | (915,000) |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 3 | (38,000) |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 4 | (34,000) |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 5 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 6 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 7 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 8 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 9 | 289,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 10 | 295,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 11 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 12 | 104,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 13 | (818,000) |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 14 | 384,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 15 | 2,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 16 | (2,026,000) |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 17 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 18 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 19 | 1,401,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 20 | 2,192,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 21 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 22 | $ 0 |
Summary of Operating Loss Carry
Summary of Operating Loss Carryforwards (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Income Taxes Summary Of Operating Loss Carryforwards 1 | $ 47,730,000 |
Income Taxes Summary Of Operating Loss Carryforwards 2 | $ 17,762,732 |
Summary of Positions for which
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 1 | $ 10,563 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 2 | 25,631 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 3 | 0 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 4 | 0 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 5 | 0 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 6 | 0 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 7 | 0 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 8 | 0 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 9 | (800) |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 10 | (15,068) |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 11 | 9,763 |
Income Taxes Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible 12 | $ 10,563 |
Schedule of Revenue from Extern
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 1 | $ 6,220,367 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 2 | 7,192,010 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 3 | 2,802,629 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 4 | 2,459,541 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 5 | 1,043,360 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 6 | 699,203 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 7 | 619,234 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 8 | 730,604 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 9 | 10,685,590 |
Segmented Information Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area 10 | $ 11,081,358 |
Schedule of Long Lived Assets b
Schedule of Long Lived Assets by Geographical Areas (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Segmented Information Schedule Of Long Lived Assets By Geographical Areas 1 | $ 6,731,644 |
Segmented Information Schedule Of Long Lived Assets By Geographical Areas 2 | 7,279,019 |
Segmented Information Schedule Of Long Lived Assets By Geographical Areas 3 | 34,761 |
Segmented Information Schedule Of Long Lived Assets By Geographical Areas 4 | 39,583 |
Segmented Information Schedule Of Long Lived Assets By Geographical Areas 5 | 6,766,405 |
Segmented Information Schedule Of Long Lived Assets By Geographical Areas 6 | $ 7,318,602 |
Fair Value, Assets Measured on
Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Derivative Financial Instruments And Risk Management Fair Value, Assets Measured On Recurring Basis 1 | $ 2,071,019 | |
Derivative Financial Instruments And Risk Management Fair Value, Assets Measured On Recurring Basis 2 | $ 2,071,019 | |
Derivative Financial Instruments And Risk Management Fair Value, Assets Measured On Recurring Basis 1 | $ 2,159,738 | |
Derivative Financial Instruments And Risk Management Fair Value, Assets Measured On Recurring Basis 2 | $ 2,159,738 |
Fair Value, Liabilities Measure
Fair Value, Liabilities Measured on Recurring Basis (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 1 | $ 0 |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 2 | 0 |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 3 | 0 |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 4 | 0 |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 5 | 0 |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 6 | (47,690) |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 7 | 0 |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 8 | 47,690 |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 9 | 0 |
Derivative Financial Instruments And Risk Management Fair Value, Liabilities Measured On Recurring Basis 10 | $ 0 |
Schedule of Agreements by Year
Schedule of Agreements by Year (Details) | 12 Months Ended |
Apr. 30, 2017USD ($) | |
Commitments Schedule Of Agreements By Year 1 | $ 75,638 |
Commitments Schedule Of Agreements By Year 2 | 525,129 |
Commitments Schedule Of Agreements By Year 3 | 600,767 |
Commitments Schedule Of Agreements By Year 4 | 75,638 |
Commitments Schedule Of Agreements By Year 5 | 529,362 |
Commitments Schedule Of Agreements By Year 6 | 605,000 |
Commitments Schedule Of Agreements By Year 7 | 0 |
Commitments Schedule Of Agreements By Year 8 | 263,691 |
Commitments Schedule Of Agreements By Year 9 | 263,691 |
Commitments Schedule Of Agreements By Year 10 | 0 |
Commitments Schedule Of Agreements By Year 11 | 6,092 |
Commitments Schedule Of Agreements By Year 12 | 6,092 |
Commitments Schedule Of Agreements By Year 13 | 151,276 |
Commitments Schedule Of Agreements By Year 14 | 1,324,274 |
Commitments Schedule Of Agreements By Year 15 | $ 1,475,550 |
Schedule of Earnings Per Share,
Schedule of Earnings Per Share, Basic and Diluted (Details) | 12 Months Ended | |
Apr. 30, 2017USD ($) | Apr. 30, 2016USD ($) | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 1 | $ (2,458,515) | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 2 | $ 4,722,724 | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 3 | (0.52) | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 4 | $ 0 | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 5 | 0 | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 6 | (2,458,515) | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 7 | $ 4,722,724 | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 8 | (0.52) | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 1 | $ (2,691,595) | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 2 | $ 4,433,402 | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 3 | (0.61) | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 4 | $ 0 | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 5 | 0 | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 6 | (2,691,595) | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 7 | $ 4,433,402 | |
Loss Per Common Share Schedule Of Earnings Per Share, Basic And Diluted 8 | (0.61) |