Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Apr. 30, 2014 | Jul. 28, 2014 | Oct. 31, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Apr-14 | ' | ' |
Entity Registrant Name | 'ASPEN GROUP, INC. | ' | ' |
Entity Central Index Key | '0001487198 | ' | ' |
Current Fiscal Year End Date | '--04-30 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 75,113,869 | ' |
Entity Public Float | ' | ' | $11 |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Current assets: | ' | ' |
Cash and cash equivalents | $247,380 | $724,982 |
Restricted cash | 868,298 | 265,173 |
Accounts receivable, net of allowance of $221,537 and $72,535 respectively | 649,890 | 364,788 |
Prepaid expenses | 45,884 | 165,426 |
Net assets from discontinued operations (Note 1) | 5,250 | 113,822 |
Total current assets | 1,816,702 | 1,634,191 |
Property and equipment: | ' | ' |
Call center equipment | 122,653 | 121,313 |
Computer and office equipment | 66,118 | 61,036 |
Furniture and fixtures | 36,446 | 32,914 |
Library (online) | 100,000 | 100,000 |
Software | 1,894,215 | 1,518,142 |
Total | 2,219,432 | 1,833,405 |
Less accumulated depreciation and amortization | -938,703 | -569,665 |
Total property and equipment, net | 1,280,729 | 1,263,740 |
Courseware, net | 108,882 | 208,095 |
Accounts receivable, secured - related party, net of allowance of $625,963 and $502,315 respectively | 146,831 | 270,478 |
Debt issuance costs, net | 205,515 | ' |
Other assets | 25,181 | 25,181 |
Total assets | 3,583,840 | 3,401,685 |
Current liabilities: | ' | ' |
Accounts payable | 454,783 | 313,405 |
Accrued expenses | 143,975 | 128,569 |
Deferred revenue | 653,518 | 904,590 |
Refunds Due Students | 288,121 | 253,883 |
Loan payable to stockholder | 491 | 491 |
Deferred rent, current portion | 13,699 | 10,418 |
Convertible notes payable, current portion | 175,000 | 200,000 |
Debenture payable, net of discounts of $452,771 | 1,787,229 | ' |
Net liabilities from discontinued operations (Note 1) | ' | 124,504 |
Total current liabilities | 3,516,816 | 1,935,860 |
Line of credit | 244,175 | 250,000 |
Loan payable officer - related party | 1,000,000 | ' |
Convertible notes payable - related party | 600,000 | 600,000 |
Deferred rent | 7,751 | 21,450 |
Total liabilities | 5,368,742 | 2,807,310 |
Commitments and contingencies - See Note 10 | ' | ' |
Stockholders' equity (deficiency): | ' | ' |
Common stock, $0.001 par value; 120,000,000 shares authorized, 73,414,478 issued and 73,214,478 outstanding at April 30,2014 58,573,222 issued and 58,373,222 outstanding at April 30, 2013 | 73,414 | 58,573 |
Additional paid-in capital | 16,302,118 | 13,345,888 |
Treasury stock (200,000 shares) | -70,000 | -70,000 |
Accumulated deficit | -18,090,434 | -12,740,086 |
Total stockholders' equity (deficiency) | -1,784,902 | 594,375 |
Total liabilities and stockholders' equity (deficiency) | $3,583,840 | $3,401,685 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Assets | ' | ' |
Allowance for doubtful accounts, current accounts receivables | $221,537 | $72,535 |
Allowance for doubtful accounts, noncurrent accounts receivables | 625,963 | 502,315 |
Liabilities | ' | ' |
Debenture payable current, discount | $452,771 | ' |
Stockholders' Equity: | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 120,000,000 | 120,000,000 |
Common stock, shares issued | 73,414,478 | 58,573,222 |
Common stock, shares outstanding | 73,214,478 | 58,373,222 |
Treasury stock, shares | 200,000 | 200,000 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 4 Months Ended | 12 Months Ended | ||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | |
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract] | ' | ' | ' | ' |
Revenues | $1,229,096 | $745,656 | $3,981,722 | $2,684,931 |
Operating expenses | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation and amortization shown separately below) | 749,930 | 865,408 | 1,859,764 | 2,068,812 |
General and administrative | 1,670,812 | 2,123,685 | 6,300,229 | 5,508,507 |
Receivable collateral valuation reserve | ' | ' | 123,647 | 502,315 |
Depreciation and amortization | 159,269 | 121,812 | 474,752 | 397,923 |
Total costs and expenses | 2,580,011 | 3,110,905 | 8,758,392 | 8,477,557 |
Operating loss from continuing operations | -1,350,915 | -2,365,249 | -4,776,670 | -5,792,626 |
Other income (expense): | ' | ' | ' | ' |
Interest income | 330 | 672 | 1,035 | 4,592 |
Interest expense | -6,737 | -2,934 | -659,997 | -364,889 |
Gain on disposal of property and equipment | ' | 5,879 | ' | 5,879 |
Other Income | 66,267 | ' | 621 | ' |
Total other expense | 59,860 | 3,617 | -658,341 | -354,418 |
Loss from continuing operations before income taxes | -1,291,055 | -2,361,632 | -5,435,011 | -6,147,044 |
Income tax expense (benefit) | ' | ' | ' | ' |
Loss from continuing operations | -1,291,055 | -2,361,632 | -5,435,011 | -6,147,044 |
Discontinued operations (Note 1) | ' | ' | ' | ' |
Income (loss) from discontinued operations, net of income taxes | -111,927 | 148,513 | 84,663 | 136,310 |
Net loss | -1,402,982 | -2,213,119 | -5,350,348 | -6,010,734 |
Cumulative preferred stock dividends | ' | -37,379 | ' | -37,379 |
Net loss allocable to common stockholders | ($1,402,982) | ($2,250,498) | ($5,350,348) | ($6,048,113) |
Loss per share from continuing operations - basic and diluted | ($0.02) | ($0.11) | ($0.09) | ($0.17) |
Income per share from discontinued operations - basic and diluted | $0 | $0.01 | $0 | $0 |
Net loss per share allocable to common stockholders - basic and diluted | ($0.03) | ($0.11) | ($0.09) | ($0.17) |
Weighted average number of common shares outstanding: | ' | ' | ' | ' |
Basic and diluted | 56,089,884 | 21,135,361 | 62,031,861 | 35,316,681 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) (USD $) | Total | Preferred Stock Series B [Member] | Preferred Stock Series C [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Treasury Stock [Member] | Accumulated Deficit [Member] |
Beginning balance at Dec. 31, 2011 | ($2,027,561) | $368 | $11,307 | $11,838 | $3,275,296 | ' | ($5,326,370) |
Beginning balance, shares at Dec. 31, 2011 | ' | 368,411 | 11,307,450 | 11,837,930 | ' | ' | ' |
Conversion of all preferred shares into common shares | 3,469,985 | -368 | -11,307 | 13,677 | 3,467,983 | ' | ' |
Conversion of all preferred shares into common shares, shares | ' | -368,411 | -11,307,450 | 13,677,274 | ' | ' | ' |
Recapitalization | -20,869 | ' | ' | 9,760 | -30,629 | ' | ' |
Recapitalization, shares | ' | ' | ' | 9,760,000 | ' | ' | ' |
Conversion of convertible notes into common shares | 1,775,825 | ' | ' | 5,293 | 1,770,532 | ' | ' |
Conversion of convertible notes into common shares, shares | ' | ' | ' | 5,293,152 | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs | 3,025,236 | ' | ' | 9,920 | 3,015,316 | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs, shares | ' | ' | ' | 9,920,000 | ' | ' | ' |
Issuance of common shares and warrants to settle accrued interest | 70,654 | ' | ' | 203 | 70,451 | ' | ' |
Issuance of common shares and warrants to settle accrued interest, shares | ' | ' | ' | 202,446 | ' | ' | ' |
Treasury shares acquired for cash | -202,000 | ' | ' | -264 | -131,736 | -70,000 | ' |
Treasury shares acquired for cash, shares | ' | ' | ' | -264,000 | ' | ' | ' |
Issuance of common shares for services | 70,000 | ' | ' | 200 | 69,800 | ' | ' |
Issuance of common shares for services, shares | ' | ' | ' | 200,000 | ' | ' | ' |
Issuance of common shares and warrants for services | 43,000 | ' | ' | 100 | 42,900 | ' | ' |
Issuance of common shares and warrants for services, shares | ' | ' | ' | 100,000 | ' | ' | ' |
Issuance of stock options to officers to settle accrued payroll | 238,562 | ' | ' | ' | 238,562 | ' | ' |
Issuance of stock options to officers to settle note payable | 22,000 | ' | ' | ' | 22,000 | ' | ' |
Stock-based compensation | 347,657 | ' | ' | ' | 347,657 | ' | ' |
Shares issued for price protection | ' | ' | ' | 4,517 | -4,517 | ' | ' |
Shares issued for price protection, shares | ' | ' | ' | 4,516,917 | ' | ' | ' |
Net loss | -6,010,734 | ' | ' | ' | ' | ' | -6,010,734 |
Ending balance at Dec. 31, 2012 | 801,755 | ' | ' | 55,244 | 12,153,615 | -70,000 | -11,337,104 |
Ending balance, shares at Dec. 31, 2012 | ' | ' | ' | 55,243,719 | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs | 1,041,540 | ' | ' | 3,329 | 1,038,211 | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs, shares | ' | ' | ' | 3,329,503 | ' | ' | ' |
Stock-based compensation | 154,062 | ' | ' | ' | 154,062 | ' | ' |
Net loss | -1,402,982 | ' | ' | ' | ' | ' | -1,402,982 |
Ending balance at Apr. 30, 2013 | 594,375 | ' | ' | 58,573 | 13,345,888 | -70,000 | -12,740,086 |
Ending balance, shares at Apr. 30, 2013 | 58,373,222 | ' | ' | 58,573,222 | ' | ' | ' |
Issuance of common shares for services | 216,000 | ' | ' | 617 | 215,383 | ' | ' |
Issuance of common shares for services, shares | ' | ' | ' | 617,143 | ' | ' | ' |
Offering cost for professional services from private placement | -48,240 | ' | ' | ' | -48,240 | ' | ' |
Stock-based compensation | 608,429 | ' | ' | ' | 608,429 | ' | ' |
Warrants issued in financing | 483,881 | ' | ' | ' | 483,881 | ' | ' |
Warrants exercised | 804,049 | ' | ' | 7,006 | 797,043 | ' | ' |
Warrants exercised, shares | ' | ' | ' | 7,006,064 | ' | ' | ' |
Warrant Modification | 156,952 | ' | ' | ' | 156,952 | ' | ' |
Shares issued for price protection | ' | ' | ' | 3,271 | -3,271 | ' | ' |
Shares issued for price protection, shares | ' | ' | ' | 3,270,678 | ' | ' | ' |
Issuance of common shares for cash | 750,000 | ' | ' | 3,947 | 746,053 | ' | ' |
Issuance of common shares for cash, shares | ' | ' | ' | 3,947,371 | ' | ' | ' |
Net loss | -5,350,348 | ' | ' | ' | ' | ' | -5,350,348 |
Ending balance at Apr. 30, 2014 | ($1,784,902) | ' | ' | $73,414 | $16,302,118 | ($70,000) | ($18,090,434) |
Ending balance, shares at Apr. 30, 2014 | 73,214,478 | ' | ' | 73,414,478 | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CHA1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) (Parenthetical) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended | |
Feb. 28, 2013 | Dec. 30, 2012 | Apr. 30, 2013 | Dec. 31, 2012 | |
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) [Abstract] | ' | ' | ' | ' |
Offering costs | $45,630 | $184,663 | $123,788 | $446,764 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 4 Months Ended | 12 Months Ended | ||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | |
Cash flows from operating activities: | ' | ' | ' | ' |
Net loss | ($1,402,982) | ($2,213,119) | ($5,350,348) | ($6,010,734) |
Less income (loss) from discontinued operations | -111,927 | 148,513 | 84,663 | 136,310 |
Loss from continuing operations | -1,291,055 | -2,361,632 | -5,435,011 | -6,147,044 |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' | ' |
Bad debt expense | 37,000 | 32,955 | 154,732 | 133,907 |
Receivable collateral valuation reserve | ' | ' | 123,647 | 502,315 |
Amortization of debt issuance costs | ' | ' | 131,657 | 266,473 |
Amortization of debt discount | ' | ' | 294,640 | ' |
Gain on disposal of property and equipment | ' | -5,879 | ' | -5,879 |
Depreciation and amortization | 159,269 | 121,812 | 474,752 | 397,923 |
Loss on settlement of accrued interest | ' | 3,339 | ' | 3,339 |
Issuance of convertible notes in exchange for services rendered | ' | 38,175 | ' | 38,175 |
Stock-based compensation | 154,062 | 81,605 | 608,429 | 347,657 |
Warrant modification expense | ' | ' | 156,952 | ' |
Common shares and warrants issued for services rendered | ' | ' | 285,084 | 113,000 |
Changes in operating assets and liabilities, net of effects of acquisition: | ' | ' | ' | ' |
Accounts receivable | -288,117 | -30,001 | -439,834 | -327,524 |
Prepaid expenses | 27,107 | -44,683 | 50,456 | -89,265 |
Other current assets | 69,000 | 210 | ' | -68,790 |
Other assets | ' | ' | ' | -18,622 |
Accounts payable | 97,609 | 727,214 | 141,378 | -186,701 |
Accrued expenses | 52,658 | 191,532 | 15,405 | 252,771 |
Deferred rent | 10,593 | -1,073 | -10,418 | -4,291 |
Title IV funds in transit | ' | ' | 34,238 | ' |
Deferred revenue | 121,933 | 114,162 | -251,071 | 200,846 |
Other current liabilities | -69,000 | ' | ' | 69,000 |
Net cash used in operating activities | -918,941 | -1,132,264 | -3,664,964 | -4,522,710 |
Cash flows from investing activities: | ' | ' | ' | ' |
Cash acquired as part of merger | ' | -378 | ' | 337 |
Purchases of property and equipment | -166,214 | -200,933 | -386,027 | -479,846 |
Purchases of courseware | ' | -8,200 | -6,500 | -25,300 |
Increase in restricted cash | -181 | ' | -603,125 | -264,992 |
Proceeds received from officer loan repayments | ' | 150,000 | ' | 150,000 |
Net cash used in investing activities | -166,395 | -59,511 | -995,652 | -619,801 |
Cash flows from financing activities: | ' | ' | ' | ' |
Proceeds from (repayments on) line of credit, net | ' | -8,215 | ' | 16,785 |
Proceeds from issuance of common shares and warrants, net | 1,041,540 | ' | 750,000 | 3,025,236 |
Principal payments on notes payable | ' | ' | -25,000 | ' |
Proceeds received from issuance of convertible notes and warrants | ' | 1,059,000 | 1,639,298 | 1,706,000 |
Proceeds from related party for convertible notes | ' | ' | ' | 600,000 |
Proceeds from related party for note | ' | ' | 1,000,000 | ' |
Disbursements for debt issuance costs | ' | -112,020 | -48,240 | -266,473 |
Proceeds from warrant exercise | ' | ' | 804,049 | ' |
Payments for line of credit | ' | ' | -5,824 | ' |
Proceeds from note payable | ' | ' | ' | 22,000 |
Disbursements to purchase treasury shares | ' | ' | ' | -202,000 |
Net cash provided by financing activities | 1,041,540 | 938,765 | 4,114,283 | 4,901,548 |
Cash flows from discontinued operations: | ' | ' | ' | ' |
Cash flows from operating activities | 191,540 | 78,398 | 68,731 | 51,599 |
Net cash provided by discontinued operations | 191,540 | 78,398 | 68,731 | 51,599 |
Net increase (decrease) in cash and cash equivalents | 147,744 | -174,612 | -477,602 | -189,364 |
Cash and cash equivalents at beginning of period | 577,238 | 766,602 | 724,982 | 766,602 |
Cash and cash equivalents at end of period | 724,982 | 591,990 | 247,380 | 577,238 |
Supplemental disclosure of cash flow information: | ' | ' | ' | ' |
Cash paid for interest | 1,494 | 2,681 | ' | 273,781 |
Cash paid for income taxes | ' | ' | ' | ' |
Supplemental disclosure of non-cash investing and financing activities: | ' | ' | ' | ' |
Conversion of all preferred shares into common shares | ' | 3,469,985 | ' | 3,469,985 |
Conversion of convertible notes payable into common shares | ' | 20,000 | ' | 1,775,825 |
Issuance of stock options to officers to settle accrued payroll | ' | ' | ' | 238,562 |
Conversion of loans payable to convertible notes payable | ' | 200,000 | ' | 200,000 |
Issuance of common shares and warrants to settle accrued interest | ' | ' | ' | 70,654 |
Issuance of stock options to officers to settle note payable | ' | 22,000 | ' | 22,000 |
Liabilities assumed in recapitalization | ' | 21,206 | ' | 21,206 |
Settlement of notes payable by disposal of property and equipment | ' | 15,151 | ' | 15,151 |
Issuance of convertible notes payable to pay accounts payable | ' | 11,650 | ' | 11,650 |
Issuance of common shares for prepaid services | ' | ' | 216,000 | ' |
Warrant value recorded as debt issue cost | ' | ' | 94,316 | ' |
Warrant value recorded as debt discount | ' | ' | $389,565 | ' |
Nature_of_Operations_and_Liqui
Nature of Operations and Liquidity | 12 Months Ended | ||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||
Nature of Operations and Liquidity [Abstract] | ' | ||||||||||||||||
Nature of Operations and Liquidity | ' | ||||||||||||||||
Note 1. Nature of Operations and Liquidity | |||||||||||||||||
Overview | |||||||||||||||||
Aspen Group, Inc. (together with its subsidiaries, the "Company" or "Aspen") was founded in Colorado in 1987 as the International School of Information Management. On September 30, 2004, it was acquired by Higher Education Management Group, Inc. ("HEMG") and changed its name to Aspen University Inc. On March 13, 2012, the Company was recapitalized in a reverse merger (See Note 12). All references to the Company or Aspen before March 13, 2012 are to Aspen University, Inc. ("Aspen University"). | |||||||||||||||||
On April 5, 2013, the Company gave 120-day notice to CLS 123, LLC of its intent to terminate the agreement between the Company and CLS 123, LLC dated November 9, 2011. Moreover, at the end of the 120-day period, the Company shall no longer be offering the "Certificate in Information Technology with a specialization in Smart Home Integration" program. Accordingly, the activities related to CLS (or the "Smart Home Integration Certificate" program) are treated as discontinued operations. As this component of the business was not sold, there was no gain or loss on the disposition of this component (see below "Discontinued Operations"). | |||||||||||||||||
On April 25, 2013, our Board of Directors approved a change in our fiscal year-end from December 31 to April 30, with the change to the calendar year reporting cycle beginning May 1, 2013. Consequently, we filed a Transition Report on Form 10-KT for the four-month transition period ended April 30, 2013. References in this report to fiscal 2012 indicate the calendar year ended December 31, 2012. Financial information in these notes with respect to the four months ended April 30, 2012 is unaudited. | |||||||||||||||||
Aspen University's mission is to offer any motivated college-worthy student the opportunity to receive a high quality, responsibly priced distance-learning education for the purpose of achieving sustainable economic and social benefits for themselves and their families. One of the key differences between Aspen and other publicly-traded, exclusively online, for-profit universities is that approximately 87% of our full-time degree-seeking students (as of April 30, 2014) were enrolled in graduate degree programs (Master or Doctorate degree program). Since 1993, we have been nationally accredited by the Distance Education and Training Council ("DETC"), a national accrediting agency recognized by the U.S. Department of Education (the "DOE"). | |||||||||||||||||
Discontinued Operations | |||||||||||||||||
As of March 31, 2013, the Company decided to discontinue business activities related to its "Certificate in Information Technology with a specialization in Smart Home Integration" program so that it may focus on growing its full-time, degree-seeking student programs, which have higher gross margins. On April 5, 2013, the Company gave 120-day notice to CLS 123, LLC of its intent to terminate the agreement between the Company and CLS 123, LLC dated November 9, 2011. Thus, as of August 3, 2013, the Company is no longer offering the "Certificate in Information Technology with a specialization in Smart Home Integration" program. The termination of the "Smart Home Integration Certificate" program qualifies as a discontinued operation and accordingly the Company has excluded results for this component from its continuing operations in the consolidated statements of operations for all periods presented. The following table shows the results of the "Smart Home Integration Certificate" program component included in the income (loss) from discontinued operations: | |||||||||||||||||
For the year | For the year | ||||||||||||||||
ended | ended | For the | |||||||||||||||
April 30, | December 31, | Four Months Ended April 30, | |||||||||||||||
2014 | 2012 | 2013 | 2012 | ||||||||||||||
(Unaudited) | |||||||||||||||||
Revenues | $ | 549,125 | $ | 2,332,283 | $ | 140,732 | $ | 1,077,875 | |||||||||
Costs and expenses: | |||||||||||||||||
Instructional costs and services | 494,213 | 2,026,928 | 126,659 | 929,362 | |||||||||||||
General and administrative | (29,751 | ) | 169,045 | 126,000 | - | ||||||||||||
Total costs and expenses | 464,462 | 2,195,973 | 252,659 | 929,362 | |||||||||||||
Income (loss) from discontinued operations, net of income taxes | $ | 84,663 | $ | 136,310 | $ | (111,927 | ) | $ | 148,513 | ||||||||
The major classes of assets and liabilities of discontinued operations on the balance sheet are as follows: | |||||||||||||||||
April 30, | April 30, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | $ | - | $ | - | |||||||||||||
Accounts receivable, net of allowance of $481,531 and $295,045, respectively | 5,250 | 113,822 | |||||||||||||||
Other current assets | - | - | |||||||||||||||
Net assets from discontinued operations | $ | 5,250 | $ | 113,822 | |||||||||||||
Liabilities | |||||||||||||||||
Accounts payable | $ | - | $ | 1,178 | |||||||||||||
Accrued expenses | - | 70,201 | |||||||||||||||
Deferred revenue | - | 53,125 | |||||||||||||||
Net liabilities from discontinued operations | $ | - | $ | 124,504 | |||||||||||||
Liquidity | |||||||||||||||||
At April 30, 2014, the Company had a cash balance of approximately $1.1 million which includes $868,000 of restricted cash. In July, 2014, the company completed a financing of $1,631,500 which is part of a total financing of $4,030,000. With the additional cash raised in the financing, the growth in the company revenues and improving operating margins, the Company believes that it has sufficient cash to allow the Company to grow. Management expects that the Company will attain positive cash flow in the quarter ending October 31, 2014. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||
Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Significant Accounting Policies | ' | ||||||||||||||||||||||||
Note 2. Significant Accounting Policies | |||||||||||||||||||||||||
Principles of Consolidation | |||||||||||||||||||||||||
The consolidated financial statements include the accounts of Aspen Group, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. | |||||||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||
The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements. Actual results could differ from those estimates. Significant estimates in the accompanying consolidated financial statements include the allowance for doubtful accounts and other receivables, the valuation of collateral on certain receivables, amortization periods and valuation of courseware and software development costs, valuation of beneficial conversion features in convertible debt, valuation of stock-based compensation, the valuation of net assets and liabilities from discontinued operations and the valuation allowance on deferred tax assets. | |||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||
The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. | |||||||||||||||||||||||||
Restricted Cash | |||||||||||||||||||||||||
Restricted cash represents amounts pledged as security for letters of credit for transactions involving Title IV programs, as well as funds held in escrow. The company considers $868,298 and $265,173 as restricted cash (shown as a current asset as of April 30, 2014 and April 30, 2013 respectively). | |||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||
Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The Company classifies assets and liabilities recorded at fair value under the fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. The fair value measurements are classified under the following hierarchy: | |||||||||||||||||||||||||
· | |||||||||||||||||||||||||
Level 1-Observable inputs that reflect quoted market prices (unadjusted) for identical assets and liabilities in active markets; | |||||||||||||||||||||||||
· | |||||||||||||||||||||||||
Level 2-Observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets and liabilities; and | |||||||||||||||||||||||||
· | |||||||||||||||||||||||||
Level 3-Unobservable inputs that are supported by little or no market activity that are significant to the fair value of assets or liabilities. | |||||||||||||||||||||||||
The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. | |||||||||||||||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts Receivable | |||||||||||||||||||||||||
All students are required to select both a primary and secondary payment option with respect to amounts due to Aspen for tuition, fees and other expenses. The most common payment option for Aspen's students is personal funds or payment made on their behalf by an employer. In instances where a student selects financial aid as the primary payment option, he or she often selects personal cash as the secondary option. If a student who has selected financial aid as his or her primary payment option withdraws prior to the end of a course but after the date that Aspen's institutional refund period has expired, the student will have incurred the obligation to pay the full cost of the course. If the withdrawal occurs before the date at which the student has earned 100% of his or her financial aid, Aspen will have to return all or a portion of the Title IV funds to the DOE and the student will owe Aspen all amounts incurred that are in excess of the amount of financial aid that the student earned and that Aspen is entitled to retain. In this case, Aspen must collect the receivable using the student's second payment option. | |||||||||||||||||||||||||
For accounts receivable from students, Aspen records an allowance for doubtful accounts for estimated losses resulting from the inability, failure or refusal of its students to make required payments, which includes the recovery of financial aid funds advanced to a student for amounts in excess of the student's cost of tuition and related fees. Aspen determines the adequacy of its allowance for doubtful accounts using a general reserve method based on an analysis of its historical bad debt experience, current economic trends, and the aging of the accounts receivable and student status. Aspen applies reserves to its receivables based upon an estimate of the risk presented by the age of the receivables and student status. Aspen writes off accounts receivable balances at the time the balances are deemed uncollectible. Aspen continues to reflect accounts receivable with an offsetting allowance as long as management believes there is a reasonable possibility of collection. | |||||||||||||||||||||||||
For accounts receivable from primary payors other than students, Aspen estimates its allowance for doubtful accounts by evaluating specific accounts where information indicates the customers may have an inability to meet financial obligations, such as bankruptcy proceedings and receivable amounts outstanding for an extended period beyond contractual terms. In these cases, Aspen uses assumptions and judgment, based on the best available facts and circumstances, to record a specific allowance for those customers against amounts due to reduce the receivable to the amount expected to be collected. These specific allowances are re-evaluated and adjusted as additional information is received. The amounts calculated are analyzed to determine the total amount of the allowance. Aspen may also record a general allowance as necessary. | |||||||||||||||||||||||||
Direct write-offs are taken in the period when Aspen has exhausted its efforts to collect overdue and unpaid receivables or otherwise evaluate other circumstances that indicate that Aspen should abandon such efforts. | |||||||||||||||||||||||||
Property and Equipment | |||||||||||||||||||||||||
Property and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets per the following table. | |||||||||||||||||||||||||
Category | Depreciation Term | ||||||||||||||||||||||||
Call center equipment | 5 years | ||||||||||||||||||||||||
Computer and office equipment | 5 years | ||||||||||||||||||||||||
Furniture and fixtures | 7 years | ||||||||||||||||||||||||
Library (online) | 3 years | ||||||||||||||||||||||||
Software | 5 years | ||||||||||||||||||||||||
Costs incurred to develop internal-use software during the preliminary project stage are expensed as incurred. Internal-use software development costs are capitalized during the application development stage, which is after: (i) the preliminary project stage is completed; and (ii) management authorizes and commits to funding the project and it is probable the project will be completed and used to perform the function intended. Capitalization ceases at the point the software project is substantially complete and ready for its intended use, and after all substantial testing is completed. Upgrades and enhancements are capitalized if it is probable that those expenditures will result in additional functionality. Amortization is provided for on a straight-line basis over the expected useful life of five years of the internal-use software development costs and related upgrades and enhancements. When existing software is replaced with new software, the unamortized costs of the old software are expensed when the new software is ready for its intended use. | |||||||||||||||||||||||||
Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or the estimated useful lives of the assets. | |||||||||||||||||||||||||
Upon the retirement or disposition of property and equipment, the related cost and accumulated depreciation and amortization are removed and a gain or loss is recorded in the consolidated statements of operations. Repairs and maintenance costs are expensed in the period incurred. | |||||||||||||||||||||||||
Courseware | |||||||||||||||||||||||||
The Company records the costs of courseware in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 350 "Intangibles - Goodwill and Other". | |||||||||||||||||||||||||
Generally, costs of courseware are capitalized whereas costs for upgrades and enhancements are expensed as incurred. Courseware is stated at cost less accumulated amortization. Amortization is provided for on a straight-line basis over the expected useful life of five years. | |||||||||||||||||||||||||
Long-Lived Assets | |||||||||||||||||||||||||
The Company assesses potential impairment to its long-lived assets when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Events and circumstances considered by the Company in determining whether the carrying value of identifiable intangible assets and other long-lived assets may not be recoverable include, but are not limited to: significant changes in performance relative to expected operating results, significant changes in the use of the assets, significant negative industry or economic trends, a significant decline in the Company's stock price for a sustained period of time, and changes in the Company's business strategy. An impairment loss is recorded when the carrying amount of the long-lived asset is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset exceeds fair value and is recorded as a reduction in the carrying value of the related asset and an expense to operating results. | |||||||||||||||||||||||||
Refunds Due Students | |||||||||||||||||||||||||
The Company receives Title IV funds from the Department of Education to cover tuition and living expenses. Until forwarded to the student, this amount is captured in a current liability account called Title IV Funds in Transit. Typically, the funds are paid to the students within two weeks. | |||||||||||||||||||||||||
Leases | |||||||||||||||||||||||||
The Company enters into various lease agreements in conducting its business. At the inception of each lease, the Company evaluates the lease agreement to determine whether the lease is an operating or capital lease. Leases may contain initial periods of free rent and/or periodic escalations. When such items are included in a lease agreement, the Company records rent expense on a straight-line basis over the initial term of a lease. The difference between the rent payment and the straight-line rent expense is recorded as a deferred rent liability. The Company expenses any additional payments under its operating leases for taxes, insurance or other operating expenses as incurred. | |||||||||||||||||||||||||
Revenue Recognition and Deferred Revenue | |||||||||||||||||||||||||
Revenues consist primarily of tuition and fees derived from courses taught by the Company online as well as from related educational resources that the Company provides to its students, such as access to our online materials and learning management system. Tuition revenue is recognized pro-rata over the applicable period of instruction. The Company allows a student to make three monthly tuition payments during each 10-week class. The Company maintains an institutional tuition refund policy, which provides for all or a portion of tuition to be refunded if a student withdraws during stated refund periods. Certain states in which students reside impose separate, mandatory refund policies, which override the Company's policy to the extent in conflict. If a student withdraws at a time when a portion or none of the tuition is refundable, then in accordance with its revenue recognition policy, the Company recognizes as revenue the tuition that was not refunded. Since the Company recognizes revenue pro-rata over the term of the course and because, under its institutional refund policy, the amount subject to refund is never greater than the amount of the revenue that has been deferred, under the Company's accounting policies revenue is not recognized with respect to amounts that could potentially be refunded. The Company's educational programs have starting and ending dates that differ from its fiscal quarters. Therefore, at the end of each fiscal quarter, a portion of revenue from these programs is not yet earned and is therefore deferred. The Company also charges students annual fees for library, technology and other services, which are recognized over the related service period. Deferred revenue represents the amount of tuition, fees, and other student payments received in excess of the portion recognized as revenue and it is included in current liabilities in the accompanying consolidated balance sheets. Other revenues may be recognized as sales occur or services are performed. | |||||||||||||||||||||||||
Revenue Recognition and Deferred Revenue - Discontinued Operations | |||||||||||||||||||||||||
The Company enters into certain revenue sharing arrangements with consultants whereby the consultants will develop course content primarily for technology-related courses, recommend, but not select, faculty, lease equipment on behalf of the Company for instructional purposes for the on-site laboratory portion of distance learning courses and make introductions to corporate and government sponsoring organizations that provide students for the courses. The Company has evaluated ASC 605-45 "Principal Agent Considerations" and determined that there are more indicators than not that the Company is the primary obligor in the arrangements since the Company establishes the tuition, interfaces with the student or sponsoring organization, selects the faculty, is responsible for delivering the course, is responsible for issuing any degrees or certificates, and is responsible for collecting the tuition and fees. The gross tuition and fees are included in revenues while the revenue sharing payments are included in instructional costs and services, an operating expense. As a result of presenting this component as discontinued operations, the revenues are now included in income from discontinued operations, net of income taxes for all periods presented (See Note 1). | |||||||||||||||||||||||||
Cost of Revenues | |||||||||||||||||||||||||
Cost of revenues consists of two categories of cost, instructional costs and services, and marketing and promotional costs. | |||||||||||||||||||||||||
Instructional Costs and Services | |||||||||||||||||||||||||
Instructional costs and services consist primarily of costs related to the administration and delivery of the Company's educational programs. This expense category includes compensation costs associated with online faculty, technology license costs and costs associated with other support groups that provide services directly to the students. | |||||||||||||||||||||||||
Marketing and Promotional Costs | |||||||||||||||||||||||||
Marketing and promotional costs include costs associated with purchasing leads, producing marketing materials, and advertising. Such costs are generally affected by the cost of advertising media and leads, the efficiency of the Company's marketing and recruiting efforts, and expenditures on advertising initiatives for new and existing academic programs. Advertising costs consists primarily of marketing leads and other branding and promotional activities. Non-direct response advertising activities are expensed as incurred, or the first time the advertising takes place, depending on the type of advertising activity. | |||||||||||||||||||||||||
General and Administrative | |||||||||||||||||||||||||
General and administrative expenses include compensation of employees engaged in corporate management, finance, human resources, information technology, compliance and other corporate functions. General and administrative expenses also include professional services fees, bad debt expense related to accounts receivable, financial aid processing costs, non-capitalizable courseware and software costs, travel and entertainment expenses and facility costs. | |||||||||||||||||||||||||
Reclassifications | |||||||||||||||||||||||||
For the year ended December 31, 2012, the Company reclassified $273,225, from Cost of Revenues to General and Administrative, both within Operating Expenses: | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Reclassifications | |||||||||||||||||||||||||
Financial | |||||||||||||||||||||||||
As | Dues, | Executive | Aid | ||||||||||||||||||||||
Previously | Fees, & | Consulting | Academic | Processing | As | ||||||||||||||||||||
Reported | Licenses | Expense | Chair | Costs | Reclassified | ||||||||||||||||||||
Operating Expenses: | |||||||||||||||||||||||||
Cost of Revenues | $ | 2,342,037 | (32,234 | ) | (111,927 | ) | (105,500 | ) | (23,564 | ) | $ | 2,068,812 | |||||||||||||
General and administrative | 5,235,282 | 32,234 | 111,927 | 105,500 | 23,564 | 5,508,507 | |||||||||||||||||||
Receivable Collateral Valuation Reserve | 502,315 | 502,315 | |||||||||||||||||||||||
Depreciation and amortization | 397,923 | 397,923 | |||||||||||||||||||||||
Total Operating Expenses | $ | 8,477,557 | $ | 8,477,557 | |||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||
The Company uses the asset and liability method to compute the differences between the tax basis of assets and liabilities and the related financial amounts. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount that more likely than not will be realized. The Company has deferred tax assets and liabilities that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets are subject to periodic recoverability assessments. Realization of the deferred tax assets, net of deferred tax liabilities, is principally dependent upon achievement of projected future taxable income. | |||||||||||||||||||||||||
The Company records a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company accounts for uncertainty in income taxes using a two-step approach for evaluating tax positions. Step one, recognition, occurs when the Company concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination. Step two, measurement, is only addressed if the position is more likely than not to be sustained. Under step two, the tax benefit is measured as the largest amount of benefit, determined on a cumulative probability basis, which is more likely than not to be realized upon ultimate settlement. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. | |||||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||
Stock-based compensation expense is measured at the grant date fair value of the award and is expensed over the requisite service period. For employee stock-based awards, the Company calculates the fair value of the award on the date of grant using the Black-Scholes option pricing model. Determining the fair value of stock-based awards at the grant date under this model requires judgment, including estimating volatility, employee stock option exercise behaviors and forfeiture rates. The assumptions used in calculating the fair value of stock-based awards represent the Company's best estimates, but these estimates involve inherent uncertainties and the application of management judgment. For non-employee stock-based awards, the Company calculates the fair value of the award on the date of grant in the same manner as employee awards, however, the awards are revalued at the end of each reporting period and the prorata compensation expense is adjusted accordingly until such time the non-employee award is fully vested, at which time the total compensation recognized to date shall equal the fair value of the stock-based award as calculated on the measurement date, which is the date at which the award recipient's performance is complete. The estimation of stock-based awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from original estimates, such amounts are recorded as a cumulative adjustment in the period estimates are revised. | |||||||||||||||||||||||||
Net Loss Per Share | |||||||||||||||||||||||||
Net loss per share of common stock is based on the weighted average number of shares outstanding during each year. Options to purchase 10,746,412 shares of common stock, warrants to purchase 23,144,005 shares of common stock, and $775,000 of convertible debt (convertible into 1,225,564 shares of common stock) were outstanding during the year ended April 30, 2014, but were not included in the computation of diluted loss per share because the effects would have been anti-dilutive. Options to purchase 7,614,381 shares of common stock, warrants to purchase 9,090,292 shares of common stock, and $800,000 of convertible debt (convertible into 1,357,143 shares of common stock) were outstanding during the four months ended April 30, 2013, but were not included in the computation of diluted loss per share because the effects would have been anti-dilutive. Options to purchase 6,972,967 shares of common stock, warrants to purchase 8,112,696 shares of common stock, and $800,000 of convertible debt (convertible into 1,357,143 shares of common stock) were outstanding during the year ended December 31, 2012, but were not included in the computation of diluted loss per share because the effects would have been anti-dilutive. The options, warrants and convertible debt are considered to be common stock equivalents and are only included in the calculation of diluted earnings per shares of common stock when their effect is dilutive. | |||||||||||||||||||||||||
Segment Information | |||||||||||||||||||||||||
The Company operates in one reportable segment as a single educational delivery operation using a core infrastructure that serves the curriculum and educational delivery needs of its online students regardless of geography. The Company's chief operating decision makers, its CEO and President, manage the Company's operations as a whole, and no revenue, expense or operating income information is evaluated by the chief operating decision makers on any component level. | |||||||||||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||||||||||
We have implemented all new accounting standards that are in effect and that may impact our consolidated financial statements and do not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our consolidated financial position or results of operations. |
Accounts_Receivable
Accounts Receivable | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Accounts Receivable [Abstract] | ' | ||||||||
Accounts Receivable | ' | ||||||||
Note 3. Accounts Receivable | |||||||||
Accounts receivable consisted of the following at April 30, 2014 and April 30, 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Accounts receivable | $ | 871,427 | $ | 437,323 | |||||
Less: Allowance for doubtful accounts | (221,537 | ) | (72,535 | ) | |||||
Accounts receivable, net | $ | 649,890 | $ | 364,788 | |||||
Bad debt expense for the years ended April 30, 2014, and December 31, 2012, and four months ended April 30, 2013 and 2012, were $154,732, $133,907, $37,000, and $32,955 respectively. |
Secured_Accounts_and_Notes_Rec
Secured Accounts and Notes Receivable - Related Parties | 12 Months Ended |
Apr. 30, 2014 | |
Secured Accounts and Notes Receivable - Related Parties [Abstract] | ' |
Secured Accounts and Notes Receivable - Related Parties | ' |
Note 4. Secured Accounts and Notes Receivable - Related Parties | |
On March 30, 2008 and December 1, 2008, the Company sold courseware pursuant to marketing agreements to HEMG, a related party and principal stockholder of the Company whose president is Mr. Patrick Spada, the former Chairman of the Company, in the amount of $455,000 and $600,000, respectively; UCC filings were filed accordingly. Under the marketing agreements, the receivables were due net 60 months. On September 16, 2011, HEMG pledged 772,793 Aspen Series C preferred shares (automatically converted to 654,850 shares of common stock on March 13, 2012) of the Company as collateral for this account receivable. On March 8, 2012, due to the impending reduction in the value of the collateral as the result of the Series C conversion ratio and Aspen's inability to engage Mr. Spada in good faith negotiations to increase HEMG's pledge, Michael Mathews, Aspen's CEO, pledged 117,943 shares of common stock of Aspen, owned personally by him, valued at $1.00 per share based on recent sales of capital stock as additional collateral to the accounts receivable, secured - related party. On March 13, 2012, Aspen deemed the receivables stemming from the sale of courseware curricula to be in default. On April 4, 2012, the Company entered into an agreement with: (i) an individual, (ii) HEMG, a related party and principal stockholder of the Company whose president is Mr. Patrick Spada, the former Chairman of the Company and (iii) Mr. Patrick Spada. Under the agreement, (a) the individual purchased and HEMG sold to the individual 400,000 shares of common stock of the Company at $0.50 per share; (b) the Company guaranteed it would purchase at least 600,000 shares of common stock of the Company at $0.50 per share within 90 days of the agreement and the Company would use its best efforts to purchase from HEMG and resell to investors an additional 1,400,000 shares of common stock of the Company at $0.50 per share within 180 days of the agreement; (c) provided HEMG and Mr. Patrick Spada fulfilled their obligations under (a) and (b) above, the Company shall consent to additional private transfers by HEMG and/or Mr. Patrick Spada of up to 500,000 shares of common stock of the Company on or before March 13, 2013; (d) HEMG agreed to not sell, pledge or otherwise transfer 142,500 shares of common stock of the Company pending resolution of a dispute regarding the Company's claim that HEMG sold 131,500 shares of common stock of the Company without having enough authorized shares and a stockholder did not receive 11,000 shares of common stock of the Company owed to him as a result of a stock dividend; and (e) the Company waived any default of the accounts receivable, secured - related party and extend the due date to September 30, 2014. However, the Company has elected to show as long term due to the expectation that no collection will occur within 1 year. As of September 30, 2012, third party investors purchased 336,000 shares for $168,000 and the Company purchased 264,000 shares for $132,000 per section (b) above. Based on proceeds received on September 28, 2012 under a private placement at $0.35 per unit (consisting of one share of common stock and one-half of a warrant exercisable at $0.50 per share), the value of the aforementioned collateral decreased. Accordingly, as of December 31, 2012, the Company has recognized an allowance of $502,315 for this account receivable. Based on the reduction in value of the collateral to $0.19, the company recognized an expense of $123,647 during the year ended April 30, 2014. As of April 30, 2014 and April 30, 2013, the balance of the account receivable, net of allowance, was $146,831 and $270,478, respectively. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Property and Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
Note 5. Property and Equipment | |||||||||
Property and equipment consisted of the following at April 30, 2014 and 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Call center | $ | 122,653 | $ | 121,313 | |||||
Computer and office equipment | 66,118 | 61,036 | |||||||
Furniture and fixtures | 36,446 | 32,914 | |||||||
Library (online) | 100,000 | 100,000 | |||||||
Software | 1,894,215 | 1,518,142 | |||||||
2,219,432 | 1,833,405 | ||||||||
Accumulated depreciation and amortization | (938,703 | ) | (569,665 | ) | |||||
Property and equipment, net | $ | 1,280,729 | $ | 1,263,740 | |||||
Depreciation expense for the years ended April 30, 2014, and December 31, 2012, and four months ended April 30, 2013 and 2012, were $369,039, $256,363, $113,794, and $ 73,718 respectively. Accumulated depreciation amounted to $938,703 and $569,665 as of April 30, 2014 and April 30, 2013 respectively. Amortization expense for software, included in the above amounts, for the years ended April 30, 2014, and December 31, 2012, and four months ended April 30, 2013 and 2012, were $334,224, $226,454, $99,855, and $64,192 respectively. Software consisted of the following at April 30, 2014 and April 30, 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Software | $ | 1,894,215 | $ | 1,518,142 | |||||
Accumulated amortization | (720,823 | ) | (386,599 | ) | |||||
Software, net | $ | 1,173,392 | $ | 1,131,543 | |||||
Estimated amortization expense of software is as follows: | |||||||||
Year Ending April 30, | |||||||||
2015 | $ | 378,843 | |||||||
2016 | 377,977 | ||||||||
2017 | 255,265 | ||||||||
2018 | 122,230 | ||||||||
2019 | 39,077 | ||||||||
Total | $ | 1,173,392 |
Courseware
Courseware | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Courseware [Abstract] | ' | ||||||||
Courseware | ' | ||||||||
Note 6. Courseware | |||||||||
Courseware costs capitalized were $6,500 and $25,300 for the years ended April 30, 2014 and December 31, 2012, respectively. No courseware costs were capitalized for the fours month ended April 30, 2013 and courseware costs of $8,200 were capitalized during the four months ended April 30, 2012. | |||||||||
Courseware consisted of the following at April 30, 2014, and 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Courseware | $ | 2,104,038 | $ | 2,097,538 | |||||
Accumulated amortization | (1,995,156 | ) | (1,889,443 | ) | |||||
Courseware, net | $ | 108,882 | $ | 208,095 | |||||
Amortization expense for courseware for the years ended April 30, 2014, and December 31, 2012, and four months ended April 30, 2013 and 2012, were $105,713, $141,560, $45,476, and $48,094 respectively. | |||||||||
Estimated future amortization expense of course curricula as of April 30, 2014 is as follows: | |||||||||
Year Ending April 30, | |||||||||
2015 | $ | 66,317 | |||||||
2016 | 29,030 | ||||||||
2017 | 10,396 | ||||||||
2018 | 2,306 | ||||||||
2019 | 833 | ||||||||
Total | $ | 108,882 |
Accrued_Expenses
Accrued Expenses | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Accrued Expenses [Abstract] | ' | ||||||||
Accrued Expenses | ' | ||||||||
Note 7. Accrued Expenses | |||||||||
Accrued expenses consisted of the following at April 30, 2014 and 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Accrued compensation | $ | - | $ | 44,692 | |||||
Accrued Interest | 84,921 | 28,848 | |||||||
Other accrued expenses | 59,054 | 55,029 | |||||||
Accrued expenses | $ | 143,975 | $ | 128,569 |
Loans_Payable_Related_Party
Loans Payable - Related Party | 12 Months Ended |
Apr. 30, 2014 | |
Loans Payable - Related Party [Abstract] | ' |
Loans Payable - Related Party | ' |
Note 8. Loans Payable - Related Party | |
On June 28, 2013, the Company received $1,000,000 as a loan from the Chief Executive Officer. This loan was for a term of 6 months with an annual interest rate of 10%, payable monthly. On September 25, 2013, as a term of the convertible debenture issued as discussed in Note 9, the maturity of the $1,600,000 owed to the CEO was extended to April 2, 2015. On July 16, 2014, the maturity of the debt to the CEO was extended to January 1, 2016. |
Notes_Payable
Notes Payable | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Notes Payable [Abstract] | ' | ||||||||
Notes Payable | ' | ||||||||
Note 9. Notes Payable | |||||||||
Convertible Notes Payable | |||||||||
On February 25, 2012, February 27, 2012 and February 29, 2012, loans payable to three individuals, of $100,000, $50,000 and $50,000, respectively, were converted into two-year convertible promissory notes, bearing interest of 0.19% per annum. Beginning March 31, 2012, the notes are convertible into shares of common stock of the Company at the rate of $1.00 per share. The Company evaluated the convertible notes and determined that, for the embedded conversion option, there was no beneficial conversion value to record as the conversion price is considered to be the fair market value of the shares of common stock on the note issue dates. These loans (now convertible promissory notes) were originally due February of 2014 and, have been included in short-term liabilities as of April 30, 2014 and 2013. Two of the above mentioned notes were modified in February 2014, see below and one is currently in default. | |||||||||
On February 18, 2014 the company renegotiated the terms of one of the $50,000 convertible notes, specifically the one dated February 27, 2012. The maturity date was extended to December 1, 2014 and the conversion price has been reduced to $0.19 per share. The interest rate has been amended to 3.25% from February 27, 2012. This was treated as a note extinguishment in accordance with ASC 470-50. No gain or loss on extinguishment was recorded and no beneficial conversion feature existed on the modification date. | |||||||||
On February 28, 2014 the company renegotiated the terms of the $100,000 convertible note dated February 25, 2012. A payment was made in the amount of $25,000 on February 28, 2014, reducing the principal to $75,000. Another principal payment of $25,000 will be made on August 1, 2014 and $50,000 on December 1, 2014. The interest rate was raised to 3.25% from February 25, 2012. The conversion price was reduced to $0.19 per share. This was treated as a note extinguishment in accordance with ASC 470-50. No gain or loss on extinguishment was recorded and no beneficial conversion feature existed on the modification date. | |||||||||
On March 13, 2012, the Company's CEO loaned the Company $300,000 and received a convertible note due March 31, 2013, bearing interest at 0.19% per annum. The note is convertible into shares of common stock of the Company at the rate of $1.00 per share upon five days written notice to the Company. The Company evaluated the convertible note and determined that, for the embedded conversion option, there was no beneficial conversion value to record as the conversion price is considered to be the fair market value of the shares of common stock on the note issue date. On September 4, 2012, the maturity date was extended to August 31, 2013. On December 17, 2012, the maturity date was extended to August 31, 2014. On September 25, 2013, the maturity of the debt to the CEO, has been extended to April 5, 2015. On July 16, 2014, the maturity of the debt to the CEO has been extended to January 1, 2016. There was no accounting effect for these modifications. (See Note 15). | |||||||||
On February 29, 2012 (the "Effective Date"), the Company retained the investment bank of Laidlaw & Company (UK) Ltd. ("Laidlaw") on an exclusive basis for the purpose of raising up to $6,000,000 (plus up to an additional $1,200,000 million to cover over-allotments at the option of Laidlaw) through two successive best-efforts private placements of the Company's securities following the reverse merger. Each Unit in the Phase One financing consisted of: (i) senior secured convertible notes (the "Convertible Notes"), bearing 10% interest, convertible into the Company's shares of common stock at the lower of (a) $1.00 or (b) 95% of the per share purchase price of any shares of common stock (or common stock equivalents) issued on or after the original issue date of the note and (ii) five-year warrant to purchase that number of the Company's shares of common stock equal to 25% of the convertible note amount. As of June 30, 2012, the Company, without the assistance of any broker-dealer, raised $150,000 from the sale of 3.0 Units. Laidlaw raised $1,289,527 (net of debt issuance costs of $266,473) from the sale of 31.12 Units (including Convertible Notes payable and an estimated 389,000 warrants). Mandatory conversion was to occur on the initial closing of the Phase Two financing, which occurred September 28, 2012. The Convertible Notes (as extended) had a maturity date of September 30, 2012, carried provisions for price protection and contained registration rights. For the Phase One financing, Laidlaw received a cash fee of 10% of aggregate funds raised along with a five-year warrant (the "Laidlaw Warrant") equal to 10% of the common stock reserved for issuance in connection with the Units. Separately, Laidlaw required an activation fee of $25,000. The Phase Two financing consisted of Units offered at $0.35 per Unit (consisting of one share of common stock and one-half of a warrant exercisable at $0.50 per share. The Convertible Notes embedded conversion options did not qualify as derivatives since the conversion shares were not readily convertible to cash due to an inactive trading market and there was no beneficial conversion value since the conversion price equaled the fair value of the shares. As a result of proceeds received on September 28, 2012 in the Phase Two financing, all of the $1,706,000 (face value) of Convertible Notes were automatically converted into 5,130,795 shares of common stock at the contractual rate of $0.3325 per share. Moreover, the warrants issuable upon conversion of the Convertible Notes became fixed and determinable and caused to be outstanding 426,500 warrants to acquire shares of common stock at $0.3325 per share. In addition, 202,334 shares of common stock and 50,591 five-year warrants exercisable at $0.3325 per share were issued to settle $67,276 of accrued interest on the aforementioned Convertible Notes. Accordingly, a loss of $3,339 was recognized in general and administrative expenses upon settlement (See Note 12). | |||||||||
On May 1, 2012, the Company issued a Convertible Note payable to a consultant in the amount of $49,825 in exchange for past services rendered, of which $38,175 pertains to the nine months ended September 30, 2012. The Note bore interest at 0.19% per annum, had a maturity date of September 30, 2012, and was convertible into the Company's shares of common stock at the lower (a) $1.00 or (b) the per share purchase price of any shares of common stock (or common stock equivalents) issued on or after the original issue date of the note. The Convertible Note embedded conversion options did not qualify as derivatives since the conversion shares were not readily convertible to cash due to an inactive trading market and there was no beneficial conversion value since the conversion price equaled the fair value of the shares. As a result of the private placement closing on September 28, 2012, the $49,825 (face value) convertible note was automatically converted into 142,357 shares of common stock at the contractual rate of $0.35 per share. In addition, 112 shares of common stock were issued to settle $39 of accrued interest on the aforementioned Convertible Note. No gain or loss was recognized upon settlement (See Note 12). | |||||||||
On August 14, 2012, the Company's CEO loaned the Company $300,000 and received a convertible promissory note, payable on demand, bearing interest at 5% per annum. The note is convertible into shares of common stock of the Company at the rate of $0.35 per share (based on proceeds received on September 28, 2012 under a private placement at $0.35 per unit). The Company evaluated the convertible notes and determined that, for the embedded conversion option, there was no beneficial conversion value to record as the conversion price is considered to be the fair market value of the shares of common stock on the note issue date. On September 4, 2012, the maturity date was extended to August 31, 2013. On September 25, 2013, as a term of the convertible debenture issued as discussed further in this Note, the maturity of the debt to the CEO has been extended to April 5, 2015. On July 16, 2014, the maturity of the debt to the CEO has been extended to January 1, 2016. There was no accounting effect for these modifications. (See Note 15). | |||||||||
On September 26, 2013, the Company and an institutional investor (the "Institutional Investor") signed a Securities Purchase Agreement (the "Agreement") with respect to a loan of $2,240,000 evidenced by an 18 month original issue discount secured convertible debenture (the "Debenture") with gross proceeds of $2,000,000 prior to fees. Payments on the Debenture are due 25% on November 1, 2014, 25% on January 1, 2015 and the remaining 50% on April 1, 2015 as a final payment. The Company has the option to pay the interest or principal in stock subject to certain "Equity Conditions" such as giving notice of its intent 20 trading days beforehand. The Agreement provides that the Debenture may be converted at the holder's option at $0.3325 per share at any time after the closing and subject to adjustments. The Company evaluated that for the embedded conversion option, there was no beneficial conversion value to record as the conversion price was greater than the fair market value of the common shares on the note issue date. Warrants with a relative fair value of $389,565 were issued for 100% of the number of shares of common stock that could be purchased at the conversion price at closing or 6,736,842. The warrants have a five-year term and are exercisable for cash if an outstanding registration statement is in effect within 90 days of closing. The $389,565 is recorded as a debt discount to be amortized over the debt term. The Debenture bears 8% per annum interest and are amortizable in installments over their term. The financing closed on September 26, 2013 and the Company received proceeds of approximately $1.7 million, net of certain offering costs and before payment of various debt issue costs. Offering costs to the lender included an original issue discount of $240,000 and cash loan fees of $117,846. | |||||||||
In September 2013 Company had entered into an engagement agreement with Laidlaw & Co. ("Laidlaw") to act as placement agent for the offering and receive customary compensation. Laidlaw introduced the Institutional Investor. As a placement agent fee, the Company paid Laidlaw $207,500 and issued 1,347,368 five year warrants with an exercise price of $0.3325, valued at $94,316. The warrants and fees paid plus legal fees of $35,356 were recorded as a debt issue cost asset and are being amortized over the debt term. | |||||||||
As of April 30, 2013, the aggregate amount of convertible notes payable outstanding was $800,000, of which $200,000 is included in current liabilities and $600,000 is included in long-term liabilities. As of April 30, 2014, the aggregate amount of convertible notes payable net of original issue discount outstanding was $3,562,229, of which $1,600,000, is included in long term liabilities and $1,962,229 is included in current liabilities. As of April 30, 2014, the convertible notes embedded conversion options were not accounted for as bifurcated derivatives since the conversion shares were not readily convertible to cash due to an inactive trading market. | |||||||||
Notes payable consisted of the following at April 30, 2014 and 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Note payable - related party originating August 14, 2012; no monthly payments required; bearing interest at 5% [A] [D] | $ | 300,000 | $ | 300,000 | |||||
Note payable - related party originating March 13, 2012; no monthly payments required; bearing interest at 0.19% [A] [D] | 300,000 | 300,000 | |||||||
Note payable - originating February 25, 2012; no monthly payments required [B] | 75,000 | 100,000 | |||||||
Note payable - originating February 27, 2012; no monthly payments required [C] | 50,000 | 50,000 | |||||||
Note payable - originating February 29, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 29, 2014 (In default at April 30, 2014) | 50,000 | 50,000 | |||||||
Loan Payable Officer - related party originating June 28, 2013; no monthly payments required; bearing interest at 10%; maturing January 1, 2016 [D] | 1,000,000 | - | |||||||
Debentures payable, net of OID | 1,787,229 | - | |||||||
Total | 3,562,229 | 800,000 | |||||||
Less: Current maturities (loans payable) | |||||||||
Less: Current maturities (notes payable) | (175,000 | ) | (200,000 | ) | |||||
Less: Current maturities (Debentures Payable) | (1,787,229 | ) | |||||||
Subtotal | 1,600,000 | 600,000 | |||||||
Less: amount due after one year for notes payable | - | - | |||||||
Amount due after one year for convertible notes payable | $ | 1,600,000 | $ | 600,000 | |||||
------- | |||||||||
[A] - Effective September 4, 2012, note amended to provide a maturity date of August 31, 2013. Effective December 17, 2012, note further amended to provide a maturity date of August 31, 2014. On September 25, 2013, maturity date had been extended to April 5, 2015. On July 16, 2014, the maturity date had been extended to January 1, 2016. | |||||||||
[B] - Effective February 28, 2014 the note was amended to provide a maturity date of December 1, 2014 and interest rate of 3.25%. | |||||||||
[C] - Effective February 18, 2014 the note was amended to provide a maturity date of December 1, 2014 and interest rate of 3.25%. | |||||||||
[D] - Effective July 16, 2014 the note was amended to provide a maturity date of January 1, 2016. | |||||||||
Future maturities of notes payable as of April 30, 2014 are as follows: | |||||||||
Year Ending April 30, | |||||||||
2015 | $ | - | |||||||
2016 | 1,600,000 | ||||||||
$ | 1,600,000 |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Apr. 30, 2014 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
Note 10. Commitments and Contingencies | |||||
Line of Credit | |||||
The Company maintains a line of credit with a bank, up to a maximum credit line of $250,000. The line of credit bears interest equal to the prime rate plus 0.50% (overall interest rate of 3.75% at April 30, 2014). The line of credit requires minimum monthly payments consisting of interest only. The line of credit is secured by all business assets, inventory, equipment, accounts, general intangibles, chattel paper, documents, instruments and letter of credit rights of the Company. The line of credit is for an unspecified time until the bank notifies the Company of the Final Availability Date, at which time payments on the line of credit become the sum of: (a) accrued interest and (b) 1/60th of the unpaid principal balance immediately following the Final Availability Date, which equates to a five-year payment period. The balance due on the line of credit as of April 30, 2014 and 2013 was $244,175 and $250,000 respectively. Since the earliest the line of credit is due and payable is over a five year period and the Company believes that it could obtain a comparable replacement line of credit elsewhere, the entire line of credit is included in long-term liabilities. The unused amount under the line of credit available to the Company at April 30, 2014 and 2013 was $5,825 and $0 respectively. | |||||
Operating Leases | |||||
The Company leases office space for its corporate headquarters in New York, New York on a month-to-month basis with monthly rent payments of $3,816 per month. | |||||
The Company leases office space for its developers in Dieppe, NB, Canada on a month-to-month basis with monthly rent payments of $1,675 per month. | |||||
The Company leases office space for its Denver, Colorado location under a seven-year lease agreement commencing September 15, 2008. The operating lease granted four initial months of free rent and had a base monthly rent of $6,526 commencing January 15, 2009. Thereafter, the monthly rent escalates 2.5% annually over the base year. | |||||
On October 4, 2012, the Company entered into a three-year lease agreement for its call center in Scottsdale, Arizona. The Company occupied temporary space at this location until moving into the leased space on February 1, 2013, the commencement date of the lease. The lease requires rent payments of $4,491 per month during months 4 through 12, $4,601 per month during the second year, and $4,710 per month during the third year. | |||||
The following is a schedule by years of future minimum rental payments required under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of April 30, 2014: | |||||
Year Ending April 30, | |||||
2015 | $ | 144,332 | |||
2016 | 72,427 | ||||
2017 | - | ||||
Total minimum payments required | $ | 216,759 | |||
Rent expense for the years ended April 30, 2014, and December 31, 2012, and four months ended April 30, 2013 and 2012, were $210,977, $140,783, $64,724, and $44,828, respectively. | |||||
Employment Agreements | |||||
From time to time, the Company enters into employment agreements with certain of its employees. These agreements typically include bonuses, some of which were performance-based in nature. As of April 30, 2013, the Company had entered into five employment agreements whereby the Company was obligated to pay an annual performance bonus ranging from 50% to 100% of the employee's base salary based upon the achievement of pre-established milestones. Such annual bonuses were to be paid one-half in cash and the remainder in shares of common stock of the Company. As of April 30, 2014, no performance bonuses have been earned. | |||||
Consulting Agreement | |||||
On October 1, 2012, the Company retained two investor relations firms agreeing to pay one firm $50,000 a year for two years and issuing it 200,000 shares of common stock, having a fair value of $70,000 based on recent sales of Units. The second firm was retained for one year with a fee of $5,000 per month. The second firm also received 100,000 shares of common stock and 100,000 five-year warrants exercisable at $0.60 per share, having a fair value of $43,000 based on recent sale of Units (See Note 12). | |||||
Legal Matters | |||||
From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. As of April 30, 2013, there were no other pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations and there are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest. | |||||
On February 11, 2013, HEMG and Mr. Spada sued the Company, certain senior management members and our directors in state court in New York seeking damages arising principally from (i) allegedly false and misleading statements in the filings with the SEC and the DOE where the Company disclosed that HEMG and Mr. Spada borrowed $2.2 million without board authority, (ii) the alleged breach of an April 2012 agreement whereby the Company had agreed, subject to numerous conditions and time limitations, to purchase certain shares of the Company from HEMG, and (iii) alleged diminution to the value of HEMG's shares of the Company due to Mr. Spada's disagreement with certain business transactions the Company engaged in, all with Board approval. On November 8, 2013, the state court in New York granted the Company's motion to dismiss all of the derivative claims and all of the fiduciary duty claims. The state court in New York also granted the Company's motion to dismiss the duplicative breach of good faith and fair dealing claim, as well as the defamation claim. The state court in New York denied the Company's motion to dismiss as to the defamation per se claim. On December 10, 2013, the Company filed a series of counterclaims against HEMG and Mr. Spada in state court of New York. Discovery is currently being pursued by the parties. | |||||
On November 21, 2013, HEMG and Mr. Spada filed a derivative suit on behalf of the Company against certain former senior management member and our directors in state court in Delaware. The Company is a nominal defendant. The complaint is substantially similar to the complaint filed in state court of New York, except that if successful, the Company will receive the benefits. On February 28, 2014, the Company filed a motion to dismiss the complaint. In July 2014, the court heard oral argument and reserved decision. | |||||
While the Company has been advised by its counsel that these lawsuits are baseless, the Company cannot provide any assurance as to the ultimate outcome of the cases. Defending the lawsuits will be expensive and will require the expenditure of time which could otherwise be spent on the Company's business. While unlikely, if Mr. Spada's and HEMG's claims in the New York litigation were to be successful, the damages the Company could pay could potentially be material. | |||||
Regulatory Matters | |||||
The Company's subsidiary, Aspen University Inc. ("Aspen University"), is subject to extensive regulation by Federal and State governmental agencies and accrediting bodies. In particular, the Higher Education Act (the "HEA") and the regulations promulgated thereunder by the DOE subject Aspen University to significant regulatory scrutiny on the basis of numerous standards that schools must satisfy to participate in the various types of federal student financial assistance programs authorized under Title IV of the HEA. Aspen University has had provisional certification to participate in the Title IV programs. That provisional certification imposes certain regulatory restrictions including, but not limited to, a limit of 1,200 student recipients for Title IV funding for the duration of the provisional certification. The provisional certification restrictions continue with regard to Aspen University's participation in Title IV programs. | |||||
To participate in the Title IV programs, an institution must be authorized to offer its programs of instruction by the relevant agencies of the State in which it is located, and since July 2011, potentially in the States where an institution offers postsecondary education through distance education. In addition, an institution must be accredited by an accrediting agency recognized by the DOE and certified as eligible by the DOE. The DOE will certify an institution to participate in the Title IV programs only after the institution has demonstrated compliance with the HEA and the DOE's extensive academic, administrative, and financial regulations regarding institutional eligibility and certification. An institution must also demonstrate its compliance with these requirements to the DOE on an ongoing basis. Aspen University performs periodic reviews of its compliance with the various applicable regulatory requirements. As Title IV funds received in fiscal 2013 represented approximately 26% of the Company's cash revenues (including revenues from discontinued operations), as calculated in accordance with Department of Education guidelines, the loss of Title IV funding would have a material effect on the Company's future financial performance. | |||||
On March 27, 2012 and on August 31, 2012, Aspen University provided the DOE with letters of credit for which the due date was extended to December 31, 2013. On January 30, 2014, the DOE provided Aspen University with an option to become permanently certified by increasing the letter of credit to 50% of all Title IV funds received in the last program year, equaling $1,696,445, or to remain provisionally certified by increasing the 25% letter of credit to $848,225. Aspen informed the DOE of its desire to remain provisionally certified and posted the $848,225 letter of credit by the DOE on April 14, 2014. The DOE may impose additional or different terms and conditions in any final provisional program participation agreement that it may issue (See Note 2 "Restricted Cash"). | |||||
The HEA requires accrediting agencies to review many aspects of an institution's operations in order to ensure that the education offered is of sufficiently high quality to achieve satisfactory outcomes and that the institution is complying with accrediting standards. Failure to demonstrate compliance with accrediting standards may result in the imposition of probation, the requirements to provide periodic reports, the loss of accreditation or other penalties if deficiencies are not remediated. | |||||
Because Aspen University operates in a highly regulated industry, it may be subject from time to time to audits, investigations, claims of noncompliance or lawsuits by governmental agencies or third parties, which allege statutory violations, regulatory infractions or common law causes of action. | |||||
Return of Title IV Funds | |||||
An institution participating in Title IV programs must correctly calculate the amount of unearned Title IV program funds that have been disbursed to students who withdraw from their educational programs before completion and must return those unearned funds in a timely manner, generally within 45 days of the date the school determines that the student has withdrawn. Under Department regulations, failure to make timely returns of Title IV program funds for 5% or more of students sampled on the institution's annual compliance audit in either of its two most recently completed fiscal years can result in the institution having to post a letter of credit in an amount equal to 25% of its required Title IV returns during its most recently completed fiscal year. If unearned funds are not properly calculated and returned in a timely manner, an institution is also subject to monetary liabilities or an action to impose a fine or to limit, suspend or terminate its participation in Title IV programs. | |||||
On June 30, 2013, the Company filed its calendar year 2012 compliance audit with the Department of Education. As a result of the audit findings, the Company recognized that it had not fully complied with all requirements for calculating and making timely returns of Title IV funds (R2T4). In November 2013, the Company returned a total of $102,810 of Title IV funds to the Department of Education. | |||||
Delaware Approval to Confer Degrees | |||||
Aspen University is a Delaware corporation. Delaware law requires an institution to obtain approval from the Delaware Department of Education ("Delaware DOE") before it may incorporate with the power to confer degrees. On July 3, 2012, Aspen University received notice from the Delaware DOE that it is granted provisional approval status effective until June 30, 2015. Aspen University is authorized by the Colorado Commission on Education to operate in Colorado as a degree granting institution. | |||||
Unauthorized Borrowings | |||||
During 2005 through 2011, the Company advanced funds without board authority to both Patrick Spada (former Chairman of the Company) and HEMG, of which Patrick Spada is President (See Note 15). Mr. Spada and HEMG have denied taking any advances (See "Legal Matters" above). | |||||
Letter of Credit | |||||
The Company maintains a letter of credit under a DOE requirement (See Note 2 "Restricted Cash"). |
Temporary_Equity
Temporary Equity | 12 Months Ended |
Apr. 30, 2014 | |
Temporary Equity [Abstract] | ' |
Temporary Equity | ' |
Note 11. Temporary Equity | |
On October 28, 2011, Aspen filed a First Amendment to the second amended and restated certificate of incorporation whereby a liquidation preference equal to the original issue price ($1.00) was added to both the Series D and Series E shares. In addition, the liquidation preferences of the Series D shares became pari passu with the liquidation preferences of the Series E shares and the liquidation preferences of both the Series D and Series E shares became senior to the liquidation preferences of the Series C shares. On January 23, 2012, Aspen filed a Second Amendment to the second amended and restated certificate of incorporation whereby the Series A, Series D and Series E preferred shares shall be redeemed if the SEC Reporting Date does not occur on or before February 29, 2012. On February 29, 2012, Aspen filed a Third Amendment to the second amended and restated certificate of incorporation whereby the Series A, Series D and Series E preferred shares shall be redeemed if the SEC Reporting Date does not occur on or before March 15, 2012. The SEC Reporting Date occurred on March 13, 2012. | |
Prior to their conversion to shares of common stock on March 13, 2012, the Series A, Series D and Series E preferred shares were classified as temporary equity. During 2012 through March 13, 2012, the preferred shares accumulated additional dividends of $37,379 and as of March 13, 2012, total cumulative preferred dividends were $124,705. On March 13, 2012, all preferred shares were automatically converted into shares of common stock and, based on the terms of the preferred shares, none of the cumulative dividends shall ever be paid (See Note 12). |
Stockholders_Equity_Deficiency
Stockholders' Equity (Deficiency) | 12 Months Ended | ||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||
Stockholders' Equity (Deficiency) [Abstract] | ' | ||||||||||||||||
Stockholders' Equity (Deficiency) | ' | ||||||||||||||||
Note 12. Stockholders' Equity (Deficiency) | |||||||||||||||||
Stock Dividends and Reverse Split | |||||||||||||||||
On February 23, 2012, Aspen approved a stock dividend of one new share of Aspen for each share presently held. Following the stock dividend, Aspen approved a one-for-two reverse stock split as of the close of business on February 24, 2012 in which each two shares of common stock shall be combined into one share of common stock. This was done in order to reduce the conversion ratio of the Aspen convertible preferred stock for all Series to 1 for 1 except for Series C, which then had a conversion ratio of 0.8473809. All share and per share data has been retroactively adjusted to reflect the stock splits. | |||||||||||||||||
Preferred Stock | |||||||||||||||||
On March 13, 2012, all preferred shares were automatically converted into shares of common stock and, based on the terms of the preferred shares (See below). | |||||||||||||||||
Common Stock | |||||||||||||||||
On March 13, 2012, all of the outstanding preferred shares of the Company were automatically converted into 13,677,274 shares of common stock of Aspen Group, Inc. (See Note 11). | |||||||||||||||||
Pursuant to the recapitalization discussed below and under generally accepted accounting rules, the Company is deemed to have issued 9,760,000 shares of common stock to the original stockholders of Aspen Group, Inc. Technically, no shares were issued since the original stockholders owned their shares prior to March 13, 2012. | |||||||||||||||||
In April 2012, the Company issued 20,000 shares of common stock upon the conversion of $20,000 of convertible notes payable (See Note 9). | |||||||||||||||||
On September 28, 2012, the Company raised $2,494,899 (net of offering costs of $262,101) from the sale of 78.77 Units (including 7,877,144 shares of common stock and 3,938,570 five-year warrants exercisable at $0.50 per share) through Laidlaw. Of the amount raised, $212,000 or 605,716 shares of common stock were from directors of the Company. Also, on September 28, 2012, as a result of this financing, all of the $1,706,000 (face value) of Convertible Notes from the Phase One financing automatically converted into 5,130,795 shares of common stock at the contractual rate of $0.3325 per share. In addition, 202,334 shares of common stock and 50,591 five-year warrants exercisable at $0.3325 per share were issued to settle $67,276 of accrued interest on the aforementioned Convertible Notes. Accordingly, a loss of $3,339 was recognized upon settlement (See Note 9). | |||||||||||||||||
On September 28, 2012, as a result of the aforementioned financing, a $49,825 (face value) Convertible Note was automatically converted into 142,357 shares of common stock at the contractual rate of $0.35 per share. In addition, 112 shares of common stock were issued to settle $39 of accrued interest on the aforementioned convertible note. No gain or loss was recognized upon settlement (See Note 9). | |||||||||||||||||
On September 28, 2012, as a result of the initial closing of the Phase Two financing, 4,516,917 shares of common stock and warrants to purchase 915,429 shares of common stock at $0.3325 per share were issued to the former owners of Aspen Series D and Series E shares under the price protection provision. This resulted in an increase in stock of common stock of $4,517 with a corresponding decrease in additional paid-in capital. 550,000 of the former Series D shares and all 1,700,000 of the former Series E shares continue to have price protection through March 13, 2015. | |||||||||||||||||
On October 1, 2012, the Company purchased 264,000 shares of common stock for $132,000, from the Company's former chairman (see Notes 4 and 15). On November 13, 2012, these shares were retired. | |||||||||||||||||
On December 7, 2012, the Company purchased 200,000 shares of common stock for $70,000, from the Company's former chairman. The shares are being held as treasury shares. | |||||||||||||||||
On October 1, 2012, the Company retained two investor relations firms agreeing to pay one firm $50,000 a year for two years and issuing it 200,000 shares of common stock, having a fair value of $70,000 based on recent sales of common stock. The second firm was retained for one year with a fee of $5,000 per month. The second firm also received 100,000 shares of common stock and 100,000 five-year warrants exercisable at $0.60 per share, having a fair value of $43,000 based on recent sale of Units. | |||||||||||||||||
On October 10, 2012, the Company entered into a non-exclusive agreement with Global Arena Capital Corp. ("GAC"), a broker-dealer, through which GAC agreed to use its best efforts to raise up to $2,030,000 from the sale of Units of common stock and warrants that are identical to those Units sold on September 28, 2012. The Company agreed to compensate GAC from sales of Units by paying it compensation equal to 10% of the gross proceeds sold by it. The Company also agreed to issue GAC five-year warrants to purchase 10% of the same Units it sells to investors with an exercise price equal to the purchase price paid by investors ($35,000 per Unit). In addition, the Company agreed to pay GAC a 3% non-accountable expense allowance from the proceeds of Units sold by it. | |||||||||||||||||
As of December 31, 2012, the Company raised $530,337 (net of offering costs of $184,663 and five-year warrants to purchase: (i) 100,000 shares of common stock at $0.35 per share and (ii) 98,000 shares of common stock at $0.50 per share.) from the sale of 20.43 Units (including 2,042,856 shares of common stock and 1,021,432 warrants) under the offering. | |||||||||||||||||
During the period from February 13, 2013 through March 1, 2013, the Company raised $519,370 (net of offering costs of $45,630) from the sale of 16.14 Units (including 1,614,286 shares of common stock and 807,143 five-year warrants exercisable at $0.50 per share) on its own behalf without the use of a broker. The warrants have cashless exercise provisions. On March 14, 2013, and based on the Company having increased the remainder of the Offering by $20,000, the Company entered into an exclusive engagement with Laidlaw & Company (UK) Ltd. under which Laidlaw agreed to use its best effort to sell up to $770,000 of Units with the same terms as the Units the Company sold in 2012 and 2013 to date. Laidlaw received cash commissions of 10% based on the number of Units sold and five-year warrants equal to 10% of the securities sold exercisable at $0.50 per share. | |||||||||||||||||
On April 18, 2013, the Company raised $522,170 (net of offering costs of $78,158 and five-year warrants to purchase 169,021 shares of common stock at $0.50 per share) from the sale of 17.15 Units (comprised of 1,715,217 shares of common stock and 857,609 five-year warrants exercisable at $0.50 per share). All of the Units were sold with the assistance of Laidlaw except $8,750, which the Company raised on its own behalf and was not subject to a commission. Cash commissions of $59,158 and five-year warrants to purchase 169,021 shares of common stock at $0.50 per share are due to Laidlaw as offering fees. The Laidlaw engagement terminated after these transactions. | |||||||||||||||||
As part of two contracts entered into during the year ended April 30, 2014, the Company issued restricted stock to two firms as part of their fees for services. The fair value of the stock issued was set up as a prepaid expense and was amortized over the service period of the contract. Since the contract was terminated, the full amount was recognized during the three months ended January 31, 2014. On June 27, 2013, the Company issued one firm 317,143 shares of its common stock valued at $0.35 per share (based on recent sales of shares by the Company) to an investor relations firm pursuant to a service agreement with two service components, one for three months and one for 12 months. The $111,000 of expense was being recognized in two pieces, $90,000 over 12 months and $21,000 over three months. On July 24, 2013, the Company issued the second firm 300,000 shares of its common stock valued at $0.35 per share (based on recent sales of shares by the Company) to a business development consultant pursuant to a six month consulting agreement. The $105,000 of expense was being amortized over the life of the contract. Since the contract was terminated, the unamortized balance was recognized as an expense in the year ended April 30, 2014. | |||||||||||||||||
The Company issued 7,006,064 shares of common stock and received $804,049 in connection with warrant exercises more fully described below. | |||||||||||||||||
As a result of the warrant modifications and exercises described below, the Company issued 3,270,678 shares of common stock as price protection on prior cash investments. | |||||||||||||||||
On March 10, 2014, several members of the Board of Directors paid $600,000 in exchange for 3,157,895 shares of common stock and 3,157,895 warrants at $0.19 per share. On April 24, 2014, an investor paid $50,000 in exchange for 263,158 shares of common stock and 263,158 warrants at $0.19 per share. On April 30, 2014, a Director paid $100,000 in exchange for 526,318 shares of common stock and 526,318 warrants at $0.19 per share. | |||||||||||||||||
Recapitalization | |||||||||||||||||
On March 13, 2012 (the "recapitalization date"), Aspen University was acquired by Aspen Group, Inc., an inactive publicly-held company, in a reverse merger transaction accounted for as a recapitalization of Aspen University (the "Recapitalization" or the "Reverse Merger"). The common and preferred stockholders of the Company received 25,515,204 shares of common stock of Aspen Group, Inc. in exchange for 100% of the capital stock of Aspen University Inc. For accounting purposes, Aspen University Inc. is the acquirer and Aspen Group, Inc. is the acquired company because the stockholders of Aspen University Inc. acquired both voting and management control of the combined entity. As disclosed above, the Company is deemed to have issued 9,760,000 shares of common stock to the original stockholders of the publicly-held entity. Accordingly, after completion of the recapitalization, the historical operations of the Company are those of Aspen University Inc. and the operations since the recapitalization date are those of Aspen University Inc. and Aspen Group, Inc. The assets and liabilities of both companies are combined at historical cost on the recapitalization date. As a result of the recapitalization and conversion of all Company preferred shares into shares of common stock of the public entity, all redemption and dividend rights of preferred shares were terminated. As a result of the recapitalization, the Company now has 120,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share authorized. The assets acquired and liabilities assumed from the publicly-held company were as follows: | |||||||||||||||||
Cash and cash equivalents | $ | 337 | |||||||||||||||
Liabilities assumed | (21,206 | ) | |||||||||||||||
Net | $ | (20,869 | ) | ||||||||||||||
Stock Warrants | |||||||||||||||||
On September 28, 2012, as a result of the initial closing of the Phase Two financing, (i) warrants to purchase 915,429 shares of common stock at $0.3325 per share were issued to the former owners of Aspen Series D and Series E shares under full-ratchet price protection provisions and (ii) the exercise price of the original 456,000 warrants held by the former owners of Series D and Series E shares changed from $1.00 per share to $0.3325 per share. In addition, the exercise price of 426,500 warrants held by the former holders of Convertible Notes (sold during March through June of 2012 with the assistance of Laidlaw) changed from $1.00 per share to $0.3325 per share under price protection provisions. As the aforementioned issuances and changes in exercise price of warrants stemmed from price protection provisions in the original contracts, no expense was recognized. | |||||||||||||||||
On October 1, 2012, the Company retained an investor relations firm. As part of its compensation, the investor relations firm received 100,000 five-year warrants exercisable at $0.60 per share, having a fair value of $8,000. As the warrants vested immediately, the entire $8,000 was recognized as a prepaid expense and is being amortized over the term of the agreement. | |||||||||||||||||
On October 23, 2012, the Company issued 150,000 five-year warrants exercisable at $0.50 per share, having a fair value of $15,000. As the warrants vested immediately and were for prior services, the entire $15,000 was expensed immediately. On December 17, 2012, the warrants were repriced to have an exercise price of $0.35 per share, resulting in additional expense of $4,500, which was expensed immediately. | |||||||||||||||||
During the four months ended April 30, 2013, the Company issued 1,833,770 warrants exercisable at $0.50 per share. (See "Common Stock" above). | |||||||||||||||||
In July of 2013, the Company issued 1,115,026 warrants to a placement agent as a fee related to prior investments. There was no accounting effect for this warrant issuance. | |||||||||||||||||
On September 26, 2013, warrants were issued in connection with a financing more fully described in Note 9 with a relative fair value of $389,565, and were issued for 100% of the number of shares of common stock that could be purchased at the conversion price at closing or 6,736,842. The warrants have a five-year term and are exercisable for cash if an outstanding registration statement is in effect within 90 days of closing. Also, as a placement agent fee, the Company paid $207,500 and issued 1,347,368 five year warrants with an exercise price of $0.3325, valued at $94,316. The warrants and fees paid were recorded as a debt issue cost asset and are being amortized over the debt term (See Note 9). | |||||||||||||||||
On January 15, 2014, a warrant exercise offering was completed whereby 4,231,840 warrants were offered at an exercise price of $0.19 per warrant. The total proceeds received were $804,049 and since the exercise price was discounted from the stated prices of either $0.50 or $0.3325, a warrant modification expense of $156,952 was recorded in accordance with ASC 718-20-35. This expense was calculated by comparing the value of the warrants before and after the reduced price. As a result of the $0.19 exercise, an additional 5,178,947 new warrants were issued at $0.19 per warrant as part of a price protection agreement with two investors. There was no accounting effect for this warrant issuance. | |||||||||||||||||
On March 10, 2014, several members of the Board of Directors invested $600,000 in exchange for 3,157,895 shares of common stock and 3,157,895 warrants at $0.19 per share. On April 24, 2014, an investor invested $50,000 in exchange for 263,158 shares of common stock and 263,158 warrants at $0.19 per share. On April 30, 2014, a Director invested $100,000 in exchange for 526,318 shares of common stock and 526,318 warrants at $0.19 per share. | |||||||||||||||||
All other outstanding warrants issued by the Company to date have been related to capital raises. Accordingly, the Company has not recognized any additional stock-based compensation for other warrants issued during the years presented. A summary of the Company's warrant activity during the year ended April 30, 2014 is presented below: | |||||||||||||||||
Weighted | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Number of | Exercise | Contractual | Intrinsic | ||||||||||||||
Warrants | Shares | Price | Term | Value | |||||||||||||
Balance Outstanding, April 30, 2013 | 9,090,292 | $ | 0.46 | ||||||||||||||
Granted | 18,325,553 | 0.26 | |||||||||||||||
Exercised | (4,231,840 | ) | 0.19 | ||||||||||||||
Forfeited | (40,000 | ) | 0.5 | ||||||||||||||
Expired | - | ||||||||||||||||
Balance Outstanding, April 30, 2014 | 23,144,005 | $ | 0.31 | 4.6 | $ | - | |||||||||||
Exercisable, April 30, 2014 | 18,249,528 | $ | 0.31 | 4.6 | $ | - | |||||||||||
Certain of the Company's warrants contain price protection. The Company evaluated whether the price protection provision of the warrant would cause derivative treatment. In its assessment, the Company determined that since its shares are not readily convertible to cash due to an inactive trading market, through April 30, 2014 the warrants are excluded from derivative treatment. | |||||||||||||||||
Stock Incentive Plan and Stock Option Grants to Employees and Directors | |||||||||||||||||
Immediately following the closing of the Reverse Merger, on March 13, 2012, the Company adopted the 2012 Equity Incentive Plan (the "Plan") that provides for the grant of 2,500,000 shares (increased to 5,600,000 shares effective September 28, 2012, to 8,000,000 effective January 16, 2013, and to 9,300,000 effective May 2013, and 14,300,000 effective July 2014) in the form of incentive stock options, non-qualified stock options, restricted shares, stock appreciation rights and restricted stock units to employees, consultants, officers and directors. | |||||||||||||||||
On October 23, 2012, the Company issued non-Plan stock options to its executive officers as compensation for salary deferrals through August 31, 2012. Messrs. Michael Mathews, Brad Powers and David Garrity received 288,911, 255,773, and 136,008 five-year stock options, respectively, exercisable at $0.35 per share which options are fully vested. In aggregate, 680,692 stock options were issued to settle $238,562 of accrued salaries. No gain was recognized as the settlement was between the Company and related parties. On January 16, 2013, these options were modified to be Plan options. | |||||||||||||||||
On October 23, 2012, the Company issued additional non-Plan options to executive officers who reduced their salaries for the period September 1 through December 31, 2012. The Company granted Messrs. Mathews, Powers and Garrity each 166,666 five-year options, respectively, and Dr. Gerald Williams 47,620 five-year options, all exercisable at $0.35 per share with 25% of these options vesting on the last day of September, October, November and December 2012, subject to the applicable executive remaining employed on each applicable vesting date. In aggregate, 547,618 stock options were issued as part of the reduced salaries. All stock options or shares granted are valued on the appropriate measurement date and the related expense shall be recognized over the requisite service period. On January 16, 2013, these options were modified to be Plan options. | |||||||||||||||||
Prior to 2011, the Company received $22,000 from a director of the Company in exchange for a note payable bearing interest of 10%, due on demand. On November 21, 2012, the director forgave the $22,000 balance due from Aspen in exchange for 62,857 five-year vested non-Plan stock options exercisable at $0.35 per share. No gain was recognized as the settlement was between the Company and related parties. On January 16, 2013, these options were modified to be Plan options. | |||||||||||||||||
On December 17, 2012, the Company repriced 1,705,000 stock options from having an exercise price of $1.00 per share to $0.35 per share. Accordingly, the incremental increase in the fair value due to the repricing is being recognized over the remaining service period of the stock options. | |||||||||||||||||
During the year ended December 31, 2012, including the aforementioned stock option issuances in this section, the Company granted to employees 6,777,967 stock options, net of cancellations (including repriced stock options), all of which were under the Plan, having an exercise price of $0.35 per share. While most of the options vest pro rata over three to four years on each anniversary date, 910,214 vested immediately; all options expire five years from the grant date. The total fair value of stock options granted to employees during the four months ended April 30, 2013 and for the year ended December 31, 2012 was $79,070 and $1,747,007, respectively. In connection with employee stock options, the Company recorded compensation expense of $153,818, $81,605 and $252,057 for the four months ended April 30, 2013 and 2012 and for the year ended December 31, 2012, respectively. | |||||||||||||||||
During the four months ended April 30, 2013, the Company granted to employees 658,914 stock options, all of which were under the Plan, having an exercise price of $0.35 per share. The options vest pro rata over three to four years on each anniversary date; all options expire five years from the grant date. The total fair value of stock options granted to employees during the four months ended April 30, 2013 was $79,070, which is being recognized over the respective vesting periods. | |||||||||||||||||
During the year ended April 30, 2014, the Company granted to employees 3,778,711 stock options, all of which were under the Plan, having an exercise price ranging from $0.35 per share to $0.17 per share. The options vest pro rata over three years on each anniversary date; all options expire five years from the grant date. The total fair value of stock options granted to employees during the year ended April 30, 2014 was $332,545, which is being recognized over the respective vesting periods. | |||||||||||||||||
The Company estimates the fair value of share-based compensation utilizing the Black-Scholes option pricing model, which is dependent upon several variables such as the expected option term, expected volatility of the Company's stock price over the expected term, expected risk-free interest rate over the expected option term, expected dividend yield rate over the expected option term, and an estimate of expected forfeiture rates. The Company believes this valuation methodology is appropriate for estimating the fair value of stock options granted to employees and directors which are subject to ASC Topic 718 requirements. These amounts are estimates and thus may not be reflective of actual future results, nor amounts ultimately realized by recipients of these grants. The Company recognizes compensation on a straight-line basis over the requisite service period for each award. The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the year ended April 30, 2014 the four months ended April 30, 2013, and during the year ended December 31, 2012: | |||||||||||||||||
April 30, | April 30, | December 31, | |||||||||||||||
Assumptions | 2014 | 2013 | 2012 | ||||||||||||||
Expected life (years) | 3.3 | 3.5 - 3.75 | 2.5 - 3.8 | ||||||||||||||
Expected volatility | 45.00% | 46.3%- 46.5% | 44.2% - 50.9% | ||||||||||||||
Weighted-average volatility | 45.00% | 46.50% | 49.00% | ||||||||||||||
Risk-free interest rate | 0.38% | .36%-.44% | 0.31% - 0.60% | ||||||||||||||
Dividend yield | 0.00% | 0.00% | 0.00% | ||||||||||||||
Expected forfeiture rate | n/a | 3.90% | 1.70% | ||||||||||||||
The Company utilized the simplified method to estimate the expected life for stock options granted to employees. The simplified method was used as the Company does not have sufficient historical data regarding stock option exercises. The expected volatility is based on the average of the expected volatilities from the most recent audited financial statements available for comparative public companies that are deemed to be similar in nature to the Company. The risk-free interest rate is based on the U.S. Treasury yields with terms equivalent to the expected life of the related option at the time of the grant. Dividend yield is based on historical trends. While the Company believes these estimates are reasonable, the compensation expense recorded would increase if the expected life was increased, a higher expected volatility was used, or if the expected dividend yield increased. | |||||||||||||||||
A summary of the Company's stock option activity for employees and directors during the year ended April 30, 2014 is presented below: | |||||||||||||||||
Weighted | |||||||||||||||||
Weighted | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Number of | Exercise | Contractual | Intrinsic | ||||||||||||||
Options | Shares | Price | Term | Value | |||||||||||||
Balance Outstanding, April 30, 2013 | 7,344,381 | $ | 0.35 | ||||||||||||||
Granted | 3,778,711 | $ | 0.25 | ||||||||||||||
Exercised | - | ||||||||||||||||
Forfeited | (646,680 | ) | $ | 0.35 | |||||||||||||
Expired | - | ||||||||||||||||
Balance Outstanding, April 30, 2014 | 10,476,412 | $ | 0.35 | 4 | $ | - | |||||||||||
Exercisable, April 30, 2014 | 2,050,332 | $ | 0.35 | 3.8 | $ | - | |||||||||||
The weighted-average grant-date fair value of options granted to employees during the four months ended April 30, 2014 was $0.06. | |||||||||||||||||
As of April 30, 2014, there was $767,237 of total unrecognized compensation costs related to nonvested share-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 1.5 years. | |||||||||||||||||
Stock Option Grants to Non-Employees | |||||||||||||||||
On March 15, 2012, the Company granted 175,000 stock options to non-employees, all of which were under the Plan, having an exercise price of $1.00 per share. The options vest pro rata over three years on each anniversary date; all options expire five years from the grant date. The total fair value of the stock options granted was $57,750, all of which was recognized immediately as these stock options were issued for prior services rendered. On December 17, 2012, the Company repriced the stock options issued from having an exercise price of $1.00 per share to $0.35 per share. Accordingly, the incremental increase in the fair value of $15,750 was recognized immediately. | |||||||||||||||||
On October 23, 2012, under the Plan, the Company issued to a consultant 20,000 five-year stock options exercisable at $0.50 per share vesting in equal annual increments over a three-year period subject to the consultant continuing to provide services for the Company. The total fair value of the stock options granted was $2,000, all of which was recognized immediately as these stock options were issued for prior services rendered. On December 17, 2012, the Company repriced the stock options issued from having an exercise price of $0.50 per share to $0.35 per share. Accordingly, the incremental increase in the fair value of $600 was recognized immediately. | |||||||||||||||||
The total fair value of 75,000 stock options granted to a faculty member during the four months ended April 30, 2013 was $9,000, which will be recognized over 3 years as this contract employee provides services to Aspen. | |||||||||||||||||
The Company recorded compensation expense of $2,968 for the year ended April 30, 2014 and $244 for the four months ended April 30, 2013 in connection with this particular non-employee grant. The Company recorded compensation expense of $95,600 for the year ended December 31, 2012, in connection with non-employee stock options. The total fair value of stock options granted to non-employees during the year ended December 31, 2012 was $95,600, all of which was recognized immediately as these stock options were issued for prior services rendered. | |||||||||||||||||
A summary of the Company's stock option activity for non-employees during the year ended April 30, 2014 is presented below: | |||||||||||||||||
Weighted | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Number of | Exercise | Contractual | Intrinsic | ||||||||||||||
Options | Shares | Price | Term | Value | |||||||||||||
Balance Outstanding, April 30, 2013 | 270,000 | $ | 0.35 | ||||||||||||||
Granted | - | $ | - | ||||||||||||||
Exercised | - | ||||||||||||||||
Forfeited | - | ||||||||||||||||
Expired | - | ||||||||||||||||
Balance Outstanding, April 30, 2014 | 270,000 | $ | 0.35 | 4 | $ | - | |||||||||||
Exercisable, April 30, 2014 | - | N/A | N/A | N/A |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||||||
Income Taxes | ' | ||||||||||||||||
Note 13. Income Taxes | |||||||||||||||||
The components of income tax expense (benefit) are as follows: | |||||||||||||||||
For the | For the | For the | |||||||||||||||
Year Ended | Year Ended | Four Months Ended | |||||||||||||||
April 30, | December 31, | April 30, | April 30, | ||||||||||||||
2014 | 2012 | 2013 | 2012 | ||||||||||||||
Current: | |||||||||||||||||
Federal | $ | - | $ | - | $ | - | $ | - | |||||||||
State | - | - | - | - | |||||||||||||
- | - | - | - | ||||||||||||||
Deferred: | |||||||||||||||||
Federal | - | - | - | - | |||||||||||||
State | - | - | - | - | |||||||||||||
- | - | - | - | ||||||||||||||
Total Income tax expense (benefit) | $ | - | $ | - | $ | - | $ | - | |||||||||
Significant components of the Company's deferred income tax assets and liabilities are as follows: | |||||||||||||||||
April 30, | April 30, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Deferred tax assets: | |||||||||||||||||
Net operating loss | $ | 6,021,134 | $ | 4,256,530 | |||||||||||||
Allowance for doubtful accounts | 55,679 | 23,948 | |||||||||||||||
Intangible assets | 294,284 | 238,259 | |||||||||||||||
Deferred rent | 7,948 | 11,809 | |||||||||||||||
Stock-based compensation | 411,374 | 185,916 | |||||||||||||||
Contributions carryforward | 93 | 93 | |||||||||||||||
Total deferred tax assets | 6,790,512 | 4,716,555 | |||||||||||||||
Deferred tax liabilities: | |||||||||||||||||
Property and equipment | (126,297 | ) | (31,714 | ) | |||||||||||||
Total deferred tax liabilities | (126,297 | ) | (31,714 | ) | |||||||||||||
Deferred tax assets, net | 6,664,215 | 4,684,841 | |||||||||||||||
Valuation allowance: | |||||||||||||||||
Beginning of year | (4,684,841 | ) | (4,166,510 | ) | |||||||||||||
(Increase) during period | (1,979,374 | ) | (518,331 | ) | |||||||||||||
Ending balance | (6,664,215 | ) | (4,684,841 | ) | |||||||||||||
Net deferred tax asset | $ | - | $ | - | |||||||||||||
Presentation in the financial statements: | |||||||||||||||||
April 30, | April 30, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Deferred taxes, current portion | $ | - | $ | - | |||||||||||||
Deferred taxes, net of current portion | - | - | |||||||||||||||
Net deferred tax assets | $ | - | $ | - | |||||||||||||
A valuation allowance is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized. The Company recorded a valuation allowance at April 30, 2014 and 2013 due to the uncertainty of realization. Management believes that based upon its projection of future taxable operating income for the foreseeable future, it is more likely than not that the Company will not be able to realize the tax benefit associated with deferred tax assets. The net change in the valuation allowance during the year ended April 30, 2014 was an increase of $1,979,374. | |||||||||||||||||
At April 30, 2014, the Company had $16,248,831 of net operating loss carryforwards which will expire from 2029 to 2034. The Company believes its tax positions are all highly certain of being upheld upon examination. As such, the Company has not recorded a liability for unrecognized tax benefits. As of April 30, 2014, tax years 2010 through 2013 remain open for IRS audit. The Company has received no notice of audit from the Internal Revenue Service for any of the open tax years. | |||||||||||||||||
A reconciliation of income tax computed at the U.S. statutory rate to the effective income tax rate is as follows: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Statutory U.S. federal income tax rate | 34 | % | 34 | % | |||||||||||||
State income taxes, net of federal tax benefit | 3.1 | 3.1 | |||||||||||||||
Other | (0.1 | ) | (0.1 | ) | |||||||||||||
Change in valuation allowance | (37.0 | ) | (37.0 | ) | |||||||||||||
Effective income tax rate | 0 | % | 0 | % | |||||||||||||
Concentrations
Concentrations | 12 Months Ended |
Apr. 30, 2014 | |
Concentrations [Abstract] | ' |
Concentrations | ' |
Note 14. Concentrations | |
Concentration of Credit Risk | |
As of April 30, 2014, the Company's bank balances exceed FDIC insurance by approximately $592,000. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Apr. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Note 15. Related Party Transactions | |
On December 14, 2011, Aspen loaned $150,000 to an Aspen officer in exchange for a promissory note bearing 3% per annum. As collateral, the note was secured by 500,000 shares of Aspen's common stock owned personally by the officer. The note along with accrued interest was due and payable on September 14, 2012. During the year ended December 31, 2011, interest income of $210 was recognized on the note receivable and is included in other current assets. As of December 31, 2011, the balance due on the note receivable was $150,000, all of which is short-term. During the year ended December 31, 2012, interest income of $594 was recognized on the note receivable. On February 16, 2012, the note receivable from an officer was repaid along with accrued interest. | |
On March 30, 2008 and December 1, 2008, Aspen sold courseware pursuant to marketing agreements to HEMG, a related party and principal stockholder of Aspen whose president is Mr. Patrick Spada, the former Chairman of Aspen, in the amount of $455,000 and $600,000, respectively; UCC filings were filed accordingly. Under the marketing agreements, the receivables were due net 60 months. On September 16, 2011, HEMG pledged 772,793 Aspen Series C preferred shares (automatically converted to 654,850 shares of common stock on March 13, 2012) as collateral for this account receivable. On March 8, 2012, due to the impending reduction in the value of the collateral as the result of the Series C conversion ratio and Aspen's inability to engage Mr. Spada in good faith negotiations to increase HEMG's pledge, Michael Mathews, Aspen's CEO, pledged 117,943 shares of common stock of Aspen, owned personally by him, valued at $1.00 per share based on recent sales of capital stock as additional collateral to the accounts receivable, secured - related party. On March 13, 2012, Aspen deemed the receivables stemming from the sale of courseware curricula to be in default. | |
On April 4, 2012, the Company entered into an agreement with: (i) an individual, (ii) HEMG, and (iii) Mr. Spada. Under the agreement, (a) the individual purchased and HEMG sold to the individual 400,000 shares of common stock of the Company at $0.50 per share; (b) the Company guaranteed it would purchase at least 600,000 shares of common stock of the Company at $0.50 per share within 90 days of the agreement and the Company would use its best efforts to purchase from HEMG and resell to investors an additional 1,400,000 shares of common stock of the Company at $0.50 per share within 180 days of the agreement; (c) provided HEMG and Mr. Spada fulfilled their obligations under (a) and (b) above, the Company shall consent to additional private transfers by HEMG and/or Mr. Spada of up to 500,000 shares of common stock of the Company on or before March 13, 2013; (d) HEMG agreed to not sell, pledge or otherwise transfer 142,500 shares of common stock of the Company pending resolution of a dispute regarding the Company's claim that HEMG sold 131,500 shares of common stock of the Company without having enough authorized shares and a stockholder did not receive 11,000 shares of common stock of the Company owed to him as a result of a stock dividend; and (e) the Company waived any default of the accounts receivable, secured - related party and extend the due date to September 30, 2014. As of September 30, 2012, third party investors purchased 336,000 shares for $168,000 and the Company purchased 264,000 shares for $132,000 per section (b) above. Based on proceeds received on September 28, 2012 under a private placement at $0.35 per Unit (consisting of one common share and one-half of a warrant exercisable at $0.50 per share), the value of the aforementioned collateral decreased. Accordingly, as of December 31, 2012, the Company has recognized an allowance of $502,315 for this account receivable. Based on the reduction in value of the collateral to $0.19, the company recognized an expense of $123,647 during the year ended April 30, 2014. As of April 30, 2014 and April 30, 2013, the balance of the account receivable, net of allowance, was $146,831 and $270,478 respectively. | |
Prior to 2011, Aspen received $22,000 from a director of Aspen in exchange for a note payable bearing interest of 10%, due on demand. On November 21, 2012, the director forgave the $22,000 balance due from Aspen in exchange for 62,857 five-year vested non-Plan stock options of the Company exercisable at $0.35 per share. No gain was recognized as the settlement was between the Company and related parties. On January 16, 2013, these options were modified to be Plan options. | |
On March 13, 2012, the Company's CEO loaned the Company $300,000 and received a convertible note due March 31, 2013, bearing interest at 0.19% per annum. The note is convertible into shares of common stock of the Company at the rate of $1.00 per share upon five days written notice to the Company. The Company evaluated the convertible note and determined that, for the embedded conversion option, there was no beneficial conversion value to record as the conversion price is considered to be the fair market value of the shares of common stock on the note issue date. On September 4, 2012, the maturity date was extended to August 31, 2013. On December 17, 2012, the maturity date was extended to August 31, 2014. On July 16, 2014, the maturity date was extended to January 1, 2016. There was no accounting effect for these two modifications (See Note 9). | |
On August 14, 2012, the Company's CEO loaned the Company $300,000 and received a convertible note, payable on demand, bearing interest at 5% per annum. The note is convertible into shares of common stock of the Company at the rate of $0.35 per share (based on proceeds received on September 28, 2012 under a private placement at $0.35 per unit). The Company evaluated the convertible notes and determined that, for the embedded conversion option, there was no beneficial conversion value to record as the conversion price is considered to be the fair market value of the shares of common stock on the note issue date. On September 4, 2012, the maturity date was extended to August 31, 2013. On December 17, 2012, the maturity date was extended to August 31, 2014. On July 16, 2014, the maturity date was extended to January 1, 2016 (See Note 9). | |
On June 28, 2013, the Company received $1,000,000 as a loan from the Chief Executive Officer. This loan was for a term of 6 months with an annual interest rate of 10%, payable monthly. On September 25, 2013, as a term of the convertible debenture issued as discussed in Note 9, the maturity of the debt to the CEO was extended to April 2, 2015. On July 16, 2014, the maturity of the debt to the CEO was extended to January 1, 2016. | |
On March 10, 2014, several members of the Board of Directors invested $600,000 in exchange for 3,157,895 shares of common stock and 3,157,895 warrants at $0.19 per share. On April 30, 2014, a Director invested $100,000 in exchange for 526,318 shares of common stock and 526,318 warrants at $0.19 per share. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Apr. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Note 16. Subsequent Events | |
On June 4, 2014, a Director invested $50,000 in exchange for 263,158 shares of common stock and 263,158 warrants at $0.19 per share. On June 24, 2014, two Directors invested $100,000 in exchange for 526,318 shares of common stock and 526,318 warrants at $0.19 per share. | |
On July 29, 2014, the Company raised $1,631,500 from the sale of units of common stock and warrants at a price of $0.155 per share from a limited number of institutional and accredited investors. The units included 50% warrant coverage with five-year warrants exercisable at $0.19 per share. The Company issued a total of 10,525,809 shares of common stock and 5,262,905 warrants. Ms. Janet Gill, the Company's Chief Financial Officer invested $100,750. The Company agreed to register the common stock including the shares issuable upon the exercise of the warrants within 60 days of the final closing. The termination date in the offering is August 31, 2014. Following the last closing, the Company agreed to file a registration statement covering the shares of common stock including those issuable upon exercise of warrants. | |
In connection with the private placement referred to above, an existing shareholder agreed to waive an agreement precluding the Company from selling securities below a certain price in exchange for 1,750,000 shares. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||
Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Principles of Consolidation | ' | ||||||||||||||||||||||||
Principles of Consolidation | |||||||||||||||||||||||||
The consolidated financial statements include the accounts of Aspen Group, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. | |||||||||||||||||||||||||
Use of Estimates | ' | ||||||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||
The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements. Actual results could differ from those estimates. Significant estimates in the accompanying consolidated financial statements include the allowance for doubtful accounts and other receivables, the valuation of collateral on certain receivables, amortization periods and valuation of courseware and software development costs, valuation of beneficial conversion features in convertible debt, valuation of stock-based compensation, the valuation of net assets and liabilities from discontinued operations and the valuation allowance on deferred tax assets. | |||||||||||||||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||
The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. | |||||||||||||||||||||||||
Restricted cash | ' | ||||||||||||||||||||||||
Restricted Cash | |||||||||||||||||||||||||
Restricted cash represents amounts pledged as security for letters of credit for transactions involving Title IV programs, as well as funds held in escrow. The company considers $868,298 and $265,173 as restricted cash (shown as a current asset as of April 30, 2014 and April 30, 2013 respectively). | |||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||
Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The Company classifies assets and liabilities recorded at fair value under the fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. The fair value measurements are classified under the following hierarchy: | |||||||||||||||||||||||||
· | |||||||||||||||||||||||||
Level 1-Observable inputs that reflect quoted market prices (unadjusted) for identical assets and liabilities in active markets; | |||||||||||||||||||||||||
· | |||||||||||||||||||||||||
Level 2-Observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets and liabilities; and | |||||||||||||||||||||||||
· | |||||||||||||||||||||||||
Level 3-Unobservable inputs that are supported by little or no market activity that are significant to the fair value of assets or liabilities. | |||||||||||||||||||||||||
The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. | |||||||||||||||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts Receivable | ' | ||||||||||||||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts Receivable | |||||||||||||||||||||||||
All students are required to select both a primary and secondary payment option with respect to amounts due to Aspen for tuition, fees and other expenses. The most common payment option for Aspen's students is personal funds or payment made on their behalf by an employer. In instances where a student selects financial aid as the primary payment option, he or she often selects personal cash as the secondary option. If a student who has selected financial aid as his or her primary payment option withdraws prior to the end of a course but after the date that Aspen's institutional refund period has expired, the student will have incurred the obligation to pay the full cost of the course. If the withdrawal occurs before the date at which the student has earned 100% of his or her financial aid, Aspen will have to return all or a portion of the Title IV funds to the DOE and the student will owe Aspen all amounts incurred that are in excess of the amount of financial aid that the student earned and that Aspen is entitled to retain. In this case, Aspen must collect the receivable using the student's second payment option. | |||||||||||||||||||||||||
For accounts receivable from students, Aspen records an allowance for doubtful accounts for estimated losses resulting from the inability, failure or refusal of its students to make required payments, which includes the recovery of financial aid funds advanced to a student for amounts in excess of the student's cost of tuition and related fees. Aspen determines the adequacy of its allowance for doubtful accounts using a general reserve method based on an analysis of its historical bad debt experience, current economic trends, and the aging of the accounts receivable and student status. Aspen applies reserves to its receivables based upon an estimate of the risk presented by the age of the receivables and student status. Aspen writes off accounts receivable balances at the time the balances are deemed uncollectible. Aspen continues to reflect accounts receivable with an offsetting allowance as long as management believes there is a reasonable possibility of collection. | |||||||||||||||||||||||||
For accounts receivable from primary payors other than students, Aspen estimates its allowance for doubtful accounts by evaluating specific accounts where information indicates the customers may have an inability to meet financial obligations, such as bankruptcy proceedings and receivable amounts outstanding for an extended period beyond contractual terms. In these cases, Aspen uses assumptions and judgment, based on the best available facts and circumstances, to record a specific allowance for those customers against amounts due to reduce the receivable to the amount expected to be collected. These specific allowances are re-evaluated and adjusted as additional information is received. The amounts calculated are analyzed to determine the total amount of the allowance. Aspen may also record a general allowance as necessary. | |||||||||||||||||||||||||
Direct write-offs are taken in the period when Aspen has exhausted its efforts to collect overdue and unpaid receivables or otherwise evaluate other circumstances that indicate that Aspen should abandon such efforts. | |||||||||||||||||||||||||
Property and Equipment | ' | ||||||||||||||||||||||||
Property and Equipment | |||||||||||||||||||||||||
Property and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets per the following table. | |||||||||||||||||||||||||
Category | Depreciation Term | ||||||||||||||||||||||||
Call center equipment | 5 years | ||||||||||||||||||||||||
Computer and office equipment | 5 years | ||||||||||||||||||||||||
Furniture and fixtures | 7 years | ||||||||||||||||||||||||
Library (online) | 3 years | ||||||||||||||||||||||||
Software | 5 years | ||||||||||||||||||||||||
Costs incurred to develop internal-use software during the preliminary project stage are expensed as incurred. Internal-use software development costs are capitalized during the application development stage, which is after: (i) the preliminary project stage is completed; and (ii) management authorizes and commits to funding the project and it is probable the project will be completed and used to perform the function intended. Capitalization ceases at the point the software project is substantially complete and ready for its intended use, and after all substantial testing is completed. Upgrades and enhancements are capitalized if it is probable that those expenditures will result in additional functionality. Amortization is provided for on a straight-line basis over the expected useful life of five years of the internal-use software development costs and related upgrades and enhancements. When existing software is replaced with new software, the unamortized costs of the old software are expensed when the new software is ready for its intended use. | |||||||||||||||||||||||||
Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or the estimated useful lives of the assets. | |||||||||||||||||||||||||
Upon the retirement or disposition of property and equipment, the related cost and accumulated depreciation and amortization are removed and a gain or loss is recorded in the consolidated statements of operations. Repairs and maintenance costs are expensed in the period incurred. | |||||||||||||||||||||||||
Courseware | ' | ||||||||||||||||||||||||
Courseware | |||||||||||||||||||||||||
The Company records the costs of courseware in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 350 "Intangibles - Goodwill and Other". | |||||||||||||||||||||||||
Generally, costs of courseware are capitalized whereas costs for upgrades and enhancements are expensed as incurred. Courseware is stated at cost less accumulated amortization. Amortization is provided for on a straight-line basis over the expected useful life of five years. | |||||||||||||||||||||||||
Long-Lived Assets | ' | ||||||||||||||||||||||||
Long-Lived Assets | |||||||||||||||||||||||||
The Company assesses potential impairment to its long-lived assets when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Events and circumstances considered by the Company in determining whether the carrying value of identifiable intangible assets and other long-lived assets may not be recoverable include, but are not limited to: significant changes in performance relative to expected operating results, significant changes in the use of the assets, significant negative industry or economic trends, a significant decline in the Company's stock price for a sustained period of time, and changes in the Company's business strategy. An impairment loss is recorded when the carrying amount of the long-lived asset is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset exceeds fair value and is recorded as a reduction in the carrying value of the related asset and an expense to operating results. | |||||||||||||||||||||||||
Refunds Due Students | ' | ||||||||||||||||||||||||
Refunds Due Students | |||||||||||||||||||||||||
The Company receives Title IV funds from the Department of Education to cover tuition and living expenses. Until forwarded to the student, this amount is captured in a current liability account called Title IV Funds in Transit. Typically, the funds are paid to the students within two weeks. | |||||||||||||||||||||||||
Leases | ' | ||||||||||||||||||||||||
Leases | |||||||||||||||||||||||||
The Company enters into various lease agreements in conducting its business. At the inception of each lease, the Company evaluates the lease agreement to determine whether the lease is an operating or capital lease. Leases may contain initial periods of free rent and/or periodic escalations. When such items are included in a lease agreement, the Company records rent expense on a straight-line basis over the initial term of a lease. The difference between the rent payment and the straight-line rent expense is recorded as a deferred rent liability. The Company expenses any additional payments under its operating leases for taxes, insurance or other operating expenses as incurred. | |||||||||||||||||||||||||
Revenue Recognition and Deferred Revenue | ' | ||||||||||||||||||||||||
Revenue Recognition and Deferred Revenue | |||||||||||||||||||||||||
Revenues consist primarily of tuition and fees derived from courses taught by the Company online as well as from related educational resources that the Company provides to its students, such as access to our online materials and learning management system. Tuition revenue is recognized pro-rata over the applicable period of instruction. The Company allows a student to make three monthly tuition payments during each 10-week class. The Company maintains an institutional tuition refund policy, which provides for all or a portion of tuition to be refunded if a student withdraws during stated refund periods. Certain states in which students reside impose separate, mandatory refund policies, which override the Company's policy to the extent in conflict. If a student withdraws at a time when a portion or none of the tuition is refundable, then in accordance with its revenue recognition policy, the Company recognizes as revenue the tuition that was not refunded. Since the Company recognizes revenue pro-rata over the term of the course and because, under its institutional refund policy, the amount subject to refund is never greater than the amount of the revenue that has been deferred, under the Company's accounting policies revenue is not recognized with respect to amounts that could potentially be refunded. The Company's educational programs have starting and ending dates that differ from its fiscal quarters. Therefore, at the end of each fiscal quarter, a portion of revenue from these programs is not yet earned and is therefore deferred. The Company also charges students annual fees for library, technology and other services, which are recognized over the related service period. Deferred revenue represents the amount of tuition, fees, and other student payments received in excess of the portion recognized as revenue and it is included in current liabilities in the accompanying consolidated balance sheets. Other revenues may be recognized as sales occur or services are performed. | |||||||||||||||||||||||||
Revenue Recognition and Deferred Revenue - Discontinued Operations | ' | ||||||||||||||||||||||||
Revenue Recognition and Deferred Revenue - Discontinued Operations | |||||||||||||||||||||||||
The Company enters into certain revenue sharing arrangements with consultants whereby the consultants will develop course content primarily for technology-related courses, recommend, but not select, faculty, lease equipment on behalf of the Company for instructional purposes for the on-site laboratory portion of distance learning courses and make introductions to corporate and government sponsoring organizations that provide students for the courses. The Company has evaluated ASC 605-45 "Principal Agent Considerations" and determined that there are more indicators than not that the Company is the primary obligor in the arrangements since the Company establishes the tuition, interfaces with the student or sponsoring organization, selects the faculty, is responsible for delivering the course, is responsible for issuing any degrees or certificates, and is responsible for collecting the tuition and fees. The gross tuition and fees are included in revenues while the revenue sharing payments are included in instructional costs and services, an operating expense. As a result of presenting this component as discontinued operations, the revenues are now included in income from discontinued operations, net of income taxes for all periods presented (See Note 1). | |||||||||||||||||||||||||
Cost of Revenues | ' | ||||||||||||||||||||||||
Cost of Revenues | |||||||||||||||||||||||||
Cost of revenues consists of two categories of cost, instructional costs and services, and marketing and promotional costs. | |||||||||||||||||||||||||
Instructional Costs and Services | ' | ||||||||||||||||||||||||
Instructional Costs and Services | |||||||||||||||||||||||||
Instructional costs and services consist primarily of costs related to the administration and delivery of the Company's educational programs. This expense category includes compensation costs associated with online faculty, technology license costs and costs associated with other support groups that provide services directly to the students. | |||||||||||||||||||||||||
Marketing and Promotional Costs | ' | ||||||||||||||||||||||||
Marketing and Promotional Costs | |||||||||||||||||||||||||
Marketing and promotional costs include costs associated with purchasing leads, producing marketing materials, and advertising. Such costs are generally affected by the cost of advertising media and leads, the efficiency of the Company's marketing and recruiting efforts, and expenditures on advertising initiatives for new and existing academic programs. Advertising costs consists primarily of marketing leads and other branding and promotional activities. Non-direct response advertising activities are expensed as incurred, or the first time the advertising takes place, depending on the type of advertising activity. | |||||||||||||||||||||||||
General and Administrative | ' | ||||||||||||||||||||||||
General and Administrative | |||||||||||||||||||||||||
General and administrative expenses include compensation of employees engaged in corporate management, finance, human resources, information technology, compliance and other corporate functions. General and administrative expenses also include professional services fees, bad debt expense related to accounts receivable, financial aid processing costs, non-capitalizable courseware and software costs, travel and entertainment expenses and facility costs. | |||||||||||||||||||||||||
Reclassifications | ' | ||||||||||||||||||||||||
Reclassifications | |||||||||||||||||||||||||
For the year ended December 31, 2012, the Company reclassified $273,225, from Cost of Revenues to General and Administrative, both within Operating Expenses: | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Reclassifications | |||||||||||||||||||||||||
Financial | |||||||||||||||||||||||||
As | Dues, | Executive | Aid | ||||||||||||||||||||||
Previously | Fees, & | Consulting | Academic | Processing | As | ||||||||||||||||||||
Reported | Licenses | Expense | Chair | Costs | Reclassified | ||||||||||||||||||||
Operating Expenses: | |||||||||||||||||||||||||
Cost of Revenues | $ | 2,342,037 | (32,234 | ) | (111,927 | ) | (105,500 | ) | (23,564 | ) | $ | 2,068,812 | |||||||||||||
General and administrative | 5,235,282 | 32,234 | 111,927 | 105,500 | 23,564 | 5,508,507 | |||||||||||||||||||
Receivable Collateral Valuation Reserve | 502,315 | 502,315 | |||||||||||||||||||||||
Depreciation and amortization | 397,923 | 397,923 | |||||||||||||||||||||||
Total Operating Expenses | $ | 8,477,557 | $ | 8,477,557 | |||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||
The Company uses the asset and liability method to compute the differences between the tax basis of assets and liabilities and the related financial amounts. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount that more likely than not will be realized. The Company has deferred tax assets and liabilities that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets are subject to periodic recoverability assessments. Realization of the deferred tax assets, net of deferred tax liabilities, is principally dependent upon achievement of projected future taxable income. | |||||||||||||||||||||||||
The Company records a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company accounts for uncertainty in income taxes using a two-step approach for evaluating tax positions. Step one, recognition, occurs when the Company concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination. Step two, measurement, is only addressed if the position is more likely than not to be sustained. Under step two, the tax benefit is measured as the largest amount of benefit, determined on a cumulative probability basis, which is more likely than not to be realized upon ultimate settlement. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. | |||||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||
Stock-based compensation expense is measured at the grant date fair value of the award and is expensed over the requisite service period. For employee stock-based awards, the Company calculates the fair value of the award on the date of grant using the Black-Scholes option pricing model. Determining the fair value of stock-based awards at the grant date under this model requires judgment, including estimating volatility, employee stock option exercise behaviors and forfeiture rates. The assumptions used in calculating the fair value of stock-based awards represent the Company's best estimates, but these estimates involve inherent uncertainties and the application of management judgment. For non-employee stock-based awards, the Company calculates the fair value of the award on the date of grant in the same manner as employee awards, however, the awards are revalued at the end of each reporting period and the prorata compensation expense is adjusted accordingly until such time the non-employee award is fully vested, at which time the total compensation recognized to date shall equal the fair value of the stock-based award as calculated on the measurement date, which is the date at which the award recipient's performance is complete. The estimation of stock-based awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from original estimates, such amounts are recorded as a cumulative adjustment in the period estimates are revised. | |||||||||||||||||||||||||
Net Loss Per Share | ' | ||||||||||||||||||||||||
Net Loss Per Share | |||||||||||||||||||||||||
Net loss per share of common stock is based on the weighted average number of shares outstanding during each year. Options to purchase 10,746,412 shares of common stock, warrants to purchase 23,144,005 shares of common stock, and $775,000 of convertible debt (convertible into 1,225,564 shares of common stock) were outstanding during the year ended April 30, 2014, but were not included in the computation of diluted loss per share because the effects would have been anti-dilutive. Options to purchase 7,614,381 shares of common stock, warrants to purchase 9,090,292 shares of common stock, and $800,000 of convertible debt (convertible into 1,357,143 shares of common stock) were outstanding during the four months ended April 30, 2013, but were not included in the computation of diluted loss per share because the effects would have been anti-dilutive. Options to purchase 6,972,967 shares of common stock, warrants to purchase 8,112,696 shares of common stock, and $800,000 of convertible debt (convertible into 1,357,143 shares of common stock) were outstanding during the year ended December 31, 2012, but were not included in the computation of diluted loss per share because the effects would have been anti-dilutive. The options, warrants and convertible debt are considered to be common stock equivalents and are only included in the calculation of diluted earnings per shares of common stock when their effect is dilutive. | |||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||
Segment Information | |||||||||||||||||||||||||
The Company operates in one reportable segment as a single educational delivery operation using a core infrastructure that serves the curriculum and educational delivery needs of its online students regardless of geography. The Company's chief operating decision makers, its CEO and President, manage the Company's operations as a whole, and no revenue, expense or operating income information is evaluated by the chief operating decision makers on any component level. | |||||||||||||||||||||||||
Recent Accounting Pronouncements | ' | ||||||||||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||||||||||
We have implemented all new accounting standards that are in effect and that may impact our consolidated financial statements and do not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our consolidated financial position or results of operations. |
Nature_of_Operations_and_Liqui1
Nature of Operations and Liquidity (Tables) | 12 Months Ended | ||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||
Nature of Operations and Liquidity [Abstract] | ' | ||||||||||||||||
Schedule of Discontinued Operations | ' | ||||||||||||||||
The following table shows the results of the "Smart Home Integration Certificate" program component included in the income (loss) from discontinued operations: | |||||||||||||||||
For the year | For the year | ||||||||||||||||
ended | ended | For the | |||||||||||||||
April 30, | December 31, | Four Months Ended April 30, | |||||||||||||||
2014 | 2012 | 2013 | 2012 | ||||||||||||||
(Unaudited) | |||||||||||||||||
Revenues | $ | 549,125 | $ | 2,332,283 | $ | 140,732 | $ | 1,077,875 | |||||||||
Costs and expenses: | |||||||||||||||||
Instructional costs and services | 494,213 | 2,026,928 | 126,659 | 929,362 | |||||||||||||
General and administrative | (29,751 | ) | 169,045 | 126,000 | - | ||||||||||||
Total costs and expenses | 464,462 | 2,195,973 | 252,659 | 929,362 | |||||||||||||
Income (loss) from discontinued operations, net of income taxes | $ | 84,663 | $ | 136,310 | $ | (111,927 | ) | $ | 148,513 | ||||||||
The major classes of assets and liabilities of discontinued operations on the balance sheet are as follows: | |||||||||||||||||
April 30, | April 30, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | $ | - | $ | - | |||||||||||||
Accounts receivable, net of allowance of $481,531 and $295,045, respectively | 5,250 | 113,822 | |||||||||||||||
Other current assets | - | - | |||||||||||||||
Net assets from discontinued operations | $ | 5,250 | $ | 113,822 | |||||||||||||
Liabilities | |||||||||||||||||
Accounts payable | $ | - | $ | 1,178 | |||||||||||||
Accrued expenses | - | 70,201 | |||||||||||||||
Deferred revenue | - | 53,125 | |||||||||||||||
Net liabilities from discontinued operations | $ | - | $ | 124,504 |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||
Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Property and Equipment Useful Lives | ' | ||||||||||||||||||||||||
Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets per the following table. | |||||||||||||||||||||||||
Category | Depreciation Term | ||||||||||||||||||||||||
Call center equipment | 5 years | ||||||||||||||||||||||||
Computer and office equipment | 5 years | ||||||||||||||||||||||||
Furniture and fixtures | 7 years | ||||||||||||||||||||||||
Library (online) | 3 years | ||||||||||||||||||||||||
Software | 5 years | ||||||||||||||||||||||||
Schedule of Reclassifications | ' | ||||||||||||||||||||||||
For the year ended December 31, 2012, the Company reclassified $273,225, from Cost of Revenues to General and Administrative, both within Operating Expenses: | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Reclassifications | |||||||||||||||||||||||||
Financial | |||||||||||||||||||||||||
As | Dues, | Executive | Aid | ||||||||||||||||||||||
Previously | Fees, & | Consulting | Academic | Processing | As | ||||||||||||||||||||
Reported | Licenses | Expense | Chair | Costs | Reclassified | ||||||||||||||||||||
Operating Expenses: | |||||||||||||||||||||||||
Cost of Revenues | $ | 2,342,037 | (32,234 | ) | (111,927 | ) | (105,500 | ) | (23,564 | ) | $ | 2,068,812 | |||||||||||||
General and administrative | 5,235,282 | 32,234 | 111,927 | 105,500 | 23,564 | 5,508,507 | |||||||||||||||||||
Receivable Collateral Valuation Reserve | 502,315 | 502,315 | |||||||||||||||||||||||
Depreciation and amortization | 397,923 | 397,923 | |||||||||||||||||||||||
Total Operating Expenses | $ | 8,477,557 | $ | 8,477,557 |
Accounts_Receivable_Tables
Accounts Receivable (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Accounts Receivable [Abstract] | ' | ||||||||
Schedule of Accounts Receivable | ' | ||||||||
Accounts receivable consisted of the following at April 30, 2014 and April 30, 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Accounts receivable | $ | 871,427 | $ | 437,323 | |||||
Less: Allowance for doubtful accounts | (221,537 | ) | (72,535 | ) | |||||
Accounts receivable, net | $ | 649,890 | $ | 364,788 |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Property, Plant and Equipment [Line Items] | ' | ||||||||
Schedule of Property and Equipment | ' | ||||||||
Property and equipment consisted of the following at April 30, 2014 and 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Call center | $ | 122,653 | $ | 121,313 | |||||
Computer and office equipment | 66,118 | 61,036 | |||||||
Furniture and fixtures | 36,446 | 32,914 | |||||||
Library (online) | 100,000 | 100,000 | |||||||
Software | 1,894,215 | 1,518,142 | |||||||
2,219,432 | 1,833,405 | ||||||||
Accumulated depreciation and amortization | (938,703 | ) | (569,665 | ) | |||||
Property and equipment, net | $ | 1,280,729 | $ | 1,263,740 | |||||
Software [Member] | ' | ||||||||
Property, Plant and Equipment [Line Items] | ' | ||||||||
Schedule of Intangible Asset | ' | ||||||||
Software consisted of the following at April 30, 2014 and April 30, 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Software | $ | 1,894,215 | $ | 1,518,142 | |||||
Accumulated amortization | (720,823 | ) | (386,599 | ) | |||||
Software, net | $ | 1,173,392 | $ | 1,131,543 | |||||
Schedule of Estimated Future Amortization Expense | ' | ||||||||
Estimated amortization expense of software is as follows: | |||||||||
Year Ending April 30, | |||||||||
2015 | $ | 378,843 | |||||||
2016 | 377,977 | ||||||||
2017 | 255,265 | ||||||||
2018 | 122,230 | ||||||||
2019 | 39,077 | ||||||||
Total | $ | 1,173,392 |
Courseware_Tables
Courseware (Tables) (Courseware [Member]) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Courseware [Member] | ' | ||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ||||||||
Schedule of Intangible Asset | ' | ||||||||
Courseware consisted of the following at April 30, 2014, and 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Courseware | $ | 2,104,038 | $ | 2,097,538 | |||||
Accumulated amortization | (1,995,156 | ) | (1,889,443 | ) | |||||
Courseware, net | $ | 108,882 | $ | 208,095 | |||||
Schedule of Estimated Future Amortization Expense | ' | ||||||||
Estimated future amortization expense of course curricula as of April 30, 2014 is as follows: | |||||||||
Year Ending April 30, | |||||||||
2015 | $ | 66,317 | |||||||
2016 | 29,030 | ||||||||
2017 | 10,396 | ||||||||
2018 | 2,306 | ||||||||
2019 | 833 | ||||||||
Total | $ | 108,882 | |||||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Accrued Expenses [Abstract] | ' | ||||||||
Schedule of Accrued Expenses | ' | ||||||||
Accrued expenses consisted of the following at April 30, 2014 and 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Accrued compensation | $ | - | $ | 44,692 | |||||
Accrued Interest | 84,921 | 28,848 | |||||||
Other accrued expenses | 59,054 | 55,029 | |||||||
Accrued expenses | $ | 143,975 | $ | 128,569 |
Notes_Payable_Tables
Notes Payable (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Notes Payable [Abstract] | ' | ||||||||
Schedule of Notes Payable | ' | ||||||||
Notes payable consisted of the following at April 30, 2014 and 2013: | |||||||||
April 30, | April 30, | ||||||||
2014 | 2013 | ||||||||
Note payable - related party originating August 14, 2012; no monthly payments required; bearing interest at 5% [A] [D] | $ | 300,000 | $ | 300,000 | |||||
Note payable - related party originating March 13, 2012; no monthly payments required; bearing interest at 0.19% [A] [D] | 300,000 | 300,000 | |||||||
Note payable - originating February 25, 2012; no monthly payments required [B] | 75,000 | 100,000 | |||||||
Note payable - originating February 27, 2012; no monthly payments required [C] | 50,000 | 50,000 | |||||||
Note payable - originating February 29, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 29, 2014 (In default at April 30, 2014) | 50,000 | 50,000 | |||||||
Loan Payable Officer - related party originating June 28, 2013; no monthly payments required; bearing interest at 10%; maturing January 1, 2016 [D] | 1,000,000 | - | |||||||
Debentures payable, net of OID | 1,787,229 | - | |||||||
Total | 3,562,229 | 800,000 | |||||||
Less: Current maturities (loans payable) | |||||||||
Less: Current maturities (notes payable) | (175,000 | ) | (200,000 | ) | |||||
Less: Current maturities (Debentures Payable) | (1,787,229 | ) | |||||||
Subtotal | 1,600,000 | 600,000 | |||||||
Less: amount due after one year for notes payable | - | - | |||||||
Amount due after one year for convertible notes payable | $ | 1,600,000 | $ | 600,000 | |||||
------- | |||||||||
[A] - Effective September 4, 2012, note amended to provide a maturity date of August 31, 2013. Effective December 17, 2012, note further amended to provide a maturity date of August 31, 2014. On September 25, 2013, maturity date had been extended to April 5, 2015. On July 16, 2014, the maturity date had been extended to January 1, 2016. | |||||||||
[B] - Effective February 28, 2014 the note was amended to provide a maturity date of December 1, 2014 and interest rate of 3.25%. | |||||||||
[C] - Effective February 18, 2014 the note was amended to provide a maturity date of December 1, 2014 and interest rate of 3.25%. | |||||||||
[D] - Effective July 16, 2014 the note was amended to provide a maturity date of January 1, 2016. | |||||||||
Schedule of Future Maturities of Notes Payable | ' | ||||||||
Future maturities of notes payable as of April 30, 2014 are as follows: | |||||||||
Year Ending April 30, | |||||||||
2015 | $ | - | |||||||
2016 | 1,600,000 | ||||||||
$ | 1,600,000 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Apr. 30, 2014 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments | ' | ||||
The following is a schedule by years of future minimum rental payments required under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of April 30, 2014: | |||||
Year Ending April 30, | |||||
2015 | $ | 144,332 | |||
2016 | 72,427 | ||||
2017 | - | ||||
Total minimum payments required | $ | 216,759 |
Stockholders_Equity_Deficiency1
Stockholders' Equity (Deficiency) (Tables) | 12 Months Ended | ||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||
Stockholders' Equity (Deficiency) [Abstract] | ' | ||||||||||||||||
Schedule of Assets Acquired and Liabilities Assumed | ' | ||||||||||||||||
The assets acquired and liabilities assumed from the publicly-held company were as follows: | |||||||||||||||||
Cash and cash equivalents | $ | 337 | |||||||||||||||
Liabilities assumed | (21,206 | ) | |||||||||||||||
Net | $ | (20,869 | ) | ||||||||||||||
Schedule of Warrants Activity | ' | ||||||||||||||||
A summary of the Company's warrant activity during the year ended April 30, 2014 is presented below: | |||||||||||||||||
Weighted | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Number of | Exercise | Contractual | Intrinsic | ||||||||||||||
Warrants | Shares | Price | Term | Value | |||||||||||||
Balance Outstanding, April 30, 2013 | 9,090,292 | $ | 0.46 | ||||||||||||||
Granted | 18,325,553 | 0.26 | |||||||||||||||
Exercised | (4,231,840 | ) | 0.19 | ||||||||||||||
Forfeited | (40,000 | ) | 0.5 | ||||||||||||||
Expired | - | ||||||||||||||||
Balance Outstanding, April 30, 2014 | 23,144,005 | $ | 0.31 | 4.6 | $ | - | |||||||||||
Exercisable, April 30, 2014 | 18,249,528 | $ | 0.31 | 4.6 | $ | - | |||||||||||
Stock Incentive Plan and Stock Option Grants to Employees and Directors [Member] | ' | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||||||
Schedule of Assumptions Used In Valuing Stock Options | ' | ||||||||||||||||
The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the year ended April 30, 2014 the four months ended April 30, 2013, and during the year ended December 31, 2012: | |||||||||||||||||
April 30, | April 30, | December 31, | |||||||||||||||
Assumptions | 2014 | 2013 | 2012 | ||||||||||||||
Expected life (years) | 3.3 | 3.5 - 3.75 | 2.5 - 3.8 | ||||||||||||||
Expected volatility | 45.00% | 46.3%- 46.5% | 44.2% - 50.9% | ||||||||||||||
Weighted-average volatility | 45.00% | 46.50% | 49.00% | ||||||||||||||
Risk-free interest rate | 0.38% | .36%-.44% | 0.31% - 0.60% | ||||||||||||||
Dividend yield | 0.00% | 0.00% | 0.00% | ||||||||||||||
Expected forfeiture rate | n/a | 3.90% | 1.70% | ||||||||||||||
Schedule of Stock Option Activity | ' | ||||||||||||||||
A summary of the Company's stock option activity for employees and directors during the year ended April 30, 2014 is presented below: | |||||||||||||||||
Weighted | |||||||||||||||||
Weighted | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Number of | Exercise | Contractual | Intrinsic | ||||||||||||||
Options | Shares | Price | Term | Value | |||||||||||||
Balance Outstanding, April 30, 2013 | 7,344,381 | $ | 0.35 | ||||||||||||||
Granted | 3,778,711 | $ | 0.25 | ||||||||||||||
Exercised | - | ||||||||||||||||
Forfeited | (646,680 | ) | $ | 0.35 | |||||||||||||
Expired | - | ||||||||||||||||
Balance Outstanding, April 30, 2014 | 10,476,412 | $ | 0.35 | 4 | $ | - | |||||||||||
Exercisable, April 30, 2014 | 2,050,332 | $ | 0.35 | 3.8 | $ | - | |||||||||||
Stock Option Grants to Non-Employees [Member] | ' | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||||||
Schedule of Stock Option Activity | ' | ||||||||||||||||
A summary of the Company's stock option activity for non-employees during the year ended April 30, 2014 is presented below: | |||||||||||||||||
Weighted | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Number of | Exercise | Contractual | Intrinsic | ||||||||||||||
Options | Shares | Price | Term | Value | |||||||||||||
Balance Outstanding, April 30, 2013 | 270,000 | $ | 0.35 | ||||||||||||||
Granted | - | $ | - | ||||||||||||||
Exercised | - | ||||||||||||||||
Forfeited | - | ||||||||||||||||
Expired | - | ||||||||||||||||
Balance Outstanding, April 30, 2014 | 270,000 | $ | 0.35 | 4 | $ | - | |||||||||||
Exercisable, April 30, 2014 | - | N/A | N/A | N/A |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||||||
Schedule of Income Tax Expense (Benefit) | ' | ||||||||||||||||
The components of income tax expense (benefit) are as follows: | |||||||||||||||||
For the | For the | For the | |||||||||||||||
Year Ended | Year Ended | Four Months Ended | |||||||||||||||
April 30, | December 31, | April 30, | April 30, | ||||||||||||||
2014 | 2012 | 2013 | 2012 | ||||||||||||||
Current: | |||||||||||||||||
Federal | $ | - | $ | - | $ | - | $ | - | |||||||||
State | - | - | - | - | |||||||||||||
- | - | - | - | ||||||||||||||
Deferred: | |||||||||||||||||
Federal | - | - | - | - | |||||||||||||
State | - | - | - | - | |||||||||||||
- | - | - | - | ||||||||||||||
Total Income tax expense (benefit) | $ | - | $ | - | $ | - | $ | - | |||||||||
Schedule of Deferred Income Tax Assets and Liabilities | ' | ||||||||||||||||
Significant components of the Company's deferred income tax assets and liabilities are as follows: | |||||||||||||||||
April 30, | April 30, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Deferred tax assets: | |||||||||||||||||
Net operating loss | $ | 6,021,134 | $ | 4,256,530 | |||||||||||||
Allowance for doubtful accounts | 55,679 | 23,948 | |||||||||||||||
Intangible assets | 294,284 | 238,259 | |||||||||||||||
Deferred rent | 7,948 | 11,809 | |||||||||||||||
Stock-based compensation | 411,374 | 185,916 | |||||||||||||||
Contributions carryforward | 93 | 93 | |||||||||||||||
Total deferred tax assets | 6,790,512 | 4,716,555 | |||||||||||||||
Deferred tax liabilities: | |||||||||||||||||
Property and equipment | (126,297 | ) | (31,714 | ) | |||||||||||||
Total deferred tax liabilities | (126,297 | ) | (31,714 | ) | |||||||||||||
Deferred tax assets, net | 6,664,215 | 4,684,841 | |||||||||||||||
Valuation allowance: | |||||||||||||||||
Beginning of year | (4,684,841 | ) | (4,166,510 | ) | |||||||||||||
(Increase) during period | (1,979,374 | ) | (518,331 | ) | |||||||||||||
Ending balance | (6,664,215 | ) | (4,684,841 | ) | |||||||||||||
Net deferred tax asset | $ | - | $ | - | |||||||||||||
Presentation in the financial statements: | |||||||||||||||||
April 30, | April 30, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Deferred taxes, current portion | $ | - | $ | - | |||||||||||||
Deferred taxes, net of current portion | - | - | |||||||||||||||
Net deferred tax assets | $ | - | $ | - | |||||||||||||
Schedule of Income Tax Reconciliation | ' | ||||||||||||||||
A reconciliation of income tax computed at the U.S. statutory rate to the effective income tax rate is as follows: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Statutory U.S. federal income tax rate | 34 | % | 34 | % | |||||||||||||
State income taxes, net of federal tax benefit | 3.1 | 3.1 | |||||||||||||||
Other | (0.1 | ) | (0.1 | ) | |||||||||||||
Change in valuation allowance | (37.0 | ) | (37.0 | ) | |||||||||||||
Effective income tax rate | 0 | % | 0 | % | |||||||||||||
Nature_of_Operations_and_Liqui2
Nature of Operations and Liquidity (Narrative) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 | Jul. 31, 2014 |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | ' | ' | ' |
Approximate cash position | $1,100,000 | ' | ' |
Restricted cash | 868,298 | 265,173 | ' |
Financing completed | ' | ' | 1,631,500 |
Total financing | $3,562,229 | $800,000 | $4,030,000 |
Nature_of_Operations_and_Liqui3
Nature of Operations and Liquidity (Schedule of Discontinued Operations) (Details) (USD $) | 4 Months Ended | 12 Months Ended | ||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | |
Discontinued Operations | ' | ' | ' | ' |
Revenues | $140,732 | $1,077,875 | $549,125 | $2,332,283 |
Costs and expenses: | ' | ' | ' | ' |
Instructional costs and services | 126,659 | 929,362 | 494,213 | 2,026,928 |
General and administrative | 126,000 | ' | -29,751 | 169,045 |
Total costs and expenses | 252,659 | 929,362 | 464,462 | 2,195,973 |
Income (loss) from discontinued operations, net of income taxes | -111,927 | 148,513 | 84,663 | 136,310 |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Accounts receivable, net of allowance of $481,531 and $295,045, respectively | 113,822 | ' | 5,250 | ' |
Other current assets | ' | ' | ' | ' |
Net assets from discontinued operations | 113,822 | ' | 5,250 | ' |
Liabilities | ' | ' | ' | ' |
Accounts payable | 1,178 | ' | ' | ' |
Accrued expenses | 70,201 | ' | ' | ' |
Deferred revenue | 53,125 | ' | ' | ' |
Net liabilities from discontinued operations | 124,504 | ' | ' | ' |
Allowance for doubtful accounts receivable from discontinued operations | $295,045 | ' | $481,531 | ' |
Significant_Accounting_Policie3
Significant Accounting Policies (Narrative) (Details) (USD $) | 4 Months Ended | 12 Months Ended | |
Apr. 30, 2013 | Apr. 30, 2014 | Dec. 31, 2012 | |
Significant Accounting Policies [Abstract] | ' | ' | ' |
Restricted cash | 265,173 | 868,298 | ' |
Accrued Interest | 28,848 | 84,921 | ' |
Courseware, expected useful life | ' | '5 years | ' |
Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities | 7,614,381 | 10,746,412 | 6,972,967 |
Warrant [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities | 9,090,292 | 23,144,005 | 8,112,696 |
Convertible Debt [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities | 1,357,143 | 1,225,564 | 1,357,143 |
Convertible debt | 800,000 | 775,000 | 800,000 |
Significant_Accounting_Policie4
Significant Accounting Policies (Schedule of Property and Equipment Useful Lives) (Details) | 12 Months Ended |
Apr. 30, 2014 | |
Call center [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciation Term | '5 years |
Computer and office equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciation Term | '5 years |
Furniture and fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciation Term | '7 years |
Library (online) [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciation Term | '3 years |
Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciation Term | '5 years |
Significant_Accounting_Policie5
Significant Accounting Policies (Schedule of Reclassifications) (Details) (USD $) | 4 Months Ended | 12 Months Ended | ||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | |
Operating Expenses: | ' | ' | ' | ' |
Cost of Revenues | $749,930 | $865,408 | $1,859,764 | $2,068,812 |
General and administrative | 1,670,812 | 2,123,685 | 6,300,229 | 5,508,507 |
Receivable Collateral Valuation Reserve | ' | ' | 123,647 | 502,315 |
Depreciation and amortization | 159,269 | 121,812 | 474,752 | 397,923 |
Total Operating Expenses | 2,580,011 | 3,110,905 | 8,758,392 | 8,477,557 |
As Previously Reported [Member] | ' | ' | ' | ' |
Operating Expenses: | ' | ' | ' | ' |
Cost of Revenues | ' | ' | ' | 2,342,037 |
General and administrative | ' | ' | ' | 5,235,282 |
Receivable Collateral Valuation Reserve | ' | ' | ' | 502,315 |
Depreciation and amortization | ' | ' | ' | 397,923 |
Total Operating Expenses | ' | ' | ' | 8,477,557 |
Restatement Adjustment [Member] | ' | ' | ' | ' |
Operating Expenses: | ' | ' | ' | ' |
Cost of Revenues | ' | ' | ' | -273,225 |
General and administrative | ' | ' | ' | 273,225 |
Restatement Adjustment [Member] | Dues, Fees, and Licenses [Member] | ' | ' | ' | ' |
Operating Expenses: | ' | ' | ' | ' |
Cost of Revenues | ' | ' | ' | -32,234 |
General and administrative | ' | ' | ' | 32,234 |
Receivable Collateral Valuation Reserve | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' |
Total Operating Expenses | ' | ' | ' | ' |
Restatement Adjustment [Member] | Consulting Expense [Member] | ' | ' | ' | ' |
Operating Expenses: | ' | ' | ' | ' |
Cost of Revenues | ' | ' | ' | -111,927 |
General and administrative | ' | ' | ' | 111,927 |
Receivable Collateral Valuation Reserve | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' |
Total Operating Expenses | ' | ' | ' | ' |
Restatement Adjustment [Member] | Executive Academic Chair [Member] | ' | ' | ' | ' |
Operating Expenses: | ' | ' | ' | ' |
Cost of Revenues | ' | ' | ' | -105,500 |
General and administrative | ' | ' | ' | 105,500 |
Receivable Collateral Valuation Reserve | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' |
Total Operating Expenses | ' | ' | ' | ' |
Restatement Adjustment [Member] | Financial Aid Processing Costs [Member] | ' | ' | ' | ' |
Operating Expenses: | ' | ' | ' | ' |
Cost of Revenues | ' | ' | ' | -23,564 |
General and administrative | ' | ' | ' | 23,564 |
Receivable Collateral Valuation Reserve | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' |
Total Operating Expenses | ' | ' | ' | ' |
Accounts_Receivable_Details
Accounts Receivable (Details) (USD $) | 4 Months Ended | 12 Months Ended | ||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | |
Accounts Receivable [Abstract] | ' | ' | ' | ' |
Accounts receivable | $437,323 | ' | $871,427 | ' |
Less: Allowance for doubtful accounts | -72,535 | ' | -221,537 | ' |
Accounts receivable, net | 364,788 | ' | 649,890 | ' |
Bad debt expense | $37,000 | $32,955 | $154,732 | $133,907 |
Secured_Note_and_Accounts_Rece
Secured Note and Accounts Receivable - Related Parties (Details) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||
Mar. 31, 2012 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 08, 2012 | Dec. 31, 2008 | Mar. 31, 2008 | Mar. 13, 2012 | Sep. 16, 2011 | Mar. 13, 2012 | |
CEO [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Third Party [Member] | |||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Courseware sales | ' | ' | ' | ' | ' | ' | ' | $600,000 | $455,000 | ' | ' | ' |
Series C Preferred Shares pledged by HEMG | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 772,793 | ' |
Series C Preferred Shares pledeged by HEMG, converted to common shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 654,850 | ' | ' |
Common shares pledged | ' | ' | ' | ' | ' | ' | 117,943 | ' | ' | ' | ' | ' |
Price per share | ' | ' | ' | ' | ' | ' | $1 | ' | ' | ' | ' | $0.50 |
Accounts receivable, secured - related party, net of allowance | ' | 270,478 | ' | 146,831 | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts | ' | 502,315 | ' | 625,963 | ' | ' | ' | ' | ' | ' | ' | ' |
Third party investors purchased, shares | ' | ' | ' | ' | ' | 336,000 | ' | ' | ' | ' | ' | 400,000 |
Purchase value of shares | ' | ' | ' | ' | ' | 168,000 | ' | ' | ' | ' | ' | ' |
Company purchased, shares | ' | ' | ' | ' | ' | 264,000 | ' | ' | ' | ' | ' | ' |
Company purchased shares, value | ' | ' | ' | ' | ' | 132,000 | ' | ' | ' | ' | ' | ' |
Shares guaranteed to be purchased by the Company | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares the Company guaranteed it would use its best efforts to purchase from HEMG and resell to investors | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Company shall consent to additional private transfers | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares HEMG agreed to not sell, pledge or otherwise transfer | 142,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dispute regarding the Company's claim that HEMG sold 131,500 common shares of the Company without having enough authorized shares | 131,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares a stockholder did not receive | 11,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivable Collateral Valuation Reserve | ' | ' | ' | $123,647 | $502,315 | ' | ' | ' | ' | ' | ' | ' |
Property_and_Equipment_Narrati
Property and Equipment (Narrative) (Details) (USD $) | 4 Months Ended | 12 Months Ended | ||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | |
Property and Equipment [Abstract] | ' | ' | ' | ' |
Depreciation expense | $113,794 | $73,718 | $369,039 | $256,363 |
Accumulated depreciation | 569,665 | ' | 938,703 | ' |
Software amortization expense | $99,855 | $64,192 | $334,224 | $226,454 |
Property_and_Equipment_Schedul
Property and Equipment (Schedule of Property and Equipment) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $2,219,432 | $1,833,405 |
Less accumulated depreciation and amortization | -938,703 | -569,665 |
Total property and equipment, net | 1,280,729 | 1,263,740 |
Call center [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 122,653 | 121,313 |
Computer and office equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 66,118 | 61,036 |
Furniture and fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 36,446 | 32,914 |
Library (online) [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 100,000 | 100,000 |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $1,894,215 | $1,518,142 |
Property_and_Equipment_Schedul1
Property and Equipment (Schedule of Software, Net) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' |
Intangible asset, net | $108,882 | $208,095 |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Intangible asset, gross | 1,894,215 | 1,518,142 |
Accumulated amortization | -720,823 | -386,599 |
Intangible asset, net | $1,173,392 | $1,131,543 |
Property_and_Equipment_Schedul2
Property and Equipment (Schedule of Estimated Amortization Expense of Software) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' |
Intangible asset, net | $108,882 | $208,095 |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
2015 | 378,843 | ' |
2016 | 377,977 | ' |
2017 | 255,265 | ' |
2018 | 122,230 | ' |
2019 | 39,077 | ' |
Intangible asset, net | $1,173,392 | $1,131,543 |
Courseware_Narrative_Details
Courseware (Narrative) (Details) (Courseware [Member], USD $) | 4 Months Ended | 12 Months Ended | ||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | |
Courseware [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Courseware costs capitalized | ' | $8,200 | $6,500 | $25,300 |
Amortization | $45,476 | $48,094 | $105,713 | $141,560 |
Courseware_Schedule_of_Coursew
Courseware (Schedule of Courseware, Net) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, net | $108,882 | $208,095 |
Courseware [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross | 2,104,038 | 2,097,538 |
Accumulated amortization | -1,995,156 | -1,889,443 |
Intangible asset, net | $108,882 | $208,095 |
Courseware_Schedule_of_Estimat
Courseware (Schedule of Estimated Future Amortization Expense) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, net | $108,882 | $208,095 |
Courseware [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
2015 | 66,317 | ' |
2016 | 29,030 | ' |
2017 | 10,396 | ' |
2018 | 2,306 | ' |
2019 | 833 | ' |
Intangible asset, net | $108,882 | $208,095 |
Accrued_Expenses_Details
Accrued Expenses (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Accrued Expenses [Abstract] | ' | ' |
Accrued compensation | ' | $44,692 |
Accrued Interest | 84,921 | 28,848 |
Other accrued expenses | 59,054 | 55,029 |
Accrued expenses | $143,975 | $128,569 |
Loans_Payable_Related_Party_De
Loans Payable - Related Party (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Jul. 31, 2014 |
CEO [Member] | CEO [Member] | CEO [Member] | |||
Loan Payable Officer - Related Party Dated June 28, 2013 [Member] | Loan Payable Officer - Related Party Dated June 28, 2013 [Member] | Loan Payable Officer - Related Party Dated June 28, 2013 [Member] | |||
Subsequent Event [Member] | |||||
Short-term Debt [Line Items] | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | $1,000,000 | ' |
Term of debentures | ' | ' | ' | '6 months | ' |
Interest rate | ' | ' | ' | 10.00% | ' |
Maturity date | ' | ' | 2-Apr-15 | ' | 1-Jan-16 |
Amount due after one year for convertible notes payable | $1,600,000 | $600,000 | ' | ' | ' |
Notes_Payable_Narrative_Detail
Notes Payable (Narrative) (Details) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Apr. 30, 2013 | Feb. 28, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Apr. 30, 2012 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Aug. 31, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Apr. 30, 2013 | Dec. 31, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Oct. 31, 2012 | Apr. 30, 2014 | Feb. 28, 2013 | Dec. 30, 2012 | Jun. 30, 2012 | Jul. 31, 2014 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2013 | Feb. 28, 2014 | Feb. 29, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Feb. 28, 2014 | Feb. 29, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Feb. 29, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | 31-May-12 | Sep. 30, 2012 | 31-May-12 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Aug. 31, 2012 | Jul. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Jul. 31, 2014 | Apr. 30, 2014 | Sep. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 30, 2013 | Sep. 30, 2012 | Feb. 29, 2012 | Mar. 31, 2013 | Aug. 31, 2012 | Feb. 29, 2012 | Apr. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Apr. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Feb. 29, 2012 | Apr. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | |||||||||
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Units [Member] | Units [Member] | Units [Member] | Subsequent Event [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Convertible Promissory Note Dated February 25, 2012 [Member] | Convertible Promissory Note Dated February 25, 2012 [Member] | Convertible Promissory Note Dated February 25, 2012 [Member] | Convertible Promissory Note Dated February 25, 2012 [Member] | Convertible Promissory Note Dated February 27, 2012 [Member] | Convertible Promissory Note Dated February 27, 2012 [Member] | Convertible Promissory Note Dated February 27, 2012 [Member] | Convertible Promissory Note Dated February 27, 2012 [Member] | Convertible Promissory Note Dated February 29, 2012 [Member] | Convertible Promissory Note Dated February 29, 2012 [Member] | Convertible Promissory Note Dated February 29, 2012 [Member] | Convertible Note Payable Dated May 1, 2012 [Member] | Convertible Note Payable Dated May 1, 2012 [Member] | Convertible Note Payable Dated May 1, 2012 [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | |||||||||||||||||||
Maximum [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Maximum [Member] | Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Units [Member] | Units [Member] | Units [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.25% | 0.19% | ' | ' | 3.25% | 0.19% | ' | ' | 0.19% | ' | ' | 0.19% | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | 0.19% | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Term of debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | '2 years | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '18 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt conversion, price per share | ' | ' | ' | $0.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.19 | $1 | ' | ' | $0.19 | $1 | ' | ' | $1 | ' | ' | $0.35 | ' | $1 | ' | ' | ' | $0.35 | ' | ' | ' | ' | $1 | ' | ' | $0.33 | ' | ' | ' | ' | ' | $0.33 | ' | ' | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28-Feb-14 | ' | ' | 1-Dec-14 | 28-Feb-14 | ' | ' | 28-Feb-14 | ' | ' | 30-Sep-12 | ' | ' | 5-Apr-15 | 31-Aug-14 | 31-Aug-13 | ' | 1-Jan-16 | 5-Apr-15 | 31-Aug-14 | 31-Aug-13 | 31-Mar-13 | 1-Jan-16 | ' | ' | ' | ' | ' | ' | ' | 30-Sep-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Convertible notes payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | [1],[2] | $300,000 | [1],[2] | $300,000 | [1],[2] | $300,000 | [1],[2] | $75,000 | ' | $75,000 | [3] | $100,000 | [3] | ' | ' | $50,000 | [4] | $50,000 | [4] | ' | $50,000 | $50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face value of loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | 50,000 | ' | ' | 50,000 | ' | ' | 49,825 | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | 300,000 | ' | ' | 2,240,000 | ' | ' | ' | ' | ' | 1,706,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Repayment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Future repayment of debt, August 1, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Future repayment of debt, December 1, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Percentage of the note balance due on November 1, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Percentage of the note balance due on January 1, 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Percentage of the note balance due on April 1, 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from convertible debentures | ' | ' | ' | ' | ' | ' | 1,059,000 | 1,639,298 | 1,706,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Fees Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117,846 | ' | ' | ' | 207,500 | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 266,473 | ||||||||
Legal Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,356 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Shares issued from conversion of convertible debt | ' | ' | ' | 142,357 | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 142,357 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,736,842 | ' | ' | ' | ' | ' | 5,130,795 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issuance of common shares and warrants for services, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,347,368 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Warrant value recorded as debt discount | ' | ' | ' | ' | ' | ' | ' | 389,565 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 389,565 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Warrant value recorded as debt issue cost | ' | ' | ' | ' | ' | ' | ' | 94,316 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94,316 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Potential funds raised through two successive best-efforts private placement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Additional funds to cover over-allotments at the option of Laidlaw | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issuance of common shares and warrants for cash, net of offering costs | 8,750 | 519,370 | 530,337 | ' | ' | 1,041,540 | ' | ' | 3,025,236 | ' | ' | ' | 3,329 | 9,920 | ' | ' | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | 522,170 | 2,494,899 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,289,527 | ||||||||
Issuance of common shares and warrants for cash, net of offering costs, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,614,286 | 2,042,856 | 3,329,503 | 9,920,000 | 807,143 | 1,021,432 | ' | ' | 16.14 | 20.43 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 263,158 | 263,158 | ' | ' | ' | ' | ' | ' | ' | ' | 1,715,217 | 7,877,144 | ' | 857,609 | ' | 3,938,570 | 389,000 | ' | 17.15 | 78.77 | 31.12 | ||||||||
Expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | '5 years | '5 years | ' | '5 years | ' | ' | ' | ||||||||
Percent of convertible note amount called by warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt issuance costs | ' | ' | ' | ' | ' | ' | 112,020 | 48,240 | 266,473 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Exercise price of Unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.35 | ' | ||||||||
Exercise price of warrants | $0.50 | ' | ' | $0.33 | ' | $0.50 | ' | $0.50 | ' | $1 | ' | ' | ' | ' | $0.50 | $0.35 | $0.50 | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.33 | $0.50 | $0.33 | ' | ' | $1 | ' | ' | ' | ' | $0.50 | ' | $0.50 | ' | ' | ' | ' | ' | ||||||||
Percent of funds raised paid as cash fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Percent of common stock reserved for issuance called by warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Amount of note converted | ' | ' | ' | 49,825 | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,825 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,706,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Original warrants held | ' | ' | ' | 456,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 426,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issuance of common shares and warrants to settle accrued interest, shares | ' | ' | ' | 112 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 202,446 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 202,334 | ' | ' | ' | 50,591 | ' | ' | ' | ' | ' | ||||||||
Accrued interest settled | ' | ' | ' | 39 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67,276 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Loss on settlement of accrued interest | ' | ' | ' | ' | ' | ' | 3,339 | ' | 3,339 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,339 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issuance of convertible notes in exchange for services rendered | ' | ' | ' | ' | ' | ' | 38,175 | ' | 38,175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Original issue discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 240,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Convertible notes payable outstanding | 800,000 | ' | ' | ' | ' | 800,000 | ' | 3,562,229 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,030,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Convertible notes payable, current portion | 200,000 | ' | ' | ' | ' | 200,000 | ' | 175,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Convertible notes payable, long-term liabilities | 600,000 | ' | ' | ' | ' | 600,000 | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt payable, current liabilities | ' | ' | ' | ' | ' | ' | ' | $1,962,229 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Number of shares per unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ||||||||
[1] | Effective September 4, 2012, note amended to provide a maturity date of August 31, 2013. Effective December 17, 2012, note further amended to provide a maturity date of August 31, 2014. On September 25, 2013, maturity date had been extended to April 5, 2015. On July 16, 2014, the maturity date had been extended to January 1, 2016. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Effective July 16, 2014 the note was amended to provide a maturity date of January 1, 2016. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Effective February 28, 2014 the note was amended to provide a maturity date of December 1, 2014 and interest rate of 3.25%. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Effective February 18, 2014 the note was amended to provide a maturity date of December 1, 2014 and interest rate of 3.25%. |
Notes_Payable_Schedule_of_Note
Notes Payable (Schedule of Notes Payable) (Details) (USD $) | Apr. 30, 2014 | Feb. 28, 2014 | Apr. 30, 2013 | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Loan payable officer - related party | $1,000,000 | ' | ' | ||
Debenture payable | 1,787,229 | ' | ' | ||
Total | 3,562,229 | ' | 800,000 | ||
Less: Current maturities (notes payable) | -175,000 | ' | -200,000 | ||
Subtotal | 1,600,000 | ' | 600,000 | ||
Less: amount due after one year for notes payable | ' | ' | ' | ||
Amount due after one year for convertible notes payable | 1,600,000 | ' | 600,000 | ||
Note Payable - Related Party Dated August 14, 2012 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Convertible notes payable | 300,000 | [1],[2] | ' | 300,000 | [1],[2] |
Note Payable - Related Party Dated March 13, 2012 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Convertible notes payable | 300,000 | [1],[2] | ' | 300,000 | [1],[2] |
Convertible Promissory Note Dated February 25, 2012 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Convertible notes payable | 75,000 | [3] | 75,000 | 100,000 | [3] |
Convertible Promissory Note Dated February 27, 2012 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Convertible notes payable | 50,000 | [4] | ' | 50,000 | [4] |
Convertible Promissory Note Dated February 29, 2012 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Convertible notes payable | 50,000 | ' | 50,000 | ||
Loan Payable Officer - Related Party Dated June 28, 2013 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Loan payable officer - related party | 1,000,000 | [2] | ' | ' | |
Debentures Payable, Net of OID [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Debenture payable | $1,787,229 | ' | ' | ||
[1] | Effective September 4, 2012, note amended to provide a maturity date of August 31, 2013. Effective December 17, 2012, note further amended to provide a maturity date of August 31, 2014. On September 25, 2013, maturity date had been extended to April 5, 2015. On July 16, 2014, the maturity date had been extended to January 1, 2016. | ||||
[2] | Effective July 16, 2014 the note was amended to provide a maturity date of January 1, 2016. | ||||
[3] | Effective February 28, 2014 the note was amended to provide a maturity date of December 1, 2014 and interest rate of 3.25%. | ||||
[4] | Effective February 18, 2014 the note was amended to provide a maturity date of December 1, 2014 and interest rate of 3.25%. |
Notes_Payable_Schedule_of_Futu
Notes Payable (Schedule of Future Maturities of Notes Payable) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Notes Payable [Abstract] | ' | ' |
2015 | ' | ' |
2016 | 1,600,000 | ' |
Total | $1,600,000 | $600,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Nov. 30, 2013 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Dec. 31, 2012 | Feb. 28, 2013 | Sep. 30, 2012 | Aug. 31, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Oct. 31, 2012 | Apr. 30, 2014 | Jun. 30, 2013 | Oct. 31, 2012 | Oct. 31, 2012 | Jul. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2014 | Jan. 31, 2009 | Sep. 30, 2008 | Feb. 28, 2013 | Oct. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Jan. 31, 2014 | |
Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Firm One [Member] | Firm One [Member] | Firm One [Member] | Firm Two [Member] | Firm Two [Member] | Firm Two [Member] | Firm Two [Member] | New York, New York [Member] | Dieppe, NB, Canada [Member] | Denver, Colorado [Member] | Denver, Colorado [Member] | Scottsdale, Arizona [Member] | Scottsdale, Arizona [Member] | Line of Credit [Member] | Line of Credit [Member] | Letter of Credit [Member] | ||||||||||
Common Stock [Member] | Common Stock [Member] | Warrant [Member] | |||||||||||||||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $250,000 | ' | ' |
LIBOR spread | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' |
Line of credit, interest rate at period end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | ' | ' |
Payment period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' |
Line of credit, outstanding | ' | 250,000 | ' | 244,175 | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 244,175 | 250,000 | 1,696,445 |
Line of credit, remaining available | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,825 | ' | 848,225 |
Operating Leased Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly rent payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,816 | 1,675 | 6,526 | ' | ' | ' | ' | ' | ' |
Lease term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | '3 years | ' | ' | ' |
Monthly rent annual escalation rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' |
Monthly rent payments for months four through twelve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,491 | ' | ' | ' | ' |
Monthly rent payments for second year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,601 | ' | ' | ' | ' |
Monthly rent payments for third year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,710 | ' | ' | ' | ' |
Rent expense | ' | 64,724 | 44,828 | 210,977 | ' | 140,783 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual performance bonus, minimum | ' | 50.00% | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual performance bonus, maximum | ' | 100.00% | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued bonuses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consulting Agreement Investor Relations Firm [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Periodic payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Frequency of periodic payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Annually | ' | ' | 'Monthly | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | '6 months | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares for services | ' | ' | ' | 216,000 | ' | 70,000 | ' | ' | ' | 617 | 200 | ' | ' | ' | ' | 111,000 | ' | 70,000 | 105,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares for services, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 617,143 | 200,000 | ' | ' | ' | ' | 317,143 | ' | 200,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for services | ' | ' | ' | ' | ' | 43,000 | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | 43,000 | ' | 8,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for services, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of warrants | ' | $0.50 | ' | $0.50 | $0.50 | ' | ' | $0.33 | $1 | ' | ' | $0.50 | $0.35 | $0.50 | $0.33 | ' | ' | ' | ' | ' | ' | $0.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Possible estimated loss due to unauthorized borrowing | ' | ' | ' | ' | ' | ' | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Title IV Funds received as a percentage of revenue | ' | ' | ' | ' | 26.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remittance of Title IV funds to the Department of Education due to students ineligibility to receive the funds | $102,810 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Future Minimum Rental Payments) (Details) (USD $) | Apr. 30, 2014 |
Commitments and Contingencies [Abstract] | ' |
2015 | $144,332 |
2016 | 72,427 |
2017 | ' |
Total minimum payments required | $216,759 |
Temporary_Equity_Details
Temporary Equity (Details) (USD $) | 4 Months Ended | 12 Months Ended | |||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Mar. 13, 2012 | |
Temporary Equity [Abstract] | ' | ' | ' | ' | ' |
Dividends Payable | ' | ' | ' | ' | $124,705 |
Cumulative preferred stock dividends | ' | $37,379 | ' | $37,379 | ' |
Stockholders_Equity_Deficiency2
Stockholders' Equity (Deficiency) (Stock Narrative) (Details) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Apr. 30, 2013 | Mar. 31, 2013 | Feb. 28, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Apr. 30, 2012 | Mar. 31, 2012 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Aug. 31, 2012 | Oct. 31, 2012 | Jun. 30, 2013 | Oct. 31, 2012 | Jul. 31, 2013 | Oct. 31, 2012 | Dec. 30, 2012 | Jun. 30, 2013 | Dec. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Apr. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Aug. 31, 2012 | Apr. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2012 | Oct. 31, 2012 | Mar. 31, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Feb. 28, 2013 | Dec. 30, 2012 | Jun. 30, 2012 | Apr. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Feb. 29, 2012 | Apr. 30, 2013 | Apr. 30, 2014 | Dec. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Apr. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2014 | Sep. 30, 2012 | Mar. 31, 2014 | Apr. 30, 2014 | Feb. 29, 2012 | Feb. 29, 2012 | Dec. 31, 2012 | Feb. 29, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Feb. 29, 2012 | Sep. 30, 2012 | Feb. 29, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Oct. 31, 2012 | Apr. 30, 2014 | Oct. 31, 2012 | Oct. 31, 2012 | Sep. 30, 2013 | Apr. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Feb. 29, 2012 | Apr. 30, 2014 | Mar. 31, 2014 | Apr. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2013 | Apr. 30, 2014 | Dec. 31, 2012 | |
Global Arena Capital Corp. ("GAC") [Member] | Firm One [Member] | Firm One [Member] | Firm Two [Member] | Firm Two [Member] | Equity Issuance Transaction One [Member] | Equity Issuance Transaction One [Member] | Equity Issuance Transaction Two [Member] | Equity Issuance Transaction Two [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Director [Member] | Director [Member] | Former Chairman [Member] | Former Chairman [Member] | Board of Directors [Member] | Board of Directors [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Units [Member] | Units [Member] | Units [Member] | Units [Member] | Units [Member] | Units [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series E Preferred Stock [Member] | Series E Preferred Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member] | |||||||||||||
Firm One [Member] | Firm One [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Firm One [Member] | Firm Two [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Director [Member] | Director [Member] | Board of Directors [Member] | Institutional Investor [Member] | Global Arena Capital Corp. ("GAC") [Member] | Firm Two [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Director [Member] | Board of Directors [Member] | Institutional Investor [Member] | Institutional Investor [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock split, conversion ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | 0.8473809 | ' | ' | 1 | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of all preferred shares into common shares, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,677,274 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -368,411 | ' | -11,307,450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recapitalization, shares | ' | ' | ' | ' | ' | ' | 9,760,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,760,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of notes payable, shares | ' | ' | ' | ' | 142,357 | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,130,795 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,736,842 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of note converted | ' | ' | ' | ' | $49,825 | $20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,706,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion, price per share | ' | ' | ' | ' | $0.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs | 8,750 | ' | 519,370 | 530,337 | ' | ' | ' | 1,041,540 | ' | ' | 3,025,236 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 522,170 | 2,494,899 | ' | ' | 100,000 | ' | ' | ' | 6,000 | ' | 50,000 | ' | ' | ' | ' | 150,000 | ' | ' | 1,289,527 | ' | ' | ' | ' | 3,329 | ' | 9,920 | ' | ' | ' | ' | ' | 212,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,038,211 | ' | 3,015,316 |
Offering costs | ' | ' | 45,630 | 184,663 | ' | ' | ' | 123,788 | ' | ' | 446,764 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 78,158 | 262,101 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.14 | 20.43 | 3 | 17.15 | 78.77 | 31.12 | 1,614,286 | 2,042,856 | ' | ' | 3,329,503 | ' | 9,920,000 | ' | ' | 1,715,217 | 7,877,144 | 526,318 | 605,716 | 3,157,895 | 263,158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 807,143 | 1,021,432 | ' | ' | ' | ' | ' | 857,609 | ' | 3,938,570 | 389,000 | ' | 526,318 | 3,157,895 | 263,158 | ' | ' | ' | ' | ' |
Option expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | '5 years | ' | '5 years | '5 years | '5 years | '5 years | '5 years | '5 years | ' | '5 years | ' | ' | ' | '5 years | ' | ' | ' | ' |
Shares of common stock able to be purchased by warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | 98,000 | ' | ' | 169,021 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of warrants | $0.50 | ' | ' | ' | $0.33 | ' | ' | $0.50 | ' | $0.50 | ' | $1 | ' | ' | ' | ' | ' | $0.35 | ' | $0.50 | ' | $0.33 | $0.50 | $0.33 | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | $0.35 | $0.50 | $0.33 | ' | $0.60 | ' | $0.50 | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants to settle accrued interest, shares | ' | ' | ' | ' | 112 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 202,446 | ' | ' | ' | 202,334 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,591 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest settled | ' | ' | ' | ' | 39 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67,276 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on settlement of accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | 3,339 | ' | 3,339 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,339 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for price protection, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,516,917 | ' | ' | 3,270,678 | 4,516,917 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,178,947 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares purchased for price protection | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 915,429 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.35 | ' | $0.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.19 | ' | ' | ' | $0.19 | ' | ' | $0.19 | ' | ' | ' | ' | ' | ' | ' | ' | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for price protection | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,517 | ' | ' | 3,271 | 4,517 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,517 | ' | -3,271 | -4,517 |
Shares that have price protection | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 550,000 | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price protection expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13-Mar-15 | ' | 13-Mar-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased and retired, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 264,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased and retired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 132,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock, acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to acquire treasury shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 202,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Periodic payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Frequency of periodic payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Annually | ' | 'Monthly | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '6 months | '1 year | ' | '12 months | ' | '3 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares for services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 216,000 | 70,000 | ' | ' | 111,000 | ' | 105,000 | ' | ' | 90,000 | ' | 21,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 617 | 200 | 70,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215,383 | 69,800 |
Issuance of common shares for services, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 317,143 | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 617,143 | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,000 | ' | ' | ' | ' | ' | 43,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,900 |
Issuance of common shares and warrants for services, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,347,368 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount a third party agreed to use its best efforts to sell up to from the sale of Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,030,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 770,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of gross proceeds sold by the third party they would receive as compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Units being sold by the third party they would receive warrants to purchase as compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of Unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of proceeds of Units sold by third party they would recieve as non-accountable expense allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase of the remainder of the offering | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Professional fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59,158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares and warrants issued for services rendered | ' | ' | ' | ' | ' | ' | ' | ' | ' | 285,084 | 113,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 169,021 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercised, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,006,064 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | $804,049 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7,006 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $797,043 | ' |
Stockholders_Equity_Deficiency3
Stockholders' Equity (Deficiency) (Recapitalization) (Details) (USD $) | 1 Months Ended | |||
Mar. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Mar. 13, 2012 | |
Stockholders' Equity (Deficiency) [Abstract] | ' | ' | ' | ' |
Shares issued for business acquisition | 25,515,204 | ' | ' | ' |
Recapitalization, shares | 9,760,000 | ' | ' | ' |
Common stock, shares authorized | ' | 120,000,000 | 120,000,000 | ' |
Common stock, par value | ' | $0.00 | $0.00 | ' |
Preferred stock, shares authorized | ' | 10,000,000 | ' | ' |
Preferred stock, par value | ' | $0.00 | ' | ' |
Cash and cash equivalents | ' | ' | ' | $337 |
Liabilities assumed | ' | ' | ' | -21,206 |
Net | ' | ' | ' | ($20,869) |
Stockholders_Equity_Deficiency4
Stockholders' Equity (Deficiency) (Stock Warrants Narrative) (Details) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||||||
Jul. 31, 2013 | Apr. 30, 2013 | Feb. 28, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Apr. 30, 2012 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Aug. 31, 2012 | Apr. 30, 2014 | Sep. 30, 2013 | Apr. 30, 2013 | Sep. 30, 2012 | Aug. 31, 2012 | Mar. 31, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Apr. 30, 2014 | Mar. 31, 2014 | Oct. 31, 2012 | Jul. 31, 2013 | Feb. 28, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Apr. 30, 2013 | Apr. 30, 2014 | Dec. 31, 2012 | Apr. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Sep. 30, 2012 | Oct. 31, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Dec. 31, 2012 | Oct. 31, 2012 | Apr. 30, 2014 | Sep. 30, 2013 | Apr. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Feb. 29, 2012 | Mar. 31, 2014 | Apr. 30, 2014 | Sep. 30, 2013 | Apr. 30, 2014 | Oct. 31, 2012 | |
Warrant [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Board of Directors [Member] | Board of Directors [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Director [Member] | Director [Member] | Firm Two [Member] | Firm Two [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | ||||||||||||
Laidlaw and Co [Member] | Laidlaw and Co [Member] | Board of Directors [Member] | Institutional Investor [Member] | Director [Member] | Director [Member] | Firm Two [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Board of Directors [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Director [Member] | Firm Two [Member] | |||||||||||||||||||||||||||||||||||||
Stockholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares purchased for price protection | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 915,429 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.19 | ' | ' | $0.19 | ' | $0.19 | ' | $0.35 | ' | ' | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original warrants held | ' | ' | ' | ' | 456,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 426,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of warrants | ' | $0.50 | ' | ' | $0.33 | ' | $0.50 | ' | $0.50 | ' | $1 | ' | $0.33 | $0.50 | $0.33 | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | $0.35 | ' | $0.50 | $0.33 | ' | $0.50 | ' | $0.50 | ' | ' | ' | ' | ' | ' | $0.60 |
Issuance of common shares and warrants for services, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,347,368 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 |
Option expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | '5 years | ' | '5 years | '5 years | '5 years | '5 years | ' | '5 years | ' | ' | '5 years | ' | '5 years |
Issuance of common shares and warrants for services | ' | ' | ' | ' | ' | ' | ' | ' | ' | $43,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $43,000 | ' | ' | ' | ' | ' | ' | $100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8,000 |
Exercisable warrants issued | ' | ' | ' | ' | ' | ' | 1,833,770 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable warrants issued, fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | ' | ' | ' | ' | ' | ' | 154,062 | 81,605 | 608,429 | 347,657 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,500 | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued to a placement agent as a fee related to prior investments | 1,115,026 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant value recorded as debt discount | ' | ' | ' | ' | ' | ' | ' | ' | 389,565 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 389,565 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of notes payable, shares | ' | ' | ' | ' | 142,357 | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | 5,130,795 | ' | ' | ' | ' | 6,736,842 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fees Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 207,500 | ' | 25,000 | ' | ' | ' | ' | 117,846 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant value recorded as debt issue cost | ' | ' | ' | ' | ' | ' | ' | ' | 94,316 | ' | ' | ' | 94,316 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Professional fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59,158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,231,840 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant exercise offering exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercised | ' | ' | ' | ' | ' | ' | ' | ' | 804,049 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,006 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant modification expense | ' | ' | ' | ' | ' | ' | ' | ' | 156,952 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for price protection, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,516,917 | ' | 3,270,678 | 4,516,917 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,178,947 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs | ' | $8,750 | $519,370 | $530,337 | ' | ' | $1,041,540 | ' | ' | $3,025,236 | ' | ' | ' | $522,170 | $2,494,899 | ' | $6,000 | ' | $50,000 | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | $3,329 | ' | $9,920 | ' | ' | ' | ' | ' | $212,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,614,286 | 2,042,856 | ' | 3,329,503 | ' | 9,920,000 | 1,715,217 | 7,877,144 | 3,157,895 | 263,158 | 526,318 | 605,716 | ' | 807,143 | 1,021,432 | ' | ' | ' | ' | 857,609 | ' | 3,938,570 | 389,000 | ' | 3,157,895 | 263,158 | ' | 526,318 | ' |
Stockholders_Equity_Deficiency5
Stockholders' Equity (Deficiency) (Schedule of Warrants) (Details) (Warrant [Member], USD $) | 12 Months Ended |
Apr. 30, 2014 | |
Warrant [Member] | ' |
Number of Shares | ' |
Balance Outstanding, April 30, 2013 | 9,090,292 |
Granted | 18,325,553 |
Exercised | -4,231,840 |
Forfeited | -40,000 |
Expired | ' |
Balance Outstanding, April 30, 2014 | 23,144,005 |
Exercisable, April 30, 2014 | 18,249,528 |
Weighted Average Exercise Price | ' |
Balance Outstanding, April 30, 2013 | $0.46 |
Granted | $0.26 |
Exercised | $0.19 |
Forfeited | $0.50 |
Expired | ' |
Balance Outstanding, April 30, 2014 | $0.31 |
Exercisable, April 30, 2014 | $0.31 |
Average Remaining Contractual Term | ' |
Balance Outstanding, April 30, 2014 | '4 years 7 months 6 days |
Exercisable, April 30, 2014 | '4 years 7 months 6 days |
Aggregate Intrinsic Value | ' |
Balance Outstanding, April 30, 2014 | ' |
Exercisable, April 30, 2014 | ' |
Stockholders_Equity_Deficiency6
Stockholders' Equity (Deficiency) (Stock Options Narrative) (Details) (USD $) | 4 Months Ended | 12 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||||||||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Dec. 17, 2012 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2014 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Oct. 31, 2012 | Apr. 30, 2013 | Apr. 30, 2014 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Nov. 30, 2012 | Jul. 02, 2014 | 14-May-13 | Jan. 16, 2013 | Sep. 28, 2012 | Mar. 13, 2012 | |
Employee [Member] | Employee [Member] | Employee [Member] | Employee [Member] | Employee [Member] | Employee [Member] | Non-employee [Member] | Non-employee [Member] | Non-employee [Member] | Consultant [Member] | Consultant [Member] | Faculty [Member] | Faculty [Member] | Issuance One October 2012 [Member] | Issuance Two October 2012 [Member] | Michael Mathews [Member] | Michael Mathews [Member] | Brad Powers [Member] | Brad Powers [Member] | David Garrity [Member] | David Garrity [Member] | Dr. Gerald Williams [Member] | Director [Member] | 2012 Equity Incentive Plan [Member] | 2012 Equity Incentive Plan [Member] | 2012 Equity Incentive Plan [Member] | 2012 Equity Incentive Plan [Member] | 2012 Equity Incentive Plan [Member] | ||||||
Minimum [Member] | Maximum [Member] | Issuance One October 2012 [Member] | Issuance Two October 2012 [Member] | Issuance One October 2012 [Member] | Issuance Two October 2012 [Member] | Issuance One October 2012 [Member] | Issuance Two October 2012 [Member] | Issuance Two October 2012 [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Incentive Plan, shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,300,000 | 9,300,000 | 8,000,000 | 5,600,000 | 2,500,000 |
Stock options issued during period | ' | ' | ' | ' | ' | 658,914 | ' | 3,778,711 | 6,777,967 | ' | ' | ' | 175,000 | ' | ' | 20,000 | 75,000 | ' | 680,692 | 547,618 | 288,911 | 166,666 | 255,773 | 166,666 | 136,008 | 166,666 | 47,620 | 62,857 | ' | ' | ' | ' | ' |
Issuance of stock options to officers to settle accrued payroll | ' | ' | ' | $238,562 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted, exercise price | ' | ' | ' | ' | ' | $0.35 | ' | ' | $0.35 | $0.17 | $0.35 | ' | $1 | ' | ' | $0.50 | ' | ' | ' | ' | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | ' | ' | ' | ' | ' |
Vested options | ' | ' | ' | ' | ' | ' | ' | ' | 910,214 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option expiration period | ' | ' | ' | ' | ' | '5 years | ' | '5 years | '5 years | ' | ' | ' | '5 years | ' | ' | '3 years | ' | ' | ' | ' | '5 years | '5 years | '5 years | '5 years | '5 years | '5 years | '5 years | ' | ' | ' | ' | ' | ' |
Fair value of stock options granted | ' | ' | ' | ' | ' | 79,070 | ' | 332,545 | 1,747,007 | ' | ' | ' | 57,750 | 95,600 | ' | 2,000 | 9,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of debt forgiven from related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,000 | ' | ' | ' | ' | ' |
Number of stock options repriced from $1.00 to $0.35 | ' | ' | ' | ' | 1,705,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant-date fair value of stock options granted | ' | ' | $0.06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost | ' | ' | 767,237 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average recognition period | ' | ' | '1 year 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share based compensation expense | ' | ' | ' | ' | ' | 153,818 | 81,605 | ' | 252,057 | ' | ' | ' | ' | 95,600 | ' | ' | 244 | 2,968 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award Modification, Incremental Compensation Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15,750 | ' | ' | $600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Deficiency7
Stockholders' Equity (Deficiency) (Schedule of Assumptions Used to Value Stock Options) (Details) (Stock Incentive Plan and Stock Option Grants to Employees and Directors [Member]) | 4 Months Ended | 12 Months Ended | |
Apr. 30, 2013 | Apr. 30, 2014 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life (years) | ' | '3 years 3 months 18 days | ' |
Expected volatility | ' | 45.00% | ' |
Expected volatility, minimum | 46.30% | ' | 44.20% |
Expected volatility, maximum | 46.50% | ' | 50.90% |
Weighted-average volatility | 46.50% | 45.00% | 49.00% |
Risk-free interest rate | ' | 0.38% | ' |
Risk-free interest rate, minimum | 0.36% | ' | 0.31% |
Risk-free interest rate, maximum | 0.44% | ' | 0.60% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Expected forfeiture rate | 3.90% | ' | 1.70% |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life (years) | '3 years 6 months | ' | '2 years 6 months |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life (years) | '3 years 9 months | ' | '3 years 9 months 18 days |
Stockholders_Equity_Deficiency8
Stockholders' Equity (Deficiency) (Schedule of Stock Options Activity) (Details) (USD $) | 12 Months Ended |
Apr. 30, 2014 | |
Stock Incentive Plan and Stock Option Grants to Employees and Directors [Member] | ' |
Number of Shares | ' |
Balance Outstanding, April 30, 2013 | 7,344,381 |
Granted | 3,778,711 |
Exercised | ' |
Forfeited | -646,680 |
Expired | ' |
Balance Outstanding, April 30, 2014 | 10,476,412 |
Exercisable, April 30, 2014 | 2,050,332 |
Weighted Average Exercise Price | ' |
Balance Outstanding, April 30, 2013 | $0.35 |
Weighted average exercise price of options granted | $0.25 |
Exercised | ' |
Forfeited | $0.35 |
Expired | ' |
Balance Outstanding, April 30, 2014 | $0.35 |
Exercisable, April 30, 2014 | $0.35 |
Weighted Average Remaining Contractual Term | ' |
Balance Outstanding, April 30, 2014 | '4 years |
Exercisable, April 30, 2014 | '3 years 9 months 18 days |
Aggregate Intrinsic Value | ' |
Balance Outstanding, April 30, 2014 | ' |
Exercisable, April 30, 2014 | ' |
Stock Option Grants to Non-Employees [Member] | ' |
Number of Shares | ' |
Balance Outstanding, April 30, 2013 | 270,000 |
Granted | ' |
Exercised | ' |
Forfeited | ' |
Expired | ' |
Balance Outstanding, April 30, 2014 | 270,000 |
Exercisable, April 30, 2014 | ' |
Weighted Average Exercise Price | ' |
Balance Outstanding, April 30, 2013 | $0.35 |
Weighted average exercise price of options granted | ' |
Exercised | ' |
Forfeited | ' |
Expired | ' |
Balance Outstanding, April 30, 2014 | $0.35 |
Weighted Average Remaining Contractual Term | ' |
Balance Outstanding, April 30, 2014 | '4 years |
Aggregate Intrinsic Value | ' |
Balance Outstanding, April 30, 2014 | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | |
Income Taxes [Abstract] | ' | ' |
Net change in the valuation allowance | $1,979,374 | $518,331 |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards | $16,248,831 | ' |
Minimum [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards, expiration | 1-Jan-29 | ' |
Years under examination | '2010 | ' |
Maximum [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards, expiration | 31-Dec-34 | ' |
Years under examination | '2013 | ' |
Income_Taxes_Schedule_of_Incom
Income Taxes (Schedule of Income Tax Expense (Benefit)) (Details) (USD $) | 4 Months Ended | 12 Months Ended | ||
Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | |
Current: | ' | ' | ' | ' |
Federal | ' | ' | ' | ' |
State | ' | ' | ' | ' |
Total Current Income tax expense (benefit) | ' | ' | ' | ' |
Deferred: | ' | ' | ' | ' |
Federal | ' | ' | ' | ' |
State | ' | ' | ' | ' |
Total Deferred Income tax expense (benefit) | ' | ' | ' | ' |
Total Income tax expense (benefit) | ' | ' | ' | ' |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Defered Income Tax Assets and Liabilities) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Deferred tax assets: | ' | ' | ' |
Net operating loss | $6,021,134 | $4,256,530 | ' |
Allowance for doubtful accounts | 55,679 | 23,948 | ' |
Intangible assets | 294,284 | 238,259 | ' |
Deferred rent | 7,948 | 11,809 | ' |
Stock-based compensation | 411,374 | 185,916 | ' |
Contributions carryforward | 93 | 93 | ' |
Total deferred tax assets | 6,790,512 | 4,716,555 | ' |
Deferred tax liabilities: | ' | ' | ' |
Property and equipment | -126,297 | -31,714 | ' |
Total deferred tax liabilities | -126,297 | -31,714 | ' |
Deferred tax assets, net | 6,664,215 | 4,684,841 | ' |
Valuation allowance: | ' | ' | ' |
Valuation allowance | -6,664,215 | -4,684,841 | -4,166,510 |
Net deferred tax asset | ' | ' | ' |
Presentation in the financial statements: | ' | ' | ' |
Deferred taxes, current portion | ' | ' | ' |
Deferred taxes, net of current portion | ' | ' | ' |
Net deferred tax asset | ' | ' | ' |
Income_Taxes_Deferred_Tax_Asse
Income Taxes (Deferred Tax Asset Valuation Allowance Rollforward) (Details) (USD $) | 12 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | |
Income Taxes [Abstract] | ' | ' |
Valuation allowance, beginning of year | ($4,684,841) | ($4,166,510) |
(Increase) during period | -1,979,374 | -518,331 |
Valuation allowance, ending balance | ($6,664,215) | ($4,684,841) |
Income_Taxes_Schedule_of_Incom1
Income Taxes (Schedule of Income Tax Reconciliation) (Details) | 12 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | |
Income Taxes [Abstract] | ' | ' |
Statutory U.S. federal income tax rate | 34.00% | 34.00% |
State income taxes, net of federal tax benefit | 3.10% | 3.10% |
Other | -0.10% | -0.10% |
Change in valuation allowance | -37.00% | -37.00% |
Effective income tax rate | 0.00% | 0.00% |
Concentrations_Details
Concentrations (Details) (USD $) | Apr. 30, 2014 |
Concentrations [Abstract] | ' |
Amount of cash balance uninsured by FDIC | $592,000 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
Apr. 30, 2013 | Feb. 28, 2013 | Dec. 30, 2012 | Mar. 31, 2012 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | Dec. 31, 2012 | Sep. 30, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Apr. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Jun. 30, 2012 | Mar. 08, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Jul. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Aug. 31, 2012 | Jul. 31, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Jul. 31, 2014 | Dec. 31, 2008 | Mar. 31, 2008 | Mar. 13, 2012 | Sep. 16, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 14, 2011 | Mar. 13, 2012 | Apr. 30, 2014 | Nov. 30, 2012 | Mar. 31, 2014 | Apr. 30, 2014 | Sep. 30, 2012 | Apr. 30, 2014 | Mar. 31, 2014 | Apr. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Apr. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Feb. 29, 2012 | Apr. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Apr. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Units [Member] | Units [Member] | Units [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | CEO [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Officer [Member] | Officer [Member] | Officer [Member] | Officer [Member] | Third Party [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | Board Of Directors [Member] | Board Of Directors [Member] | Board Of Directors [Member] | Board Of Directors [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | Laidlaw and Co [Member] | ||||||||||
Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated March 13, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Note Payable - Related Party Dated August 14, 2012 [Member] | Loan Payable Officer - Related Party Dated June 28, 2013 [Member] | Loan Payable Officer - Related Party Dated June 28, 2013 [Member] | Loan Payable Officer - Related Party Dated June 28, 2013 [Member] | Notes Receivable [Member] | Notes Receivable [Member] | Notes Receivable [Member] | Notes Receivable [Member] | Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Common Stock [Member] | Warrant [Member] | Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Units [Member] | Units [Member] | Units [Member] | |||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Courseware sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $600,000 | $455,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series C Preferred Shares pledged by HEMG | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 772,793 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series C Preferred Shares pledeged by HEMG, converted to common shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 654,850 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares pledged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117,943 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.33 | ' | ' | ' | ' | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | ' | ' | $0.19 | ' | ' | ' | ' | $0.19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable, secured - related party, net of allowance | 270,478 | ' | ' | ' | 270,478 | ' | 146,831 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts | 502,315 | ' | ' | ' | 502,315 | ' | 625,963 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Third party investors purchased, shares | ' | ' | ' | ' | ' | ' | ' | ' | 336,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase value of shares | ' | ' | ' | ' | ' | ' | ' | ' | 168,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company purchased, shares | ' | ' | ' | ' | ' | ' | ' | ' | 264,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company purchased shares, value | ' | ' | ' | ' | ' | ' | ' | ' | 132,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares guaranteed to be purchased by the Company | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares the Company guaranteed it would use its best efforts to purchase from HEMG and resell to investors | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Company shall consent to additional private transfers | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares HEMG agreed to not sell, pledge or otherwise transfer | ' | ' | ' | 142,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dispute regarding the Company's claim that HEMG sold 131,500 common shares of the Company without having enough authorized shares | ' | ' | ' | 131,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares a stockholder did not receive | ' | ' | ' | 11,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivable Collateral Valuation Reserve | ' | ' | ' | ' | ' | ' | 123,647 | 502,315 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | 300,000 | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,706,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.19% | ' | ' | ' | ' | 5.00% | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5-Apr-15 | 31-Aug-14 | 31-Aug-13 | 31-Mar-13 | 1-Jan-16 | 5-Apr-15 | 31-Aug-14 | 31-Aug-13 | ' | 1-Jan-16 | 2-Apr-15 | ' | 1-Jan-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Sep-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion, price per share | ' | ' | ' | ' | ' | ' | ' | ' | $0.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | ' | ' | ' | ' | $0.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options issued during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,857 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of debt forgiven from related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted, exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note receivable, face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note receivable, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total number of common stock shares used as collateral to secure notes receivable from related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term promissory note from related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | 330 | 672 | 1,035 | 4,592 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 594 | 210 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds received from officer loan repayments | ' | ' | ' | ' | ' | 150,000 | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs | $8,750 | $519,370 | $530,337 | ' | $1,041,540 | ' | ' | $3,025,236 | ' | ' | ' | $3,329 | $9,920 | ' | ' | ' | ' | ' | $150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' | ' | $212,000 | ' | $6,000 | ' | ' | ' | $522,170 | $2,494,899 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,289,527 |
Issuance of common shares and warrants for cash, net of offering costs, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,614,286 | 2,042,856 | 3,329,503 | 9,920,000 | ' | 807,143 | 1,021,432 | 16.14 | 20.43 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 526,318 | 605,716 | 526,318 | ' | ' | 3,157,895 | 3,157,895 | ' | ' | ' | ' | 1,715,217 | 7,877,144 | 857,609 | 3,938,570 | 389,000 | 17.15 | 78.77 | 31.12 |
Exercise price of Unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | ' | 0.35 | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||||
Apr. 30, 2013 | Feb. 28, 2013 | Dec. 30, 2012 | Apr. 30, 2013 | Dec. 31, 2012 | Apr. 30, 2014 | Sep. 30, 2012 | Aug. 31, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Apr. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Feb. 28, 2013 | Dec. 30, 2012 | Oct. 31, 2012 | Apr. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jul. 31, 2014 | Jul. 31, 2014 | Jul. 31, 2014 | Jul. 31, 2014 | |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||
Director [Member] | Director [Member] | Director [Member] | Two Directors [Member] | Two Directors [Member] | Two Directors [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Institutional Investor [Member] | Janet Gill, Chief Financial Officer [Member] | ||||||||||||||||||
Common Stock [Member] | Warrant [Member] | Common Stock [Member] | Warrant [Member] | Common Stock [Member] | Warrant [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs | $8,750 | $519,370 | $530,337 | $1,041,540 | $3,025,236 | ' | ' | ' | ' | ' | $3,329 | $9,920 | ' | ' | ' | ' | ' | $50,000 | ' | ' | $100,000 | ' | ' | $1,631,500 | ' | ' | ' |
Issuance of common shares and warrants for cash, net of offering costs, shares | ' | ' | ' | ' | ' | ' | ' | ' | 1,614,286 | 2,042,856 | 3,329,503 | 9,920,000 | ' | 807,143 | 1,021,432 | ' | ' | ' | 263,158 | 263,158 | ' | 526,318 | 526,318 | ' | 10,525,809 | 5,262,905 | ' |
Price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.33 | ' | ' | ' | ' | $0.19 | ' | ' | $0.19 | ' | ' | $0.16 | ' | ' | ' |
Percent warrant coverage included in units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' |
Option expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' |
Exercise price of warrants | $0.50 | ' | ' | $0.50 | ' | $0.50 | $0.33 | $1 | ' | ' | ' | ' | ' | $0.50 | $0.35 | $0.50 | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | $0.19 | ' |
Proceeds from related party investment in Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,750 |
Expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Aug-14 |
Number of shares issuable in exchange to waive an agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,750,000 |