• Filing Date: 2012-12-13
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.6
Common Stock (Tables)
6 Months Ended
Oct. 31, 2012
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
      Six Months Ended  
      October 31, 2012     October 31, 2011  
  Risk-free interest rate   0.62%     n/a  
  Expected volatility   74.47%     n/a  
  Expected term   3.7 years     n/a  
  Dividend yield   0%     n/a  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
            Weighted Average  
      Number of     Exercise Price  
      Options     per Share  
  Outstanding at April 30, 2012   3,925,979   $ 1.15  
  Granted   310,000   $ 2.90  
  Exercised   (132,292 ) $ 0.70  
  Expired   (12,000 ) $ 1.24  
  Forfeited/Cancelled   (176,812 ) $ 1.69  
  Outstanding at October 31, 2012   3,914,875   $ 1.28  
               
  Exercisable at October 31, 2012   2,414,785   $ 0.93  
  Exercisable at April 30, 2012   2,087,742   $ 0.85  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
    Number of     Aggregate           Number of     Aggregate  
Exercise   Options     Intrinsic           Options     Intrinsic  
Price   Outstanding     Value     Expiry Date     Exercisable     Value  
$0.44   373,591   $   769,597     December 15, 2013     356,744   $   734,893  

$0.47
 
356,389
   
723,470
    December 13, 2012 to
September 26, 2016
   
356,389
   
723,470
 
$0.60   424,020     805,638     December 14, 2014     303,549     576,743  
$0.62   850,000     1,598,000     April 17, 2014     743,750     1,398,250  
$1.70   800,000     640,000     December 17, 2016     166,666     133,333  
$1.90   421,875     253,125     December 14, 2015     191,665     114,999  
                December 31, 2014 to              
$2.00   12,000     6,000     February 28, 2015     12,000     6,000  
$2.15   240,000     84,000     September 7, 2016     240,000     84,000  
$2.27   102,000     23,460     March 10, 2016     40,376     9,286  
$2.55   25,000         March 8, 2017     3,646      
$2.68   5,000         September 13, 2017          
$2.90   305,000         July 19, 2017          
October 31, 2012   3,914,875   $   4,903,290           2,414,785   $   3,780,974  
                               
April 30, 2012   3,925,979   $   6,751,493           2,087,742   $   4,213,032  
Schedule of Nonvested Performance-based Units Activity [Table Text Block]
            Weighted Average  
      Number of Options     Grant Date Fair Value  
  Non-vested options at April 30, 2012   1,838,237   $ 0.82  
  Granted   310,000   $ 1.54  
  Vested   (471,335 ) $ 0.68  
  Cancelled/Forfeited   (176,812 ) $ 0.90  
  Non-vested options at October 31, 2012   1,500,090   $ 1.00  
Schedule of Employee and Non-Employee Service Share-based Compensation Allocation of Recognized Period Costs [Table Text Block]
      Three Months Ended     Six Months Ended  
      October 31,     October 31,  
      2012     2011     2012     2011  
  Cost of sales $   8,797   $   8,875   $   17,636   $   17,919  
  Sales and marketing   73,072     26,906     127,007     35,872  
  Research and development   10,531     8,021     21,247     18,071  
  General and administrative   55,100     30,521     111,043     61,399  
  Total stock-option based compensation $   147,500   $   74,323   $   276,933   $   133,261  
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block]
      Number of     Weighted Average        
      Warrants     Exercise Price     Expiry Dates  
  Warrants at April 30, 2012   2,793,105   $ 1.94     July 30, 2012 to June 14, 2013  
  Granted   732,500   $ 3.25     June 19, 2014  
  Exercised   (167,103 ) $ 1.92     June 14, 2013  
  Expired   (1,000,000 ) $ 1.50     July 30, 2012  
  Warrants at October 31, 2012   2,358,502   $ 2.54     December 14, 2012 to June 19, 2014  
Schedule of Stockholders Equity Deferred Share Unit Plan [Table Text Block]
            Weighted Average  
            Grant Date Fair  
      Number of DSU’s     Value Per Unit  
  DSU’s outstanding at April 30, 2012   1,588,064   $ 0.83  
  Granted   133,443   $ 2.90  
  Conversions        
  DSU’s outstanding at October 31, 2012   1,721,507   $ 1.01  
Schedule of Stockholders Equity Non Vested Deferred Share Units [Table Text Block]
            Weighted Average  
            Grant Date Fair  
      Number of DSU’s     Value Per Unit  
  Non-vested DSU’s at April 30, 2012   334,337   $ 1.33  
  Granted   133,443   $ 2.90  
  Vested   (165,007 ) $ 2.06  
  Non-vested DSU’s at October 31, 2012   302,773   $ 1.63  
Schedule of Allocation of Share Based Compensation Costs for Deferred Share Units [Table Text Block]
      Three Months Ended     Six Months Ended  
      October 31,     October 31,  
      2012     2011     2012     2011  
  Sales and marketing $   4,167   $  –   $   8,334   $  –  
  Research and development   2,082         2,354      
  General and administrative   60,856     55,600     323,754     240,923  
  Total DSU-based compensation $   67,105   $   55,600   $   334,442   $   240,923