• Filing Date: 2012-12-13
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.6
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended
Oct. 31, 2012
Oct. 31, 2011
Oct. 31, 2012
Oct. 31, 2011
Revenue :        
Software $ 1,811,815 $ 2,127,860 $ 4,339,871 $ 3,711,911
Service 1,750,972 1,345,993 3,610,684 2,520,676
Total revenue 3,562,787 3,473,853 7,950,555 6,232,587
Operating expenses:        
Cost of sales (includes depreciation of $22,071 (2011 - $12,363) and amortization of intangible assets of $19,591 (2011 - $484,174)) 626,006 648,201 1,185,799 1,508,346
Sales and marketing 1,028,217 921,232 2,083,252 1,743,266
Research and development 1,284,594 1,114,017 2,645,606 2,106,528
General and administrative 1,164,092 1,020,033 2,543,411 2,054,307
Total operating expenses 4,102,909 3,703,483 8,458,068 7,412,447
Loss from operations (540,122) (229,630) (507,513) (1,179,860)
Interest and other income (expense), net:        
Interest and other income 18,090 49,483 61,943 98,836
Interest expense (154) (442) (624) (171,684)
Fair value adjustment on derivative instruments 208,036 282,014 993,164 427,728
Foreign exchange gain (loss) (10,955) 10,624 (4,537) 11,311
Net income (loss) for the period $ (325,105) $ 112,049 $ 542,433 $ (813,669)
Net income (loss) per share: Basic and diluted $ (0.01) $ 0.00 $ 0.01 $ (0.02)
Weighted average common shares outstanding: 41,592,776 39,552,114 41,159,949 37,692,012