Securities Purchase Agreement (Details Narrative) |
1 Months Ended | 12 Months Ended | |||
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Feb. 28, 2015
USD ($)
$ / shares
shares
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Nov. 30, 2014
USD ($)
$ / shares
$ / unit
shares
|
Jul. 31, 2014
USD ($)
|
Apr. 30, 2016
USD ($)
$ / shares
shares
|
Apr. 30, 2015
USD ($)
$ / shares
$ / unit
shares
|
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| Securities Purchase Agreement (Textual) [Abstract] | |||||
| Gain on extinguishment of debt | $ 22,000 | ||||
| Restricted Stock | Chief Executive Officer | |||||
| Securities Purchase Agreement (Textual) [Abstract] | |||||
| Net proceeds from sale of stock and warrants | $ 365,000 | ||||
| Exercise price of warrants | $ / shares | $ 7.50 | ||||
| Risk-free interest rate | 1.19% | ||||
| Expected volatility | 90.50% | ||||
| Expected dividend rate | 0.00% | ||||
| Expected term | 5 years | ||||
| Restricted shares, issued and sold | shares | 61,000 | ||||
| Price per share | $ / shares | $ 6.00 | ||||
| Warrants issued | shares | 105,333 | ||||
| Series B Preferred Shares | |||||
| Securities Purchase Agreement (Textual) [Abstract] | |||||
| Preferred stock, shares converted | shares | 4,125 | ||||
| Common stock issued upon conversion of preferred stock | shares | 27,500 | ||||
| Adjustment to additional paid in capital upon redemption of preferred stock | $ 50,325 | ||||
| Price per share | $ / shares | $ 12.20 | ||||
| Private Placement | Series A Preferred Shares | |||||
| Securities Purchase Agreement (Textual) [Abstract] | |||||
| Common stock issued | shares | 46,413 | ||||
| Risk-free interest rate | 1.19% | ||||
| Expected volatility | 90.50% | ||||
| Expected dividend rate | 0.00% | ||||
| Strike price | $ / unit | 7.50 | ||||
| Expected term | 5 years | ||||
| Private placement, description | On November 12, 2014, the Company completed a private placement of 600,000 shares of its Series A Preferred Stock (“Series A Stock”) together with Warrants to purchase shares of its common stock (“Preferred Warrant”) at a price of $5.00 per share, in accordance with the Series A Preferred Stock Purchase Agreement dated October 20, 2014 (the “Purchase Agreement”). At any time from November 17, 2014, the date of Closing, and prior to October 20, 2019 (the “Put/Call Exercise Period”), the investors may exercise a right to purchase and require the Company to sell up to an additional 700,000 shares of Series A Stock. If the investors have not exercised this right during the Put/Call Exercise Period, the Company may exercise a right to cause and require the investors to purchase up to an additional 700,000 shares of Series A Stock, for an aggregate purchase price of $3,500,000. Holders of the Series A Stock shall initially have the right to convert such shares of Series A Stock into the number of authorized but previously unissued shares of the Company’s common stock obtained by dividing the stated value of each share of Series A ($5.00) by $6.00. For each share of Series A Stock, the investors will receive 2.5 Preferred Warrants to purchase the Company’s common stock at an exercise price of $2.50 per share. The Preferred Warrants are exercisable immediately for a period of five years from the date of closing. The exercise price of the Preferred Warrants is subject to adjustments in the case of stock splits, stock dividends, combinations of shares and similar recapitalization transactions. The exercisability of the Preferred Warrants may be limited if upon exercise, the warrant holder or any of its affiliates would beneficially own more than 4.99% of the Company’s Common Stock. | On February 2, 2015, the Company completed a private placement of 26,600 shares of its Series A Stock together with Preferred Warrants to purchase shares of its common stock at a price of $5.00 per share, in accordance with the Purchase Agreement. | |||
| Private placement, conversion terms | Holders of the Series A Stock shall initially have the right to convert such shares of Series A Stock into the number of authorized but previously unissued shares of the Company's common stock obtained by dividing the stated value of each share of Series A ($5.00) by $2.00. For each share of Series A Stock, the investors will receive 2.5 Preferred Warrants to purchase the Company's common stock at an exercise price of $2.50 per share. The Preferred Warrants are exercisable immediately for a period of five years from the date of closing. The exercise price of the Preferred Warrants is subject to adjustments in the case of stock splits, stock dividends, combinations of shares and similar recapitalization transactions. The exercisability of the Preferred Warrants may be limited if upon exercise, the warrant holder or any of its affiliates would beneficially own more than 4.99% of the Company's Common Stock. | ||||
| Private placement preferred shares issued | shares | 600,000 | 20,000 | 26,600 | ||
| Proceeds from issuance of private placement | $ 2,700,000 | $ 100,000 | $ 133,000 | ||
| Preferred stock, dividend rate, percentage | 8.00% | 8.00% | |||
| Preferred stock, dividend rate, per share dollar amount | $ / shares | $ 0.40 | ||||
| Preferred stock, shares converted | shares | 123,300 | ||||
| Common stock issued upon conversion of preferred stock | shares | 205,500 | ||||
| Reduction of preferred stock upon conversion, value | $ 365,000 | ||||
| Adjustment to additional paid in capital upon redemption of preferred stock | 365,000 | ||||
| Preferred stock, dividends recorded | 122,000 | $ 111,000 | |||
| Accumulated dividends, settled through issuance of stock | 233,000 | ||||
| Adjustment to additional paid in capital, settlement of dividends | $ 233,000 | ||||
| Price per share | $ / shares | $ 5.00 | $ 2.96 | $ 5.00 | ||
| Common stock issued for services | shares | 60,833 | ||||
| Warrants issued for services | shares | 30,000 | ||||
| Securities Purchase Agreement | Accredited Investors | |||||
| Securities Purchase Agreement (Textual) [Abstract] | |||||
| Shares of stock sold | shares | 166,667 | ||||
| Net proceeds from sale of stock and warrants | $ 500,000 | ||||
| Price per share | $ / shares | $ 3.00 | ||||
| Securities Purchase Agreement | Bridge Notes and Warrants | |||||
| Securities Purchase Agreement (Textual) [Abstract] | |||||
| Description of period for exercisability of warrants | The Bridge Warrants are exercisable for five years after the closing date of the Purchase Agreement, or July 15, 2019. For each $1,000 of principal amount of Bridge Notes, the holder received 1,200 Bridge Warrants, each exercisable for the purchase of one share of the Company’s common stock. Each holder is entitled to exercise one-third of all Bridge Warrants received at an exercise price of $9.00, one-third of all Bridge Warrants received at an exercise price of $10.50, and one-third of all Bridge Warrants received at an exercise price that is equal to the closing price on the closing date of the Purchase Agreement, $8.82. | ||||
| Exercise price of warrants | $ / shares | $ 2.00 | ||||
| Bridge loan | $ 750,000 | ||||
| Bridge loan, issuance date | Jul. 15, 2014 | ||||
| Bridge loan, description | The Company issued $600,000 aggregate principal amount of the Bridge Notes to certain Institutional investors and $150,000 aggregate principal amount of the Bridge Notes to certain members of Management. | ||||
| Bridge loan, maturity date | Jul. 15, 2019 | ||||
| Bridge loan, conversion description | The sale of shares of its Series A Stock resulted in the reduction of the conversion price of the Bridge Notes held by the institutional investors to $2.00 from $2.50 to equal the conversion price of the Series A Preferred Stock. | The initial conversion price for Institutional Investors is $7.50 per share (which was subsequently reduced), and the initial conversion price for Management was equal to the closing price of the Company’s common stock on the closing date of the Purchase Agreement, $8.82. | |||
| Bridge loan, interest rate | 8.00% | ||||
| Preferred stock, shares issued | shares | 600,000 | 55,083 | |||
| Preferred stock, shares issued, value | $ 649,967 | ||||
| Extinguishment of debt | 672,000 | ||||
| Gain on extinguishment of debt | $ 22,033 | ||||
| Risk-free interest rate | 1.26% | ||||
| Expected volatility | 100.00% | ||||
| Expected dividend rate | 0.00% | ||||
| Expected term | 5 years | ||||
| Discount on notes payable, warrants | $ 562,000 | ||||
| Beneficial conversion feature | 188,000 | ||||
| Non-cash interest charge | $ 750,000 | ||||
| Bridge Note Holders of Warrants, number of warrants exchanged for Series B Preferred Stock | shares | 255,000 | ||||
| Series B Preferred Stock, issued as a result of exchange of warrants held by Bridge Note holders | shares | 19,125 | ||||
| Adjustment in additional paid in capital | $ 233,300 | ||||
| Private Placement | Put/Call Option | |||||
| Securities Purchase Agreement (Textual) [Abstract] | |||||
| Risk-free interest rate | 1.64% | ||||
| Expected volatility | 93.00% | ||||
| Expected dividend rate | 8.00% | ||||
| Expected term | 5 years | ||||
| Private Placement | Warrant | |||||
| Securities Purchase Agreement (Textual) [Abstract] | |||||
| Risk-free interest rate | 1.64% | ||||
| Expected volatility | 93.00% | ||||
| Expected dividend rate | 0.00% | ||||
| Strike price | $ / unit | 7.50 | ||||
| Expected term | 5 years | ||||