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DEBT
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3 Months Ended |
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Jul. 31, 2013
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| Debt Disclosure [Abstract] | |
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DEBT
As of July 31, 2013, the Company had an obligation to pay $400,000 in licensing fees for a licensing agreement terminated in 2009. The debt is presently under settlement negotiations.
As of July 31, 2013, the company owes $20,000 plus accrued interest to a note holder. The note accrues interest at 8% per annum and is past due. The debt is presently under settlement negotiations.
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- Details
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- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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