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Document And Entity Information - USD ($) $ in Millions	12 Months Ended
Document And Entity Information - USD ($) $ in Millions	Apr. 30, 2012	Jun. 30, 2012	Oct. 31, 2011
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2012
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2012
Entity Registrant Name	Ocean Power Technologies, Inc.
Entity Central Index Key	0001378140
Current Fiscal Year End Date	--04-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,382,060
Entity Public Float			$ 37.1
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes

Consolidated Balance Sheets - USD ($)	Apr. 30, 2012	Apr. 30, 2011
ASSETS
Cash and cash equivalents	$ 9,353,460	$ 4,376,136
Marketable securities	22,369,484	26,018,594
Accounts receivable, net	1,064,796	1,285,000
Unbilled receivables	223,050	456,316
Other current assets	842,820	832,142
Total current assets	33,853,610	32,968,188
Property and equipment, net	682,933	792,092
Patents, net	1,269,457	1,222,368
Restricted cash	1,453,712	1,624,669
Marketable securities		16,323,016
Other noncurrent assets	181,925	622,245
Total assets	37,441,637	53,552,578
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	440,773	1,224,728
Accrued expenses	2,770,094	4,302,952
Deferred credits payable	600,000
Unearned revenues	1,073,389	344,022
Current portion of long-term debt	100,000	139,378
Total current liabilities	4,984,256	6,011,080
Long-term debt	350,000	450,000
Deferred credits		600,000
Total liabilities	5,334,256	7,061,080
Commitments and contingencies (note 13)
Ocean Power Technologies, Inc. Stockholders' equity:
Preferred stock, $0.001 par value; authorized 5,000,000 shares, none issued or outstanding
Common stock, $0.001 par value; authorized 105,000,000 shares, issued 10,407,389 and 10,419,183 shares, respectively	10,407	10,419
Treasury stock, at cost; 23,544 and 7,685 shares, respectively	(102,388)	(42,734)
Additional paid-in capital	158,296,458	157,174,930
Accumulated deficit	(125,989,474)	(110,848,972)
Accumulated other comprehensive (loss) income	(78,990)	175,907
Total Ocean Power Technologies, Inc. stockholders' equity	32,136,013	46,469,550
Noncontrolling interest in Ocean Power Technologies (Australasia) Pty Ltd	(28,632)	21,948
Total equity	32,107,381	46,491,498
Total liabilities and stockholders' equity	$ 37,441,637	$ 53,552,578

Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2012	Apr. 30, 2011
Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	105,000,000	105,000,000
Common stock, shares issued	10,407,389	10,419,183
Treasury stock, shares	23,544	7,685

Consolidated Statements Of Operations - USD ($)	12 Months Ended
Consolidated Statements Of Operations - USD ($)	Apr. 30, 2012	Apr. 30, 2011
Consolidated Statements Of Operations [Abstract]
Revenues	$ 5,738,506	$ 6,691,082
Cost of revenues	5,683,731	6,255,437
Gross profit	54,775	435,645
Operating expenses:
Product development costs	8,337,424	13,319,110
Selling, general and administrative costs	8,274,096	8,399,325
Total operating expenses	16,611,520	21,718,435
Operating loss	(16,556,745)	(21,282,790)
Interest income, net	418,052	689,276
Foreign exchange loss	(104,739)	(229,415)
Loss before income taxes	(16,243,432)	(20,822,929)
Income tax benefit	1,053,427	364,105
Net loss	(15,190,005)	(20,458,824)
Less: Net loss attributable to the noncontrolling interest in Ocean Power Technologies (Australasia) Pty Ltd.	49,503	22,950
Net loss attributable to Ocean Power Technologies, Inc.	$ (15,140,502)	$ (20,435,874)
Basic and diluted net loss per share	$ (1.47)	$ (1.99)
Weighted average shares used to compute basic and diluted net loss per share	10,277,661	10,246,921

Consolidated Statements Of Stockholders' Equity And Comprehensive Loss - USD ($)	Common Shares [Member]	Treasury Shares [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Total Ocean Power Technologies, Inc, Stockholders Equity [Member]	Noncontrolling Interest [Member]	Total
Balance at Apr. 30, 2010	$ 10,391	$ (6,443)	$ 155,726,672	$ (90,413,098)	$ (503,322)	$ 64,814,200	$ 40,890	$ 64,855,090
Balance, shares at Apr. 30, 2010	10,390,563	(1,072)
Net loss				(20,435,874)		(20,435,874)	(22,950)	(20,458,824)
Foreign currency translation adjustment					679,229	679,229	4,008	683,237
Total comprehensive loss						(19,756,645)	(18,942)	(19,775,587)
Stock based compensation			964,000			964,000		964,000
Issuance (forfeiture) of restricted stock, net	$ 28		484,258			484,286		484,286
Issuance (forfeiture) of restricted stock net, shares	28,620
Acquisition of treasury stock		$ (36,291)				(36,291)		(36,291)
Acquisition of treasury stock, shares		(6,613)
Balance at Apr. 30, 2011	$ 10,419	$ (42,734)	157,174,930	(110,848,972)	175,907	46,469,550	21,948	46,491,498
Balance, shares at Apr. 30, 2011	10,419,183	(7,685)
Net loss				(15,140,502)		(15,140,502)	(49,503)	(15,190,005)
Foreign currency translation adjustment					(254,897)	(254,897)	(1,077)	(255,974)
Total comprehensive loss						(15,395,399)	(50,580)	(15,445,979)
Stock based compensation			1,008,473			1,008,473		1,008,473
Issuance (forfeiture) of restricted stock, net	$ (12)		113,055			113,043		113,043
Issuance (forfeiture) of restricted stock net, shares	11,794
Acquisition of treasury stock		$ (59,654)				(59,654)		(59,654)
Acquisition of treasury stock, shares		(15,859)
Balance at Apr. 30, 2012	$ 10,407	$ (102,388)	$ 158,296,458	$ (125,989,474)	$ (78,990)	$ 32,136,013	$ (28,632)	$ 32,107,381
Balance, shares at Apr. 30, 2012	10,407,389	(23,544)

Consolidated Statements Of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements Of Cash Flows - USD ($)	Apr. 30, 2012	Apr. 30, 2011
Cash flows from operating activities:
Net loss	$ (15,190,005)	$ (20,458,824)
Adjustments to reconcile net loss to net cash used in operating activities:
Foreign exchange loss	104,739	229,415
Depreciation and amortization	436,062	358,722
Loss on disposals of property, plant and equipment	52,128	5,293
Impairment of long-lived assets	358,447
Provision for doubtful accounts	298,534
Treasury note (discount) premium amortization	(33,353)	71,236
Compensation expense related to stock option grants and restricted stock	1,121,528	1,448,286
Changes in operating assets and liabilities:
Accounts receivable	(126,722)	277,115
Unbilled receivables	226,840	1,396
Other current assets	(17,291)	198,569
Other noncurrent assets	43,504	903,729
Accounts payable	(546,709)	(891,417)
Accrued expenses	(1,371,912)	(7,923)
Unearned revenues	729,367	(761,473)
Other noncurrent liabilities		(144,226)
Net cash used in operating activities	(13,914,843)	(18,770,102)
Cash flows from investing activities:
Purchases of marketable securities	(18,574,454)	(7,993,642)
Maturities of marketable securities	38,559,110	27,059,601
Restricted cash	53,936	(302,871)
Purchases of equipment	(547,252)	(72,998)
Payments of patent costs	(180,011)	(258,732)
Net cash provided by investing activities	19,311,329	18,431,358
Cash flows from financing activities:
Proceeds from long-term debt		250,000
Repayment of long-term debt	(139,378)	(6,008)
Acquisition of treasury stock	(59,654)	(36,291)
Net cash (used in) provided by financing activities	(199,032)	207,701
Effect of exchange rate changes on cash and cash equivalents	(220,130)	270,582
Net increase in cash and cash equivalents	4,977,324	139,539
Cash and cash equivalents, beginning of period	4,376,136	4,236,597
Cash and cash equivalents, end of period	9,353,460	4,376,136
Supplemental disclosure of noncash investing and financing activities:
Capitalized patent costs financed through accounts payable and accrued expenses		41,722
Capitalized purchases of equipment financed through accounts payable and accrued expenses	$ 42,344	$ 314,824

Background	12 Months Ended
Background	Apr. 30, 2012
Background [Abstract]
Background	(1) Background Ocean Power Technologies, Inc. (the Company) was incorporated on April 19, 1984 in the State of New Jersey, commenced active operations in 1994 and re-incorporated in the State of Delaware in April 2007. The Company develops and is commercializing proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. The Company markets and sells its products in the United States and internationally.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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+ Details

Summary Of Significant Accounting Policies

12 Months Ended

Apr. 30, 2012

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

(2) Summary of Significant Accounting Policies

(a) Consolidation and Cost Method Investment

The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Participation of stockholders other than the Company in the net assets and in the earnings or losses of a consolidated subsidiary is reflected in the caption "Noncontrolling interest" in the Company's Consolidated Balance Sheets and Statements of Operations. Noncontrolling interest adjusts the Company's consolidated results of operations to reflect only the Company's share of the earnings or losses of the consolidated subsidiary. For the years presented in the accompanying consolidated financial statements, there was one noncontrolling interest, consisting of 11.8% of the Company's Australian subsidiary.

In addition, the Company evaluates its relationships with other entities to identify whether they are variable interest entities, and to assess whether it is the primary beneficiary of such entities. If the determination is made that the Company is the primary beneficiary, then that entity is included in the consolidated financial statements. For the years presented in the accompanying consolidated financial statements, there were no such entities.

The Company has a 10% investment in Iberdrola Energias Marinas de Cantabria, S.A. (Iberdrola Cantabria). During the fourth quarter of fiscal 2012, the Company evaluated the realizability of this investment and concluded that it was impaired. Representing 100% of the Company's investment, the amount of the impairment was $0.3 million which was recorded as selling, general, and administrative expense on the accompanying statement of operations. This assessment was based upon the specific business activities currently being performed by Iberdrola Cantabria as well as the current overall economic environment in Europe. Additionally, net accounts receivable and unbilled receivables from Iberdrola Cantabria were $0 and $0.3 million as of April 30, 2012 and 2011, respectively. See Note 13(c). As discussed above, given the uncertainty surrounding this investment, outstanding receivables from Iberdrola Cantabria in the amount of $0.3 million as of April 2012 were fully reserved during the fourth quarter of fiscal 2012.

(b) Use of Estimates

The preparation of the consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include the recoverability of the carrying amount of property and equipment and patents; valuation allowances for receivables and deferred income tax assets; and percentage of completion of customer contracts for purposes of revenue recognition. Actual results could differ from those estimates. The current economic environment has increased the degree of uncertainty inherent in those estimates and assumptions.

(c) Revenue Recognition

The Company's contracts are either cost plus or fixed price contracts. Under cost plus contracts, customers are billed for actual expenses incurred plus an agreed-upon fee. Currently, the Company has two types of fixed price contracts, firm fixed price and cost-sharing. Under firm fixed price contracts, the Company receives an agreed-upon amount for providing products and services specified in the contract. Under cost-sharing contracts, the fixed amount agreed upon with the customer is only intended to fund a portion of the costs on a specific project.

Generally, the Company recognizes revenue using the percentage-of-completion method based on the ratio of costs incurred to total estimated costs at completion. In certain circumstances, revenue under contracts that have specified milestones or other performance criteria may be recognized only when the customer acknowledges that such criteria have been satisfied. In addition, recognition of revenue (and the related costs) may be deferred for fixed-price contracts until contract completion if the Company is unable to reasonably estimate the total costs of the project prior to completion. Because the Company has a small number of contracts, revisions to the percentage-of-completion determination or delays in meeting performance criteria or in completing projects may have a significant effect on revenue for the periods involved. Upon anticipating a loss on a contract, the Company recognizes the full amount of the anticipated loss in the current period. Accruals related to losses on contracts in the amount of approximately $785,000 are included in accrued expenses in the accompanying consolidated balance sheets as of April 30, 2012 and 2011. During the year ended April 30, 2011, the Company's revenue was reduced by approximately $243,000 due to a change in estimated revenue to be recognized in connection with the 2006 Spain Construction Agreement.

Under cost plus and firm fixed price contracts there is a profit or loss on the project depending on whether actual costs are more or less than the agreed upon amount. Under cost sharing contracts, an amount corresponding to the revenue is recorded in cost of revenues, resulting in gross profit on these contracts of zero. The Company's share of the costs is recorded as product development expense.

Unbilled receivables represent expenditures on contracts, plus applicable profit margin, not yet billed. Unbilled receivables are normally billed and collected within one year. Billings made on contracts are recorded as a reduction of unbilled receivables, and to the extent that such billings and cash collections exceed costs incurred plus applicable profit margin, they are recorded as unearned revenues. During the year ended April 30, 2012, the Company received a $1.1 million advance payment, which was recorded as unearned revenues, related to a grant from the European Union for the WavePort project in Spain. As of April 30, 2012, $467,000 of the advanced payment remained in unearned revenue.

(d) Cash and Cash Equivalents

Cash equivalents consist of investments in short-term financial instruments with initial maturities of three months or less from the date of purchase. Cash and cash equivalents include the following:


	April 30,
	2012		2011

Checking and savings accounts	$	2,051,918	3,621,136
Certificates of deposits and US Treasury obligations		5,998,925	273,000
Money market funds		1,302,617	482,000
	$	9,353,460	4,376,136

(e) Marketable Securities

Marketable securities with original maturities longer than three months but that mature in less than one year from the balance sheet date are classified as current assets. Marketable securities that mature more than one year from the balance sheet date are classified as noncurrent assets. Marketable securities that the Company has the intent and ability to hold to maturity are classified as investments held-to-maturity and are reported at amortized cost. The difference between the acquisition cost and face values of held-to-maturity investments is amortized over the remaining term of the investments and added to or subtracted from the acquisition cost and interest income. As of April 30, 2012 and 2011, all of the Company's investments were classified as held-to-maturity.

(f) Restricted Cash and Credit Facility

A portion of the Company's cash is restricted under the terms of two security agreements.

One agreement is between Ocean Power Technologies, Inc. and Barclays Bank. Under this agreement, the cash is on deposit at Barclays Bank and serves as security for letters of credit that are expected to be issued by Barclays Bank on behalf of Ocean Power Technologies Ltd., one of the Company's subsidiaries, under a €800,000 ($1,060,000 at April 30, 2012) credit facility established by Barclays Bank for Ocean Power Technologies Ltd. The credit facility is for the issuance of letters of credit and bank guarantees and carries a fee of 1% per annum of the amount of any such obligations issued by Barclays Bank. As of April 30, 2012, there were €266,000 ($352,000) in letters of credit outstanding under this agreement. The credit facility does not have an expiration date, but is cancelable at the discretion of the bank.

The other agreement is between Ocean Power Technologies, Inc. and the New Jersey Board of Public Utilities (NJBPU). The Company received a $500,000 recoverable grant award from the NJBPU. Under this agreement, the Company is required to assign to the NJBPU a certificate of deposit in an amount equal to the outstanding grant balance. See Note 7.

Cash restricted under security agreements is as follows:


	April 30,
	2012		2011

Barclays Bank agreement	$	953,712	1,068,336
NJBPU agreement		500,000	500,000
Escrow account		—	56,333
	$	1,453,712	1,624,669

(g) Property and Equipment

Property and equipment is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives (three to seven years) of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the remaining lease term. Expenses for maintenance and repairs are charged to operations as incurred.

(h) Foreign Exchange Gains and Losses

The Company has invested in certain certificates of deposit and has maintained cash accounts that are denominated in British pounds sterling, Euros and Australian dollars. These amounts are included in cash, cash equivalents, restricted cash and marketable securities on the accompanying consolidated balance sheets. Such positions may result in realized and unrealized foreign exchange gains or losses from exchange rate fluctuations, which gains and losses are included in foreign exchange loss in the accompanying consolidated statements of operations.


	Year Ended April 30,
		2012		2011
Foreign exchange loss	$	(104,739	)	(229,415	)


	April 30,
	2012		2011
Foreign currency denominated certificates of
deposit and cash accounts	$	2,826,000	4,793,000

(i) Patents

Prior to February 1, 2012, external patent costs were amortized on a straight-line basis over a 17-year period commencing with the issuance date of each patent. The Company operates in the renewable energy industry. Wave energy technology is still at an early stage of development, and as a result, it continues to evolve and change as such technology is developed. Costs are expensed when it is no longer probable that such technology will be utilized. Additionally, the Company continually re-assesses the remaining useful lives of its long-lived assets. Patents are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the patent may not be recoverable. In the fourth quarter of fiscal 2012, the Company performed its recurring assessment of the realizability of its patents and recorded impairment expenses of $13,240. Based on the Company's assessment, the Company also evaluated the remaining useful lives of its existing patents, as of February 1, 2012, and concluded that the remaining amortization should be recorded over periods ranging from three to seven years. Amortization expense was $109,857, and $47,877 for the years ended April 30, 2012 and 2011, respectively. Amortization expense for the next five fiscal years related to amounts capitalized for patents as of April 30, 2012 is estimated to be approximately $207,000 per year. As a result of the change in estimated useful life, amortization expense was higher by approximately $53,000 in fiscal 2012 and estimated to be higher by approximately $150,000 per year for the next five years.

(j) Long-Lived Assets

Long-lived assets, such as property and equipment, and patents subject to amortization and cost-basis investments, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, then an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. The Company reviewed its long-lived assets for impairment for the years ended April 30, 2012 and 2011. The Company recorded impairment charges of $358,447 in the year ended April 30, 2012 related to patents and an investment in a joint venture. The Company determined there was no impairment for the year ended April 30, 2011.

(k) Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash balances, bank certificates of deposit and trade receivables. The Company invests its excess cash in highly liquid investments (principally short-term bank deposits, Treasury bills, Treasury notes and money market funds) and does not believe that it is exposed to any significant risks related to its cash accounts, money market funds or certificates of deposit.

The table below shows the percentage of the Company's revenues derived from customers whose revenues accounted for at least 10% of the Company's consolidated revenues for at least one of the periods indicated:


	Years Ended April 30,
	2012		2011

US Department of Energy	32	%	28	%
US Navy	29	%	52	%
UK Government's Technology Strategy Board	20	%	14	%
European Union (WavePort project)	13	%	-

The loss of, or a significant reduction in revenues from, any of the current customers could significantly impact the Company's financial position or results of operations. The Company does not require collateral from its customers.

(l) Net Loss per Common Share

Basic and diluted net loss per share for all periods presented is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Due to the Company's net losses, potentially dilutive securities, consisting of outstanding stock options and non-vested performance-based shares, were excluded from the diluted loss per share calculation due to their anti-dilutive effect.

In computing diluted net loss per share, options to purchase shares of common stock and non-vested restricted stock issued to employees and non-employee directors, totaling 1,447,313 and 1,504,888 for the years ended April 30, 2012 and 2011, respectively, were excluded from the computations as the effect would be anti-dilutive due to the Company's losses.

(m) Stock-Based Compensation

Costs resulting from all share-based payment transactions are recognized in the consolidated financial statements at their fair values. Compensation cost for the portion of the awards for which the requisite service had not been rendered that were outstanding as of May 1, 2006 is being recognized in the consolidated statements of operations over the remaining service period after such date based on the award's original estimated fair value. The aggregate share-based compensation expense recorded in the consolidated statements of operations for the years ended April 30, 2012 and 2011 was approximately $1,121,000 and $1,448,000 respectively.

Valuation Assumptions for Options Granted During the Years Ended April 30, 2012 and 2011

The fair value of each stock option granted during the years ended April 30, 2012 and 2011 was estimated at the date of grant using the Black-Scholes option pricing model, assuming no dividends and using the weighted average valuation assumptions noted in the following table. The risk-free rate is based on the US Treasury yield curve in effect at the time of grant. The expected life (estimated period of time outstanding) of the stock options granted was estimated using the "simplified" method as permitted by the Securities and Exchange Commission's Staff Accounting Bulletin No. 107, Share-Based Payment. Expected volatility was based on historical volatility for a peer group of companies for a period equal to the stock option's expected life, calculated on a daily basis.


	Years Ended April 30,
	2012		2011

Risk-free interest rate	1.83	%	2.29	%
Expected dividend yield	0.0	%	0.0	%
Expected life	5.83 years		6.39 years
Expected volatility	94.5	%	93.8	%

The above assumptions were used to determine the weighted average per share fair value of $2.98 and $4.18 for stock options granted during the years ended April 30, 2012 and 2011 respectively.

(n) Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and operating loss and tax credit carryforwards are expected to be recovered, settled or utilized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in selling, general, and administrative expenses, to the extent incurred.

(o) Accumulated Other Comprehensive Loss

The functional currency for the Company's foreign operations is the applicable local currency. The translation from the applicable foreign currencies to US dollars is performed for balance sheet accounts using the exchange rates in effect at the balance sheet date and for revenue and expense accounts using an average exchange rate during the period. The unrealized gains or losses resulting from such translation are included in accumulated other comprehensive loss within stockholders' equity.

(p) Recent Accounting Pronouncements

In May 2011, the Financial Accounting Standards Board (FASB) issued additional authoritative guidance related to fair value measurements and disclosures. The new guidance results in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between accounting principles generally accepted in the United States (US GAAP) and International Financial Reporting Standards (IFRS). The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2011. The Company is currently assessing the impact of the guidance.

In June 2011, the FASB issued amended guidance on the presentation of comprehensive income in financial statements. This amendment provides companies the option to present the components of net income and other comprehensive income either as one continuous statement of comprehensive income or as two separate but consecutive statements. It eliminates the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity. The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2011. The adoption of this new guidance will not impact the Company's financial position, results of operations or cash flows.

(q) Reclassifications

Certain prior year amounts have been reclassified to conform to the current year presentation.

Marketable Securities

12 Months Ended

Apr. 30, 2012

Marketable Securities [Abstract]

Marketable Securities

(3) Marketable Securities

Marketable securities are classified as current assets and are summarized as follows:


		April 30,
		2012	2011

Certificates of deposit denominated in Australian Dollars	$	556,437	491,895
Certificates of deposit denominated in US Dollars		3,806,808	-
US Treasury obligations		18,006,239	25,526,699
	$	22,369,484	26,018,594

The Company had no marketable securities classified as noncurrent assets as of April 30, 2012. Marketable securities classified as noncurrent assets as of April 30, 2011 are summarized below. These marketable securities all mature more than one year from the balance sheet date but less than two years, are all classified as held-to-maturity and are carried at amortized cost.


			Gross	Gross
		Amortized	unrealized	unrealized	Market
		cost	gains	losses	value
April 30, 2011

US Treasury obligations	$	12,516,208	164,107	-	12,680,315
Certificate of deposit		3,806,808	-	-	3,806,808

	$	16,323,016	164,107	-	16,487,123

Property And Equipment

12 Months Ended

Apr. 30, 2012

Property And Equipment [Abstract]

Property And Equipment

(4) Property and Equipment

The components of property and equipment are as follows:


			April 30,
	Life		2012		2011

Computers and software	3 years	$	696,784		713,779
Equipment	3 to 7 years		1,080,039		990,283
Office furniture and equipment	3 to 7 years		287,492		297,612
Leasehold improvements	3 to 8 years		149,505		149,505
			2,213,820		2,151,179
Less accumulated depreciation and amortization			(1,530,887	)	(1,359,087	)
		$	682,933		792,092

Depreciation expense was $326,205 and $310,268 for the years ended April 30, 2012 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Balance Sheet Detail

12 Months Ended

Apr. 30, 2012

Balance Sheet Detail [Abstract]

Balance Sheet Detail

(5) Balance Sheet Detail
		April 30,
		2012		2011
Accounts receivable, net
Accounts receivable	$	1,369,400		1,285,000
Allowance for doubtful accounts		(304,604	)	—
	$	1,064,796		1,285,000

Patents
Patents	$	1,574,044		1,556,277
Accumulated amortization		(304,587	)	(333,909	)
	$	1,269,457		1,222,368

Accrued expenses
Project costs	$	244,892		1,505,981
Contract loss reserves		785,000		785,000
Employee incentive payments		661,328		749,464
Other		185,320		282,999
Employee-related costs		354,966		364,799
Payroll tax withholdings		166,092		219,632
Investment in joint venture		176,110		197,318
Legal and accounting fees		193,720		157,616
Value-added tax		2,666		40,143
	$	2,770,094		4,302,952

Related Party Transactions

12 Months Ended

Apr. 30, 2012

Related Party Transactions

(6) Related Party Transactions

In August 1999, the Company entered into a consulting agreement with an individual for the provision of marketing services. Currently, this agreement provides for fees at a rate of $950 per day of services provided. The individual became a member of the board of directors in June 2006. In addition, this individual is also the chief executive officer of a company that provides engineering and technical services to the Company. The Company also provides services to the company where this individual is the chief executive officer. Financial details of this relationship are summarized as follows:


		Year Ended April 30,
		2012	2011
Related party consulting expense	$	86,000	85,000
Expenses for services provided by related party company		29,000	207,000
Revenue for services provided to related party company		126,000	77,000


		April 30,
		2012	2011
Consulting fees payable to related party	$	7,000	7,000
Payable to related party company		-	56,000
Receivable from related party company		-	27,000

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph b
-Article 3A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Debt	12 Months Ended
Debt	Apr. 30, 2012
Debt [Abstract]
Debt	(7) Debt During the year ended April 30, 2000, the Company received an award of $250,000 from the State of New Jersey Commission on Science and Technology for the development of a wave power system that was deployed off the coast of New Jersey. The award contract was assigned to the New Jersey Economic Development Authority in fiscal 2008. Under the terms of this award, the Company was required to repay the amount funded, without interest, by July 15, 2012. The amounts to be repaid each year were determined as a percentage of revenues (as defined in the loan agreement) the Company received that year from its customer contracts that met criteria specified in the loan agreement. The Company has repaid the entire award of $250,000 as of April 30, 2012, with the final payment of $89,378 made in May 2011. The Company was awarded a recoverable grant totaling $500,000 from the NJBPU under the Renewable Energy Business Venture Assistance Program. Under the terms of this agreement, the amount to be repaid is a fixed monthly amount of principal only, repayable over a five-year period beginning in November 2011. As of April 30, 2012 and April 30, 2011, $100,000 and $50,000, respectively, was included in current portion of long-term debt on the accompanying consolidated balance sheets. The terms also required the Company to assign to the NJBPU a certificate of deposit in an amount equal to the outstanding grant balance. See Note 2(f).

- 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.

+ References + Details

Deferred Credits Payable And Deferred Credits	12 Months Ended
Deferred Credits Payable And Deferred Credits	Apr. 30, 2012
Deferred Credits Payable And Deferred Credits [Abstract]
Deferred Credits Payable And Deferred Credits	(8) Deferred Credits Payable and Deferred Credits During the year ended April 30, 2001, in connection with the sale of common stock to an investor, the Company received $600,000 from the investor in exchange for an option to purchase up to 500,000 metric tons of carbon emissions credits generated by the Company during the years 2008 through 2012, at a 30% discount from the then-prevailing market rate. This amount has been recorded as deferred credits payable and deferred credits in the accompanying consolidated balance sheets as of April 30, 2012 and April 30, 2011, respectively. If the Company does not become entitled under applicable laws to the full amount of emission credits covered by the option by December 31, 2012, the Company is obligated to return the option fee of $600,000, less the aggregate discount on any emission credits sold to the investor prior to such date. If the Company receives emission credits under applicable laws and fails to sell to the investor the credits up to the full amount of emission credits covered by the option, the investor is entitled to liquidated damages equal to 30% of the aggregate market value of the shortfall in emission credits (subject to a limit on the market price of emission credits). As of April 30, 2012, the Company has not generated any emissions credits eligible for purchase under the agreement, and the Company does not expect to generate any eligible emissions credits before December 31, 2012. Accordingly, this amount has been classified as a current liability as of April 30, 2012.

Common Stock	12 Months Ended
Common Stock	Apr. 30, 2012
Common Stock [Abstract]
Common Stock	(9) Common Stock On April 30, 2007, the Company completed an initial public offering in the United States on the NASDAQ Global Market by issuing 5,000,000 shares of its common stock for a purchase price of $20.00 per share, resulting in net proceeds to the Company of approximately $89,900,000.

Preferred Stock	12 Months Ended
Preferred Stock	Apr. 30, 2012
Preferred Stock [Abstract]
Preferred Stock	(10) Preferred Stock The Company has authorized 5,000,000 shares of undesignated preferred stock with a par value of $0.001 per share. At April 30, 2012 and 2011, no shares of preferred stock had been issued.

Share-Based Compensation

12 Months Ended

Apr. 30, 2012

Share-Based Compensation [Abstract]

Share-Based Compensation

(11) Share-Based Compensation

In August 2001, the Company approved the 2001 Stock Plan, which provides for the grant of incentive stock options and nonqualified stock options. A total of 1,000,000 shares were authorized for issuance under the 2001 Stock Plan. As of April 30, 2012, the Company had issued or reserved 315,175 shares for issuance under the 2001 Stock Plan. After the effectiveness of the 2006 Stock Incentive Plan, no further options or other awards have been or will be granted under the 2001 Stock Plan.

On April 24, 2007, the Company's 2006 Stock Incentive Plan became effective. A total of 803,215 shares were authorized for issuance under the 2006 Stock Incentive Plan. On October 2, 2009, an amendment to the 2006 Stock Incentive Plan was approved, increasing the aggregate number of shares authorized for issuance by 850,000 shares to 1,653,215. As of April 30, 2012, the Company had issued share-based awards for 1,235,333 shares of common stock and had reserved an additional 417,882 shares of common stock for future issuance under the 2006 Stock Incentive Plan. The Company's employees, officers, directors, consultants and advisors are eligible to receive awards under the 2006 Stock Incentive Plan; however, incentive stock options may only be granted to employees. The maximum number of shares of common stock with respect to which awards may be granted to any participant under the 2006 Stock Incentive Plan is 200,000 per calendar year. Vesting provisions of stock options are determined by the board of directors. The contractual term of these stock options is up to ten years. The 2006 Stock Incentive Plan is administered by the Company's board of directors who may delegate authority to one or more committees or subcommittees of the board of directors or to the Company's officers. If the board of directors delegates authority to an officer, the officer has the power to make awards to all of the Company's employees, except to executive officers. The board of directors will fix the terms of the awards to be granted by such officer. No award may be granted under the 2006 Stock Incentive Plan after December 7, 2016, but the vesting and effectiveness of awards granted before that date may extend beyond that date.

(a) Stock Options

A summary of stock options under the plans described above is as follows:


				Weighted
				Average
			Weighted	Remaining
	Shares Under		Average	Contractual
	Option		Exercise Price	Term
				(In Years)

Outstanding April 30, 2010	1,375,453		11.87	5.2
Forfeited	(305,223	)	12.79
Granted	283,705		5.36
Outstanding April 30, 2011	1,353,935		10.30	5.7
Forfeited	(268,784	)	10.94
Granted	268,322		3.97
Outstanding April 30, 2012	1,353,473		8.92	6.1

Exercisable April 30, 2012	789,473		11.26	4.6

There was no intrinsic value of outstanding and exercisable options as of April 30, 2012, as the exercise price of the options exceeded the market price of the Company's common stock. As of April 30, 2012, approximately 564,000 additional options were expected to vest, which have no of intrinsic value and a weighted-average remaining contractual term of 8.1 years. There was $931,553 and $940,309 of total recognized compensation cost related to employees for stock options during the years ended April 30, 2012 and 2011, respectively. As of April 30, 2012, there was approximately $1,446,000 of total unrecognized compensation cost related to non-vested stock options granted under the plans. This cost is expected to be recognized over a weighted-average period of 2.9 years. The Company normally issues new shares to satisfy option exercises under these plans.

Certain options were granted to consultants during the years ended April 30, 2012 and 2011. The Company has charged compensation expense of $76,920 and $23,691 related to these option grants, which has been included in selling, general and administrative costs in the accompanying consolidated statements of operations for the years ended April 30, 2012 and 2011, respectively.

(b) Restricted Stock

Compensation expense for restricted stock is generally recorded based on its market value on the date of grant and recognized ratably over the associated service and performance period. There were 14,634 and 33,620 shares of restricted stock granted to employees and non-employee board members with service and/or performance-based vesting requirements during the years ended April 30, 2012 and 2011, respectively.

A summary of non-vested restricted stock under the plans is as follows:


			Weighted
			Average
	Number		Price per
	of Shares		Share

Issued and unvested at April 30, 2010	157,124		6.35
Granted	33,620		5.32
Forfeited	(5,000	)	6.40
Vested	(34,791	)	6.17
Issued and unvested at April 30, 2011	150,953		6.16
Granted	14,634		3.86
Forfeited	(26,428	)	5.93
Vested	(45,319	)	6.18
Issued and unvested at April 30, 2012	93,840		5.86

There was $99,658 and $476,789 of total recognized compensation cost relating to restricted stock granted to employees during the years ended April 30, 2012 and 2011, respectively. Certain shares of restricted stock were granted to non-employee directors during the years ended April 30, 2012 and 2011, respectively. The Company recorded compensation expenses of $13,385 and $7,497 in 2012 and 2011, respectively. As of April 30, 2012, there was approximately $134,000 of total unrecognized compensation cost related to non-vested restricted stock granted under the plans. This cost is expected to be recognized over a weighted-average period of 2 years.

(c) Treasury Stock

During the years ended April 30, 2012 and 2011, 15,859 and 6,613 shares of common stock, respectively, were purchased by the Company from employees to pay taxes related to the vesting of restricted stock.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income Taxes

12 Months Ended

Apr. 30, 2012

Income Taxes [Abstract]

Income Taxes

(12) Income Taxes

Tax Rate Reconciliation

The effective income tax rate differed from the percentages computed by applying the US federal income tax rate of 34% to loss before income taxes as a result of the following:


	Years Ended April 30,
	2012		2011

Computed "expected" tax benefit	(34	)%		(34	)%
Increase (reduction) in income taxes resulting from:
State income taxes, net of federal benefit	(5	)		(5	)
Stock-based compensation expense	2			1
Federal research and development tax credits	(2	)		(2	)
Foreign rate differential	2			1
Other non-deductible expenses	2			1
Other	6			3
Increase in valuation allowance	23			33

Income tax benefit	(6	)%		(2	)%

Significant Components of Deferred Taxes

The tax effects of temporary differences and carryforwards that give rise to the Company's deferred tax assets and deferred tax liabilities are presented below.


		April 30,
		2012		2011

Deferred tax assets:
Federal net operating loss carryforwards	$	27,788,000		23,978,000
Foreign net operating loss carryforwards		4,875,000		4,905,000
New Jersey state operating loss carryforwards		3,567,000		3,587,000
Federal research and development tax credits		2,149,000		1,914,000
Foreign research and development tax credits		715,000		731,000
Stock compensation		2,548,000		2,548,000
Capitalized research and development costs, net of amortization		676,000		766,000
Unrealized foreign exchange loss		291,000		333,000
Accrued expenses		726,000		737,000
Other		342,000		407,000

Gross deferred tax assets		43,677,000		39,906,000

Valuation allowance		(43,677,000	)	(39,906,000	)

Net deferred tax assets	$	-		-

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences and carryforwards become deductible or are utilized. As of April 30, 2012 and 2011, based upon the level of historical taxable losses, valuation allowances of $43,677,000 and $39,906,000, respectively, were recorded to fully offset deferred tax assets. The valuation allowance increased $3,771,000 and $6,807,000 during the years ended April 30, 2012 and 2011, respectively.

As of April 30, 2012, the Company had net operating loss carryforwards for federal income tax purposes of approximately $81,700,000, which begin to expire in 2013. The Company also had federal research and experimental tax credit carryforwards of approximately $2,149,000 as of April 30, 2012, which begin to expire in 2013. The Tax Reform Act of 1986 contains provisions that limit the utilization of net operating loss and tax credit carryforwards if there has been an ownership change, as defined. The Company has determined that such an ownership change, as described in Section 382 of the Internal Revenue Code, occurred in conjunction with the Company's US initial public offering in April 2007. The Company's annual Section 382 limitation is approximately $3,300,000. The Section 382 limitation is cumulative from year to year, and thus, to the extent net operating loss or other credit carryforwards are not utilized up to the amount of the available annual limitation, the limitation is carried forward and added to the following year's available limitation. The Company has not performed additional analysis on ownership changes that may have occurred subsequently to further limit the ability to utilize net tax attributes. As of April 30, 2012, the Company had state net operating loss carryforwards of approximately $57,700,000, which begin to expire in 2026, which also may be limited to utilization limitations. As of April 30, 2012, the Company had foreign net operating loss carryforwards of approximately $18,300,000, which begin to expire in 2024. The ability to utilize these carryforwards may also be limited in the event of a historic ownership change.

During the years ended April 30, 2012 and 2011, the Company sold New Jersey State net operating losses in the amount of $12,862,000 and $4,446,000, respectively, resulting in the recognition of income tax benefits of $1,053,427 and $364,105, respectively, recorded in the Company's Statement of Operations.

The Company applies the guidance issued by the FASB for the accounting and reporting of uncertain tax positions. The guidance requires the Company to recognize in its consolidated financial statements the impact of a tax position if that position is more likely than not to be sustained upon examination, based on the technical merits of the position. At April 30, 2012 and 2011, the Company had no unrecognized tax positions. The Company does not expect any material increase or decrease in its income tax expense in the next twelve months, related to examinations or uncertain tax positions. US federal and state income tax returns were audited through fiscal 2007 and fiscal 2010, respectively. Net operating loss and credit carryforwards since inception remain open to examination by taxing authorities, and will continue to remain open for a period of time after utilization.

The Company does not have any interest or penalties accrued related to uncertain tax positions as it does not have any unrecognized tax benefits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Commitments And Contingencies	12 Months Ended
Commitments And Contingencies	Apr. 30, 2012
Commitments And Contingencies [Abstract]
Commitments And Contingencies	(13) Commitments and Contingencies *(a) Operating Lease Commitments* The Company leases office, laboratory, manufacturing and other space in Pennington, New Jersey and Warwick, United Kingdom, under operating leases that expire on various dates through April 30, 2013. Rent expense under operating leases was approximately $507,000 and $525,000 for the years ended April 30, 2012 and 2011, respectively. The Company's operating leases expire within one year and future minimum lease payments under these leases as of April 30, 2012 are $276,000. *(b) Litigation* The Company is involved from time to time in certain legal actions arising in the ordinary course of business. Management believes that the outcome of such actions will not have a material adverse effect on the Company's financial position or results of operations. *(c) 2006 Spain Construction Agreement* The Company is currently engaged in discussions with Iberdrola Cantabria (see Note 2(a)) regarding modifications to its agreement for the first phase of the construction of a wave power station off the coast of Spain. This phase was due to be completed by December 31, 2009. If no modification is agreed to by the parties, the customer may, subject to certain conditions in the agreement, terminate the agreement and would not be obligated to make any more milestone payments. The agreement also provides that the customer may seek reimbursement for direct damages only, limited to amounts specified in the agreement, if the Company is in default of its obligations under the agreement. As of April 30, 2012, the Company does not believe that the outcome of this matter will have a material adverse effect on the Company's financial position or results of operations.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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-Paragraph 1
-Subparagraph (SX 210.5-02.25)
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-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Operating Segments And Geographic Information

12 Months Ended

Apr. 30, 2012

Operating Segments And Geographic Information [Abstract]

Operating Segments And Geographic Information

(14) Operating Segments and Geographic Information

The Company's business consists of one segment as this represents management's view of the Company's operations. The Company operates on a worldwide basis with one operating company in the US and operating subsidiaries in the UK and in Australia. Revenues and expenses are generally attributed to the operating unit that bills the customers.

Geographic information is as follows:


				Year Ended April 30, 2012
						Asia and
		North America		Europe		Australia		Total
Revenues from external customers	$	4,603,652		1,134,854		—		5,738,506
Operating loss		(14,432,825	)	(1,672,636	)	(451,284	)	(16,556,745	)
Long-lived assets		585,818		97,115		—		682,933
Total assets		35,181,637		1,619,973		640,027		37,441,637


				Year Ended April 30, 2011
						Asia and
		North America		Europe		Australia		Total
Revenues from external customers	$	5,609,789		853,939		227,354		6,691,082
Operating loss		(19,443,565	)	(1,676,354	)	(162,871	)	(21,282,790	)
Long-lived assets		619,861		172,231		—		792,092
Total assets		47,697,028		4,935,922		919,628		53,552,578

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details