Aspen Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Apr. 30, 2019

Note 4. Property and Equipment

As property and equipment reach the end of their useful lives, the fully expired asset is written off against the associated accumulated depreciation. There is no expense impact for such write offs. Property and equipment consisted of the following at April 30, 2019 and April 30, 2018:


	For the Years Ended April 30,
	2019			2018
Call center hardware	$	193,774		$	140,509
Computer and office equipment		327,621			230,810
Furniture and fixtures		1,381,271			932,454
Software		4,314,198			2,878,753
		6,216,864			4,182,526
Accumulated depreciation		(1,825,524	)		(1,320,360	)
Property and equipment, net	$	4,391,340		$	2,862,166

Software consisted of the following at April 30, 2019 and 2018:


	For the Years Ended April 30,
	2019			2018
Software	$	4,314,198		$	2,878,753
Accumulated depreciation		(1,351,193	)		(1,146,008	)
Software, net	$	2,963,005		$	1,732,745

Depreciation expense and amortization for all Property and Equipment as well as the portion for just software is presented below for the years ended April 30, 2019 and 2018:


	For the
	Years Ended April 30,
	2019		2018
Depreciation and amortization Expense	$	1,002,347	$	578,244

Software amortization Expense	$	684,871	$	475,178

The following is a schedule of estimated future amortization expense of software at April 30, 2019:


Year Ending April 30,
2020	$	826,918
2021		754,471
2022		664,998
2023		504,758
Thereafter		211,860
Total	$	2,963,005