Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
 9 Months Ended
Jan. 31, 2020
Lessee Disclosure [Abstract]  
Future Minimum Payments Under Operating Leases
The following is a schedule by years of future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of January 31, 2020 (a).
Maturity of Lease Obligations Lease Payments
2020 (remaining) $ 593,925   
2021    2,383,783   
2022    2,225,348   
2023    1,663,434   
2024    1,474,175   
2025    1,134,718   
2026 and beyond 779,287   
Total future minimum lease payments 10,254,670   
Less imputed interest (2,561,402)  
Present value of operating lease obligations $ 7,693,268   
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(a) Lease payments exclude $4.3 million of legally binding minimum lease payments for the new Aspen University BSN Pre-Licensure campus location in Austin, Texas lease signed but not yet commenced. Prior to commencing its Austin campus operations, Aspen is required to obtain approvals from the Texas Board of Nursing, the Texas Higher Education Coordinating Board, and the Texas Workforce Commission.
Schedule of Balance Sheet Information Related to Leases
Balance Sheet Classification
Operating lease obligations, current $ 1,649,934   
Operating lease obligations, long-term 6,043,334   
Total operating lease obligations $ 7,693,268   
Schedule of Other Information Related to Leases
Other Information
Weighted average remaining lease term (in years) 4.9
Weighted average discount rate 12.06  %