Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.20.2
Property and Equipment (Tables)
3 Months Ended
Jul. 31, 2020
Property, Plant and Equipment [Line Items]  
Property and Equipment
Property and equipment consisted of the following at July 31, 2020 and April 30, 2020:
July 31,
2020
April 30,
2020
Computer equipment and hardware $ 690,114  $ 649,927 
Furniture and fixtures 1,007,099  1,007,099 
Leasehold improvements 892,279  867,024 
Instructional equipment 301,842  301,842 
Software 6,792,594  6,162,770 
9,683,928  8,988,662 
Accumulated depreciation and amortization (3,314,448) (2,841,019)
Property and equipment, net $ 6,369,480  $ 6,147,643 
Depreciation and Amortization Expense
Depreciation and amortization expense for property and equipment as well as the portion for just software amortization is presented below for the three months ended July 31, 2020 and 2019:
Three Months Ended
July 31,
2020 2019
Depreciation and amortization expense $ 478,677  $ 312,432 
Software amortization expense $ 315,107  $ 170,189 
Software  
Property, Plant and Equipment [Line Items]  
Schedule of Software
Software consisted of the following at July 31, 2020 and April 30, 2020:
July 31,
2020
April 30,
2020
Software $ 6,792,594  $ 6,162,770 
Accumulated amortization (2,365,847) (2,049,809)
Software, net $ 4,426,747  $ 4,112,961 
Future Amortization Expense
The following is a schedule of estimated future amortization expense of software at July 31, 2020 (by fiscal year):
Future Expense
2021 (remaining) $ 977,172 
2022 1,223,745 
2023 1,062,864 
2024 775,078 
2025 363,858 
Thereafter 24,030 
Total $ 4,426,747