Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
 3 Months Ended
Jul. 31, 2020
Lessee Disclosure [Abstract]  
Schedule of Right-of-Use Assets and Operating Lease Liabilities
ROU assets is summarized below:
July 31, 2020
Operating office leases $ 12,356,837 
Less accumulated reduction (5,092,253)
Balance of ROU assets as of July 31, 2020 $ 7,264,584 
Operating lease obligations, related to the ROU assets is summarized below:
July 31, 2020
Operating office leases $ 13,312,573 
Total lease liabilities 13,312,573 
Reduction of lease liabilities (5,092,253)
Total as of July 31, 2020 $ 8,220,320 
Future Minimum Payments Under Operating Leases
The following is a schedule by fiscal years of future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of July 31, 2020 (a).
Maturity of Lease Obligations Lease Payments
2021 (remaining) $ 1,809,774 
2022 2,253,619 
2023 1,703,419 
2024 1,466,758 
2025 1,134,718 
2026 and beyond 3,536,443 
Total future minimum lease payments 11,904,731 
Less imputed interest (3,684,411)
Present value of operating lease obligations $ 8,220,320 
_____________________(a) Lease payments exclude legally binding minimum lease payments for campus leases signed but not yet commenced for the following locations: $10.2 million in Tampa, Florida, $5.2 million in Phoenix, Arizona, and $4.3 million in Austin, Texas.
Schedule of Balance Sheet Information Related to Leases
Balance Sheet Classification
Operating lease obligations, current $ 1,542,754 
Operating lease obligations, long-term 6,677,566 
Total operating lease obligations $ 8,220,320 
Schedule of Other Information Related to Leases
Other Information
Weighted average remaining lease term (in years) 6.36
Weighted average discount rate 12.00  %