Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.20.4
Property and Equipment (Tables)
6 Months Ended
Oct. 31, 2020
Property, Plant and Equipment [Line Items]  
Property and Equipment
Property and equipment consisted of the following at October 31, 2020 and April 30, 2020:
October 31,
2020
April 30,
2020
Computer equipment and hardware $ 755,972  $ 649,927 
Furniture and fixtures 1,013,103  1,007,099 
Leasehold improvements 920,736  867,024 
Instructional equipment 315,993  301,842 
Software 7,373,655  6,162,770 
Construction in Progress 878,263  — 
11,257,722  8,988,662 
Accumulated depreciation and amortization (3,830,290) (2,841,019)
Property and equipment, net $ 7,427,432  $ 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 and six months ended October 31, 2020 and 2019:
Three Months Ended
October 31,
Six Months Ended
October 31,
2020 2019 2020 2019
Depreciation and amortization expense $ 515,841  $ 332,212  $ 994,518  $ 648,740 
Software amortization expense $ 346,653  $ 242,797  $ 661,760  $ 463,250 
Software  
Property, Plant and Equipment [Line Items]  
Schedule of Software
Software consisted of the following at October 31, 2020 and April 30, 2020:
October 31,
2020
April 30,
2020
Software $ 7,373,655  $ 6,162,770 
Accumulated amortization (2,711,305) (2,049,809)
Software, net $ 4,662,350  $ 4,112,961 
Future Amortization Expense
The following is a schedule of estimated future amortization expense of software at October 31, 2020 (by fiscal year):
Future Expense
2021 (remaining) $ 698,932 
2022 1,338,300 
2023 1,177,419 
2024 889,634 
2025 479,929 
Thereafter 78,136 
Total $ 4,662,350