Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
 9 Months Ended
Jan. 31, 2021
Leases [Abstract]  
Schedule of Right-of-Use Assets and Operating Lease Liabilities
ROU assets is summarized below:
January 31, 2021
Operating office leases $ 16,659,886 
Less accumulated reduction (5,545,120)
Total ROU assets $ 11,114,766 

Operating lease obligations, related to the ROU assets is summarized below:
January 31, 2021
Operating office leases $ 17,673,056 
Total lease liabilities 17,673,056 
Reduction of lease liabilities (5,602,554)
Total operating lease obligations $ 12,070,502 
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 January 31, 2021 (a).
Maturity of Lease Obligations Lease Payments
2021 (remaining) $ 801,080 
2022 3,484,232 
2023 2,867,030 
2024 2,666,619 
2025 2,371,491 
2026 and beyond 9,286,125 
Total future minimum lease payments 21,476,577 
Less imputed interest (9,406,075)
Present value of operating lease obligations $ 12,070,502 
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(a) Lease payments exclude legally binding minimum lease payments for campus leases signed but not yet commenced for the following locations: $5.2 million remaining in Tampa, Florida and $3.9 million in Phoenix, Arizona.
Schedule of Balance Sheet Information Related to Leases
Balance Sheet Classification
Operating lease obligations, current $ 2,102,209 
Operating lease obligations, long-term 9,968,293 
Total operating lease obligations $ 12,070,502 
Schedule of Other Information Related to Leases
Other Information
Weighted average remaining lease term (in years) 7.24
Weighted average discount rate 12.00  %