Leases (Tables)
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12 Months Ended |
Apr. 30, 2022 |
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| Leases [Abstract] |
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| Schedule of Right-of-Use Assets and Operating Lease Liabilities |
ROU assets are summarized below:
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April 30, |
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2022 |
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2021 |
| ROU assets - Operating facility leases |
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$ |
15,958,721 |
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$ |
14,308,296 |
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| Less: accumulated amortization |
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(3,312,771) |
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(1,593,433) |
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| Total ROU assets |
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$ |
12,645,950 |
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$ |
12,714,863 |
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Operating lease obligations, related to the ROU assets are summarized below:
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April 30, |
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2022 |
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2021 |
| Total lease liabilities |
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$ |
22,517,355 |
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$ |
19,946,229 |
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| Reduction of lease liabilities |
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(3,671,466) |
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(1,617,600) |
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| Total operating lease obligations |
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$ |
18,845,889 |
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$ |
18,328,629 |
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| Future Minimum Payments Under Operating Leases |
The following is a schedule by future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of April 30, 2022 (a) (by fiscal year).
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| Maturity of Lease Obligations |
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Lease Payments |
| 2023 |
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$ |
4,323,543 |
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| 2024 |
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4,021,638 |
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| 2025 |
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3,805,716 |
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| 2026 |
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3,911,083 |
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| 2027 |
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3,991,386 |
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| Thereafter |
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7,971,839 |
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| Total future minimum lease payments |
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28,025,205 |
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| Less: imputed interest |
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(9,179,316) |
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| Present value of operating lease liabilities |
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$ |
18,845,889 |
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____________________ (a) Lease payments exclude $3.7 million of legally binding minimum lease payments for the new BSN Pre-Licensure campus location in Atlanta, Georgia for its lease signed but not yet commenced.
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| Schedule of Balance Sheet Information Related to Leases |
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April 30, |
| Balance Sheet Classification |
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2022 |
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2021 |
| Operating lease obligations, current portion |
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$ |
2,036,570 |
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$ |
2,029,821 |
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| Operating lease obligations, less current portion |
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16,809,319 |
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16,298,808 |
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| Total operating lease obligations |
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$ |
18,845,889 |
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$ |
18,328,629 |
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| Schedule of Other Information Related to Leases |
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April 30, |
| Other Information |
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2022 |
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2021 |
| Weighted average remaining lease term (in years) |
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6.81 |
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7.46 |
| Weighted average discount rate |
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12 |
% |
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12 |
% |
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