Aspen Group, Inc. Quarterly report pursuant to sections 13 or 15(d)

Quarterly report pursuant to sections 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Jul. 31, 2013

Property and Equipment [Abstract]

Property and Equipment

Note 4. Property and Equipment

Property and equipment consisted of the following at July 31, 2013 and April 30, 2013:


	July 31,			April 30,
	2013			2013
Call center equipment	$	121,313		$	121,313
Computer and office equipment		64,336			61,036
Furniture and fixtures		32,914			32,914
Library (online)		100,000			100,000
Software		1,619,226			1,518,142
		1,937,789			1,833,405
Accumulated depreciation and amortization		(648,629	)		(569,665	)
Property and equipment, net	$	1,289,160		$	1,263,740

Depreciation and amortization expense for the three months ended July 31, 2013 and July 31, 2012 was $78,694 and $62,994, respectively.

Amortization expense for software, included in the above amounts, for the three months ended July 31, 2013 and July 31, 2012 was $71,920 and $55,755, respectively. Software consisted of the following at July 31, 2013 and April 30, 2013:


	July 31,			April 30,
	2013			2013
Software	$	1,619,226		$	1,518,142
Accumulated amortization		(458,519	)		(386,599	)
Software, net	$	1,160,707		$	1,131,543

The following is a schedule of estimated future amortization expense of software at July 31, 2013:


Year Ending April 30,
2014	$	242,884
2015		323,845
2016		322,999
2017		200,267
2018		70,712
Total	$	1,160,707