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

9 Months Ended

Jan. 31, 2014

Property and Equipment [Abstract]

Property and Equipment

Note 4. Property and Equipment

Property and equipment consisted of the following at January 31, 2014 and April 30, 2013:


	January 31,			April 30,
	2014			2013
Call center equipment	$	122,653		$	121,313
Computer and office equipment		66,118			61,036
Furniture and fixtures		32,914			32,914
Library (online)		100,000			100,000
Software		1,809,860			1,518,142
		2,131,545			1,833,405
Accumulated depreciation and amortization		(837,427	)		(569,665	)
Property and equipment, net	$	1,294,118		$	1,263,740

Depreciation and amortization expense for the three months ended January 31, 2014 and 2013 was $96,879 and $77,484, respectively. Depreciation and amortization expense for the nine months ended January 31, 2014 and 2013 was $267,763 and $211,004 respectively.

Amortization expense for software, included in the above amounts, for the three months ended January 31 2014, and 2013 was $87,610 and $68,676, respectively. Amortization expense for software, included in the above amounts, for the nine months ended January 31, 2014 and 2013 was $242,259 and $186,466, respectively. Software consisted of the following at January 31, 2014 and April 30, 2013:


	January 31,			April 30,
	2014			2013
Software	$	1,809,860		$	1,518,142
Accumulated amortization		(628,858	)		(386,599	)
Software, net	$	1,181,002		$	1,131,543

The following is a schedule of estimated future amortization expense of software at January 31, 2014:


Year Ending April 30,
2014	$	90,493
2015		361,972
2016		361,126
2017		238,394
2018		129,017
Total	$	1,181,002