Aspen Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Apr. 30, 2014

Property and Equipment [Abstract]

Property and Equipment

Note 5. Property and Equipment

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


	April 30,			April 30,
	2014			2013

Call center	$	122,653		$	121,313
Computer and office equipment		66,118			61,036
Furniture and fixtures		36,446			32,914
Library (online)		100,000			100,000
Software		1,894,215			1,518,142
		2,219,432			1,833,405
Accumulated depreciation and amortization		(938,703	)		(569,665	)
Property and equipment, net	$	1,280,729		$	1,263,740

Depreciation expense for the years ended April 30, 2014, and December 31, 2012, and four months ended April 30, 2013 and 2012, were $369,039, $256,363, $113,794, and $ 73,718 respectively. Accumulated depreciation amounted to $938,703 and $569,665 as of April 30, 2014 and April 30, 2013 respectively. Amortization expense for software, included in the above amounts, for the years ended April 30, 2014, and December 31, 2012, and four months ended April 30, 2013 and 2012, were $334,224, $226,454, $99,855, and $64,192 respectively. Software consisted of the following at April 30, 2014 and April 30, 2013:


	April 30,			April 30,
	2014			2013

Software	$	1,894,215		$	1,518,142
Accumulated amortization		(720,823	)		(386,599	)
Software, net	$	1,173,392		$	1,131,543

Estimated amortization expense of software is as follows:


Year Ending April 30,
2015	$	378,843
2016		377,977
2017		255,265
2018		122,230
2019		39,077
Total	$	1,173,392