Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.20.2
Property and Equipment
 12 Months Ended
Apr. 30, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
As property and equipment reach the end of their useful lives, the fully expired assets are written off against the associated accumulated depreciation and amortization. There is no expense impact for such write offs.
Property and equipment consisted of the following at April 30, 2020 and April 30, 2019:
April 30,
2020 2019
Computer equipment and hardware $ 649,927    $ 521,395   
Furniture and fixtures 1,007,099    915,936   
Leasehold improvements 867,024    204,545   
Instructional equipment 301,842    260,790   
Software
 6,162,770    4,314,198   
8,988,662    6,216,864   
Accumulated depreciation and amortization (2,841,019)   (1,825,524)  
Property and equipment, net
 $ 6,147,643    $ 4,391,340   
Software consisted of the following at April 30, 2020 and 2019:
April 30,
2020 2019
Software
 $ 6,162,770    $ 4,314,198   
Accumulated amortization (2,049,809)   (1,351,193)  
Software, net
 $ 4,112,961    $ 2,963,005   
Depreciation and amortization expense for all Property and Equipment as well as the portion for just software is presented below for the years ended April 30, 2020 and 2019:
Years Ended April 30,
2020 2019
Depreciation and amortization expense $ 1,497,470    $ 1,002,347   
Software amortization expense $ 1,013,466    $ 684,871   
The following is a schedule of estimated future amortization expense of software at April 30, 2020:
Year Ending April 30,
2021 $ 1,203,497   
2022 1,109,903   
2023 942,271   
2024 639,618   
Thereafter 217,672   
Total $ 4,112,961