Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.8.0.1
Property and Equipment
6 Months Ended
Oct. 31, 2017
Property and equipment:  
Property and Equipment

Note 3. Property and Equipment


Property and equipment consisted of the following at October 31, 2017 and April 30, 2017:


 

 

October 31,

 

 

April 30,

 

 

 

2017

 

 

2017

 

Call center hardware

 

$

82,606

 

 

$

53,748

 

Computer and office equipment

 

 

105,717

 

 

 

103,649

 

Furniture and fixtures

 

 

282,932

 

 

 

255,984

 

Software

 

 

2,459,932

 

 

 

2,131,344

 

 

 

 

2,931,187

 

 

 

2,544,725

 

Accumulated depreciation and amortization

 

 

(1,192,350

)

 

 

(1,090,010

)

Property and equipment, net

 

$

1,738,837

 

 

$

1,454,715

 


Software consisted of the following at October 31, 2017 and April 30, 2017:


 

 

October 31,

 

 

April 30,

 

 

 

2017

 

 

2016

 

Software

 

$

2,459,932

 

 

$

2,131,344

 

Accumulated amortization

 

 

(1,065,740

)

 

 

(994,017

)

Software, net

 

$

1,394,192

 

 

$

1,137,327

 


Depreciation and Amortization expense for all Property and Equipment as well as the portion for just software is presented below for three and six months ended October 31, 2017 and 2016:


 

 

For the

 

 

For the

 

 

 

Three Months Ended

October 31,

 

 

Six Months Ended

October 31,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization Expense

 

$

131,669

 

 

$

123,906

 

 

$

256,751

 

 

$

259,054

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Software Amortization Expense

 

$

112,522

 

 

$

112,888

 

 

$

220,129

 

 

$

237,067

 


The following is a schedule of estimated future amortization expense of software at October 31, 2017:


Year Ending April 30,

 

 

 

2018

 

$

229,041

 

2019

 

 

395,009

 

2020

 

 

325,167

 

2021

 

 

252,660

 

2022

 

 

192,315

 

Total

 

$

1,394,192