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

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

6 Months Ended

Oct. 31, 2018

Note 3. Property and Equipment

As property and equipment reach the end of their useful lives, the fully expired asset is written off against the associated accumulated depreciation. There is no expense impact for such write offs. Property and equipment consisted of the following at October 31, 2018 and April 30, 2018:


	October 31,			April 30,
	2018			2018
Call center hardware	$	166,051		$	140,509
Computer and office equipment		294,419			230,810
Furniture and fixtures		1,271,536			932,454
Software		3,485,118			2,878,753
		5,217,124			4,182,526
Accumulated depreciation and amortization		(1,450,025	)		(1,320,360	)
Property and equipment, net	$	3,767,099		$	2,862,166

Software consisted of the following at October 31, 2018 and April 30, 2018:


	October 31,			April 30,
	2018			2018
Software	$	3,485,118		$	2,878,753
Accumulated depreciation		(1,147,662	)		(1,146,008	)
Software, net	$	2,337,456		$	1,732,745

Depreciation expense for all Property and Equipment as well as the portion for just software is presented below for the three and six months ended October 31, 2018 and 2017:


	For the				For the
	Three Months Ended October 31,				Six Months Ended October 31,
	2018		2017		2018		2017

Depreciation and Amortization Expense	$	233,109	$	131,669	$	440,841	$	256,751

Software Amortization Expense	$	160,666	$	112,522	$	304,440	$	220,129

The following is a schedule of estimated future amortization expense of software at October 31, 2018:


Year Ending April 30,
2019	$	339,823
2020		630,841
2021		553,378
2022		460,380
2023		300,139
Thereafter		52,895
Total	$	2,337,456