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

9 Months Ended

Jan. 31, 2019

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 January 31, 2019 and April 30, 2018:


	January 31,			April 30,
	2019			2018
Call center hardware	$	173,077		$	140,509
Computer and office equipment		301,548			230,810
Furniture and fixtures		1,310,139			932,454
Software		3,869,750			2,878,753
		5,654,514			4,182,526
Accumulated depreciation		(1,622,908	)		(1,320,360	)
Property and equipment, net	$	4,031,606		$	2,862,166

Software consisted of the following at January 31, 2019 and April 30, 2018:


	January 31,			April 30,
	2019			2018
Software	$	3,869,750		$	2,878,753
Accumulated depreciation		(1,235,213	)		(1,146,008	)
Software, net	$	2,634,537		$	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 nine months ended January 31, 2019 and 2018:


	For the Three Months Ended				For the Nine Months Ended
	January 31,				January 31,
	2019		2018		2019		2018

Depreciation Expense	$	263,045	$	150,596	$	703,886	$	407,346

Software Depreciation Expense	$	178,459	$	121,695	$	482,153	$	341,825

The following is a schedule of estimated future amortization expense of software at January 31, 2019:


Year Ending April 30,
2019	$	192,572
2020		720,675
2021		648,229
2022		558,755
2023		398,514
Thereafter		115,792
Total	$	2,634,537