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

3 Months Ended

Jul. 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 July 31, 2019 and April 30, 2019:


	July 31,			April 30,
	2019			2019
Call center hardware	$	245,715		$	193,774
Computer and office equipment		330,267			327,621
Furniture and fixtures		1,430,349			1,381,271
Software		4,765,597			4,314,198
		6,771,928			6,216,864
Accumulated depreciation		(2,083,277	)		(1,825,524	)
Property and equipment, net	$	4,688,651		$	4,391,340

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


	July 31, 2019			April 30, 2019
Software	$	4,765,597		$	4,314,198
Accumulated depreciation		(1,517,765	)		(1,351,193	)
Software, net	$	3,247,832		$	2,963,005

Depreciation expense and amortization for all Property and Equipment as well as the portion for just software is presented below for the three months ended July 31, 2019 and 2018:


	Three Months Ended July 31,
	2019		2018
Depreciation and amortization Expense	$	312,432	$	204,335

Software amortization Expense	$	170,189	$	143,774

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


Year Ending July 31,	Future Expense
2020	$	689,009
2021		854,804
2022		765,330
2023		605,091
2024		315,809
Thereafter		17,789
Total	$	3,247,832