Property and Equipment (Tables)
|
3 Months Ended |
Jul. 31, 2020 |
|---|
| Property, Plant and Equipment [Line Items] |
|
| Property and Equipment |
Property and equipment consisted of the following at July 31, 2020 and April 30, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
July 31,
2020 |
|
April 30,
2020 |
| Computer equipment and hardware |
$ |
690,114
|
|
|
$ |
649,927
|
|
| Furniture and fixtures |
1,007,099
|
|
|
1,007,099
|
|
| Leasehold improvements |
892,279
|
|
|
867,024
|
|
| Instructional equipment |
301,842
|
|
|
301,842
|
|
| Software |
6,792,594
|
|
|
6,162,770
|
|
|
9,683,928
|
|
|
8,988,662
|
|
| Accumulated depreciation and amortization |
(3,314,448) |
|
|
(2,841,019) |
|
| Property and equipment, net |
$ |
6,369,480
|
|
|
$ |
6,147,643
|
|
|
| Depreciation and Amortization Expense |
Depreciation and amortization expense for property and equipment as well as the portion for just software amortization is presented below for the three months ended July 31, 2020 and 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
July 31, |
|
|
|
2020 |
|
2019 |
| Depreciation and amortization expense |
$ |
478,677
|
|
|
$ |
312,432
|
|
|
|
|
|
| Software amortization expense |
$ |
315,107
|
|
|
$ |
170,189
|
|
|
| Software |
|
| Property, Plant and Equipment [Line Items] |
|
| Schedule of Software |
Software consisted of the following at July 31, 2020 and April 30, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
July 31,
2020 |
|
April 30,
2020 |
| Software |
$ |
6,792,594
|
|
|
$ |
6,162,770
|
|
| Accumulated amortization |
(2,365,847) |
|
|
(2,049,809) |
|
| Software, net |
$ |
4,426,747
|
|
|
$ |
4,112,961
|
|
|
| Future Amortization Expense |
The following is a schedule of estimated future amortization expense of software at July 31, 2020 (by fiscal year):
|
|
|
|
|
|
|
|
|
|
|
Future Expense |
| 2021 (remaining) |
|
$ |
977,172
|
|
| 2022 |
|
1,223,745
|
|
| 2023 |
|
1,062,864
|
|
| 2024 |
|
775,078
|
|
| 2025 |
|
363,858
|
|
| Thereafter |
|
24,030
|
|
| Total |
|
$ |
4,426,747
|
|
|