Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
6 Months Ended
Oct. 31, 2020
Leases [Abstract]  
Schedule of Right-of-Use Assets and Operating Lease Liabilities ROU assets is summarized below:
October 31, 2020
Operating office leases $ 13,124,796 
Less accumulated reduction (5,315,307)
Balance of ROU assets as of October 31, 2020 $ 7,809,489 
Operating lease obligations, related to the ROU assets is summarized below:
October 31, 2020
Operating office leases $ 14,108,820 
Total lease liabilities 14,108,820 
Reduction of lease liabilities (5,343,595)
Total as of October 31, 2020 $ 8,765,225 
Future Minimum Payments Under Operating Leases
The following is a schedule by fiscal years of future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of October 31, 2020 (a).
Maturity of Lease Obligations Lease Payments
2021 (remaining) $ 1,311,675 
2022 2,488,590 
2023 1,862,992 
2024 1,631,102 
2025 1,303,970 
2026 and beyond 4,075,303 
Total future minimum lease payments 12,673,632 
Less imputed interest (3,908,407)
Present value of operating lease obligations $ 8,765,225 
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(a) Lease payments exclude legally binding minimum lease payments for campus leases signed but not yet commenced for the following locations: $10.2 million in Tampa, Florida, $3.9 million in Phoenix, Arizona, and $4.3 million in Austin, Texas.
Schedule of Balance Sheet Information Related to Leases
Balance Sheet Classification
Operating lease obligations, current $ 1,670,277 
Operating lease obligations, long-term 7,094,948 
Total operating lease obligations $ 8,765,225 
Schedule of Other Information Related to Leases
Other Information
Weighted average remaining lease term (in years) 6.29
Weighted average discount rate 12.00  %