Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.0.1
Leases (Tables)
9 Months Ended
Jan. 31, 2022
Leases [Abstract]  
Schedule of Right-of-Use Assets and Operating Lease Liabilities
ROU assets are summarized below:
January 31, 2022 April 30, 2021
ROU assets - Operating facility leases $ 15,958,721  $ 14,308,296 
Less: accumulated amortization (2,868,251) (1,593,433)
Total ROU assets $ 13,090,470  $ 12,714,863 

Operating lease obligations, related to the ROU assets are summarized below:
January 31, 2022 April 30, 2021
Total lease liabilities $ 22,509,568  $ 19,946,229 
Reduction of lease liabilities (3,085,191) (1,617,600)
Total operating lease obligations $ 19,424,377  $ 18,328,629 
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 January 31, 2022 (a) (by fiscal year).
Maturity of Lease Obligations Lease Payments
2022 (remaining) $ 1,139,587 
2023 4,142,637 
2024 4,018,977 
2025 3,802,960 
2026 3,908,722 
Thereafter 11,963,226 
Total future minimum lease payments 28,976,109 
    Less: imputed interest (9,551,732)
Present value of operating lease liabilities $ 19,424,377 
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(a) Lease payments exclude $3.7 million of legally binding minimum lease payments for the new BSN Pre-Licensure campus location in Atlanta, Georgia for the lease signed but not yet commenced.
Schedule of Balance Sheet Information Related to Leases
Balance Sheet Classification January 31, 2022 April 30, 2021
Operating lease obligations, current portion $ 2,106,981  $ 2,029,821 
Operating lease obligations, less current portion 17,317,396  16,298,808 
Total operating lease liabilities $ 19,424,377  $ 18,328,629 
Schedule of Other Information Related to Leases
Other Information January 31, 2022
Weighted average remaining lease term (in years) 6.97
Weighted average discount rate 12  %