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Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.2
Property and Equipment
3 Months Ended
Jul. 31, 2019
Property and equipment: Ìý
Property and Equipment

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:


Ìý

Ìý

July 31,

Ìý

Ìý

April 30,

Ìý

Ìý

Ìý

2019

Ìý

Ìý

2019

Ìý

Call center hardware

Ìý

$

245,715

Ìý

Ìý

$

193,774

Ìý

Computer and office equipment

Ìý

Ìý

330,267

Ìý

Ìý

Ìý

327,621

Ìý

Furniture and fixtures

Ìý

Ìý

1,430,349

Ìý

Ìý

Ìý

1,381,271

Ìý

Software

Ìý

Ìý

4,765,597

Ìý

Ìý

Ìý

4,314,198

Ìý

Ìý

Ìý

Ìý

6,771,928

Ìý

Ìý

Ìý

6,216,864

Ìý

Accumulated depreciation

Ìý

Ìý

(2,083,277

)

Ìý

Ìý

(1,825,524

)

Property and equipment, net

Ìý

$

4,688,651

Ìý

Ìý

$

4,391,340

Ìý


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


Ìý

Ìý

July 31,

2019

Ìý

Ìý

April 30,

2019

Ìý

Software

Ìý

$

4,765,597

Ìý

Ìý

$

4,314,198

Ìý

Accumulated depreciation

Ìý

Ìý

(1,517,765

)

Ìý

Ìý

(1,351,193

)

Software, net

Ìý

$

3,247,832

Ìý

Ìý

$

2,963,005

Ìý


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:


Ìý

Ìý

Ìý

Ìý

Ìý

Three Months Ended

July 31,

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

2019

Ìý

Ìý

2018

Ìý

Depreciation and amortization Expense

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

$

312,432

Ìý

Ìý

$

204,335

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Software amortization Expense

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

$

170,189

Ìý

Ìý

$

143,774

Ìý

Ìý

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


Year Ending July 31,

Ìý

Future Expense

Ìý

2020

Ìý

$

689,009

Ìý

2021

Ìý

Ìý

854,804

Ìý

2022

Ìý

Ìý

765,330

Ìý

2023

Ìý

Ìý

605,091

Ìý

2024

Ìý

Ìý

315,809

Ìý

Thereafter

Ìý

Ìý

17,789

Ìý

Total

Ìý

$

3,247,832