| Property and Equipment |
Property and EquipmentAs 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 OctoberÌý31, 2019 and AprilÌý30, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
October 31,
2019 |
|
April 30,
2019 |
| Call center hardware |
$ |
270,010Ìý |
Ìý |
|
$ |
193,774Ìý |
Ìý |
| Computer and office equipment |
345,241Ìý |
Ìý |
|
327,621Ìý |
Ìý |
| Furniture and fixtures |
1,484,930Ìý |
Ìý |
|
1,381,271Ìý |
Ìý |
| Software |
5,178,944Ìý |
Ìý |
|
4,314,198Ìý |
Ìý |
|
7,279,125Ìý |
Ìý |
|
6,216,864Ìý |
Ìý |
| Accumulated depreciation |
(2,296,365) |
Ìý |
|
(1,825,524) |
Ìý |
| Property and equipment, net |
$ |
4,982,760Ìý |
Ìý |
|
$ |
4,391,340Ìý |
Ìý |
Software consisted of the following at OctoberÌý31, 2019 and AprilÌý30, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
October 31,
2019 |
|
April 30,
2019 |
| Software |
$ |
5,178,944Ìý |
Ìý |
|
$ |
4,314,198Ìý |
Ìý |
| Accumulated depreciation |
(1,645,950) |
Ìý |
|
(1,351,193) |
Ìý |
| Software, net |
$ |
3,532,994Ìý |
Ìý |
|
$ |
2,963,005Ìý |
Ìý |
Depreciation expense and amortization for all Property and Equipment as well as the portion for just software is presented below for the three and six months ended OctoberÌý31, 2019 and 2018:
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|
|
|
|
|
|
|
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|
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|
|
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|
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|
Three Months Ended
October 31, |
|
|
|
Six Months Ended
October 31, |
|
|
|
2019 |
|
2018 |
|
2019 |
|
2018 |
| Depreciation and amortization expense |
$ |
332,212Ìý |
Ìý |
|
$ |
233,109Ìý |
Ìý |
|
$ |
648,740Ìý |
Ìý |
|
$ |
440,841Ìý |
Ìý |
|
|
|
|
|
|
|
|
| Software amortization expense |
$ |
242,797Ìý |
Ìý |
|
$ |
160,666Ìý |
Ìý |
|
$ |
463,250Ìý |
Ìý |
|
$ |
304,440Ìý |
Ìý |
The following is a schedule of estimated future amortization expense of software at OctoberÌý31, 2019:
|
|
|
|
|
|
|
|
|
|
|
Future Expense |
| 2020 |
|
$ |
507,808Ìý |
Ìý |
| 2021 |
|
960,396Ìý |
Ìý |
| 2022 |
|
870,922Ìý |
Ìý |
| 2023 |
|
710,683Ìý |
Ìý |
| 2024 |
|
421,401Ìý |
Ìý |
| Thereafter |
|
61,784Ìý |
Ìý |
| Total |
|
$ |
3,532,994Ìý |
Ìý |
|