| Property and Equipment |
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 JanuaryÌý31, 2020 and AprilÌý30, 2019:
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|
January 31,
2020 |
|
April 30,
2019 |
| Call center hardware |
$ |
305,766Ìý |
Ìý |
|
$ |
193,774Ìý |
Ìý |
| Computer and office equipment |
396,898Ìý |
Ìý |
|
327,621Ìý |
Ìý |
| Furniture and fixtures |
1,550,520Ìý |
Ìý |
|
1,381,271Ìý |
Ìý |
| Software |
5,725,500Ìý |
Ìý |
|
4,314,198Ìý |
Ìý |
|
7,978,684Ìý |
Ìý |
|
6,216,864Ìý |
Ìý |
| Accumulated depreciation |
(2,662,273) |
Ìý |
|
(1,825,524) |
Ìý |
| Property and equipment, net |
$ |
5,316,411Ìý |
Ìý |
|
$ |
4,391,340Ìý |
Ìý |
Software consisted of the following at JanuaryÌý31, 2020 and AprilÌý30, 2019:
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|
January 31,
2020 |
|
April 30,
2019 |
| Software |
$ |
5,725,500Ìý |
Ìý |
|
$ |
4,314,198Ìý |
Ìý |
| Accumulated depreciation |
(1,911,096) |
Ìý |
|
(1,351,193) |
Ìý |
| Software, net |
$ |
3,814,404Ìý |
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 nine months ended JanuaryÌý31, 2020 and 2019:
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Three Months Ended
January 31, |
|
|
|
Nine Months Ended
January 31, |
|
|
|
2020 |
|
2019 |
|
2020 |
|
2019 |
| Depreciation and amortization expense |
$ |
364,504Ìý |
Ìý |
|
$ |
263,045Ìý |
Ìý |
|
$ |
1,012,548Ìý |
Ìý |
|
$ |
703,886Ìý |
Ìý |
|
|
|
|
|
|
|
|
| Software amortization expense |
$ |
265,146Ìý |
Ìý |
|
$ |
178,459Ìý |
Ìý |
|
$ |
728,395Ìý |
Ìý |
|
$ |
482,153Ìý |
Ìý |
The following is a schedule of estimated future amortization expense of software at JanuaryÌý31, 2020:
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|
Future Expense |
| Remainder of 2020 |
|
$ |
278,959Ìý |
Ìý |
| 2021 |
|
1,069,707Ìý |
Ìý |
| 2022 |
|
980,233Ìý |
Ìý |
| 2023 |
|
819,994Ìý |
Ìý |
| 2024 |
|
530,712Ìý |
Ìý |
| Thereafter |
|
134,799Ìý |
Ìý |
| Total |
|
$ |
3,814,404Ìý |
Ìý |
|