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Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.1
Property and Equipment
9 Months Ended
Jan. 31, 2020
Property, Plant and Equipment [Abstract] Ìý
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:
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:
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:
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:
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