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Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.20.4
Property and Equipment (Tables)
6 Months Ended
Oct. 31, 2020
Property, Plant and Equipment [Line Items] Ìý
Property and Equipment
Property and equipment consisted of the following at OctoberÌý31, 2020 and AprilÌý30, 2020:
October 31,
2020
April 30,
2020
Computer equipment and hardware $ 755,972Ìý $ 649,927Ìý
Furniture and fixtures 1,013,103Ìý 1,007,099Ìý
Leasehold improvements 920,736Ìý 867,024Ìý
Instructional equipment 315,993Ìý 301,842Ìý
Software 7,373,655Ìý 6,162,770Ìý
Construction in Progress 878,263Ìý —Ìý
11,257,722Ìý 8,988,662Ìý
Accumulated depreciation and amortization (3,830,290) (2,841,019)
Property and equipment, net $ 7,427,432Ìý $ 6,147,643Ìý
Depreciation and Amortization Expense
Depreciation and amortization expense for property and equipment as well as the portion for just software amortization is presented below for the three and six months ended OctoberÌý31, 2020 and 2019:
Three Months Ended
October 31,
Six Months Ended
October 31,
2020 2019 2020 2019
Depreciation and amortization expense $ 515,841Ìý $ 332,212Ìý $ 994,518Ìý $ 648,740Ìý
Software amortization expense $ 346,653Ìý $ 242,797Ìý $ 661,760Ìý $ 463,250Ìý
Software Ìý
Property, Plant and Equipment [Line Items] Ìý
Schedule of Software
Software consisted of the following at OctoberÌý31, 2020 and AprilÌý30, 2020:
October 31,
2020
April 30,
2020
Software $ 7,373,655Ìý $ 6,162,770Ìý
Accumulated amortization (2,711,305) (2,049,809)
Software, net $ 4,662,350Ìý $ 4,112,961Ìý
Future Amortization Expense
The following is a schedule of estimated future amortization expense of software at OctoberÌý31, 2020 (by fiscal year):
Future Expense
2021 (remaining) $ 698,932Ìý
2022 1,338,300Ìý
2023 1,177,419Ìý
2024 889,634Ìý
2025 479,929Ìý
Thereafter 78,136Ìý
Total $ 4,662,350Ìý