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Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.2
Leases (Tables)
12 Months Ended
Apr. 30, 2022
Leases [Abstract] Ìý
Schedule of Right-of-Use Assets and Operating Lease Liabilities
ROU assets are summarized below:
April 30,
2022 2021
ROU assets - Operating facility leases $ 15,958,721Ìý $ 14,308,296Ìý
Less: accumulated amortization (3,312,771) (1,593,433)
Total ROU assets $ 12,645,950Ìý $ 12,714,863Ìý

Operating lease obligations, related to the ROU assets are summarized below:
April 30,
2022 2021
Total lease liabilities $ 22,517,355Ìý $ 19,946,229Ìý
Reduction of lease liabilities (3,671,466) (1,617,600)
Total operating lease obligations $ 18,845,889Ìý $ 18,328,629Ìý
Future Minimum Payments Under Operating Leases
The following is a schedule by future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of AprilÌý30, 2022 (a) (by fiscal year).
Maturity of Lease Obligations Lease Payments
2023 $ 4,323,543Ìý
2024 4,021,638Ìý
2025 3,805,716Ìý
2026 3,911,083Ìý
2027 3,991,386Ìý
Thereafter 7,971,839Ìý
Total future minimum lease payments 28,025,205Ìý
Less: imputed interest (9,179,316)
Present value of operating lease liabilities $ 18,845,889Ìý
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(a) Lease payments exclude $3.7Ìýmillion of legally binding minimum lease payments for the new BSN Pre-Licensure campus location in Atlanta, Georgia for its lease signed but not yet commenced.
Schedule of Balance Sheet Information Related to Leases
April 30,
Balance Sheet Classification 2022 2021
Operating lease obligations, current portion $ 2,036,570Ìý $ 2,029,821Ìý
Operating lease obligations, less current portion 16,809,319Ìý 16,298,808Ìý
Total operating lease obligations $ 18,845,889Ìý $ 18,328,629Ìý
Schedule of Other Information Related to Leases
April 30,
Other Information 2022 2021
Weighted average remaining lease term (in years) 6.81 7.46
Weighted average discount rate 12Ìý % 12Ìý %