XML 22 R10.htm IDEA: XBRL DOCUMENT
v3.20.2

Property and Equipment | 12 Months Ended
--- | ---
Apr. 30, 2020
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment consisted of the following (in thousands):
| April 30,
| 2020 |  | 2019
Furniture and fixtures | $ | 181 |  |  | $ | 142 |
Computer equipment and software | 1,551 |  |  | 1,104 |
Laboratory equipment | 4,475 |  |  | 3,358 |
Assets in progress | 554 |  |  | 16 |
Leasehold improvements | 4 |  |  | — |
Total property and equipment | 6,765 |  |  | 4,620 |
Less: Accumulated depreciation and amortization | (2,772 | ) |  | (2,074 | )
Property and equipment, net | $ | 3,993 |  |  | $ | 2,546 |
Depreciation and amortization expense was $825,000 and $606,000 for the years ended April 30, 2020 and 2019, respectively. Depreciation and amortization expense, excluding expense recorded under finance leases, was $683,000 and $490,000 for the twelve months ended April 30, 2020 and 2019. As of April 30, 2020 and 2019, property, plant and equipment included gross assets held under finance leases of $343,000 and $366,000, respectively. Related depreciation expense for these assets was $142,000 and $116,000 for the years ended April 30, 2020 and 2019. As of April 30, 2020, assets in progress includes approximately $300,000 of capitalized software development costs. During the year ended April 30, 2020, specifically during the quarter ended October 31, 2019, the Company traded in and disposed of a $235,000 leased asset that was previously included in the laboratory equipment category. At the time of disposal, the accumulated depreciation related to that asset was written off in the amount of $127,000 (see also paragraph below). As of January 31, 2020, the remaining leased asset included in the laboratory equipment category was fully depreciated resulting in a net balance of nil. Finance Lease In November 2014, the Company entered into a finance lease for laboratory equipment. The lease had costs of approximately $149,000, at inception, through November 2019. The final lease payment under this finance lease of $2,000 was paid during the three months ended January 31, 2020. In July 2018, the Company entered into a second finance lease for laboratory equipment. The lease had total costs of approximately $266,000, inclusive of interest and taxes, with a monthly payment of approximately $11,000. Although the lease was originally due to mature in July 2020, the Company decided to pay the outstanding balance on February 1, 2019. During the quarter ended October 31, 2019, the Company traded in this asset and received a $160,000 reduction in the purchase price of two newly acquired assets. The net book value of the asset traded in at the time of trade in was $108,000, which resulted in the gain on the disposal of the asset of $52,000, which is included as an offset in the other expense line within the Company's consolidated statement of operations for the year ended April 30, 2020. In December 2019, the Company entered into a finance lease for laboratory equipment. The lease had costs of approximately $231,000, at inception, through November 2020. This lease expires December 2020. The current monthly finance lease payment is approximately $19,000. The future minimum lease payments remaining under this finance lease at April 30, 2020 are $135,000. The present value of minimum future obligations is calculated based on interest rate of 4.75%. Depreciation and amortization expense related to this finance lease was $88,500 for the year ended April 30, 2020.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration