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Related Party Transactions
 3 Months Ended
Jul. 31, 2021
Related Party Transactions  
Related Party Transactions

17. Related Party Transactions

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Related party transactions are defined as transactions between the Company and entities either controlled by the Company or that the Company can significantly influence. Although SoftBank has a controlling interest in HAPSMobile, the Company determined that it has the ability to exercise significant influence over HAPSMobile. As such, HAPSMobile and SoftBank are considered related parties of the Company. Under the DDA and related efforts with HAPSMobile, the Company will use its best efforts, up to a maximum net value of $185,202,000, to design and build prototype solar powered high altitude aircraft and ground control stations for HAPSMobile and conduct low altitude and high altitude flight tests of the prototype aircraft. The Company will continue the development of Solar HAPS with Softbank under the MDDA. Upon the execution of the MDDA, SoftBank issued the first order under the MDDA which has a maximum value of approximately $51,200,000.

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The Company recorded revenue under both the MDDA and DDA of $10,352,000 and $16,386,000 for the three months ended July 31, 2021 and August 1, 2020, respectively. At July 31, 2021 and April 30, 2021, the Company had unbilled related party receivables from HAPSMobile of $5,568,000 and $544,000 recorded in unbilled receivables and retentions on the consolidated balance sheets, respectively. Refer to Note 6—Equity Method Investments for further details.