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Note 7 – Lease Agreements (Tables) | 6 Months Ended
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Oct. 31, 2021
Leases [Abstract] |
operating leases for real estate locations | The Company has the following operating leases for real estate locations where it operates:
Location |  | Monthly Rent |  | Expiration
South Salt Lake, Utah |  | $ | 11,000 |  |  |  | August 2024
Orlando, Florida |  | $ | 4,600 |  |  |  | May 2024
Cayman Islands |  | $ | 3,438 |  |  |  | Month to Month
Troy, Michigan |  | $ | 2,667 |  |  |  | May 2022
Orlando, Florida |  | $ | 1,690 |  |  |  | September 2022
Torino, Italy |  | $ | 1,445 |  |  |  | January 2024
Future lease payment obligations | These lease agreements have remaining terms up to 2.84 years, excluding options to extend certain leases for up to 5 years. The weighted average remaining lease term as of October 31, 2021 was 2.52 years. The Company used a discount rate of 12% to calculate its lease liability at October 31, 2021. Future lease payment obligations at October 31, 2021 were as follows:
Fiscal Year Ended: |  |
2022 |  |  | $ | 140,014 |
2023 |  |  |  | 251,254 |
2024 |  |  |  | 207,727 |
2025 |  |  |  | 90,613 |
Total |  |  | $ | 689,608 |

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123406913&loc=d3e41499-112717 + Details
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