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Note 9 – Operating Leases | 12 Months Ended
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Apr. 30, 2022
Leases [Abstract] |
Note 9 – Operating Leases | Note 9 – Operating Leases The Company has operating type leases for real estate. As of April 30, 2022, the Company had no finance type leases. The Company’s leases have remaining lease terms of up to 5.08 years, some of which may include options to extend the leases for up to 5 years. Operating lease expense totaled $254,906 for the year ended April 30, 2022 , including period cost for short-term, cancellable and variable leases, not included in lease liabilities, of $41,250 for the year ended April 30, 2022.
Location |  | Monthly Rent |  | Expiration
South Salt Lake, Utah |  | $ | 22,000 |  |  |  | December 2024 |
Orlando, Florida |  | $ | 4,692 |  |  |  | May 2024 |
San Juan, Puerto Rico |  | $ | 2,226 |  |  |  | June 2027 |
Troy, Michigan |  | $ | 2,667 |  |  |  | May 2022 |
Orlando, Florida |  | $ | 1,690 |  |  |  | September 2022 |
Supplemental information related to operating leases is as follows:
|  | Year Ended
|  | April 30, 2022
Operating cash paid to settle lease liabilities |  | $ | 242,003 |
Right of use asset additions in exchange for lease liabilities |  |  | 652,950 |
Weighted average remaining lease term (in years) |  |  | 3.28 |
Weighted average discount rate |  |  | 12.00 | %
Future lease payment obligations at April 30, 2022 were as follows:
| Fiscal Year Ended: |  |
| 2023 |  |  | $ | 400,092 |
| 2024 |  |  |  | 403,878 |
| 2025 |  |  |  | 304,676 |
| 2026 |  |  |  | 76,619 |
| 2027 |  |  |  | 79,300 |
| Thereafter |  |  |  | 6,627 |
| Total |  |  | $ | 1,271,192 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI https://asc.fasb.org/topic&trid=2208923 + Details
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