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Note 7 – Intangible Assets | 12 Months Ended
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Apr. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Note 7 – Intangible Assets | Note 7 – Intangible Assets Intangible assets relate to acquisitions completed by the Company, including those described in Note 1. Intangible assets as of April 30 were as follows:
| April 30, 2022 |  | April 30, 2021
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Proprietary technology | $ | 1,098,000 |  |  | $ | (219,267 | ) |  | $ | 878,733 |  |  | $ | 272,000 |  |  | $ | (27,200 | ) |  | $ | 244,800 |
Non-compete agreements |  | 81,000 |  |  |  | (29,667 | ) |  |  | 51,333 |  |  |  | 16,000 |  |  |  | (2,667 | ) |  |  | 13,333 |
Customer relationships |  | 39,000 |  |  |  | (12,535 | ) |  |  | 26,465 |  |  |  | 39,000 |  |  |  | (6,964 | ) |  |  | 32,036 |
Total finite-lived assets |  | 1,218,000 |  |  |  | (261,469 | ) |  |  | 956,531 |  |  |  | 327,000 |  |  |  | (36,831 | ) |  |  | 290,169 |
Brand name |  | 1,722,000 |  |  |  | — |  |  |  | 1,722,000 |  |  |  | 1,722,000 |  |  |  | — |  |  |  | 1,722,000 |
Trademark |  | 20,000 |  |  |  | — |  |  |  | 20,000 |  |  |  | 20,000 |  |  |  | — |  |  |  | 20,000 |
Total indefinite-lived assets |  | 1,742,000 |  |  |  | — |  |  |  | 1,742,000 |  |  |  | 1,742,000 |  |  |  | — |  |  |  | 1,742,000 |
Total intangible assets, net | $ | 2,960,000 |  |  | $ | (261,469 | ) |  | $ | 2,698,531 |  |  | $ | 2,069,000 |  |  | $ | (36,831 | ) |  | $ | 2,032,169 |
As of April 30, 2022, expected amortization expense for the unamortized finite-lived intangible assets for the next five years is as follows:
| Fiscal Year Ended: |  |
| 2023 |  |  | $ | 224,638 |
| 2024 |  |  |  | 221,972 |
| 2025 |  |  |  | 197,638 |
| 2026 |  |  |  | 170,438 |
| 2027 |  |  |  | 141,845 |
| Total |  |  | $ | 956,531 |
Goodwill is a separately stated intangible asset and represents the excess of the purchase price of acquisitions above the net assets acquired. The composition of, and changes in goodwill consist of:
Date |  | Acquisition |  | Goodwill
January 2020 |  |  | Rotor Riot |  |  | $ | 1,849,073 |
November 2020 |  |  | Fat Shark |  |  |  | 6,168,260 |
Balance at April 30, 2021 |  |  |  |  |  |  | 8,017,333 |
May 2021 |  |  | Skypersonic |  |  |  | 2,826,918 |
August 2021 |  |  | Teal Drones |  |  |  | 14,294,499 |
Balance at April 30, 2022 |  |  |  |  |  | $ | 25,138,750 |
Proprietary technology and non-compete agreements are being amortized over 5 and 3 years, respectively. Goodwill and Brand name are not amortized but evaluated for impairment on a quarterly basis.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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