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Note 8 – Operating Leases

9 Months Ended

Jan. 31, 2022

Leases [Abstract]

Note 8 – Operating Leases

Note 8 – Operating Leases

The Company has the following operating leases for real estate locations where it operates:

Location		Monthly Rent				Expiration
South Salt Lake, Utah		$	22,000				December 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

These lease agreements have remaining terms up to 2.92 years, excluding options to extend certain leases for up to 5 years.  The weighted average remaining lease term as of January 31, 2022 was 2.86 years.  The Company used a discount rate of 12% to calculate its lease liability at January 31, 2022.  Future lease payment obligations at January 31, 2022 were as follows:

	Fiscal Year Ended:
	2022			$	98,896
	2023				336,257
	2024				332,356
	2025				230,653
	Total			$	998,162

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- References

No definition available.

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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 http://asc.fasb.org/topic&trid=2208923

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