XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Note 7 – Intangible Assets | 3 Months Ended
--- | ---
Jul. 31, 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 were as follows:
|  |  |  | July 31, 2022 |  | April 30, 2022
|  | Gross Value |  | Accumulated Amortization |  | Net Value |  | Accumulated Amortization |  | Net Value
Proprietary technology |  | $ | 1,098,000 |  |  |  | (267,284 | ) |  | $ | 830,716 |  |  | $ | (219,267 | ) |  | $ | 878,733 |
Non-compete agreements |  |  | 81,000 |  |  |  | (36,417 | ) |  |  | 44,583 |  |  |  | (29,667 | ) |  |  | 51,333 |
Customer relationships |  |  | 39,000 |  |  |  | (13,928 | ) |  |  | 25,072 |  |  |  | (12,535 | ) |  |  | 26,465 |
Total finite-lived assets |  |  | 1,218,000 |  |  |  | (317,629 | ) |  |  | 900,371 |  |  |  | (261,469 | ) |  |  | 956,531 |
Brand name |  |  | 1,722,000 |  |  |  | — |  |  |  | 1,722,000 |  |  |  | — |  |  |  | 1,722,000 |
Trademark |  |  | 20,000 |  |  |  | — |  |  |  | 20,000 |  |  |  | — |  |  |  | 20,000 |
Total indefinite-lived assets |  |  | 1,742,000 |  |  |  | — |  |  |  | 1,742,000 |  |  |  | — |  |  |  | 1,742,000 |
Total intangible assets, net |  | $ | 2,960,000 |  |  |  | (317,629 | ) |  | $ | 2,642,371 |  |  | $ | (261,469 | ) |  | $ | 2,698,531 |
Proprietary technology and non-compete agreements are being amortized over 5 and 3 years, respectively. Customer relationships is being amortized over 7 years. Goodwill and Brand name are not amortized but evaluated for impairment on a quarterly basis. As of July 31, 2022, expected amortization expense for finite-lived intangible assets for the next five years is as follows:
Fiscal Year Ended: |  |
| 2023 |  |  | $ | 168,478 |
| 2024 |  |  |  | 221,972 |
| 2025 |  |  |  | 197,638 |
| 2026 |  |  |  | 170,438 |
| 2027 |  |  |  | 141,845 |
| Total |  |  | $ | 900,371 |
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 and July 31, 2022 |  |  |  |  | $ | 25,138,750 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration