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Note 9 – Operating Leases | 6 Months Ended
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Oct. 31, 2022
Leases [Abstract] |
Note 9 – Operating Leases | Note 9 – Operating Leases As of October 31, 2022, the Company had operating type leases for real estate and no finance type leases. The Company’s leases have remaining lease terms of up to 4.58 years, some of which may include options to extend for up to 5 years. Operating lease expense totaled $201,004 for the six months ended October 31, 2022, including period cost for short-term, cancellable, and variable leases, not included in lease liabilities, of $19,725 for the six months ended October 31, 2022. Leases on which the Company made rent payments during the reporting period included:
Location |  | Monthly Rent |  | Expiration
South Salt Lake, Utah |  | $ | 22,000 |  |  |  | December 2024 |
Orlando, Florida |  | $ | 4,692 |  |  |  | January 2025 |
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 for the six months ended October 31, 2022 was:
Operating cash paid to settle lease liabilities |  |  | $176,887 |
Weighted average remaining lease term (in years) |  |  | 2.83 |
Weighted average discount rate |  |  | 12% |
Future lease payments at October 31, 2022 were as follows:
Fiscal Year Ended: |  |
| 2023 |  |  | $ | 197,723 |
| 2024 |  |  |  | 403,878 |
| 2025 |  |  |  | 304,676 |
| 2026 |  |  |  | 76,619 |
| 2027 |  |  |  | 79,300 |
| Thereafter |  |  |  | 6,627 |
| Total |  |  | $ | 1,068,823 |

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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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