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Note 9 – Operating Leases
 6 Months Ended
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