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Note 10 – Operating Leases

12 Months Ended

Apr. 30, 2023

Leases [Abstract]

Note 10 – Operating Leases

Note 10 – Operating Leases

As of April 30, 2023, 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 4.08 years, some of which may include options to extend for up to 5 years. Operating lease expense totaled $395,248 for the year ended April 30, 2023, including period cost for short-term, cancelable, and variable leases, not included in lease liabilities, of $22,475 for the year ended April 30, 2023.

Leases on which the Company made rent payments during the reporting period included:

Location		Monthly Rent				Expiration
South Salt Lake, Utah		$	22,667				December 2024
Orlando, Florida		$	4,520				January 2025
San Juan, Puerto Rico		$	5,647				June 2027
Troy, Michigan		$	550				May 2022

Supplemental information related to operating leases for the year ended April 30, 2023 was:

Operating cash paid to settle lease liabilities			$371,230
Weighted average remaining lease term (in years)			2.40
Weighted average discount rate			12%

Future lease payments at April 30, 2023 were as follows:

Fiscal Year Ended:
	2024				403,878
	2025				304,676
	2026				76,619
	2027				79,300
	2028				6,627
	Total			$	871,100

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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
-Topic 840
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//840/tableOfContent

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