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Note 10 – Operating Leases
 9 Months Ended
Jan. 31, 2023
Leases [Abstract]  
Note 10 – Operating Leases

Note 10 – Operating Leases

 

As of January 31, 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 4.33 years, some of which may include options to extend for up to 5 years. Operating lease expense totaled $296,436 for the nine months ended January 31, 2023, including period cost for short-term, cancellable, and variable leases, not included in lease liabilities, of $21,375 for the nine months ended January 31, 2023.

 

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  $5,775    June 2027 
Troy, Michigan  $2,667    May 2022 
Orlando, Florida  $1,690    September 2022 

   

Supplemental information related to operating leases for the nine months ended January 31, 2023 was:

 

    
Operating cash paid to settle lease liabilities  $271,568 
Weighted average remaining lease term (in years)   2.62 
Weighted average discount rate   12%

 

  

Future lease payments at January 31, 2023 were as follows:

 

Fiscal Year Ended:   
 2023   $99,662 
 2024    403,878 
 2025    304,676 
 2026    76,619 
 2027    79,300 
 Thereafter    6,627 
 Total   $970,762