XML 23 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Apr. 30, 2021
Apr. 30, 2020
Apr. 30, 2019
Cash flows from operating activities:      
Net income $ 23,280,000 $ 14,943,000 $ 12,009,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,293,000 266,000 367,000
Investment (gains)/losses (4,710,000) 1,414,000 (1,087,000)
Non-voting profits interest in EAM Trust (2,131,000) (1,166,000) (1,049,000)
Non-voting revenues interest in EAM Trust (15,190,000) (11,184,000) (8,260,000)
Revenues distribution received from EAM Trust 13,907,000 10,588,000 8,027,000
Profits distributions received from EAM Trust 1,602,000 1,222,000 945,000
Deferred rent (962,000) 99,000 (89,000)
Deferred income taxes 543,000 154,000 740,000
Other, net (55,000)
Changes in operating assets and liabilities:      
Unearned revenue 350,000 (745,000) (42,000)
Accounts payable & accrued expenses 21,000 (12,000) 142,000
Accrued salaries 18,000 (66,000) (176,000)
Accrued taxes on income (1,487,000) 898,000 339,000
Prepaid and refundable income taxes (616,000) 254,000 203,000
Prepaid expenses and other current assets 39,000 14,000 (65,000)
Accounts receivable 453,000 (2,934,000) (455,000)
Total adjustments (6,870,000) (1,198,000) (515,000)
Net cash provided by operating activities 16,410,000 13,745,000 11,494,000
Cash flows from investing activities:      
Proceeds from sales of equity securities 8,212,000 4,387,000
Purchases of equity securities (12,958,000) (9,302,000) (156,000)
Proceeds from sales of Fixed Income securities 14,902,000 8,663,000 8,346,000
Purchases of Fixed Income securities (2,597,000) (12,403,000) (11,040,000)
Acquisition of property and equipment (33,000) (2,000) (11,000)
Expenditures for capitalized software (145,000) (111,000)
Net cash provided by/(used in) investing activities 7,381,000 (8,657,000) (2,972,000)
Cash flows from financing activities:      
Purchase of treasury stock at cost (1,526,000) (1,214,000) (608,000)
Proceeds from SBA loan 2,331,000
Receivable from clearing broker 608,000 (608,000)
Payable to clearing broker (588,000) 588,000
Dividends paid (8,068,000) (7,724,000) (7,362,000)
Net cash used in financing activities (9,574,000) (6,627,000) (7,970,000)
Net change in cash and cash equivalents 14,217,000 (1,539,000) 552,000
Cash, cash equivalents and restricted cash at beginning of year 5,423,000 6,962,000 6,410,000
Cash, cash equivalents and restricted cash at end of year $ 19,640,000 $ 5,423,000 $ 6,962,000