LEASE COMMITMENTS	12 Months Ended
Apr. 30, 2024
LEASE COMMITMENTS
LEASE COMMITMENTS	(14) LEASE COMMITMENTS The Company leases an office and office equipment in Pennsylvania and office equipment in New Mexico. The leases are generally non-cancelable operating leases with an initial term of two to five years. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The lease agreements do not contain any residual value guarantees or material restrictive covenants. As of April 30, 2024, right-of-use assets and lease liabilities were $67,000 and $69,000. As of April 30, 2023, right-of-use assets and lease liabilities were $93,000 and $95,000. Total operating lease expense was $60,000 and $56,000 for 2024 and 2023. Remaining operating lease payments for these leases subsequent to April 30, 2024 are $27,000 in fiscal year 2025, $29,000 in fiscal year 2026 and $9,000 in fiscal year 2027. Remaining operating lease payments had imputed interest resulting in a present value of these lease liabilities of $61,000. For 2024, the weighted average remaining lease term and weighted average discount rate of the Company’s operating leases were 2.34 years and 5.50%. For 2023, the weighted average remaining lease term and weighted average discount rate of the Company’s operating leases were 3.34 years and 5.50%. The lease contracts for the Company generally do not provide a readily determinable implicit rate. For these contracts, the Company estimated the incremental borrowing rate based on information available upon the adoption of ASU 2016-02. The Company applied a consistent method in periods after the adoption of ASU 2016-02 to estimate the incremental borrowing rate.

LEASE COMMITMENTS

12 Months Ended

Apr. 30, 2024

(14) LEASE COMMITMENTS

The Company leases an office and office equipment in Pennsylvania and office equipment in New Mexico. The leases are generally non-cancelable operating leases with an initial term of two to five years. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The lease agreements do not contain any residual value guarantees or material restrictive covenants. As of April 30, 2024, right-of-use assets and lease liabilities were $67,000 and $69,000. As of April 30, 2023, right-of-use assets and lease liabilities were $93,000 and $95,000. Total operating lease expense was $60,000 and $56,000 for 2024 and 2023.

Remaining operating lease payments for these leases subsequent to April 30, 2024 are $27,000 in fiscal year 2025, $29,000 in fiscal year 2026 and $9,000 in fiscal year 2027. Remaining operating lease payments had imputed interest resulting in a present value of these lease liabilities of $61,000. For 2024, the weighted average remaining lease term and weighted average discount rate of the Company’s operating leases were 2.34 years and 5.50%. For 2023, the weighted average remaining lease term and weighted average discount rate of the Company’s operating leases were 3.34 years and 5.50%. The lease contracts for the Company generally do not provide a readily determinable implicit rate. For these contracts, the Company estimated the incremental borrowing rate based on information available upon the adoption of ASU 2016-02. The Company applied a consistent method in periods after the adoption of ASU 2016-02 to estimate the incremental borrowing rate.