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Loan Payable
6 Months Ended
Oct. 31, 2020
Debt Disclosure [Abstract]  
Loan Payable

(10) Loan Payable

 

In August 2020 the Company signed a commercial premium finance agreement in the amount of $466,622 with First Insurance Funding whereas First Insurance Funding prepaid a portion of the Company insurance premiums including principally the Directors and Officers insurance. The Company will make eight monthly payments of $58,957.25, inclusive of interest charges, to repay First Insurance Funding the amount. Interest expense for the loan period is immaterial.