XML 40 R26.htm IDEA: XBRL DOCUMENT v3.24.2
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Apr. 30, 2024
Accounting Policies [Abstract]  
Schedule of Revenue Recognizes From Operating Lease Arrangements

The below table represents the total revenue recognized under ASC 606 and ASC 842 fiscal years ended April 30, 2024 and 2023:

 

   ASC 606   ASC 842   Total   ASC 606   ASC 842   Total 
   Fiscal year ended April 30, 2024   Fiscal year ended April 30, 2023 
   ASC 606   ASC 842   Total   ASC 606   ASC 842   Total 
   (in thousands)   (in thousands) 
Product Line:                              
WAM-V  $1,912   $1,392   $3,304   $919   $667   $1,586 
Buoy   1,739    —    1,739    269    —    269 
Services   482    —    482    877    —    877 
Total  $4,133   $1,392   $5,525   $2,065   $667   $2,732 
                               
Region:                              
North and South America  $4,101   $1,177   $5,278   $1,722   $667   $2,389 
Europe   32    215    247    90    -    90 
Asia and Australia   —    —    —    253    —    253 
Total  $4,133   $1,392   $5,525   $2,065   $667   $2,732 
Schedule of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that total to the same amounts shown in the Consolidated Statements of Cash Flows.

 

   April 30, 2024   April 30, 2023 
   (in thousands) 
Cash and cash equivalents  $3,151   $6,883 
Restricted cash- short term   —    65 
Restricted cash- long term   154    155 
Cash, cash equivalents, restricted cash and restricted cash equivalents  $3,305   $7,103 
Schedule of Investments and Unrealized Gains/Losses

The following table summarizes the Company’s short-term investments as of April 30, 2024 and 2023:

 

   April 30, 2024   April 30, 2023 
Category  Amortized Cost   Unrealized Gains (Losses)   Market Value   Amortized Cost   Unrealized Gains (Losses)   Market Value 
   (in thousands)     
Corporate Bonds  $—   $—   $—   $14,776   $100   $14,876 
Government Bonds & Notes   —    —    —    9,188    33    9,221 
Government Agency   —    —    —    3,826    25    3,851 
Total Short Term Investments  $—   $—   $—   $27,790   $158   $27,948 
Schedule of Property, Plant and Equipment, Useful Life

 

Description   Estimated useful life
     
Equipment   5-7 years
Computer equipment & software   3 years
Office furniture & fixtures   3-7 years
Leasehold improvements   Shorter of the estimated useful life or lease term
Leased Power Buoy assets   10 years
Leased WAM-V assets   10 years