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INTANGIBLE ASSETS
 9 Months Ended
Jan. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

Note 6: INTANGIBLE ASSETS

 

Intangible assets reflect only those intangible assets of our continuing operations, and consist of the following:

 

   Amortization (in years)   Carrying Value   Accumulated Amortization   Impairment Loss   Net Carrying Value 
   Weighted     
   Average Period   January 31, 2023 
   Amortization (in years)   Carrying Value   Accumulated Amortization   Impairment Loss   Net Carrying Value 
Tradenames and patents   15.26   $385,582   $15,829    -   $369,753 
Customer relationships   9.92    3,930,000    84,102    -    3,845,898 
Internally developed software   4.91    580,000    27,410          -    552,590 
Total intangible assets       $4,895,582   $127,341   $-   $4,768,241 

 

   Amortization (in years)   Carrying Value   Accumulated Amortization   Impairment Loss   Net Carrying Value 
   Weighted     
   Average Period   April 30, 2022 
   Amortization (in years)   Carrying Value   Accumulated Amortization   Impairment Loss   Net Carrying Value 
Tradenames   15.26   $385,582   $9,478           -   $376,104 
Customer relationships   9.92    3,930,000    33,749    -    3,896,251 
Internally developed software   4.91    580,000    9,499    -    570,501 
Total intangible assets       $4,895,582   $52,726   $-   $4,842,856 

 

Amortization expense for the nine months ended January 31, 2023 and 2022 was approximately $74,615 and $4,335, respectively.

 

As of January 31, 2023, the estimated future amortization expense associated with the Company’s intangible assets for each of the five succeeding fiscal years is as follows:

 

For the Periods Ended January 31,  Amortization Expense 
2024  $544,781 
2025   544,781 
2026   544,781 
2027   544,781 
2028   426,815 
Thereafter   2,162,302 
Total  $4,768,241