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INTANGIBLE ASSETS
 12 Months Ended
Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

Note 5: 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   April 30, 2024 
   Amortization (in years)   Carrying Value   Accumulated Amortization   Impairment Loss   Net Carrying Value 
Tradenames and patents   15.26   $385,582   $24,031   $360,551   $1,000 
Customer relationships   9.92    3,930,000    50,038    3,879,962    - 
Internally developed software   4.91    580,000    79,608    500,392    - 
Total intangible assets       $4,895,582   $153,677   $4,740,905   $1,000 

 

   Amortization (in years)   Carrying Value   Accumulated Amortization   Impairment Loss   Net Carrying Value 
   Weighted     
   Average Period   April 30, 2023 
   Amortization (in years)   Carrying Value   Accumulated Amortization   Impairment Loss   Net Carrying Value 
Tradenames and patents   15.26   $385,582   $24,031    260,270   $101,281 
Customer relationships   9.92    3,930,000    50,038    3,879,962    - 
Internally developed software   4.91    580,000    79,608    500,392    - 
Total intangible assets       $4,895,582   $153,677   $4,640,624   $101,281 

 

Amortization expense for the years ended April 30, 2024 and 2023 was approximately $1,000 and $101,281, respectively. The Company impaired $100,281 for the year ended April 30, 2024. The remaining $1,000 is a nominal value related to the Company’s patents. This amount is not expected to be amortized any further.