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Leases (Tables)
9 Months Ended
Jan. 31, 2024
Leases [Abstract]  
Schedule of Operating Lease Liabilities Maturity The Company’s leases mainly consist of store rent and copier rent. The store lease detail information is listed below:
Store   Lease Term Due
Maison Monrovia *   August 31, 2055 (with extension)
Maison San Gabriel   November 30, 2030
Maison El Monte   July 14, 2028
Maison Monterey Park   May 1, 2028
* On April 1, 2023, the Company renewed lease of Maison Monrovia for additional five years with new monthly based rent of $40,000 for first year and 3% increase for each of the next four years. On July 6, 2023, the Company and the lessor entered an amendment to lease, pursuant to which the lessor will provide monthly basic rent abatement of $5,000 from August 1, 2023 through March 31, 2024, $2,500 from April 1, 2024 through March 31, 2025, and $1,000 from April 1, 2025 through March 31, 2026. As a result of increased monthly base rent, the Company remeasured the lease and determined the ROU and lease liability of this lease increased by $3.62 million for each.
Store   Lease Term Due
Maison Monrovia   January 1, 2028
Maison San Gabriel   January 1, 2028
Maison Monterey Park   August 1, 2027
Schedule of Operating ROU Assets and Lease Liabilities The Company’s operating ROU assets and lease liabilities were as follows:
   January 31,
2024
   April 30,
2023
 
         
Operating ROU:        
ROU assets – supermarket leases  $20,980,731   $22,517,925 
ROU assets – copier leases   24,033    27,265 
Total operating ROU assets  $21,004,764   $22,545,190 
   January 31,
2024
   April 30,
2023
 
         
Operating lease obligations:        
Current operating lease liabilities  $1,850,310   $1,761,182 
Non-current operating lease liabilities   21,309,934    22,711,760 
Total lease liabilities  $23,160,244   $24,472,942 

 

Schedule of Operating Lease Liabilities Maturity As of January 31, 2024, the five-year maturity of the Company’s operating lease liabilities was as follow:
Twelve Months Ended January 31,  Operating
lease
liabilities
 
2025  $2,835,070 
2026   2,897,055 
2027   2,955,250 
2028   3,002,423 
2020   2,029,711 
Thereafter   23,549,256 
Total future undiscounted lease payments   37,268,765 
Less: interest   (14,108,521)
Present value of lease liabilities  $23,160,244