XML 42 R32.htm IDEA: XBRL DOCUMENT v3.21.2
Leases (Tables)
 3 Months Ended
Apr. 30, 2021
Operating Leases [Member]  
Schedule of Lease Costs

The following table presents the Company’s lease costs for the three months ended April 30, 2021:

 

    Three Months Ended  
    April 30, 2021  
Operating Lease Costs:        
Operating lease cost*     60,082  

 

* Short term lease costs were immaterial.
Schedule of Cash Flow Information

Supplemental cash flow information is as follows:

 

    Three Months Ended  
    April 30, 2021  
       
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows from operating leases   $ 42,678  
         
Lease obligations:        
Operating leases, net   $ 2,355,275  
Long-term obligations   $ 2,295,144  
Schedule of Weighted Average Remaining Lease Terms and Discount Rates

Weighted average remaining lease terms and discount rates were as follows:

 

Weighted average remaining lease term (years)   April 30, 2021  
Operating leases     37  
         

Weighted average discount rate

Operating leases

     4.85 %
Schedule of Future Minimum Rental Payments for Operating Lease and Finance Lease

The aggregate future lease payments for Operating Lease Liability as of April 30, 2021 are as follows:

 

For the Years Ending April 30,      
2022   $ 129,499  
2023     148,348  
2024     112,116  
2025     112,116  
2026     112,116  
Thereafter     5,039,196  
Total minimum lease payments   $ 5,653,391  
Less: amount representing interest     3,298,116  
Total present value of minimum payments     2,355,275  
Less: current portion   $ 60,131  
Long term portion of operating lease liability     2,295,144  
Finance Leases [Member]  
Schedule of Lease Costs

The following table presents the Company’s lease costs for the three months ended April 30, 2021:

 

    Three Months Ended  
    April 30, 2021  
Finance Lease Costs:        
Amortization of right-of-use assets   $ 6,937  
Interest on lease obligations     942  
Schedule of Cash Flow Information

Supplemental cash flow information is as follows:

 

    Three Months Ended  
    April 30, 2021  
       
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows from finance leases   $ 7,781  
         
Lease obligations:        
Finance leases, net   $ 73,138  
Long-term obligations   $ 44,940  
Schedule of Weighted Average Remaining Lease Terms and Discount Rates

Weighted average remaining lease terms and discount rates were as follows:

 

Weighted average remaining lease term (years)   April 30, 2021  
Finance leases     2.5  
         
Weighted average discount rate     4.85 %
Finance leases        
Schedule of Future Minimum Rental Payments for Operating Lease and Finance Lease

The aggregate future lease payments for Finance Lease Liability as of April 30, 2021 are as follows:

 

For the Years Ending April 30,      
2022     23,343  
2023     31,123  
2024     23,343  
Total minimum lease payments   $ 77,809  
Less: amount representing interest     4,671  
Total present value of minimum payments     73,138  
Less: current portion   $ 28,198  
Long term portion of finance lease liability     44,940