| Property and Equipment |
Property and Equipment As property and equipment reach the end of their useful lives, the fully expired assets are written off against the associated accumulated depreciation and amortization. There is no expense impact for such write offs.
Property and equipment consisted of the following at AprilÌý30, 2020 and AprilÌý30, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
April 30, |
|
|
|
2020 |
|
2019 |
| Computer equipment and hardware |
$ |
649,927Ìý |
Ìý |
|
$ |
521,395Ìý |
Ìý |
| Furniture and fixtures |
1,007,099Ìý |
Ìý |
|
915,936Ìý |
Ìý |
| Leasehold improvements |
867,024Ìý |
Ìý |
|
|
204,545Ìý |
Ìý |
| Instructional equipment |
301,842Ìý |
Ìý |
|
|
260,790Ìý |
Ìý |
Software |
6,162,770Ìý |
Ìý |
|
4,314,198Ìý |
Ìý |
|
8,988,662Ìý |
Ìý |
|
6,216,864Ìý |
Ìý |
| Accumulated depreciation and amortization |
(2,841,019) |
Ìý |
|
(1,825,524) |
Ìý |
Property and equipment, net |
$ |
6,147,643Ìý |
Ìý |
|
$ |
4,391,340Ìý |
Ìý |
Software consisted of the following at AprilÌý30, 2020 and 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
April 30, |
|
|
|
2020 |
|
2019 |
Software |
$ |
6,162,770Ìý |
Ìý |
|
$ |
4,314,198Ìý |
Ìý |
| Accumulated amortization |
(2,049,809) |
Ìý |
|
(1,351,193) |
Ìý |
Software, net |
$ |
4,112,961Ìý |
Ìý |
|
$ |
2,963,005Ìý |
Ìý |
Depreciation and amortization expense for all Property and Equipment as well as the portion for just software is presented below for the years ended AprilÌý30, 2020 and 2019:
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|
|
|
|
|
|
|
|
|
|
|
|
Years Ended April 30, |
|
|
|
2020 |
|
2019 |
| Depreciation and amortization expense |
$ |
1,497,470Ìý |
Ìý |
|
$ |
1,002,347Ìý |
Ìý |
|
|
|
|
| Software amortization expense |
$ |
1,013,466Ìý |
Ìý |
|
$ |
684,871Ìý |
Ìý |
The following is a schedule of estimated future amortization expense of software at AprilÌý30, 2020:
|
|
|
|
|
|
|
|
| Year Ending April 30, |
|
| 2021 |
$ |
1,203,497Ìý |
Ìý |
| 2022 |
1,109,903Ìý |
Ìý |
| 2023 |
942,271Ìý |
Ìý |
| 2024 |
639,618Ìý |
Ìý |
| Thereafter |
217,672Ìý |
Ìý |
| Total |
$ |
4,112,961Ìý |
Ìý |
|