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Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
12 Months Ended
Apr. 30, 2020
Leases [Abstract] Ìý
Future Minimum Payments Under Operating Leases
The following is a schedule by years of future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of AprilÌý30, 2020 (a).
Maturity of Lease Obligations Lease Payments
2021Ìý Ìý $ 2,409,191Ìý Ìý
2022Ìý Ìý 2,250,755Ìý Ìý
2023Ìý Ìý 1,686,197Ìý Ìý
2024Ìý Ìý 1,488,839Ìý Ìý
2025Ìý Ìý 1,136,640Ìý Ìý
Thereafter 779,286Ìý Ìý
Total 9,750,908Ìý Ìý
Less Interest (2,382,321) Ìý
Present value of operating lease obligations $ 7,368,587Ìý Ìý
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(a) Lease payments exclude $4.3Ìýmillion of legally binding minimum lease payments for the new Aspen University BSN Pre-Licensure campus location in Austin, Texas lease signed but not yet commenced. Prior to commencing its Austin campus operations, Aspen is required to obtain approvals from the Texas Board of Nursing.
Schedule of Balance Sheet Information Related to Leases
Balance Sheet Classification
Operating lease obligations, current $ 1,683,252Ìý Ìý
Operating lease obligations, long-term 5,685,335Ìý Ìý
Total operating lease obligations $ 7,368,587Ìý Ìý
Other Information
Weighted average remaining lease term 4.6
Weighted average discount rate 12.06Ìý %