Leases

3 Months Ended

Jul. 31, 2019

Leases [Abstract]

Leases [Text Block]

Note 11	Leases
	The Company has operating leases for its corporate offices located in Canada and the United States. The leases have remaining terms of 10 months to 5.3 years, some of which may include the option to extend the lease for one to five years. For leases with a term greater than 12 months, the Company recognizes a right-of-use asset and a lease liability based on the present value of the minimum lease payments over the lease term. If the Company is reasonably certain that it will exercise the extension option, the extended period will be included in the calculation of the right-of-use asset and lease liability. The lease agreements do not contain any variable payments, residual value guarantees or restrictive covenants.
	As the Company's leases do not provide a readily determinable implicit rate, the Company uses the incremental borrowing rate at lease commencement, which was determined using a portfolio approach, based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The Company uses the implicit rate when a rate is readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term.
	Leases with an initial term of 12 months or less are not recognized on the balance sheet and payments are expensed as incurred over the lease term. Common area maintenance fees and other charges associated with these leases are expensed as incurred. Property tax and insurance payments paid to the lessors are included in the calculation of minimum lease payments.
	During the three months ended July 31, 2019, operating lease expense was approximately $138,277 and the cash paid for amounts included in the measurement of the operating lease liabilities was $127,420.
	The following table presents the Company’s operating lease right-of-use assets and liabilities as of July 31, 2019:

		July 31, 2019
Assets
Operating lease right-of-use assets	$	1,665,595
Liabilities
Operating lease liabilities – current	$	296,967
Operating lease liabilities – non-current		1,379,049
Total operating lease liabilities	$	1,676,016

The following table presents supplemental information for the three months ended July 31, 2019:

Weighted average remaining lease term	4.8 years
Weighted average discount rate	15.5%
Operating cash flow from operating leases	($127,420	)

As of July 31, 2019, estimated future commitments related to operating leases were as follows:

2020	$	399,669
2021		459,475
2022		448,831
2023		436,264
2024		448,422
Thereafter		166,892
Less: imputed interest		(683,537	)
Operating lease liabilities	$	1,676,016