Investments in Companies Accounted for Using the Equity Method	12 Months Ended
Apr. 30, 2019
Equity Method Investments
Investments in Companies Accounted for Using the Equity Method	8. Investments in Companies Accounted for Using the Equity Method In December of 2017, the Company and Softbank formed a joint venture, HAPSMobile. HAPSMobile is a Japanese corporation that is 10% owned by the Company and 90% owned by SoftBank as of April 30, 2019 and is governed by a Joint Venture Agreement (the “JVA”). The Company purchased a 5% stake in HAPSMobile for 210,000,000 yen ($1,860,000) effective as of December 27, 2017; 150,000,000 yen ($1,407,000) on April 17, 2018; and 209,500,000 yen ($1,926,000) on January 29, 2019 to maintain its 5% ownership stake. On February 9, 2019, the Company elected to purchase 632,800,000 yen ($5,671,000) of additional shares of HAPSMobile to increase the Company’s ownership in the joint venture from 5% to 10%, and on May 10, 2019, the Company purchased 500,000,000 JPY ($4,569,000) of additional shares of HAPSMobile Inc. to maintain its 10% ownership stake which subsequently was diluted to approximately 5%. As the Company has the ability to exercise significant influence over the operating and financial policies of HAPSMobile, the Company’s investment is accounted as an equity method investment. At April 30, 2019 and 2018, the Company recorded its ownership percentage of the net loss of HAPSMobile, or $3,944,000 and $1,283,000, respectively, in “Equity method investment loss, net of tax” in the consolidated statements of income. At April 30, 2019 and 2018, the carrying value of the investment in HAPSMobile was $5,612,000 and $2,020,000, respectively, and was recorded in “Other assets, long-term.” In March of 2014, the Company purchased 49% of the outstanding common stock of Altoy, a Turkish corporation founded in February 2014. During the year ended April 30, 2017, the Company recorded 49% of the net loss of Altoy, or $119,000 in “Equity method investment loss, net of tax” in the consolidated statements of income. On February 1, 2017, the Company acquired an additional 36% interest in Altoy, increasing the Company’s total ownership interest to 85%, for total cash consideration of $625,000. As a result of the Company obtaining a controlling interest in Altoy, Altoy has been consolidated into the consolidated financial statements of the Company as of the date of the acquisition. Refer to Note 19 - Business Acquisitions.

8. Investments in Companies Accounted for Using the Equity Method

In December of 2017, the Company and Softbank formed a joint venture, HAPSMobile. HAPSMobile is a Japanese corporation that is 10% owned by the Company and 90% owned by SoftBank as of April 30, 2019 and is governed by a Joint Venture Agreement (the “JVA”). The Company purchased a 5% stake in HAPSMobile for 210,000,000 yen ($1,860,000) effective as of December 27, 2017; 150,000,000 yen ($1,407,000) on April 17, 2018; and 209,500,000 yen ($1,926,000) on January 29, 2019 to maintain its 5% ownership stake. On February 9, 2019, the Company elected to purchase 632,800,000 yen ($5,671,000) of additional shares of HAPSMobile to increase the Company’s ownership in the joint venture from 5% to 10%, and on May 10, 2019, the Company purchased 500,000,000 JPY ($4,569,000) of additional shares of HAPSMobile Inc. to maintain its 10% ownership stake which subsequently was diluted to approximately 5%.

As the Company has the ability to exercise significant influence over the operating and financial policies of HAPSMobile, the Company’s investment is accounted as an equity method investment. At April 30, 2019 and 2018, the Company recorded its ownership percentage of the net loss of HAPSMobile, or $3,944,000 and $1,283,000, respectively, in “Equity method investment loss, net of tax” in the consolidated statements of income. At April 30, 2019 and 2018, the carrying value of the investment in HAPSMobile was $5,612,000 and $2,020,000, respectively, and was recorded in “Other assets, long-term.”

In March of 2014, the Company purchased 49% of the outstanding common stock of Altoy, a Turkish corporation founded in February 2014. During the year ended April 30, 2017, the Company recorded 49% of the net loss of Altoy, or $119,000 in “Equity method investment loss, net of tax” in the consolidated statements of income.

On February 1, 2017, the Company acquired an additional 36% interest in Altoy, increasing the Company’s total ownership interest to 85%, for total cash consideration of $625,000. As a result of the Company obtaining a controlling interest in Altoy, Altoy has been consolidated into the consolidated financial statements of the Company as of the date of the acquisition. Refer to Note 19 - Business Acquisitions.