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Related Party Transactions
12 Months Ended
Apr. 30, 2020
Related Party Transactions  
Related Party Transactions

17.          Related Party Transactions

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Pursuant to a consulting agreement, the Company paid a board member approximately $59,000, $55,000 and $48,000 for fiscal years ended April 30, 2020, 2019 and 2018, respectively, for consulting services independent of his board service.

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Concurrent with the formation of HAPSMobile, the Company executed a Design and Development Agreement (the “DDA”) with HAPSMobile. Under the DDA and related efforts, the Company will use its best efforts, up to a maximum value of $166,108,000, to design and build prototype solar powered high altitude aircraft and ground control stations for HAPSMobile and conduct low altitude and high altitude flight tests of the prototype aircraft.

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The Company recorded revenue under the DDA and preliminary design agreements between the Company and SoftBank of $60,864,000, $55,407,000 and $29,594,000 for the fiscal years ended April 30, 2020, 2019 and 2018, respectively. At April 30, 2020 and 2019, the Company had unbilled related party receivables from HAPSMobile of

$15,779,000 and $9,028,000 recorded in unbilled receivables and retentions on the consolidated balance sheet, respectively. As of April 30, 2020, the Company owned approximately a 7% stake. Refer to Note 8 – Equity Method Investments for further details.