XML 20 R9.htm IDEA: XBRL DOCUMENT v3.6.0.2
Borrowings
9 Months Ended
Jan. 31, 2017
Borrowings [Abstract]  
Borrowings
4. Debt: At January 31, 2017, the Company was utilizing a line of credit totaling $5,000. The unused line at January 31, 2017 was $2,743. These funds were primarily used for the purchase of inventories and aircraft modification Supplemental Type Certificate ("STC") development costs for modifications and avionics. The line of credit is due on demand and is collateralized by the first and second positions on all assets of the Company.

At January 31, 2017, there are two notes collateralized by aircraft security agreements totaling $519. These notes were used for the purchase and modifications of these collateralized aircraft and Butler Avionics, Inc.

There are three notes at a bank totaling $640 for real estate located in Olathe, Kansas and Tempe, Arizona. The due date for the notes is March 2019.

One note totaling $280 remains for real estate purchased in Dodge City, Kansas and matures in June 2019.

BHCMC arranged to acquire for ownership by the Kansas Lottery additional gaming machines. The balance of these financed payables is $664.

One note secured by all of the BNSC assets and compensation due under the State Management contract totals $3,826 and matures in May 2020. The proceeds were used primarily to retire obligations with BHCI (a non-controlling owner of BHCMC, LLC).

We are not in default of any of our notes as of January 31, 2017.

We believe that our current banks will provide the necessary capital for our business operations. However, we continue to maintain contact with other banks that have an interest in funding our working capital needs to continue our growth in operations in 2017 and beyond.