Note 3 - Capitalized Lease

12 Months Ended

Apr. 30, 2019

Notes to Financial Statements

Debt and Capital Leases Disclosures [Text Block]

3. CAPITALIZED LEASE:

The Company leases a hangar and office space under a long-term lease.

Included in land and building are the following assets held under capital lease:

	April 30, 2019
Building	$	1,699
Less accumulated depreciation		11
Total	$	1,688

Future minimum lease payments for assets under capital leases at

April 30, 2019

are as follows:

2020	$	93
2021		93
2022		93
2023		93
2024		93
Thereafter		4,137
Total minimum lease payments		4,602
Less amount representing interest		2,905
Present value of net minimum lease payments		1,697
Less current maturities of capital lease obligation		8
Long-term capital lease obligation	$	1,689

Financial and Other Covenants

We are in compliance with our covenants at

April 30, 2019.