Note 10 - 401(k) Profit Sharing Plan

12 Months Ended

Apr. 30, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

10. 401 (k) PROFIT SHARING PLAN:

We have a defined contribution plan authorized under Section

401

(k) of the Internal Revenue Code. All benefits-eligible employees with at least

thirty

days of service are eligible to participate in the plan; however, there are only

two

entry dates per calendar year. The Plan

may

match subject to the annual approval of the Board of Directors,

100

percent of every pre-tax dollar an employee contributes up to

6

percent of the employee's salary, and a portion of the Company’s profits. Employees are

100

percent vested in the employer's contributions immediately. Our matching contribution, as approved by the Board of Directors was paid in common stock of the Company.  The contribution amount was valued at the market price of the stock contributed in

2020

and

2019

was approximately

$676

and

$584

respectively.