Note 15 - 401(k) Profit Sharing Plan

12 Months Ended

Apr. 30, 2024

Notes to Financial Statements

Retirement Benefits [Text Block]

15. 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 cash in the year ended April 30, 2024 and was paid in common stock of the Company in the year ended April 30, 2023.  The stock contribution amount was valued at a weekly weighted average market price of the stock contributed in fiscal year 2023. The contribution expense was $750 and $783 in fiscal year ended April 30, 2024 and 2023, respectively.