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INCOME TAXES
 12 Months Ended
Apr. 30, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES:
Deferred taxes are determined based on the estimated future tax effects of differences between the financial statements and tax basis of assets and liabilities given the provision of the enacted tax laws. Significant components of the Company's deferred tax liabilities and assets as of April 30, 2025 and 2024 are as follows (in thousands):
April 30, 2025April 30, 2024
Deferred tax liabilities:
Depreciation and amortization$(106)$- 
Deferred compensation, restricted stock(22)(7)
Total deferred tax liabilities(128)(7)
Deferred tax assets:
Depreciation and amortization- 98 
Research and development1,401 1319 
Accounts receivable allowance22 13 
Inventory and other allowances151 97 
Lease right-to-use184 144 
Compensation accruals200 72 
Inventory Capitalization51 - 
Jackpot reserves195 183 
Total deferred tax assets2,204 1,926 
Less valuation allowance- - 
Net deferred tax asset$2,076 $1,919 
The reconciliation of the federal statutory income tax rate to the effective tax rate is as follows:
April 30, 2025April 30, 2024
Statutory federal income tax rate expense21.00 %21.00 %
State income tax, net of federal benefits5.62 %5.97 %
Permanent differences0.66 %0.63 %
Other(2.15 %)(2.28 %)
25.13 %25.32 %
Income tax expense:
Deferred income tax (benefit)$(157)$(446)
Current income tax4,324 4,690 
Total income tax expense$4,167 $4,244 
Current income tax expense of $4,324 and $4,690 are comprised of $3,194 and $3,438 in federal income tax and $1,130 and $1,252 in state income tax for the years ended April 30, 2025 and 2024, respectively.
The Company believes that its income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material adverse effect on its financial condition, results of operations or cashflow. Therefore, no reserve for uncertain income tax position, interest or penalties, have been recorded.
The Company files income tax returns in the U.S. Federal jurisdiction and various state jurisdictions. The Company is no longer subject to U.S. Federal tax examinations for tax years beginning on May 1, 2021 and prior. There are no current tax examinations.