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Notes Payable
3 Months Ended
Jul. 31, 2019
Debt Disclosure [Abstract]  
Notes Payable

NOTE 9 - NOTES PAYABLE

 

As of July 31, 2019 and April 30, 2019, notes payable, consisting of short-term borrowings under financing arrangements with third-party institutions, in the aggregate, were $744,635 and $2,123,208, net of unamortized debt discount of $70,059 and $379,777, respectively. Borrowings under the financing arrangements are secured by a lien on the Company’s accounts receivable, inventory and property and equipment.

 

In the three months ended July 31, 2019, the Company repaid borrowings under financing arrangements aggregating $1,688,292, excluding interest of $273,402.