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Income Taxes
3 Months Ended
Jul. 31, 2019
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 13 – INCOME TAXES

 

The Company is an emerging growth company and, prior to its fiscal quarter ended October 31, 2018, had not generated earnings from its operations or pre-tax earnings. During its fiscal year ended April 30, 2019 and 2018, the Company had a consolidated operating loss of $1.1 million and $6.0 million, respectively. During the three months ended July 31, 2019, the Company had a consolidated operating loss of $23,840. The Company believes that it is probable it will utilize all of its available net operating losses in the foreseeable future. Accordingly, the Company recognized a provision for income taxes of $300,000 in the three months ended July 31, 2019.