Debt Obligations

12 Months Ended

Apr. 30, 2021

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

8.           Debt Obligations

As of April 30, 2021, the Company had available credit with UBS Bank USA at variable terms based on its securities holdings under an advisory arrangement, under which no borrowings have been made. On April 12, 2020, the Company received proceeds from a loan in the amount of $4,964,810 (the “PPP Loan”) from JPMorgan Chase Bank, N.A. as the lender, pursuant to the Small Business Administration Paycheck Protection Program under the CARES Act. The PPP Loan was repaid in full on May 6, 2020.