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Note 5 - Property and Equipment

9 Months Ended

Jan. 31, 2014

NOTE 5 - PROPERTY AND EQUIPMENT

At January 31, 2014 and April 30, 2013, property and equipment consisted of the following:

(Estimated Life)	January 31, 2014 (Unaudited)	April 30, 2013
Office Equipment (5-7 Years)	$ 55,282	$ 48,741
Auto and Trucks (10 Years)	936,520	907,480
Manufacturing Equipment (20 Years)	12,083,165	11,687,057
Buildings (20 Years)	10,401,306	10,192,769
Construction in Process	734,772	668,330
Property and Equipment, gross	24,211,045	23,504,377
Less: Accumulated Depreciation	(9,274,412)	(7,778,993)
Property and equipment, net	$ 14,936,633	$ 15,725,384

For the nine months ended January 31, 2014 and 2013, depreciation expense totaled $1,346,728 and $1,240,136, respectively. Depreciation is not taken during the period of construction or equipment installation. Upon completion of the installation of manufacturing equipment or any construction in progress, construction in progress balances will be classified to their respective property and equipment category.

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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