Note 5 - Property and Equipment

3 Months Ended

Jul. 31, 2014

Note 5 - Property and Equipment:

Note 5 - Property and Equipment

NOTE 5 - PROPERTY AND EQUIPMENT

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

(Estimated Life)	July 31, 2014 (unaudited)	April 30, 2014
Office Equipment (5-7 Years)	$                58,216	$          58,266
Auto and Trucks (10 Years)	928,262	929,042
Manufacturing Equipment (20 Years)	12,011,777	11,987,404
Buildings (20 Years)	10,294,687	10,303,529
Construction in Process	1,720,154	1,284,199
Gross Property and Equipment	25,013,096	24,562,440
Less: Accumulated Depreciation	(10,226,723)	(9,624,082)
Property and equipment, net	$        14,786,373	$  14,938,358

For the three months ended July 31, 2014 and 2013, depreciation expense totaled $610,792 and $450,085, respectively, of which $131,512 and $139,145 was included in cost of revenues, respectively, of which $479,280 and $310,940 was included in general and administrative expenses, 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.