Note 5 - Property and Equipment

6 Months Ended

Oct. 31, 2014

Note 5 - Property and Equipment:

Note 5 - Property and Equipment

NOTE 5 - PROPERTY AND EQUIPMENT

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

(Estimated Life)	October 31, 2014 (unaudited)	April 30, 2014
Office equipment (5-7 Years)	$                62,378	$          58,266
Auto and trucks (10 Years)	940,518	929,042
Manufacturing equipment (20 Years)	12,078,334	11,987,404
Buildings (20 Years)	10,350,244	10,303,529
Construction in process	1,805,774	1,284,199
Gross Property and Equipment	25,237,248	24,562,440
Less: accumulated depreciation	(10,650,970)	(9,624,082)
Property and equipment, net	$        14,586,278	$  14,938,358

For the three months ended October 31, 2014 and 2013, depreciation expense totaled $370,869 and $446,949, of which $164,493 and $111,576 was included in cost of revenues, respectively, and of which $206,376 and $335,373 was included in general and administrative expenses, respectively. For the six months ended October 31, 2014 and 2013, depreciation expense totaled $981,661 and $897,034, of which $281,678 and $306,691 was included in cost of revenues, respectively, and of which $699,983 and $590,343 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.