Note 4 - Property and Equipment

12 Months Ended

Apr. 30, 2015

Notes

Note 4 - Property and Equipment

NOTE 4 - PROPERTY AND EQUIPMENT

On April 30, 2015 and 2014, property and equipment consisted of the following:

(Estimated Life)	April 30, 2015	April 30, 2014
Office equipment (3-7 Years)	$          66,194	$          58,266
Auto and trucks (5-10 Years)	949,097	929,042
Manufacturing equipment (10-20 Years)	7,415,898	11,987,404
Buildings (20 Years)	10,172,060	10,303,529
Construction in process	536,365	1,284,199
Gross Property and Equipment	19,139,614	24,562,440
Less: accumulated depreciation	(7,054,044)	(9,624,082)
Property and equipment, net	$  12,085,570	$  14,938,358

For fiscal years 2015 and 2014, depreciation expense totaled $2,032,240 and $1,781,938, of which $606,865 and $539,509 was included in cost of revenues, respectively, and of which $1,425,375 and $1,242,429 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.