Commitments, Contingencies, and Related Party Transactions

12 Months Ended

Apr. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies, and Related Party Transactions

7. Commitments, Contingencies, and Related Party Transactions

The Company leases a building from Bonita Risk. Bonita Risk is a majority stockholder, a director and employee of the Company. This building contains the Company’s sales and accounting departments, maintenance department, engineering department and some production facilities. This lease requires a minimum payment of $1,535 on a month-to-month basis. The total lease expense for this arrangement was $18,420 for the fiscal years ended April 30, 2017 and 2016.

One of the directors of the board, Joel Wiens, is the principal shareholder of FirsTier Bank. FirsTier Bank is the financial institution the Company uses for its day to day banking operations. Year end balances of accounts held at this bank are $5,820,000 for the year ended April 30, 2017 and $4,304,000 for the year ended April 30, 2016. The Company also received interest income from FirsTier Bank in the amount of approximately $4,900 for the year ended April 30, 2017 and $1,500 for the year ended April 30, 2016.