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Lease (Tables)
6 Months Ended
Oct. 31, 2020
Leases [Abstract]  
Lease Assets And Liabilities Related To Balance Sheet Classification



 

 

 

 

 

 

 



 

 

 

October 31,

 

 

April 30,



Classification

 

 

2020

 

 

2020

Operating Leases:

 

 

 

 

 

 

 

Right-of-use Assets

Other assets

 

$

7,333,290 

 

$

7,235,166 

Operating lease current
liabilities

Current portion of operating lease
obligations

 

 

2,078,990 

 

 

2,150,161 

Operating lease noncurrent
liabilities

Operating lease obligations, less
current portion

 

 

5,457,117 

 

 

5,281,811 

Finance Leases:

 

 

 

 

 

 

 

Right-of-use Assets

Property, plant and equipment

 

 

5,702,281 

 

 

6,443,954 

Finance lease current
liabilities

Current portion of finance lease
obligations

 

 

1,650,763 

 

 

1,902,295 

Finance lease noncurrent
liabilities

Finance lease obligations, less
current portion

 

 

1,124,309 

 

 

1,884,722 



Components Of Lease Expense



 

 

 

 

 

 

 

 

 



 

 

Three Months

 

Three Months

 

Six Months

 

Six Months



 

 

Ended

 

Ended

 

Ended

 

Ended



 

 

October 31,

 

October 31,

 

October 31,

 

October 31,



Classification

 

2020

 

2019

 

2020

 

2019

Operating Leases:

 

 

 

 

 

 

 

 

 

Operating lease cost

Operating expenses

 

353,317 

 

625,339 

 

727,012 

 

1,219,833 

Variable lease cost

Operating expenses

 

78,347 

 

73,897 

 

156,694 

 

147,794 

Short term lease cost

Operating expenses

 

1,350 

 

1,350 

 

2,700 

 

2,700 

Finance Leases:

 

 

 

 

 

 

 

 

 

Amortization of
right-of-use assets

Operating expenses

 

493,042 

 

384,192 

 

912,735 

 

731,567 

Interest expense

Interest expense

 

56,043 

 

74,340 

 

122,401 

 

142,126 

Total

 

 

982,099 

 

1,159,118 

 

1,921,542 

 

2,244,020 



Weighted Average Lease Term And Discount Rate



 

 

 

 



 

October 31,

 

October 31,



 

2020

 

2019

Operating Leases:

 

 

 

 

Weighted average remaining lease term (months)

 

58.40

 

44.20

Weighted average discount rate

 

3.1%

 

3.9%

Finance Leases:

 

 

 

 

Weighted average remaining lease term (months)

 

22.25

 

29.02

Weighted average discount rate

 

7.7%

 

6.5%



Future Payments Due Under Operating and Finance Leases



 

 

 

 

 

 



 

 

Operating Leases

 

 

Finance Leases

For the remaining 6 months of the fiscal year ending April 30:

 

 

 

 

 

 

2021

 

$

1,226,071 

 

$

983,279 

For the fiscal years ending April 30:

 

 

 

 

 

 

2022

 

 

1,638,910 

 

 

1,374,628 

2023

 

 

1,925,251 

 

 

498,307 

2024

 

 

1,822,917 

 

 

167,721 

2025

 

 

635,387 

 

 

 -

2026

 

 

146,489 

 

 

 -

Thereafter

 

 

199,353 

 

 

 -

Total undiscounted lease payments

 

 

7,594,378 

 

 

3,023,935 

Present value discount, less interest

 

 

58,271 

 

 

248,863 

Lease liability

 

$

7,536,107 

 

$

2,775,072 



Supplemental Cash Flow Information Related To Leases



 

 



Six Months

Six Months



Ended

Ended



October 31,

October 31,

Other Information

2020

2019

Cash paid for amounts included in the measurement of lease liabilities

 

 

Operating cash flows from finance leases

122,401  142,126 

Operating cash flows from operating leases

109,917  126,363 

Financing cash flows from finance leases

1,011,945  1,162,403 

Supplemental non-cash information on lease labilities arising from
obtaining right-of-use assets:

 

 

Right-of-use assets obtained in exchange for
new finance lease liabilities

 -

671,446 

Right-of-use assets obtained in exchange for
operating lease liabilities

1,162,451  1,630,006