FINANCING AGREEMENTS (Tables)

12 Months Ended

Apr. 30, 2015

FINANCING AGREEMENTS

Summary of the notes within the financing agreement

		2015		2014
4.05% mortgage note payable in monthly installments of $4,873, including interest, with final payment of $349,000 due January 27, 2019	$	495,000	$	533,000
4.00% line of credit with a maturity date of September 27, 2015		-		-
Borrowings under an equipment financing line of credit:
4.63% note payable in monthly installments of $7,123, including interest, with final payment due September 26, 2015		36,000		116,000
4.75% note payable in monthly installments of $2,269, including interest, with final payment due May 27, 2018		77,000		-
3.75% note payable in monthly installments of $2,112, including interest, with final payment due April 10, 2018		73,000		-
Capital Lease Obligations				2,000
Total long-term debt		681,000		651,000
Less current installments		122,000		124,000
Long-term debt, excluding current installments	$	559,000	$	527,000

Long-term debt maturities by year

Year Ending April 30,	Amount
2016	$	122,000
2017		91,000
2018		95,000
2019		373,000
	$	681,000