FINANCING AGREEMENTS (Tables)

9 Months Ended

Jan. 31, 2016

FINANCING AGREEMENTS

Summary of the notes within the financing agreement

		January 31, 2016		April 30, 2015
4.05% mortgage note payable in monthly installments of $4,873, including interest, with final payment of $349,000 due January 27, 2019	$	466,000	$	495,000
4.00% line of credit with a maturity date of September 27, 2016		-		-
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
4.75% note payable in monthly installments of $2,269, including interest, with final payment due May 27, 2018		59,000		77,000
3.75% note payable in monthly installments of $2,112, including interest, with final payment due April 10, 2018		55,000		73,000
Total long-term debt		580,000		681,000
Less current installments		89,000		122,000
Long-term debt, excluding current installments	$	491,000	$	559,000