FINANCING AGREEMENTS (Tables)

9 Months Ended

Jan. 31, 2019

FINANCING AGREEMENTS

Summary of the notes within the financing agreement

		January 31, 2019		April 30, 2018
6.25% asset-based line of credit with a maturity date of October 19, 2019	$	1,028,000	$	-
6.25% guidance line of credit with a maturity date of October 19, 2019		54,000		-
5.35% mortgage note payable in monthly installments of $5,573, including interest, with final payment of $690,829 due October 19, 2023		800,000		-
Capital lease obligations (see Note 12)		117,000		170,000
4.05% mortgage note payable in monthly installments of $4,873, including interest, with final payment of $349,000 due January 27, 2019		-		373,000
4.00% working capital line of credit with a maturity date of October 20, 2018		-		751,000
4.00% building line of credit with a maturity date of October  20, 2018		-		465,000
Borrowings under an equipment financing line of credit:
4.75% note payable in monthly installments of $2,269, including interest, with final payment made on May 27, 2018		-		2,000
4.05% note payable in monthly installments of $3,680, including interest, with final payment due January 10, 2020		-		75,000
Total long-term debt		1,999,000		1,836,000
Less current installments		1,173,000		1,706,000
Long-term debt, excluding current installments	$	826,000	$	130,000

Schedule of letter of credit outstanding balance

Date of Reduction		Amount of Reduction		Balance of Letter of Credit
January 1, 2020	$	75,000	$	225,000
January 1, 2021		75,000		150,000
January 1, 2022		75,000		75,000
January 1, 2023		75,000		-