INCOME TAXES	6 Months Ended
Oct. 31, 2019
INCOME TAXES
INCOME TAXES	NOTE 7—INCOME TAXES The Company incurred income tax expense of $75,000 and $186,000 during the three and six months ended October 31, 2019, respectively, with an effective tax rate of 19.1% and 19.9%, respectively, compared to income tax expense of $15,000 during the three months ended October 31, 2018 and no income tax expense or benefit for the six months ended October 31, 2018. As of October 31, 2019, the federal tax returns for the fiscal years ended 2017 through 2019 are open to audit until the statute of limitations closes for the years in which our net operating losses are utilized. We would recognize interest and penalties accrued on unrecognized tax benefits as well as interest received from favorable tax settlements within income tax expense. As of October 31, 2019, we recorded no accrued interest or penalties related to uncertain tax positions. We expect no significant change in the amount of unrecognized tax benefit, accrued interest or penalties within the next twelve months.

INCOME TAXES

6 Months Ended

Oct. 31, 2019

NOTE 7—INCOME TAXES

The Company incurred income tax expense of $75,000 and $186,000 during the three and six months ended October 31, 2019, respectively, with an effective tax rate of 19.1% and 19.9%, respectively, compared to income tax expense of $15,000 during the three months ended October 31, 2018 and no income tax expense or benefit for the six months ended October 31, 2018.

As of October 31, 2019, the federal tax returns for the fiscal years ended 2017 through 2019 are open to audit until the statute of limitations closes for the years in which our net operating losses are utilized. We would recognize interest and penalties accrued on unrecognized tax benefits as well as interest received from favorable tax settlements within income tax expense. As of October 31, 2019, we recorded no accrued interest or penalties related to uncertain tax positions. We expect no significant change in the amount of unrecognized tax benefit, accrued interest or penalties within the next twelve months.