| Property and Equipment |
Note 4. Property and Equipment
Property and equipment consisted of the following at October 31, 2014 and April 30, 2014:
| |
|
|
|
|
|
|
|
|
|
| |
|
October 31, |
|
April 30, |
|
| |
|
2014 |
|
2014 |
|
|
Call center equipment
|
|
|
132,109 |
|
$ |
122,653 |
|
|
Computer and office equipment
|
|
|
69,780 |
|
|
66,118 |
|
|
Furniture and fixtures
|
|
|
36,446 |
|
|
36,446 |
|
|
Library (online)
|
|
|
100,000 |
|
|
100,000 |
|
|
Software
|
|
|
2,061,563 |
|
|
1,894,215 |
|
| |
|
|
2,399,898 |
|
|
2,219,432 |
|
|
Accumulated depreciation and amortization
|
|
|
(1,153,943)
|
|
|
(938,703)
|
|
|
Property and equipment, net
|
|
$ |
1,245,955 |
|
$ |
1,280,729 |
|
Software consisted of the following at October 31, 2014 and April 30, 2014:
| |
|
|
|
|
|
|
|
|
|
| |
|
October 31,
|
|
April 30, |
|
| |
|
2014 |
|
2014 |
|
|
Software
|
|
$ |
2,061,563 |
|
$ |
1,894,215 |
|
|
Accumulated amortization
|
|
|
(917,024)
|
|
|
(720,823)
|
|
|
Software, net
|
|
$ |
1,144,539 |
|
$ |
1,173,392 |
|
Amortization expense for all Property and Equipment as well as the portion for just software is presented for the three and six months ended October 31, 2014 and 2013:
| |
For the |
|
For the |
| |
Three Months Ended |
|
Six Months Ended |
| |
October 31, |
|
October 31, |
| |
2014 |
|
2013 |
|
2014 |
|
2013 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization Expense
|
$ |
109,845 |
|
$ |
92,190 |
|
$ |
215,240 |
|
$ |
170,884 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Software Amortization Expense
|
|
100,224 |
|
|
82,729 |
|
|
196,201 |
|
|
154,648 |
| |
|
|
|
|
|
|
|
|
|
|
|
The following is a schedule of estimated future amortization expense of software at October 31, 2014:
| |
|
|
|
|
|
Year Ending April 30,
|
|
|
|
|
2015
|
|
$ |
206,156 |
|
|
2016
|
|
|
411,467 |
|
|
2017
|
|
|
288,735 |
|
|
2018
|
|
|
155,700 |
|
|
2019
|
|
|
82,481 |
|
|
Total
|
|
$ |
1,144,539 |
|
|