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Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.2
Property and Equipment
 3 Months Ended
Jul. 31, 2020
Property, Plant and Equipment [Abstract] 听
Property and Equipment Property and Equipment
As property and equipment reach the end of their useful lives, the fully expired assets are written off against the associated accumulated depreciation. There is no expense impact for such write offs.
Property and equipment consisted of the following at July听31, 2020 and April听30, 2020:
July 31,
2020		 April 30,
2020
Computer equipment and hardware $ 690,114听 $ 649,927听
Furniture and fixtures 1,007,099听 1,007,099听
Leasehold improvements 892,279听 867,024听
Instructional equipment 301,842听 301,842听
Software 6,792,594听 6,162,770听
9,683,928听 8,988,662听
Accumulated depreciation and amortization (3,314,448) (2,841,019)
Property and equipment, net $ 6,369,480听 $ 6,147,643听
Software consisted of the following at July听31, 2020 and April听30, 2020:
July 31,
2020		 April 30,
2020
Software $ 6,792,594听 $ 6,162,770听
Accumulated amortization (2,365,847) (2,049,809)
Software, net $ 4,426,747听 $ 4,112,961听
Depreciation and amortization expense for property and equipment as well as the portion for just software amortization is presented below for the three months ended July听31, 2020 and 2019:
Three Months Ended
July 31,
2020 2019
Depreciation and amortization expense $ 478,677听 $ 312,432听
Software amortization expense $ 315,107听 $ 170,189听
The following is a schedule of estimated future amortization expense of software at July听31, 2020 (by fiscal year):
Future Expense
2021 (remaining) $ 977,172听
2022 1,223,745听
2023 1,062,864听
2024 775,078听
2025 363,858听
Thereafter 24,030听
Total $ 4,426,747听