| Property and Equipment |
Note 4. Property and Equipment
Property and equipment consisted of the following at January 31, 2015 and April 30, 2014:
| |
|
|
|
|
|
|
|
|
|
| |
|
January 31, |
|
April 30, |
|
| |
|
2015 |
|
2014 |
|
|
Call center hardware
|
|
$ |
132,798 |
|
$ |
122,653 |
|
|
Computer and office equipment
|
|
|
73,286 |
|
|
66,118 |
|
|
Furniture and fixtures
|
|
|
42,698 |
|
|
36,446 |
|
|
Library (online)
|
|
|
100,000 |
|
|
100,000 |
|
|
Software
|
|
|
2,147,783 |
|
|
1,894,215 |
|
| |
|
|
2,496,565 |
|
|
2,219,432 |
|
|
Accumulated depreciation and amortization
|
|
|
(1,268,502) |
|
|
(938,703) |
|
|
Property and equipment, net
|
|
$ |
1,228,063 |
|
$ |
1,280,729 |
|
Software consisted of the following at January 31, 2015 and April 30, 2014:
| |
|
|
|
|
|
|
|
|
|
| |
|
January 31,
|
|
April 30, |
|
| |
|
2015 |
|
2014 |
|
|
Software
|
|
$ |
2,147,783 |
|
$ |
1,894,215 |
|
|
Accumulated amortization
|
|
|
(1,021,466) |
|
|
(720,823) |
|
|
Software, net
|
|
$ |
1,126,317 |
|
$ |
1,173,392 |
|
Amortization expense for all Property and Equipment as well as the portion for just software is presented for the three and nine months ended January 31, 2015 and 2014:
| |
For the |
|
For the |
| |
Three Months Ended |
|
Nine Months Ended |
| |
January 31, |
|
January 31, |
| |
2015 |
|
2014 |
|
2015 |
|
2014 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization Expense
|
|
114,559 |
|
|
96,879 |
|
|
329,799 |
|
|
267,762 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Software Amortization Expense
|
|
104,441 |
|
|
87,610 |
|
|
300,642 |
|
|
242,259 |
| |
|
|
|
|
|
|
|
|
|
|
|
The following is a schedule of estimated future amortization expense of software at January 31, 2015:
| |
|
|
|
|
|
Year Ending April 30,
|
|
|
|
|
2015
|
|
$ |
107,389 |
|
|
2016
|
|
|
428,711 |
|
|
2017
|
|
|
305,979 |
|
|
2018
|
|
|
172,944 |
|
|
2019
|
|
|
111,294 |
|
|
Total
|
|
$ |
1,126,317 |
|
|