桃汁影院, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Jul. 31, 2020

Property, Plant and Equipment [Abstract]

听

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