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Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
 6 Months Ended
Oct. 31, 2020
Leases [Abstract] Ìý
Schedule of Right-of-Use Assets and Operating Lease Liabilities ROU assets is summarized below:
October 31, 2020
Operating office leases $ 13,124,796Ìý
Less accumulated reduction (5,315,307)
Balance of ROU assets as of October 31, 2020 $ 7,809,489Ìý
Operating lease obligations, related to the ROU assets is summarized below:
October 31, 2020
Operating office leases $ 14,108,820Ìý
Total lease liabilities 14,108,820Ìý
Reduction of lease liabilities (5,343,595)
Total as of October 31, 2020 $ 8,765,225Ìý
Future Minimum Payments Under Operating Leases
The following is a schedule by fiscal years of future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of OctoberÌý31, 2020 (a).
Maturity of Lease Obligations Lease Payments
2021 (remaining) $ 1,311,675Ìý
2022 2,488,590Ìý
2023 1,862,992Ìý
2024 1,631,102Ìý
2025 1,303,970Ìý
2026 and beyond 4,075,303Ìý
Total future minimum lease payments 12,673,632Ìý
Less imputed interest (3,908,407)
Present value of operating lease obligations $ 8,765,225Ìý
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(a) Lease payments exclude legally binding minimum lease payments for campus leases signed but not yet commenced for the following locations: $10.2Ìýmillion in Tampa, Florida, $3.9Ìýmillion in Phoenix, Arizona, and $4.3Ìýmillion in Austin, Texas.
Schedule of Balance Sheet Information Related to Leases
Balance Sheet Classification
Operating lease obligations, current $ 1,670,277Ìý
Operating lease obligations, long-term 7,094,948Ìý
Total operating lease obligations $ 8,765,225Ìý
Schedule of Other Information Related to Leases
Other Information
Weighted average remaining lease term (in years) 6.29
Weighted average discount rate 12.00Ìý %