桃汁影院, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Apr. 30, 2021

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 and amortization. There is no expense impact for such write offs.

Property and equipment consisted of the following at April听30, 2021 and 2020:


	April 30,
	2021		2020
Computer equipment and hardware	$	956,463听	$	649,927听
Furniture and fixtures	1,705,101听		1,007,099听
Leasehold improvements	5,729,324听		867,024听
Instructional equipment	421,039听		301,842听
Software	8,488,635听		6,162,770听
Construction in progress	247,767听		鈥斕�
	17,548,329听		8,988,662听
听听听Less: accumulated depreciation and amortization	(4,892,987)		(2,841,019)
Property and equipment, net	$	12,655,342听	$	6,147,643听

Software consisted of the following at April听30, 2021 and 2020:


	April 30,
	2021		2020
Software	$	8,488,635听	$	6,162,770听
Accumulated amortization	(3,444,325)		(2,049,809)
Software, net	$	5,044,310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 years ended April听30, 2021 and 2020:


	Years Ended April 30,
	2021		2020
Depreciation and amortization expense	$	2,381,656听	$	1,497,470听
Software amortization expense	$	1,405,756听	$	1,013,466听

The following is a schedule of estimated future amortization expense of software at April听30, 2021 (by fiscal year):


	Future Expense
2022	$	1,562,515听
2023	1,401,634听
2024	1,111,974听
2025	707,172听
2026	251,568听
Thereafter	9,447听
Total	$	5,044,310听