Property and equipment |
Property and equipment consisted of the following at July 31, 2013 and April 30, 2013:
| | | | | | | | |
| | July 31, | | | April 30, | |
| | 2013 | | | 2013 | |
Call center equipment | | $ | 121,313 | | | $ | 121,313 | |
Computer and office equipment | | | 64,336 | | | | 61,036 | |
Furniture and fixtures | | | 32,914 | | | | 32,914 | |
Library (online) | | | 100,000 | | | | 100,000 | |
Software | | | 1,619,226 | | | | 1,518,142 | |
| | | 1,937,789 | | | | 1,833,405 | |
Accumulated depreciation and amortization | | | (648,629 | ) | | | (569,665 | ) |
Property and equipment, net | | $ | 1,289,160 | | | $ | 1,263,740 | |
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Property and equipment consisted of the following at April 30, 2013 and December 31, 2012 and 2011:
| | | | | | | | | | | | |
| | April 30, | | | December 31, | |
| | 2013 | | | 2012 | | | 2011 | |
Call center equipment | | $ | 121,313 | | | $ | 121,313 | | | $ | 121,313 | |
Computer and office equipment | | | 61,036 | | | | 45,718 | | | | 38,577 | |
Furniture and fixtures | | | 32,914 | | | | 11,336 | | | | - | |
Library (online) | | | 100,000 | | | | 100,000 | | | | 100,000 | |
Software | | | 1,518,142 | | | | 1,388,824 | | | | 927,455 | |
Vehicle | | | - | | | | - | | | | 39,736 | |
| | | 1,833,405 | | | | 1,667,191 | | | | 1,227,081 | |
Accumulated depreciation and amortization | | | (569,665 | ) | | | (455,871 | ) | | | (229,972 | ) |
Property and equipment, net | | $ | 1,263,740 | | | $ | 1,211,320 | | | $ | 997,109 | |
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Amortization expense |
Software consisted of the following at July 31, 2013 and April 30, 2013:
| | | | | | | | |
| | July 31, | | | April 30, | |
| | 2013 | | | 2013 | |
Software | | $ | 1,619,226 | | | $ | 1,518,142 | |
Accumulated amortization | | | (458,519 | ) | | | (386,599 | ) |
Software, net | | $ | 1,160,707 | | | $ | 1,131,543 | |
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Software consisted of the following at April 30, 2013, December 31, 2012 and 2011:
| | | | | | | | | | | | |
| | April 30, | | | December 31, | |
| | 2013 | | | 2012 | | | 2011 | |
Software | | $ | 1,518,142 | | | $ | 1,388,824 | | | $ | 927,455 | |
Accumulated amortization | | | (386,599 | ) | | | (286,744 | ) | | | (60,290 | ) |
Software, net | | $ | 1,131,543 | | | $ | 1,102,080 | | | $ | 867,165 | |
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Schedule of estimated future amortization expense |
The following is a schedule of estimated future amortization expense of software at July 31, 2013:
| | | | |
Year Ending April 30, | | | |
2014 | | $ | 242,884 | |
2015 | | | 323,845 | |
2016 | | | 322,999 | |
2017 | | | 200,267 | |
2018 | | | 70,712 | |
Total | | $ | 1,160,707 | |
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Estimated future amortization expense of software as of April 30, 2013, is as follows:
| | | | |
Year Ending April 30, | | | |
2014 | | $ | 303,629 | |
2015 | | | 303,629 | |
2016 | | | 302,782 | |
2017 | | | 180,050 | |
2018 | | | 41,453 | |
Total | | $ | 1,131,543 | |
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