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LOANS PAYABLE
12 Months Ended
Apr. 30, 2017
Debt Disclosure [Abstract]  
LOANS PAYABLE
NOTE 9 – LOANS PAYABLE
 
The following tables summarize outstanding loans payable related to automobiles as of April 30, 2017 and 2016, respectively:
 
 
 
 
 
 
 
Carrying Value
 
 
 
 
 
 
 
 
 
Stated
 
as of
 
Estimated Future Payment
 
 
 
Maturity Date
 
Interest Rate
 
April 30, 2017
 
Within 1 Year
 
After 1 year
 
0% automobile loan payable
 
April 2018 - June 2019
 
 
0.0
%
$
18,000
 
$
9,000
 
$
9,000
 
1% automobile loan payable
 
November 2022
 
 
1.0
%
 
23,000
 
 
5,000
 
 
18,000
 
3% automobile loan payable
 
November 2022
 
 
3.0
%
 
24,000
 
 
5,000
 
 
19,000
 
4% automobile loan payable
 
December 2016 - January 2020
 
 
4.0
%
 
25,000
 
 
9,000
 
 
16,000
 
5% automobile loan payable
 
January 2020 - February 2020
 
 
5.0
%
 
50,000
 
 
17,000
 
 
33,000
 
7% automobile loan payable
 
June 2019
 
 
7.0
%
 
23,000
 
 
5,000
 
 
18,000
 
8% automobile loan payable
 
October 2021
 
 
8.0
%
 
15,000
 
 
3,000
 
 
12,000
 
 
 
 
 
 
 
 
$
178,000
 
$
53,000
 
$
125,000
 
 
 
 
 
 
 
 
Carrying Value
 
 
 
 
 
 
 
 
 
Stated
 
as of
 
Estimated Future Payment
 
 
 
Maturity Date
 
Interest Rate
 
April 30, 2016
 
Within 1 Year
 
After 1 year
 
0% automobile loan payable
 
April 2018 - May 2019
 
 
0.0
%
$
25,000
 
$
10,000
 
$
15,000
 
4% automobile loan payable
 
August 2016 - January 2020
 
 
4.0
%
 
58,000
 
 
28,000
 
 
30,000
 
5% automobile loan payable
 
January 2020 - February 2020
 
 
5.0
%
 
66,000
 
 
16,000
 
 
50,000
 
 
 
 
 
 
 
 
$
149,000
 
$
54,000
 
$
95,000