XML 33 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
LOANS PAYABLE
3 Months Ended 12 Months Ended
Jul. 31, 2017
Apr. 30, 2017
Debt Disclosure [Abstract]    
LOANS PAYABLE
NOTE 7 — LOANS PAYABLE
The following tables summarize outstanding loans payable related to automobiles as of July 31, 2017 and April 30, 2017, respectively: 
 
 
 
 
 
 
 
 
 
 
Stated
 
 
Carrying Value
as of
 
 
Estimated Future Payment
 
 
 
Maturity Date
Interest Rate
April 30, 2017
 
Within 1 Year
 
 
After 1 year
 
0% automobile loan payable
 
 
May 2019 –June 2019
 
 
 
0.0%
 
 
 
 
$
16,000
 
 
 
$
9,000
 
 
$
7,000
 
1% automobile loan payable
 
 
November 2022
 
 
 
1.0%
 
 
 
 
 
22,000
 
 
 
 
 
5,000
 
 
17,000
 
3% automobile loan payable
 
 
November 2022
 
 
 
3.0%
 
 
 
 
 
23,000
 
 
 
 
 
5,000
 
 
18,000
 
4% automobile loan payable
 
 
December 2016 – January 2020
 
 
 
4.0%
 
 
 
 
 
21,000
 
 
 
 
 
8,000
 
13,000
 
5% automobile loan payable
 
 
January 2020 – February 2020
 
 
 
5.0%
 
 
 
 
 
46,000
 
 
 
 
 
17,000
 
 
29,000
 
7% automobile loan payable
 
 
June 2019
 
 
 
7.0%
 
 
 
 
 
22,000
 
 
 
 
 
5,000
 
17,000
 
8% automobile loan payable
 
 
October 2021
 
 
 
8.0%
 
 
 
 
 
14,000
 
 
 
 
 
3,000
 
 
11,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
164,000
 
 
 
 
$
52,000
 
 
$
112,000
 
 
 
 
 
 
 
 
 
Stated
 
 
Carrying Value
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
 
 
NOTE 9 — LOANS PAYABLE
The following tables summarize outstanding loans payable related to automobiles as of April 30, 2017 and 2016, respectively:
Maturity Date
Stated
Interest Rate
Carrying Value
as of
April 30, 2017
Estimated Future Payment
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
 
Maturity Date
Stated
Interest Rate
Carrying Value
as of
April 30, 2016
Estimated Future Payment
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