Leases (Tables)

9 Months Ended

Jan. 31, 2020

Lessee Disclosure [Abstract]

Future Minimum Payments Under Operating Leases

The following is a schedule by years of future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of January 31, 2020 ^(a).

Maturity of Lease Obligations	Lease Payments
2020 (remaining)	$	593,925
2021	2,383,783
2022	2,225,348
2023	1,663,434
2024	1,474,175
2025	1,134,718
2026 and beyond	779,287
Total future minimum lease payments	10,254,670
Less imputed interest	(2,561,402)
Present value of operating lease obligations	$	7,693,268

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(a) Lease payments exclude $4.3 million of legally binding minimum lease payments for the new Aspen University BSN Pre-Licensure campus location in Austin, Texas lease signed but not yet commenced. Prior to commencing its Austin campus operations, Aspen is required to obtain approvals from the Texas Board of Nursing, the Texas Higher Education Coordinating Board, and the Texas Workforce Commission.

Schedule of Balance Sheet Information Related to Leases

Balance Sheet Classification
Operating lease obligations, current	$	1,649,934
Operating lease obligations, long-term	6,043,334
Total operating lease obligations	$	7,693,268

Schedule of Other Information Related to Leases

Other Information
Weighted average remaining lease term (in years)	4.9
Weighted average discount rate	12.06	%