Quarterly report pursuant to Section 13 or 15(d)

Future Minimum Lease Payments

Future Minimum Lease Payments

9 Months Ended

Jan. 31, 2015

(10) Future Minimum lease payments

Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) as of April 30, 2014 are as follows:

Year ending April 30:	Non-Related Party		Related Party		Total

2015	$	301,000	$	90,000	$	391,000
2016		293,000		90,000		383,000
2017		68,000		90,000		158,000
2018		—		90,000		90,000
2019		—		45,000		45,000
Thereafter		—		—		—
Total	$	662,000	$	405,000	$	1,067,000

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References + Details