Debt |
3 Months Ended |
|---|---|
Jul. 31, 2026 | |
| Debt Disclosure [Abstract] | |
| Debt | Debt: At July 31, 2026, the Company has a line of credit with Kansas State Bank in the form of a promissory note with an interest rate of 8.4% totaling $2.0 million. The unused line at July 31, 2026 is $2.0 million. There were no advances or payments made on the line of credit during the quarter ended July 31, 2026. The line of credit is due on demand and is secured by a first and second position on all assets of the Company. At April 30, 2026 there was a note payable with Patriots Bank with a balance of $149 that was fully paid off during the quarter ended July 31, 2026. The first note with Academy Bank, N.A. for $0.8 million is secured by all of BHCMC, LLC’s (“BHCMC”) assets and compensation under the State management contract with an interest rate of 5.75% payable in full over five years. This note matures in October 2026. The second note with Academy Bank, N.A. for $25.2 million is secured by all of BHCMC’s assets and compensation under the State management contract with an interest rate of 4.50% payable in full over seven years, and a balloon payment of $20.6 million in December 2027. These notes contain a covenant to maintain a debt service coverage ratio of 1.3 to 1.0. These notes also contain a liquidity covenant requiring the Company to maintain an aggregate sum of $1.5 million of unrestricted cash. At July 31, 2026, there is a note payable with an interest rate of 8.13% totaling $9 secured by equipment with a net book value of $7. This note matures in April 2027. At July 31, 2026, there is a note payable with Bank of America, N.A. with a balance of $427. The interest rate on this note is at SOFR plus 1.75%. The loan is secured by buildings and improvements having a net book value of $564. This note matures in March 2029. On November 25, 2024, the Company entered into a note agreement with Simmons Bank for $2.0 million with an interest rate of 7.19% payable over five years. At July 31, 2026, the loan balance of $1.62 million is secured by a single aircraft with a net book value of $1.81 million. This note matures in November 2029. The Company is compliant with the covenants and obligations of each of our notes as of July 31, 2026, and September 11, 2026.
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