George Risk Industries (RSKIA) 10-K 31 Jul 23 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Apr. 30, 2023	Jul. 31, 2023	Jul. 28, 2023
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Apr. 30, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--04-30
Entity File Number	000-05378
Entity Registrant Name	George Risk Industries, Inc.
Entity Central Index Key	0000084112
Entity Tax Identification Number	84-0524756
Entity Incorporation, State or Country Code	CO
Entity Address, Address Line One	802 South Elm St.
Entity Address, City or Town	Kimball
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	69145
City Area Code	308
Local Phone Number	235–4645
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 21,926,000
Entity Common Stock, Shares Outstanding		4,928,508
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Auditor Name	Haynie and Company
Auditor Location	Littleton, CO
Auditor Firm ID	457
Class A Common Stock, $0.10 par value
Title of 12(b) Security	Class A Common Stock, $0.10 par value
Trading Symbol	RSKIA
Convertible Preferred Stock, $20 stated value
Title of 12(b) Security	Convertible Preferred Stock, $20 stated value
Trading Symbol	RSKIA

Balance Sheets

Balance Sheets - USD ($)	Apr. 30, 2023	Apr. 30, 2022
Current Assets:
Cash and cash equivalents	$ 4,943,000	$ 6,078,000
Investments and securities	31,363,000	30,979,000
Accounts receivable:
Trade, net of allowance for credit losses of $17,922 and $33,531 for 2023 and 2022, respectively	3,503,000	4,114,000
Other	59,000	16,000
Income tax overpayment	403,000
Inventories, net	11,443,000	7,940,000
Prepaid expenses	651,000	1,362,000
Total Current Assets	52,365,000	50,489,000
Property and Equipment, at cost, net	1,997,000	1,782,000
Other Assets
Investment in Limited Land Partnership, at cost	344,000	344,000
Projects in process	83,000	83,000
Other	13,000	62,000
Total Other Assets	440,000	489,000
Intangible Assets, net	1,149,000	1,271,000
TOTAL ASSETS	55,951,000	54,031,000
Current Liabilities
Accounts payable, trade	546,000	320,000
Dividends payable	2,565,000	2,296,000
Deferred income	43,000
Accrued expenses	421,000	354,000
Income tax payable		277,000
Total Current Liabilities	3,575,000	3,247,000
Long-Term Liabilities
Deferred income taxes	1,727,000	1,742,000
Total Long-Term Liabilities	1,727,000	1,742,000
Total Liabilities	5,302,000	4,989,000
Commitments and Contingencies
Stockholders’ Equity
Convertible preferred stock, 1,000,000 shares authorized, Series 1—noncumulative, $20 stated value, 25,000 shares authorized, 4,100 issued and outstanding	99,000	99,000
Common stock, Class A, $.10 par value, 10,000,000 shares authorized, 8,502,881 shares issued and outstanding	850,000	850,000
Additional paid-in capital	1,934,000	1,934,000
Accumulated other comprehensive income (loss)	(161,000)	(137,000)
Retained earnings	52,481,000	50,843,000
Less: treasury stock, 3,572,338 and 3,571,693 shares, at cost	(4,554,000)	(4,547,000)
Total Stockholders’ Equity	50,649,000	49,042,000
TOTAL LIABILITES AND STOCKHOLDERS’ EQUITY	$ 55,951,000	$ 54,031,000

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Apr. 30, 2023	Apr. 30, 2022
Accounts receivable, allowance for credit loss, current	$ 17,922	$ 33,531
Convertible preferred stock, shares authorized	1,000,000	1,000,000
Class A common stock, par value	$ 0.10	$ 0.10
Class A common stock, shares authorized	10,000,000	10,000,000
Class A common stock, shares issued	8,502,881	8,502,881
Class A common stock, shares outstanding	8,502,881	8,502,881
Treasury stock, shares	3,572,338	3,571,693
Noncumulative Preferred Stock [Member]
Convertible preferred stock, shares authorized	25,000	25,000
Convertible preferred stock, stated value	$ 20	$ 20
Convertible preferred stock, shares issued	4,100	4,100
Convertible preferred stock, shares outstanding	4,100	4,100

Income Statements

Income Statements - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Income Statement [Abstract]
Net Sales	$ 19,979,000	$ 20,735,000
Less: Cost of Goods Sold	(10,605,000)	(10,720,000)
Gross Profit	9,374,000	10,015,000
Operating Expenses:
General and Administrative	1,380,000	1,426,000
Selling	2,836,000	2,857,000
Engineering	98,000	84,000
Total Operating Expenses	4,314,000	4,367,000
Income From Operations	5,060,000	5,648,000
Other Income (Expense)
Other Income	6,000	16,000
Dividend and Interest Income	1,068,000	1,027,000
Unrealized (Loss) on Equity Securities	(31,000)	(2,764,000)
Gain (Loss) on Sale of Investment	(291,000)	414,000
Gain on Sale of Assets	3,000
Total Other Income (Expense)	755,000	(1,307,000)
Income Before Provisions for Income Taxes	5,815,000	4,341,000
Provisions for Income Taxes
Current Expense	1,226,000	1,669,000
Deferred tax (benefit)	(168,000)	(894,000)
Total Income Tax Expense	1,058,000	775,000
Net Income	$ 4,757,000	$ 3,566,000
Earnings Per Share of Common Stock
Basic	$ 0.96	$ 0.72
Diluted	$ 0.96	$ 0.72
Weighted Average Number of Common Shares Outstanding (Basic)	4,930,835	4,941,825
Weighted Average Number of Common Shares Outstanding (Diluted)	4,951,335	4,962,325

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Income Statement [Abstract]
Net Income	$ 4,757,000	$ 3,566,000
Unrealized (loss) on debt securities:
Unrealized holding (losses) arising during period	(33,000)	(344,000)
Income tax benefit related to other comprehensive income	9,000	99,000
Other Comprehensive (Loss)	(24,000)	(245,000)
Comprehensive Income	$ 4,733,000	$ 3,321,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($)	Preferred Stock [Member]	Common Stock Class A [Member]	Additional Paid-in Capital [Member]	Treasury Stock (Common Class A) [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balances at Apr. 30, 2021	$ 99,000	$ 850,000	$ 1,934,000	$ (4,336,000)	$ 108,000	$ 49,749,000	$ 48,404,000
Balance, shares at Apr. 30, 2021	4,100	8,502,881		3,556,412
Purchases of common stock				$ (211,000)			(211,000)
Dividend declared at $0.60 per common share outstanding						(2,472,000)	(2,472,000)
Unrealized gain (loss), net of tax effect					(245,000)		(245,000)
Net Income						3,566,000	3,566,000
Prior period adjustment for provisions related to depreciation
Purchases of common stock, shares				15,281
Balance at Apr. 30, 2022			1,934,000	$ (4,547,000)	(137,000)	50,843,000	49,042,000
Balance, shares at Apr. 30, 2022	4,100	8,502,881		3,571,693
Purchases of common stock				$ (7,000)			(7,000)
Dividend declared at $0.60 per common share outstanding						(2,958,000)	(2,958,000)
Unrealized gain (loss), net of tax effect					(24,000)		(24,000)
Net Income						4,757,000	4,757,000
Prior period adjustment for provisions related to depreciation						(161,000)	(161,000)
Purchases of common stock, shares				645
Balance at Apr. 30, 2023	$ 99,000	$ 850,000	$ 1,934,000	$ (4,554,000)	$ (161,000)	$ 52,481,000	$ 50,649,000
Balance, shares at Apr. 30, 2023	4,100	8,502,881		3,572,338

Statements of Stockholders' E_2

Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividend declared for per common share outstanding	$ 0.60	$ 0.50

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Cash Flows From Operating Activities:
Net Income	$ 4,757,000	$ 3,566,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	445,000	435,000
Realized (gain) loss on sale of investments	224,000	(414,000)
Impairment on investments	67,000
Unrealized loss on equity securities	31,000	2,764,000
Provision for credit losses on accounts receivable	(16,000)	24,000
Reserve for obsolete inventory	100,000	113,000
(Gain) on sale of assets	(3,000)
Deferred income taxes	(167,000)	(894,000)
(Increase) decrease in:
Accounts receivable	627,000	(326,000)
Inventories	(3,604,000)	(2,430,000)
Prepaid expenses	761,000	(903,000)
Other receivables	(43,000)
Income tax overpayment	(680,000)
Increase (decrease) in:
Accounts payable	226,000	(157,000)
Accrued expenses	111,000	(5,000)
Income tax payable		196,000
Net cash from operating activities	2,836,000	1,969,000
Cash Flows From Investing Activities:
Proceeds from sale of assets	12,000
(Purchase) of property and equipment	(548,000)	(390,000)
Proceeds from sale of marketable securities	25,000	452,000
(Purchase) of marketable securities	(764,000)	(787,000)
(Purchase) of long-term investment		(24,000)
Net cash from investing activities	(1,275,000)	(749,000)
Cash Flows From Financing Activities:
(Purchase) of treasury stock	(7,000)	(211,000)
Dividends paid	(2,689,000)	(2,257,000)
Net cash from financing activities	(2,696,000)	(2,468,000)
Net Change in Cash and Cash Equivalents	(1,135,000)	(1,248,000)
Cash and Cash Equivalents, beginning of year	6,078,000	7,326,000
Cash and Cash Equivalents, end of year	4,943,000	6,078,000
Supplemental Disclosure for Cash Flow Information:
Income taxes paid	2,070,000	1,575,000
Interest expense
Cash receipts for:
Income taxes	$ 176,000	$ 114,000

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policies	12 Months Ended
	Apr. 30, 2023
Accounting Policies [Abstract]
Nature of Business and Summary of Significant Accounting Policies	1. Nature of Business and Summary of Significant Accounting Policies George Risk Industries, Inc. (GRI or the Company) was incorporated in 1967 in Colorado. The Company is presently engaged in the design, manufacture, and sale of custom computer keyboards, proximity switches, security alarm components and systems, pool access alarms, EZ Duct wire covers, water sensors, electronic switching devices, high security switches, and wire and cable installation tools. Nature of Business Cash and Cash Equivalents Accounts Receivable and Allowance for Estimated Credit Losses The Company maintains an allowance for estimated credit losses related to accounts receivable for future expected credit losses resulting from the inability or unwillingness of our customers to make required payments. We estimate our allowance for credit losses based on relevant information such as historical experience, current conditions, and future expectation of specifically identified customer balances. This allowance is adjusted as appropriate to reflect current conditions. The Company has recorded an allowance for estimated credit losses of $ 17,922 33,531 17,171 24,199 Concentrations of Credit Risk Inventories 1. Nature of Business and Summary of Significant Accounting Policies, continued Property and Equipment Schedule of Property and Equipment Classification Useful Life 2023 2022 Dies, jigs, and molds 3 7 $ 1,871,000 $ 1,855,000 Machinery and equipment 5 10 2,632,000 2,224,000 Furniture and fixtures 5 10 222,000 222,000 Improvements 5 32 605,000 541,000 Buildings 20 39 1,151,000 1,151,000 Automotive 3 5 126,000 110,000 Software 2 5 425,000 425,000 Land N/A 80,000 80,000 Total 7,112,000 6,608,000 Property and equipment, gross 7,112,000 6,608,000 Accumulated depreciation (5,115,000 ) (4,826,000 ) Property and equipment, net $ 1,997,000 $ 1,782,000 Depreciation expense of $ 323,000 312,000 Maintenance and repairs are charged to expense as incurred, and expenditures for major improvements are capitalized. When assets are retired or otherwise disposed of, the property accounts are relieved of costs and accumulated depreciation and any resulting gain or loss is credited or charged to operations. Investment in Limited Land Partnership the Company purchased 6.67% of a prime 22-acre land parcel for development in Winter Park-Grand County, CO for investment purposes for a total of $ 200,000 2 5 144,000 Intangible Assets 15 1,149,000 1,271,000 122,000 123,000 1. Nature of Business and Summary of Significant Accounting Policies, continued As of April 30, 2023, future amortization of intangible assets is expected as follows: Schedule of Future Amortization of Intangible Assets Fiscal year end Amortization amount 2024 $ 121,000 2025 $ 121,000 2026 $ 121,000 2027 $ 121,000 2028 $ 121,000 Thereafter $ 544,000 Total $ 1,149,000 Basic and Diluted Earnings per Share Advertising 105,000 162,000 Income Taxes Accounting standards prescribe a recognition threshold and a measurement attribute for the financial statement recognition and measurement of the positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. A “more likely than not” tax position is measured as the largest amount of benefit that is greater than a fifty percent likelihood of being realized upon ultimate settlement, or else a full reserve is established against the tax asset or a liability is recorded. The Internal Revenue Service (“IRS”) may generally access additional income tax records for the most recent three years. This would generally prevent the IRS from opening an examination for years ending on or before April 30, 2019. However, there are exceptions that can extend the statute of limitations to six years, and in some cases, prevent the statute of limitations from ever expiring. Interest and penalties accrued on uncertain tax positions are recorded as income tax expense. 1. Nature of Business and Summary of Significant Accounting Policies, continued It has been determined that the Company does not have uncertain tax positions on its tax returns for the years 2022, 2021, and prior. Based on evaluation of the 2023 transactions and events, the Company does not have any material uncertain tax positions that require measurement. Accounting Estimates Fair Value of Financial Instruments Investments The Company evaluates all marketable securities for other-than temporary declines in fair value, which are defined as when the cost basis exceeds the fair value for approximately one year. The Company also evaluates the nature of the investment, cause of impairment and number of investments that are in an unrealized position. When an “other-than-temporary” decline is identified, the Company will decrease the cost of the marketable security to the new fair value and recognize a real loss. The investments are periodically evaluated to determine if impairment changes are required. Revenue Recognition performance obligations in the contract and (5) recognizing revenue when performance obligations are satisfied. The Company recognizes revenue for product sales upon transfer of title to the customer. Customer purchase orders and/or contracts are generally used to determine the existence of an arrangement. Shipping documents and the completion of any customer acceptance requirements, when applicable, are used to verify product delivery or that services have been rendered. The Company assesses whether a price is fixed or determinable based upon the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment. Payments received from customers in advance of product shipment or revenue recognition are treated as deferred revenues and recognized when the product is shipped. 1. Nature of Business and Summary of Significant Accounting Policies, continued Variable Consideration Product Returns Product Warranties Shipping and Handling Costs Research and Development Costs Comprehensive Income Segment Reporting and Related Information Prior Period Financial Statement Adjustment “Materiality” “Considering the Effects of Misstatements when Quantifying Misstatements in the Current Year Financial Statements,” Recently Issued Accounting Pronouncements Subsequent Events

Inventories

Inventories	12 Months Ended
	Apr. 30, 2023
Inventory Disclosure [Abstract]
Inventories	2. Inventories Inventories at April 30, 2023 and 2022, consisted of the following: Schedule of Inventories 2023 2022 Raw materials $ 9,886,000 $ 6,772,000 Work in process 678,000 618,000 Finished goods 1,267,000 838,000 Inventory gross 11,831,000 8,228,000 Less: allowance for obsolete inventory (388,000 ) (288,000 ) Inventories, net $ 11,443,000 $ 7,940,000

Investments

Investments	12 Months Ended
	Apr. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	3. Investments The Company has investments in publicly traded equity securities, state and municipal debt securities, REITs, and money markets and they are recorded at fair value. The investments in debt securities, which include municipal bonds and bond funds, mature between August 2023 and September 2042. As of April 30, 2023 and 2022, investments consisted of the following: Schedule of Investments Gross Gross Investments at Cost Unrealized Unrealized Reported April 30, 2023 Basis Gains Losses Value Municipal bonds $ 5,396,000 $ 46,000 $ (230,000 ) $ 5,212,000 REITs $ 93,000 $ - $ (22,000 ) $ 71,000 Equity securities $ 18,605,000 $ 6,915,000 $ (501,000 ) $ 25,019,000 Money Markets and CDs $ 1,060,000 $ 1,000 $ - $ 1,061,000 Total $ 25,154,000 $ 6,962,000 $ (753,000 ) $ 31,363,000 Gross Gross Investments at Cost Unrealized Unrealized Reported April 30, 2022 Basis Gains Losses Value Municipal bonds $ 5,625,000 $ 41,000 $ (229,000 ) $ 5,437,000 REITs $ 131,000 $ 16,000 $ (3,000 ) $ 144,000 Equity securities $ 18,322,000 $ 6,921,000 $ (473,000 ) $ 24,770,000 Money Markets and CDs $ 628,000 $ - $ - $ 628,000 Total $ 24,706,000 $ 6,978,000 $ (705,000 ) $ 30,979,000 Marketable securities that are classified as equity securities are carried at fair value on the balance sheets with changes in fair value recorded as an unrealized gain or (loss) in the statements of income in the period of the change. Upon the disposition of a marketable security, the Company records a realized gain or (loss) on the Company’s statements of income. The Company evaluates all investments for other-than temporary declines in fair value, which are defined as when the cost basis exceeds the fair value for approximately one year. The Company also evaluates the nature of the investment, cause of impairment and number of investments that are in an unrealized position. When other than a temporary decline is identified, the Company will decrease the cost of the investment to the new fair value and recognize a loss. The investments are periodically evaluated to determine if impairment changes are required. As a result of this standard, management recorded an impairment loss of $ 67,000 no The Company’s investments are actively traded in the stock and bond markets. Therefore, there is either a realized gain or loss that is recorded when a sale happens. For the fiscal year ended April 30, 2023 the Company had sales of equity securities which yielded gross realized gains of $ 512,000 740,000 63,000 661,000 221,000 26,000 25,000 452,000 3. Investments, continued The following table shows the investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at April 30, 2023 and 2022. Unrealized Loss Breakdown by Investment Type at April 30, 2023 Schedule of Unrealized Loss Breakdown by Investment Less than 12 months 12 months or greater Total Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $ 868,000 $ (6,000 ) $ 3,769,000 $ (224,000 ) $ 4,637,000 $ (230,000 ) REITs $ 36,000 $ (9,000 ) $ 35,000 $ (13,000 ) $ 71,000 $ (22,000 ) Equity securities $ 3,048,000 $ (140,000 ) $ 2,209,000 $ (361,000 ) $ 5,257,000 $ (501,000 ) Total $ 3,952,000 $ (155,000 ) $ 6,013,000 $ (598,000 ) $ 9,965,000 $ (753,000 ) Unrealized Loss Breakdown by Investment Type at April 30, 2022 Less than 12 months 12 months or greater Total Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $ 4,420,000 $ (142,000 ) $ 539,000 $ (87,000 ) $ 4,959,000 $ (229,000 ) REITs $ 18,000 $ (1,000 ) $ 26,000 $ (2,000 ) $ 44,000 $ (3,000 ) Equity securities $ 4,157,000 $ (424,000 ) $ 274,000 $ (49,000 ) $ 4,431,000 $ (473,000 ) Total $ 8,595,000 $ (567,000 ) $ 839,000 $ (138,000 ) $ 9,434,000 $ (705,000 ) Municipal Bonds The unrealized losses on the Company’s investments in municipal bonds were caused by interest rate increases. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the amortized cost of the investment. Because the Company has the ability to hold these investments until a recovery of fair value occurs, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at April 30, 2023 and 2022. Marketable Equity Securities and REITs The Company’s investments in marketable equity securities and REITs consist of a wide variety of companies. Investments in these companies include growth, growth income, and foreign investment objectives. Management has evaluated the individual holdings and does not consider these investments to be other-than-temporarily impaired at April 30, 2023 and 2022.

Retirement Benefit Plan

Retirement Benefit Plan	12 Months Ended
	Apr. 30, 2023
Retirement Benefits [Abstract]
Retirement Benefit Plan	4. Retirement Benefit Plan On January 1, 1998, the Company adopted the George Risk Industries, Inc. Retirement Savings Plan (the “Plan”). The Plan is a defined contribution savings plan designed to provide retirement income to eligible employees of the Company. The Plan is intended to be qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. It is funded by voluntary pre-tax and Roth (taxable) contributions from eligible employees who may contribute a percentage of their eligible compensation, limited and subject to statutory limits. Employees are eligible to participate in the Plan when they have attained the age of 21 and completed one thousand hours of service in any plan year with the Company. 100% six-year 58,000 63,000

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Apr. 30, 2023
Equity [Abstract]
Stockholders’ Equity	5. Stockholders’ Equity Preferred Stock Each share of the Series #1 preferred stock is convertible at the option of the holder into five shares of Class A common stock and is also redeemable at the option of the board of directors at $ 20 1 Convertible preferred stock without par value may be issued from time to time as determined by the board of directors. Shares of different series shall be of equal rank but may vary as to terms and conditions. Class A Common Stock No dividends may be paid on the Class A common stock until the holders of the Series #1 preferred stock have been paid. During the fiscal year ended April 30, 2023, the Company purchased 645 Stock Transfer Agent

Earnings Per Share

Earnings Per Share	12 Months Ended
	Apr. 30, 2023
Earnings Per Share of Common Stock
Earnings Per Share	6. Earnings Per Share Basic and diluted earnings per share, assuming convertible preferred stock was converted for each period presented are: Schedule of Basic and Diluted Earnings Per Share April 30, 2023 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 4,757,000 Basic EPS $ 4,757,000 4,930,835 $ 0.96 Effect of dilutive Convertible Preferred Stock – 20,500 — Diluted EPS $ 4,757,000 4,951,335 $ 0.96 April 30, 2022 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 3,566,000 Basic EPS $ 3,566,000 4,941,825 $ 0.72 Effect of dilutive Convertible Preferred Stock – 20,500 — Diluted EPS $ 3,566,000 4,962,325 $ 0.72

Commitments, Contingencies, and

Commitments, Contingencies, and Related Party Transactions	12 Months Ended
	Apr. 30, 2023
Commitments Contingencies And Related Party Transactions
Commitments, Contingencies, and Related Party Transactions	7. Commitments, Contingencies, and Related Party Transactions One of the directors of the board, Joel Wiens, is the principal shareholder of FirsTier Bank. FirsTier Bank is the financial institution the Company uses for its day-to-day banking operations. Year end balances of accounts held at this bank are $ 4,637,000 5,058,000 102,700 58,800 From time to time, the Company may be involved in litigation in the ordinary course of business. The Company is not currently involved in any litigation that we believe could have a material adverse effect on its financial condition or results of operations.

Income Taxes

Income Taxes	12 Months Ended
	Apr. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The Company utilizes the liability method of accounting for income taxes. The liability method measures the expected income tax impact of future income and deductions implicit in the Balance Sheets. The income tax provision for the fiscal year ended April 30, 2023 and 2022 consisted of the following: Schedule of Income Tax Provision Year Ended April 30, 2023 2022 Current: Federal $ 1,051,000 1,202,000 State 175,000 467,000 Deferred: Federal (108,000 ) (652,000 ) State (60,000 ) (242,000 ) Total income tax provision $ 1,058,000 $ 775,000 Reconciliation of income taxes with Federal and State taxable income: Schedule of Reconciliation of Income Taxes with Federal and State Taxable Income 2023 2022 Income before income taxes $ 5,815,000 $ 4,341,000 State income tax deduction (351,000 ) (477,000 ) Interest and dividend income (511,000 ) (524,000 ) Nondeductible expenses and timing differences (11,000 ) 3,120,000 Taxable income $ 4,942,000 $ 6,460,000 The following schedule reconciles the provision for income taxes to the amount computed by applying the statutory rate to income before income taxes: Schedule of Statutory Rate to Income Before Income Taxes 2023 2022 Income tax provision at statutory rate $ 1,657,000 $ 1,251,000 Increase (decrease) income taxes resulting from: State income taxes (100,000 ) (138,000 ) Interest and dividend income (146,000 ) (151,000 ) Deferred taxes (168,000 ) (894,000 ) Other temporary and permanent differences (185,000 ) 707,000 Income tax expense $ 1,058,000 $ 775,000 Federal tax rate 21.00 % 21.00 % State tax rate 7.50 % 7.81 % Blended statutory rate 28.50 % 28.81 % Deferred tax assets (liabilities) consist of the following components at April 30, 2023 and 2022: Summary of Deferred Tax Assets (Liabilities) 2023 2022 Deferred tax assets (liabilities): Depreciation $ (276,000 ) $ (67,000 ) Capitalized R&D expense 165,000 $ — Inventory valuation 111,000 83,000 Allowance for doubtful accounts 5,000 10,000 Accrued vacation 37,000 39,000 Accumulated unrealized (gain)/loss on investments (1,769,000 ) (1,807,000 ) Net deferred tax assets (liabilities) $ (1,727,000 ) $ (1,742,000 )

Business Segments

Business Segments	12 Months Ended
	Apr. 30, 2023
Segment Reporting [Abstract]
Business Segments	9. Business Segments The following is financial information relating to industry segments: Schedule of Financial Information Relating to Industry Segments Quarter ended Year ended Year ended April 30, April 30, April 30, 2023 2023 2022 (Unaudited) Net revenue: Security alarm products $ 4,349,000 $ 17,428,000 $ 17,833,000 Cable & wiring tools 309,000 1,870,000 2,130,000 Other products 127,000 681,000 772,000 Total net revenue $ 4,785,000 $ 19,979,000 $ 20,735,000 Income from operations: Security alarm products 1,031,000 4,414,000 4,858,000 Cable & wiring tools 111,000 474,000 580,000 Other products 40,000 172,000 210,000 Total income from operations $ 1,182,000 $ 5,060,000 $ 5,648,000 Depreciation and amortization: Security alarm products 47,000 194,000 173,000 Cable & wiring tools 30,000 122,000 123,000 Other products 24,000 81,000 78,000 Corporate general 13,000 48,000 62,000 Total depreciation and amortization $ 114,000 $ 445,000 $ 436,000 Capital expenditures: Security alarm products 162,000 237,000 366,000 Cable & wiring tools — — — Other products 122,000 268,000 11,000 Corporate general 43,000 43,000 13,000 Total capital expenditures $ 327,000 $ 548,000 $ 390,000 April 30, 2023 April 30, 2022 Identifiable assets: Security alarm products 14,251,000 11,537,000 Cable & wiring tools 2,548,000 2,509,000 Other products 981,000 732,000 Corporate general 38,171,000 39,253,000 Total assets $ 55,951,000 $ 54,031,000

Concentrations

Concentrations	12 Months Ended
	Apr. 30, 2023
Risks and Uncertainties [Abstract]
Concentrations	10. Concentrations The Company maintains the majority of its cash balance in a financial institution in Kimball, Nebraska. Accounts at this institution are insured by the Federal Deposit Insurance Corporation for up to $ 250,000 4,530,000 5,256,000 Management also has cash funds with Wells Fargo Bank with uninsured balances of $ 56,000 769,000 The Company has sales to a security alarm distributor representing 36% 35% 44% 50% Security switch sales made up 87% 86%

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Apr. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	11. Fair Value Measurements The carrying value of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to their short-term nature. The fair value of our investments is determined utilizing market-based information. Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions, and credit risk. US GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The levels of the fair value hierarchy under US GAAP are described below: Level 1 Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Investments and Marketable Securities As of April 30, 2023 and 2022, The Company’s investments consisted of money markets, publicly traded equity securities, REITs as well as certain state and municipal bonds. The marketable securities are valued using third-party broker statements. The value of the majority of securities is derived from quoted market information. The inputs to the valuation are classified as Level 1 given the active market for these securities; however, if an active market does not exist, which is the case for municipal bonds and REITs; the inputs are recorded as Level 2. Fair Value Hierarchy The following tables set forth our assets and liabilities measured at fair value on a recurring basis and a non-recurring basis by level within the fair value hierarchy. As required by US GAAP, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Schedule of Assets Measured at Fair Value on Recurring Basis Level 1 Level 2 Level 3 Total Assets Measured at Fair Value on a Recurring Basis as of April 30, 2023 Level 1 Level 2 Level 3 Total Assets: Municipal Bonds — $ 5,212,000 — $ 5,212,000 REITs — $ 71,000 — $ 71,000 Equity Securities $ 25,019,000 — — $ 25,019,000 Money Markets and CDs $ 1,061,000 — — $ 1,061,000 Total fair value of assets measured on a recurring basis $ 26,080,000 $ 5,283,000 — $ 31,363,000 Level 1 Level 2 Level 3 Total Assets Measured at Fair Value on a Recurring Basis as of April 30, 2022 Level 1 Level 2 Level 3 Total Assets: Municipal Bonds — $ 5,437,000 — $ 5,437,000 REITs — $ 144,000 — $ 144,000 Equity Securities $ 24,770,000 — — $ 24,770,000 Money Markets and CDs $ 628,000 — — $ 628,000 Total fair value of assets measured on a recurring basis $ 25,398,000 $ 5,581,000 — $ 30,979,000

Nature of Business and Summar_2

Nature of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Apr. 30, 2023
Accounting Policies [Abstract]
Nature of Business	Nature of Business
Cash and Cash Equivalents	Cash and Cash Equivalents
Accounts Receivable and Allowance for Estimated Credit Losses	Accounts Receivable and Allowance for Estimated Credit Losses The Company maintains an allowance for estimated credit losses related to accounts receivable for future expected credit losses resulting from the inability or unwillingness of our customers to make required payments. We estimate our allowance for credit losses based on relevant information such as historical experience, current conditions, and future expectation of specifically identified customer balances. This allowance is adjusted as appropriate to reflect current conditions. The Company has recorded an allowance for estimated credit losses of $ 17,922 33,531 17,171 24,199
Concentrations of Credit Risk	Concentrations of Credit Risk
Inventories	Inventories 1. Nature of Business and Summary of Significant Accounting Policies, continued
Property and Equipment	Property and Equipment Schedule of Property and Equipment Classification Useful Life 2023 2022 Dies, jigs, and molds 3 7 $ 1,871,000 $ 1,855,000 Machinery and equipment 5 10 2,632,000 2,224,000 Furniture and fixtures 5 10 222,000 222,000 Improvements 5 32 605,000 541,000 Buildings 20 39 1,151,000 1,151,000 Automotive 3 5 126,000 110,000 Software 2 5 425,000 425,000 Land N/A 80,000 80,000 Total 7,112,000 6,608,000 Property and equipment, gross 7,112,000 6,608,000 Accumulated depreciation (5,115,000 ) (4,826,000 ) Property and equipment, net $ 1,997,000 $ 1,782,000 Depreciation expense of $ 323,000 312,000 Maintenance and repairs are charged to expense as incurred, and expenditures for major improvements are capitalized. When assets are retired or otherwise disposed of, the property accounts are relieved of costs and accumulated depreciation and any resulting gain or loss is credited or charged to operations.
Investment in Limited Land Partnership	Investment in Limited Land Partnership the Company purchased 6.67% of a prime 22-acre land parcel for development in Winter Park-Grand County, CO for investment purposes for a total of $ 200,000 2 5 144,000
Intangible Assets	Intangible Assets 15 1,149,000 1,271,000 122,000 123,000 1. Nature of Business and Summary of Significant Accounting Policies, continued As of April 30, 2023, future amortization of intangible assets is expected as follows: Schedule of Future Amortization of Intangible Assets Fiscal year end Amortization amount 2024 $ 121,000 2025 $ 121,000 2026 $ 121,000 2027 $ 121,000 2028 $ 121,000 Thereafter $ 544,000 Total $ 1,149,000
Basic and Diluted Earnings per Share	Basic and Diluted Earnings per Share
Advertising	Advertising 105,000 162,000
Income Taxes	Income Taxes Accounting standards prescribe a recognition threshold and a measurement attribute for the financial statement recognition and measurement of the positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. A “more likely than not” tax position is measured as the largest amount of benefit that is greater than a fifty percent likelihood of being realized upon ultimate settlement, or else a full reserve is established against the tax asset or a liability is recorded. The Internal Revenue Service (“IRS”) may generally access additional income tax records for the most recent three years. This would generally prevent the IRS from opening an examination for years ending on or before April 30, 2019. However, there are exceptions that can extend the statute of limitations to six years, and in some cases, prevent the statute of limitations from ever expiring. Interest and penalties accrued on uncertain tax positions are recorded as income tax expense. 1. Nature of Business and Summary of Significant Accounting Policies, continued It has been determined that the Company does not have uncertain tax positions on its tax returns for the years 2022, 2021, and prior. Based on evaluation of the 2023 transactions and events, the Company does not have any material uncertain tax positions that require measurement.
Accounting Estimates	Accounting Estimates
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Investments	Investments The Company evaluates all marketable securities for other-than temporary declines in fair value, which are defined as when the cost basis exceeds the fair value for approximately one year. The Company also evaluates the nature of the investment, cause of impairment and number of investments that are in an unrealized position. When an “other-than-temporary” decline is identified, the Company will decrease the cost of the marketable security to the new fair value and recognize a real loss. The investments are periodically evaluated to determine if impairment changes are required.
Revenue Recognition	Revenue Recognition performance obligations in the contract and (5) recognizing revenue when performance obligations are satisfied. The Company recognizes revenue for product sales upon transfer of title to the customer. Customer purchase orders and/or contracts are generally used to determine the existence of an arrangement. Shipping documents and the completion of any customer acceptance requirements, when applicable, are used to verify product delivery or that services have been rendered. The Company assesses whether a price is fixed or determinable based upon the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment. Payments received from customers in advance of product shipment or revenue recognition are treated as deferred revenues and recognized when the product is shipped. 1. Nature of Business and Summary of Significant Accounting Policies, continued
Variable Consideration	Variable Consideration
Product Returns	Product Returns
Product Warranties	Product Warranties
Shipping and Handling Costs	Shipping and Handling Costs
Research and Development Costs	Research and Development Costs
Comprehensive Income	Comprehensive Income
Segment Reporting and Related Information	Segment Reporting and Related Information
Prior Period Financial Statement Adjustment	Prior Period Financial Statement Adjustment “Materiality” “Considering the Effects of Misstatements when Quantifying Misstatements in the Current Year Financial Statements,”
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements
Subsequent Events	Subsequent Events

Nature of Business and Summar_3

Nature of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Apr. 30, 2023
Accounting Policies [Abstract]
Schedule of Property and Equipment	Schedule of Property and Equipment Classification Useful Life 2023 2022 Dies, jigs, and molds 3 7 $ 1,871,000 $ 1,855,000 Machinery and equipment 5 10 2,632,000 2,224,000 Furniture and fixtures 5 10 222,000 222,000 Improvements 5 32 605,000 541,000 Buildings 20 39 1,151,000 1,151,000 Automotive 3 5 126,000 110,000 Software 2 5 425,000 425,000 Land N/A 80,000 80,000 Total 7,112,000 6,608,000 Property and equipment, gross 7,112,000 6,608,000 Accumulated depreciation (5,115,000 ) (4,826,000 ) Property and equipment, net $ 1,997,000 $ 1,782,000
Schedule of Future Amortization of Intangible Assets	As of April 30, 2023, future amortization of intangible assets is expected as follows: Schedule of Future Amortization of Intangible Assets Fiscal year end Amortization amount 2024 $ 121,000 2025 $ 121,000 2026 $ 121,000 2027 $ 121,000 2028 $ 121,000 Thereafter $ 544,000 Total $ 1,149,000

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Apr. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories at April 30, 2023 and 2022, consisted of the following: Schedule of Inventories 2023 2022 Raw materials $ 9,886,000 $ 6,772,000 Work in process 678,000 618,000 Finished goods 1,267,000 838,000 Inventory gross 11,831,000 8,228,000 Less: allowance for obsolete inventory (388,000 ) (288,000 ) Inventories, net $ 11,443,000 $ 7,940,000

Investments (Tables)

Investments (Tables)	12 Months Ended
	Apr. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments	As of April 30, 2023 and 2022, investments consisted of the following: Schedule of Investments Gross Gross Investments at Cost Unrealized Unrealized Reported April 30, 2023 Basis Gains Losses Value Municipal bonds $ 5,396,000 $ 46,000 $ (230,000 ) $ 5,212,000 REITs $ 93,000 $ - $ (22,000 ) $ 71,000 Equity securities $ 18,605,000 $ 6,915,000 $ (501,000 ) $ 25,019,000 Money Markets and CDs $ 1,060,000 $ 1,000 $ - $ 1,061,000 Total $ 25,154,000 $ 6,962,000 $ (753,000 ) $ 31,363,000 Gross Gross Investments at Cost Unrealized Unrealized Reported April 30, 2022 Basis Gains Losses Value Municipal bonds $ 5,625,000 $ 41,000 $ (229,000 ) $ 5,437,000 REITs $ 131,000 $ 16,000 $ (3,000 ) $ 144,000 Equity securities $ 18,322,000 $ 6,921,000 $ (473,000 ) $ 24,770,000 Money Markets and CDs $ 628,000 $ - $ - $ 628,000 Total $ 24,706,000 $ 6,978,000 $ (705,000 ) $ 30,979,000
Schedule of Unrealized Loss Breakdown by Investment	Unrealized Loss Breakdown by Investment Type at April 30, 2023 Schedule of Unrealized Loss Breakdown by Investment Less than 12 months 12 months or greater Total Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $ 868,000 $ (6,000 ) $ 3,769,000 $ (224,000 ) $ 4,637,000 $ (230,000 ) REITs $ 36,000 $ (9,000 ) $ 35,000 $ (13,000 ) $ 71,000 $ (22,000 ) Equity securities $ 3,048,000 $ (140,000 ) $ 2,209,000 $ (361,000 ) $ 5,257,000 $ (501,000 ) Total $ 3,952,000 $ (155,000 ) $ 6,013,000 $ (598,000 ) $ 9,965,000 $ (753,000 ) Unrealized Loss Breakdown by Investment Type at April 30, 2022 Less than 12 months 12 months or greater Total Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $ 4,420,000 $ (142,000 ) $ 539,000 $ (87,000 ) $ 4,959,000 $ (229,000 ) REITs $ 18,000 $ (1,000 ) $ 26,000 $ (2,000 ) $ 44,000 $ (3,000 ) Equity securities $ 4,157,000 $ (424,000 ) $ 274,000 $ (49,000 ) $ 4,431,000 $ (473,000 ) Total $ 8,595,000 $ (567,000 ) $ 839,000 $ (138,000 ) $ 9,434,000 $ (705,000 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Apr. 30, 2023
Earnings Per Share of Common Stock
Schedule of Basic and Diluted Earnings Per Share	Basic and diluted earnings per share, assuming convertible preferred stock was converted for each period presented are: Schedule of Basic and Diluted Earnings Per Share April 30, 2023 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 4,757,000 Basic EPS $ 4,757,000 4,930,835 $ 0.96 Effect of dilutive Convertible Preferred Stock – 20,500 — Diluted EPS $ 4,757,000 4,951,335 $ 0.96 April 30, 2022 Income Shares Per-Share (Numerator) (Denominator) Amount Net income $ 3,566,000 Basic EPS $ 3,566,000 4,941,825 $ 0.72 Effect of dilutive Convertible Preferred Stock – 20,500 — Diluted EPS $ 3,566,000 4,962,325 $ 0.72

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Apr. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	Schedule of Income Tax Provision Year Ended April 30, 2023 2022 Current: Federal $ 1,051,000 1,202,000 State 175,000 467,000 Deferred: Federal (108,000 ) (652,000 ) State (60,000 ) (242,000 ) Total income tax provision $ 1,058,000 $ 775,000
Schedule of Reconciliation of Income Taxes with Federal and State Taxable Income	Reconciliation of income taxes with Federal and State taxable income: Schedule of Reconciliation of Income Taxes with Federal and State Taxable Income 2023 2022 Income before income taxes $ 5,815,000 $ 4,341,000 State income tax deduction (351,000 ) (477,000 ) Interest and dividend income (511,000 ) (524,000 ) Nondeductible expenses and timing differences (11,000 ) 3,120,000 Taxable income $ 4,942,000 $ 6,460,000
Schedule of Statutory Rate to Income Before Income Taxes	The following schedule reconciles the provision for income taxes to the amount computed by applying the statutory rate to income before income taxes: Schedule of Statutory Rate to Income Before Income Taxes 2023 2022 Income tax provision at statutory rate $ 1,657,000 $ 1,251,000 Increase (decrease) income taxes resulting from: State income taxes (100,000 ) (138,000 ) Interest and dividend income (146,000 ) (151,000 ) Deferred taxes (168,000 ) (894,000 ) Other temporary and permanent differences (185,000 ) 707,000 Income tax expense $ 1,058,000 $ 775,000 Federal tax rate 21.00 % 21.00 % State tax rate 7.50 % 7.81 % Blended statutory rate 28.50 % 28.81 %
Summary of Deferred Tax Assets (Liabilities)	Deferred tax assets (liabilities) consist of the following components at April 30, 2023 and 2022: Summary of Deferred Tax Assets (Liabilities) 2023 2022 Deferred tax assets (liabilities): Depreciation $ (276,000 ) $ (67,000 ) Capitalized R&D expense 165,000 $ — Inventory valuation 111,000 83,000 Allowance for doubtful accounts 5,000 10,000 Accrued vacation 37,000 39,000 Accumulated unrealized (gain)/loss on investments (1,769,000 ) (1,807,000 ) Net deferred tax assets (liabilities) $ (1,727,000 ) $ (1,742,000 )

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Apr. 30, 2023
Segment Reporting [Abstract]
Schedule of Financial Information Relating to Industry Segments	The following is financial information relating to industry segments: Schedule of Financial Information Relating to Industry Segments Quarter ended Year ended Year ended April 30, April 30, April 30, 2023 2023 2022 (Unaudited) Net revenue: Security alarm products $ 4,349,000 $ 17,428,000 $ 17,833,000 Cable & wiring tools 309,000 1,870,000 2,130,000 Other products 127,000 681,000 772,000 Total net revenue $ 4,785,000 $ 19,979,000 $ 20,735,000 Income from operations: Security alarm products 1,031,000 4,414,000 4,858,000 Cable & wiring tools 111,000 474,000 580,000 Other products 40,000 172,000 210,000 Total income from operations $ 1,182,000 $ 5,060,000 $ 5,648,000 Depreciation and amortization: Security alarm products 47,000 194,000 173,000 Cable & wiring tools 30,000 122,000 123,000 Other products 24,000 81,000 78,000 Corporate general 13,000 48,000 62,000 Total depreciation and amortization $ 114,000 $ 445,000 $ 436,000 Capital expenditures: Security alarm products 162,000 237,000 366,000 Cable & wiring tools — — — Other products 122,000 268,000 11,000 Corporate general 43,000 43,000 13,000 Total capital expenditures $ 327,000 $ 548,000 $ 390,000 April 30, 2023 April 30, 2022 Identifiable assets: Security alarm products 14,251,000 11,537,000 Cable & wiring tools 2,548,000 2,509,000 Other products 981,000 732,000 Corporate general 38,171,000 39,253,000 Total assets $ 55,951,000 $ 54,031,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Apr. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	The following tables set forth our assets and liabilities measured at fair value on a recurring basis and a non-recurring basis by level within the fair value hierarchy. As required by US GAAP, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Schedule of Assets Measured at Fair Value on Recurring Basis Level 1 Level 2 Level 3 Total Assets Measured at Fair Value on a Recurring Basis as of April 30, 2023 Level 1 Level 2 Level 3 Total Assets: Municipal Bonds — $ 5,212,000 — $ 5,212,000 REITs — $ 71,000 — $ 71,000 Equity Securities $ 25,019,000 — — $ 25,019,000 Money Markets and CDs $ 1,061,000 — — $ 1,061,000 Total fair value of assets measured on a recurring basis $ 26,080,000 $ 5,283,000 — $ 31,363,000 Level 1 Level 2 Level 3 Total Assets Measured at Fair Value on a Recurring Basis as of April 30, 2022 Level 1 Level 2 Level 3 Total Assets: Municipal Bonds — $ 5,437,000 — $ 5,437,000 REITs — $ 144,000 — $ 144,000 Equity Securities $ 24,770,000 — — $ 24,770,000 Money Markets and CDs $ 628,000 — — $ 628,000 Total fair value of assets measured on a recurring basis $ 25,398,000 $ 5,581,000 — $ 30,979,000

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($)	Apr. 30, 2023	Apr. 30, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,112,000	$ 6,608,000
Accumulated depreciation	(5,115,000)	(4,826,000)
Property and equipment, net	1,997,000	1,782,000
Dies, Jigs, and Molds [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,871,000	1,855,000
Dies, Jigs, and Molds [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	3 years
Dies, Jigs, and Molds [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	7 years
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,632,000	2,224,000
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	5 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	10 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 222,000	222,000
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	10 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 605,000	541,000
Leasehold Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	5 years
Leasehold Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	32 years
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,151,000	1,151,000
Buildings [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	20 years
Buildings [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	39 years
Automotive [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 126,000	110,000
Automotive [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	3 years
Automotive [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	5 years
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 425,000	425,000
Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	2 years
Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life years	5 years
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 80,000	$ 80,000

Schedule of Future Amortization

Schedule of Future Amortization of Intangible Assets (Details) - USD ($)	Apr. 30, 2023	Apr. 30, 2022
Accounting Policies [Abstract]
2024	$ 121,000
2025	121,000
2026	121,000
2027	121,000
2028	121,000
Thereafter	544,000
Total	$ 1,149,000	$ 1,271,000

Nature of Business and Summar_4

Nature of Business and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	1 Months Ended		12 Months Ended
	Nov. 30, 2022	Nov. 30, 2002	Apr. 30, 2023	Apr. 30, 2022
Property, Plant and Equipment [Line Items]
Accounts receivable, allowance for credit loss, current			$ 17,922	$ 33,531
Accounts receivable			17,171	24,199
Depreciation expenses			323,000	312,000
Investment in limited land partnership held for sale, description	the Company purchased 6.67% of a prime 22-acre land parcel for development in Winter Park-Grand County, CO for investment purposes for a total of $200,000
Intangible assets			1,149,000	1,271,000
Amortization expenses			122,000	123,000
Advertising expenses			$ 105,000	$ 162,000
Non-compete Agreement [Member]
Property, Plant and Equipment [Line Items]
Intellectual property with a useful live			15 years
Winter Park-Grand County, CO [Member]
Property, Plant and Equipment [Line Items]
Investments		$ 200,000
Additional contributions expenses		$ 144,000
Winter Park-Grand County, CO [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property for resale term		2 years
Winter Park-Grand County, CO [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property for resale term		5 years

Schedule of Inventories (Detail

Schedule of Inventories (Details) - USD ($)	Apr. 30, 2023	Apr. 30, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 9,886,000	$ 6,772,000
Work in process	678,000	618,000
Finished goods	1,267,000	838,000
Inventory gross	11,831,000	8,228,000
Less: allowance for obsolete inventory	(388,000)	(288,000)
Inventories, net	$ 11,443,000	$ 7,940,000

Schedule of Investments (Detail

Schedule of Investments (Details) - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Marketable Securities [Line Items]
Cost Basis	$ 25,154,000	$ 24,706,000
Gross Unrealized Gains	6,962,000	6,978,000
Gross Unrealized Losses	(753,000)	(705,000)
Fair Value	31,363,000	30,979,000
Municipal Bonds [Member]
Marketable Securities [Line Items]
Cost Basis	5,396,000	5,625,000
Gross Unrealized Gains	46,000	41,000
Gross Unrealized Losses	(230,000)	(229,000)
Fair Value	5,212,000	5,437,000
Real Estate Investment [Member]
Marketable Securities [Line Items]
Cost Basis	93,000	131,000
Gross Unrealized Gains		16,000
Gross Unrealized Losses	(22,000)	(3,000)
Fair Value	71,000	144,000
Equity Securities [Member]
Marketable Securities [Line Items]
Cost Basis	18,605,000	18,322,000
Gross Unrealized Gains	6,915,000	6,921,000
Gross Unrealized Losses	(501,000)	(473,000)
Fair Value	25,019,000	24,770,000
Money Markets and CDs [Member]
Marketable Securities [Line Items]
Cost Basis	1,060,000	628,000
Gross Unrealized Gains	1,000
Gross Unrealized Losses
Fair Value	$ 1,061,000	$ 628,000

Schedule of Unrealized Loss Bre

Schedule of Unrealized Loss Breakdown by Investment (Details) - USD ($)	Apr. 30, 2023	Apr. 30, 2022
Marketable Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	$ 3,952,000	$ 8,595,000
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(155,000)	(567,000)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	6,013,000	839,000
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(598,000)	(138,000)
Debt securities, available-for-sale, unrealized loss position	9,965,000	9,434,000
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(753,000)	(705,000)
Municipal Bonds [Member]
Marketable Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	868,000	4,420,000
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(6,000)	(142,000)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	3,769,000	539,000
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(224,000)	(87,000)
Debt securities, available-for-sale, unrealized loss position	4,637,000	4,959,000
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(230,000)	(229,000)
Real Estate Investment [Member]
Marketable Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	36,000	18,000
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(9,000)	(1,000)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	35,000	26,000
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(13,000)	(2,000)
Debt securities, available-for-sale, unrealized loss position	71,000	44,000
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(22,000)	(3,000)
Equity Securities [Member]
Marketable Securities [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months	3,048,000	4,157,000
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss	(140,000)	(424,000)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	2,209,000	274,000
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(361,000)	(49,000)
Debt securities, available-for-sale, unrealized loss position	5,257,000	4,431,000
Debt securities, available-for-sale, unrealized loss position, accumulated loss	$ (501,000)	$ (473,000)

Investments (Details Narrative)

Investments (Details Narrative) - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Available-for-sale debt securities maturity year description	The investments in debt securities, which include municipal bonds and bond funds, mature between August 2023 and September 2042.
Impairment loss	$ 67,000
Gross realized gain	512,000	661,000
Gross realized losses	740,000	221,000
Debt securities loss	63,000	26,000
Debt securities realized loss	$ 25,000	$ 452,000

Retirement Benefit Plan (Detail

Retirement Benefit Plan (Details Narrative) - USD ($)		12 Months Ended
	Jan. 01, 1998	Apr. 30, 2023	Apr. 30, 2022
Retirement Benefits [Abstract]
Description of employees eligibility	Employees are eligible to participate in the Plan when they have attained the age of 21 and completed one thousand hours of service in any plan year with the Company.
Employees vesting percentage	100%
Employer matching contribution vesting period	P6Y
Employees matching contributions		$ 58,000	$ 63,000

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative)	12 Months Ended
	Apr. 30, 2023 $ / shares shares
Equity [Abstract]
Preferred stock conversion terms	Each share of the Series #1 preferred stock is convertible at the option of the holder into five shares of Class A common stock and is also redeemable at the option of the board of directors at $20 per share.
Redemption price per share	$ 20
Dividend rate per share	$ 1
Preferred stock dividend payment description	No dividends may be paid on the Class A common stock until the holders of the Series #1 preferred stock have been paid.
Purchase of common stock shares | shares	645

Schedule of Basic and Diluted E

Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Earnings Per Share of Common Stock
Net income	$ 4,757,000	$ 3,566,000
Basic EPS, Income	$ 4,757,000	$ 3,566,000
Basic EPS, Shares	4,930,835	4,941,825
Basic EPS, Per-Share Amount	$ 0.96	$ 0.72
Effect of dilutive Convertible Preferred Stock, Income
Effect of dilutive Convertible Preferred Stock, Shares	20,500	20,500
Effect of dilutive Convertible Preferred Stock, Per-Share Amount
Diluted EPS, Income	$ 4,757,000	$ 3,566,000
Diluted EPS, Shares	4,951,335	4,962,325
Diluted EPS, Per-Share Amount	$ 0.96	$ 0.72

Commitments, Contingencies, a_2

Commitments, Contingencies, and Related Party Transactions (Details Narrative) - Joel Wiens [Member] - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Bank deposit	$ 4,637,000	$ 5,058,000
Interest income on bank deposit	$ 102,700	$ 58,800

Schedule of Income Tax Provisio

Schedule of Income Tax Provision (Details) - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Current:
Federal	$ 1,051,000	$ 1,202,000
State	175,000	467,000
Deferred:
Federal	(108,000)	(652,000)
State	(60,000)	(242,000)
Total Income Tax Expense	$ 1,058,000	$ 775,000

Schedule of Reconciliation of I

Schedule of Reconciliation of Income Taxes with Federal and State Taxable Income (Details) - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Income Tax Disclosure [Abstract]
Income before income taxes	$ 5,815,000	$ 4,341,000
State income tax deduction	(351,000)	(477,000)
Interest and dividend income	(511,000)	(524,000)
Nondeductible expenses and timing differences	(11,000)	3,120,000
Taxable income	$ 4,942,000	$ 6,460,000

Schedule of Statutory Rate to I

Schedule of Statutory Rate to Income Before Income Taxes (Details) - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Income Tax Disclosure [Abstract]
Income tax provision at statutory rate	$ 1,657,000	$ 1,251,000
State income taxes	(100,000)	(138,000)
Interest and dividend income	(146,000)	(151,000)
Deferred taxes	(168,000)	(894,000)
Other temporary and permanent differences	(185,000)	707,000
Total Income Tax Expense	$ 1,058,000	$ 775,000
Federal tax rate	21%	21%
State tax rate	7.50%	7.81%
Blended statutory rate	28.50%	28.81%

Summary of Deferred Tax Assets

Summary of Deferred Tax Assets (Liabilities) (Details) - USD ($)	Apr. 30, 2023	Apr. 30, 2022
Income Tax Disclosure [Abstract]
Depreciation	$ (276,000)	$ (67,000)
Capitalized R&D expense	165,000
Inventory valuation	111,000	83,000
Allowance for doubtful accounts	5,000	10,000
Accrued vacation	37,000	39,000
Accumulated unrealized (gain)/loss on investments	(1,769,000)	(1,807,000)
Net deferred tax assets (liabilities)	$ (1,727,000)	$ (1,742,000)

Schedule of Financial Informati

Schedule of Financial Information Relating to Industry Segments (Details) - USD ($)	3 Months Ended	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2023	Apr. 30, 2022
Segment Reporting Information [Line Items]
Total net revenue	$ 4,785,000	$ 19,979,000	$ 20,735,000
Total income from operations	1,182,000	5,060,000	5,648,000
Total depreciation and amortization	114,000	445,000	436,000
Total capital expenditures	327,000	548,000	390,000
Total assets	55,951,000	55,951,000	54,031,000
Security Alarm Products [Member]
Segment Reporting Information [Line Items]
Total net revenue	4,349,000	17,428,000	17,833,000
Total income from operations	1,031,000	4,414,000	4,858,000
Total depreciation and amortization	47,000	194,000	173,000
Total capital expenditures	162,000	237,000	366,000
Total assets	14,251,000	14,251,000	11,537,000
Cable and Wiring Tools [Member]
Segment Reporting Information [Line Items]
Total net revenue	309,000	1,870,000	2,130,000
Total income from operations	111,000	474,000	580,000
Total depreciation and amortization	30,000	122,000	123,000
Total capital expenditures
Total assets	2,548,000	2,548,000	2,509,000
Other Products [Member]
Segment Reporting Information [Line Items]
Total net revenue	127,000	681,000	772,000
Total income from operations	40,000	172,000	210,000
Total depreciation and amortization	24,000	81,000	78,000
Total capital expenditures	122,000	268,000	11,000
Total assets	981,000	981,000	732,000
Corporate General [Member]
Segment Reporting Information [Line Items]
Total depreciation and amortization	13,000	48,000	62,000
Total capital expenditures	43,000	43,000	13,000
Total assets	$ 38,171,000	$ 38,171,000	$ 39,253,000

Concentrations (Details Narrati

Concentrations (Details Narrative) - USD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Concentration Risk [Line Items]
Cash FDIC insured amount	$ 250,000
Uninsured amount	$ 4,530,000	$ 5,256,000
Sales Security Alarm [Member] | Customer Concentration Risk [Member] | Customer [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	36%	35%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	44%	50%
Sales (Security Switch) [Member] | Customer Concentration Risk [Member] | Customer [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	87%	86%
Wells Fargo Bank [Member]
Concentration Risk [Line Items]
Uninsured amount	$ 56,000	$ 769,000

Schedule of Assets Measured at

Schedule of Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Apr. 30, 2023	Apr. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	$ 31,363,000	$ 30,979,000
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	5,212,000	5,437,000
Real Estate Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	71,000	144,000
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	25,019,000	24,770,000
Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	1,061,000	628,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	26,080,000	25,398,000
Fair Value, Inputs, Level 1 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 1 [Member] | Real Estate Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	25,019,000	24,770,000
Fair Value, Inputs, Level 1 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	1,061,000	628,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	5,283,000	5,581,000
Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	5,212,000	5,437,000
Fair Value, Inputs, Level 2 [Member] | Real Estate Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis	71,000	144,000
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 2 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member] | Real Estate Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis