(5) OTHER ASSETS

Other assets consist of:


	January 31,		April 30,
	2021		2020
	(in thousands)
Prepaid expenses	$	874	$	464
Receivables		44		156
Right-of-use assets associated with leases of office facilities		109		109
Other assets		170		170
Property and equipment		219		217
Less accumulated depreciation		(191)		(182)
Property and equipment, net		28		35
	$	1,225	$	934

Prepaid expenses as of January 31, 2021 primarily consist of prepaid insurance, stock compensation, prepayments for office rent, brokers commission related to a building lease and security deposits for the buildings in Palm Coast, Florida. Prepaid expenses as of January 31, 2020 primarily consist of prepaid insurance, stock compensation and in-process prepayments of amounts due under a public improvement district.

Depreciation expense associated with property and equipment was $9,000 and $13,000 for the nine months ended January 31, 2021 and January 31, 2020 and $2,000 and $4,000 for the three months ended January 31, 2021 and January 31, 2020.