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OTHER ASSETS
12 Months Ended
Apr. 30, 2022
OTHER ASSETS  
OTHER ASSETS

(4)          OTHER ASSETS

Other assets consist of (in thousands):

April 30, 

    

2022

    

2021

Prepaid expenses

$

366

$

324

Receivables

50

37

Right-of-use assets associated with leases of office facilities, net

118

84

Miscellaneous assets

81

172

Property

1,247

Equipment

240

222

Less accumulated depreciation of property and equipment

(220)

(194)

Property and equipment, net

 

1,267

 

28

$

1,882

$

645

Prepaid expenses as of April 30, 2022 primarily consist of insurance, stock compensation, real estate taxes and utility deposits. Prepaid expenses as of April 30, 2021 primarily consist of insurance, stock compensation, prepayments for office rent, broker’s commissions and security deposits. Amortized lease cost for right-of-use assets associated with the leases of office facilities was $70,000 and $18,000 for 2022 and 2021.

In 2022, the Company acquired a 7,000 square foot office building in Rio Rancho from which its real estate business now operates. Depreciation expense associated with property and equipment was $24,000 and $11,000 for 2022 and 2021.