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NOTES PAYABLE (Tables) | 9 Months Ended
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Jan. 31, 2022
NOTES PAYABLE |
Schedule of notes payable | Notes payable, net consist of (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | January 31, |  | April 30,
​ | ​ | 2022 | ​ | 2021
Real estate notes payable | ​ | $ | 5,739 | ​ | $ | 3,482
Unamortized debt issuance costs | ​ |  | (13) | ​ |  | (34)
​ | ​ | $ | 5,726 | ​ | $ | 3,448
Summary of present information on the Company's notes payable in effect | The following tables present information on the Company’s notes payable in effect during the nine months ended January 31, 2022 (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Principal Amount |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | Available for | ​ | Outstanding | ​ | ​ | ​ | ​
​ | ​ | Borrowing | ​ | Principal Amount | ​ | Principal Repayments
​ | ​ | January 31, | ​ | January 31, | ​ | April 30, | ​ | Three Months ended | ​ | Nine Months ended
Loan Identifier | ​ | 2022 | ​ | 2022 | ​ | 2021 | ​ | January 31, 2022 | ​ | January 31, 2022
Revolving Line of Credit |  | $ | 2,427 |  | $ | — |  | $ | — | ​ | $ | — | ​ | $ | —
Lomas Encantadas U2B P3 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 410 | ​ | ​ | — | ​ | ​ | 1,770
Hawk Site U37 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Hawk Site U23 U40 | ​ |  | 1,678 | ​ |  | — | ​ |  | 30 | ​ |  | — | ​ |  | 30
Lavender Fields – acquisition | ​ |  | — | ​ |  | — | ​ |  | 1,749 | ​ |  | — | ​ |  | 1,704
Lavender Fields – development | ​ |  | 2,194 | ​ |  | 241 | ​ |  | 1,293 | ​ |  | 263 | ​ |  | 1,052
La Mirada | ​ |  | 1,877 | ​ |  | 5,498 | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ |  | ​ | ​ | $ | 5,739 | ​ | $ | 3,482 | ​ |  | ​ | ​ |  | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Mortgaged Property |  | ​ |  | ​
​ | ​ | Interest Rate | ​ | Book Value | ​ | Capitalized Interest and Fees
​ | ​ | January 31, | ​ | January 31, | ​ | Three Months ended | ​ | Nine Months ended
Loan Identifier | ​ | 2022 | ​ | 2022 | ​ | January 31, 2022 | ​ | January 31, 2022
Revolving Line of Credit |  | 3.75 | % | $ | 1,693 | ​ | $ | — | ​ | $ | —
Hawk Site U23 U40 |  | 3.75 | % |  | 4,709 | ​ |  | — | ​ |  | —
Lavender Fields – development |  | 3.75 | % |  | 6,560 | ​ |  | 6 | ​ |  | 23
La Mirada |  | 3.75 | % |  | 8,851 | ​ |  | 90 | ​ |  | 151
Schedule of scheduled principal repayments subsequent to reporting date | The following table summarizes the notes payable scheduled principal repayments subsequent to January 31, 2022 (in thousands): ​
​ | ​ | ​ | ​
Fiscal Year |  | Scheduled Payments
2022 | ​ | $ | —
2023 | ​ |  | 241
2024 | ​ |  | 5,498
Total | ​ | $ | 5,739

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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