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OTHER ASSETS

12 Months Ended

Apr. 30, 2025

OTHER ASSETS.

OTHER ASSETS

(4)          OTHER ASSETS

Other assets consist of (in thousands):

​

​	​	​	​	​	​	​
​	​	April 30,
​		2025			2024
Prepaid expenses	​	$	470	​	$	942
Miscellaneous assets	​	​	283	​	​	307
Property	​	​	2,060	​	​	1,532
Equipment	​	​	567	​	​	542
Less accumulated depreciation of property and equipment	​	​	(441)	​	​	(333)
Property and equipment, net	​		2,186	​		1,741
Total	​	$	2,939	​	$	2,990

​

Prepaid expenses as of April 30, 2025 primarily consist of land development cash collateralized performance guaranties and insurance. Prepaid expenses as of April 30, 2024 primarily consist of land development cash collateralized performance guaranties, insurance and income taxes. Property includes a 7,000 square foot office building in Rio Rancho utilized by the Company’s land development business segment and homebuilding business segment. Amortized lease cost for right-of-use assets associated with the leases of office facilities was $28,000 and $26,000 for 2025 and 2024. Depreciation expense associated with property and equipment was $102,000 and $67,000 for 2025 and 2024.

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- Definition

The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.

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