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v3.26.1

OTHER ASSETS | 12 Months Ended
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Apr. 30, 2026
OTHER ASSETS |
OTHER ASSETS | (4) OTHER ASSETS Other assets consist of (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | April 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
Prepaid expenses | ​ | $ | 1,166 | ​ | $ | 470
Miscellaneous assets | ​ | ​ | 381 | ​ | ​ | 283
Property | ​ | ​ | 2,160 | ​ | ​ | 2,060
Equipment | ​ | ​ | 569 | ​ | ​ | 567
Less accumulated depreciation of property and equipment | ​ | ​ | (585) | ​ | ​ | (441)
Property and equipment, net | ​ |  | 2,144 | ​ |  | 2,186
Total | ​ | $ | 3,691 | ​ | $ | 2,939
​ Prepaid expenses as of April 30, 2026 primarily consist of land development cash collateralized performance guaranties and insurance. Prepaid expenses as of April 30, 2025 primarily consist of land development cash collateralized performance guaranties and insurance. 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 $30,000 and $28,000 for 2026 and 2025. Depreciation expense associated with property and equipment was $145,000 and $102,000 for 2026 and 2025.

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