INVESTMENT ASSETS:

12 Months Ended

Apr. 30, 2014

Investment Assets [Abstract]

Investment Assets Disclosure [Text Block]

(4) INVESTMENT ASSETS:

Investment assets consist of:

	April 30,
	2014		2013
	(in thousands)
Land held for long-term investment	$	10,234	$	10,552
Other		-		753
Less accumulated depreciation and reserves		-		(429)
		-		324
	$	10,234	$	10,876

Land held for long-term investment represents property located in areas that are not planned to be developed in the near term and thus has not been offered for sale. As of April 30, 2014, the Company held approximately 12,260 acres of land in New Mexico classified as land held for long-term investment. At April 30, 2013, Other included a building in Rio Rancho, New Mexico then under contract for sale. Following entering into the contract for sale, depreciation was no longer taken on the building and an impairment reserve of $169,000 was recorded as a charge to operations during the first quarter of 2013. During 2014, the sale transaction for the building was completed. There was no depreciation of investment assets charged to operations in 2014, 2013 and 2012.