(3)

RECEIVABLES

Receivables, net consist of the following (in thousands):

	October 31, 2015		April 30, 2015

Fulfillment Services	$	7,914	$	7,993
Buyer promissory note		1,600		1,600
Line of credit receivable		-		2,000
Real estate operations and corporate		362		116
		9,876		11,709
Less allowance for doubtful accounts		(341)		(444)
	$	9,535	$	11,265

Refer to Item 1 of Part I of the 2015 Form 10-K for detail about the buyer promissory note and line of credit issued in connection with the sale of the Newsstand Distribution Services business and the Product Packaging and Fulfillment Services business.

During the second quarter and first six months of 2016, revenues from one major customer of the Company’s Fulfillment Services business totaled $1,289,000 and $2,787,000, or 11.5% and 13.4% of total revenues of the Company for those periods. As of November 30, 2015, the Company’s Fulfillment Services business had $424,000 of outstanding accounts receivable from this customer.