OTHER ASSETS

12 Months Ended

Apr. 30, 2023

OTHER ASSETS.

OTHER ASSETS

(4)          OTHER ASSETS

Other assets consist of (in thousands):

	April 30,
	2023		2022
Prepaid expenses	$	1,536	$	366
Miscellaneous assets		362		249
Property		1,251		1,247
Equipment		366		240
Less accumulated depreciation of property and equipment		(266)		(220)
Property and equipment, net		1,351		1,267
Total	$	3,249	$	1,882

Prepaid expenses as of April 30, 2023 primarily consist of a land development cash collateralized performance guaranty, stock compensation, insurance and corporate income and real estate taxes. Prepaid expenses as of April 30, 2022 primarily consist of insurance, stock compensation, real estate taxes and utility deposits. Amortized lease cost for right-of-use assets associated with the leases of office facilities was $25,000 and $70,000 for 2023 and 2022. In 2022, the Company acquired a 7,000 square foot office building in Rio Rancho from which its real estate business now operates. Depreciation expense associated with property and equipment was $46,000 and $24,000 for 2023 and 2022.