RESTRICTED CASH:

12 Months Ended

Apr. 30, 2020

(3) RESTRICTED CASH:

The Company had no restricted cash at April 30, 2020 and $969,000 at April 30, 2019. As of April 30, 2019, the Company was subject to two subdivision improvement agreements with the City of Rio Rancho, New Mexico. In connection with these agreements, the Company had signed a promissory note for each subdivision and deposited restricted cash in a reserve bank account for each subdivision. During 2020, the Company completed its obligations under the two subdivision improvement agreements, the applicable promissory notes were cancelled and the related restricted cash was returned to the Company’s general cash.

The following provides a reconciliation of the Company’s cash and cash equivalents and restricted cash as reported in the consolidated balance sheets to the amount reported in the statement of cash flows (in thousands):


	April 30,
	2020		2019
	(in thousands)
Cash and cash equivalents	$	17,502	$	13,267
Restricted cash		—		969
Total cash, cash equivalents and restricted cash	$	17,502	$	14,236