NOTES PAYABLE (Tables)

3 Months Ended

Jul. 31, 2021

NOTES PAYABLE

Schedule of notes payable

Notes payable, net consist of (in thousands):

	July 31,		April 30,
	2021		2021
Real estate notes payable	$	6,427	$	3,482
Unamortized debt issuance costs		(50)		(34)
	$	6,377	$	3,448

Summary of present information on the Company's notes payable in effect

The following tables present information on the Company’s notes payable in effect during the three months ended July 31, 2021 (dollars in thousands):

	Principal Amount
	Available for		Outstanding				Principal
	Borrowing		Principal Amount				Repayments
	July 31,		July 31,		April 30,		Three Months ended
Loan Identifier	2021		2021		2021		July 31, 2021
Revolving Line of Credit	$	4,000	$	—	$	—	$	—
Lomas Encantadas U2B P3		—		—		410		1,770
Hawk Site U37		1,462		—		—		—
Hawk Site U23 U40		2,670		30		30		—
Lavender Fields – acquisition		—		—		1,749		1,703
Lavender Fields – development		2,194		899		1,293		394
La Mirada		1,877		5,498		—		—
			$	6,427	$	3,482

					Capitalized Interest
			Mortgaged Property		and Fees
	Interest Rate		Book Value		Three Months ended
Loan Identifier	July 31, 2021		July 31, 2021		July 31, 2021
Revolving Line of Credit	3.75	%	$	1,690	$	—
Lomas Encantadas U2B P3	3.75	%		3,363		10
Hawk Site U37	4.50	%		2,982		—
Hawk Site U23 U40	3.75	%		3,956		30
Lavender Fields – development	3.75	%		6,530		11
La Mirada	3.75	%		7,835		22

Schedule of scheduled principal repayments subsequent to reporting date

The following table summarizes the notes payable scheduled principal repayments subsequent to July 31, 2021 (in thousands):

Fiscal Year	Scheduled Payments
2022	$	—
2023		929
2024		5,498
Thereafter		—
Total	$	6,427