INVESTMENT ASSETS, NET

6 Months Ended

Oct. 31, 2021

INVESTMENT ASSETS, NET

INVESTMENT ASSETS, NET

(3)          INVESTMENT ASSETS, NET

Investment assets, net consist of (in thousands):

	October 31,		April 30,
	2021		2021
Land held for long-term investment	$	9,775	$	9,775
Buildings		—		10,003
Less accumulated depreciation		—		(6,196)
Buildings, net		—		3,807
	$	9,775	$	13,582

As of April 30, 2021, buildings were comprised of a 143,000 square foot warehouse and office facility located in Palm Coast, Florida. In October 2021, the Company sold this 143,000 square foot warehouse and office facility. Depreciation associated with buildings was $98,000 and $140,000 for the three months ended October 31, 2021 and October 31, 2020 and $201,000 and $262,000 for the six months ended October 31, 2021 and October 31, 2020.