NOTES PAYABLE (Tables)

6 Months Ended

Oct. 31, 2021

NOTES PAYABLE

Schedule of notes payable

Notes payable, net consist of (in thousands):

	October 31,		April 30,
	2021		2021
Real estate notes payable	$	6,002	$	3,482
Unamortized debt issuance costs		(50)		(34)
	$	5,952	$	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 six months ended October 31, 2021 (dollars in thousands):

	Principal Amount
	Available for		Outstanding
	Borrowing		Principal Amount				Principal Repayments
	October 31,		October 31,		April 30,		Three Months ended		Six Months ended
Loan Identifier	2021		2021		2021		October 31, 2021		October 31, 2021
Revolving Line of Credit	$	3,750	$	—	$	—	$	—	$	—
Lomas Encantadas U2B P3		632		—		410		—		1,770
Hawk Site U37		—		—		—		—		—
Hawk Site U23 U40		1,678		—		30		30		30
Lavender Fields – acquisition		—		—		1,749		—		1,703
Lavender Fields – development		2,194		504		1,293		395		789
La Mirada		1,877		5,498		—		—		—
			$	6,002	$	3,482

			Mortgaged Property
	Interest Rate		Book Value		Capitalized Interest and Fees
	October 31,		October 31,		Three Months ended		Six Months ended
Loan Identifier	2021		2021		October 31, 2021		October 31, 2021
Revolving Line of Credit	3.75	%	$	1,693	$	—	$	—
Lomas Encantadas U2B P3	3.75	%		877		—		—
Hawk Site U23 U40	3.75	%		1,359		—		—
Lavender Fields – development	3.75	%		5,261		6		17
La Mirada	3.75	%		8,041		40		61

Schedule of scheduled principal repayments subsequent to reporting date

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

Fiscal Year	Scheduled Payments
2022	$	—
2023		504
2024		5,498
Total	$	6,002