PROPERTY HELD FOR DEVELOPMENT OR RESALE

3 Months Ended

Jul. 31, 2011

PROPERTY HELD FOR DEVELOPMENT OR RESALE [Text Block]

14. PROPERTY HELD FOR DEVELOPMENT OR RESALE

    A schedule of the Company’s property held for development or resale at July 31, 2011 is as follows (000's omitted):

Description		Land
02 acres of land Sioux City, IA	$	52

     Substantially all of Canal’s real property is pledged as collateral for its related party debt obligations.