PROPERTY HELD FOR DEVELOPMENT OR RESALE

3 Months Ended

Apr. 30, 2012

PROPERTY HELD FOR DEVELOPMENT OR RESALE [Text Block]

13. PROPERTY HELD FOR DEVELOPMENT OR RESALE

A schedule of the Company’s property held for development or resale at April 30, 2012 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.