SUBSEQUENT EVENTS

3 Months Ended

Apr. 30, 2012

SUBSEQUENT EVENTS [Text Block]

18. SUBSEQUENT EVENTS

In July 2012, Canal sold one acre of land and the improvements thereon located in South St. Paul, Minnesota, to an unrelated third party, for $839,000 generating a gain of $791,000.

In August 2012, Canal sold its stockyard operation (30 acres of land and the improvements thereon) located in St. Joseph, Missouri, to an unrelated third party, for $500,000 generating a loss of $577,000. Canal repaid $164,000 of its outstanding mortgage notes from the proceeds of this sale.