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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Apr. 30, 2012
Jul. 31, 2011
ASSETS    
Property and Equipment - Net (Notes 4, 7 and 8) $ 44,585,865 $ 44,690,891
Current Assets:    
Cash and cash equivalents (Note 6) 904,040 2,656,354
Marketable securities (Notes 5 and 6) 200,403 619,096
Receivables (Note 6) 695,998 264,857
Income taxes refundable 69,972 315,577
Deferred income taxes 634,000 331,000
Prepaid expenses 566,055 1,197,574
Security deposits 180,991 128,704
Total current assets 3,251,459 5,513,162
Other Assets:    
Deferred charges 3,605,846 3,468,585
Less accumulated amortization 1,825,811 1,565,380
Net 1,780,035 1,903,205
Receivables (Note 6) 120,000 150,000
Security deposits 1,036,743 1,145,434
Unbilled receivables (Note 10) 2,061,364 1,606,099
Marketable securities (Notes 5 and 6) 2,300,129 1,332,460
Total other assets 7,298,271 6,137,198
TOTAL ASSETS 55,135,595 56,341,251
Long-Term Debt:    
Mortgages payable (Note 7) 5,632,606 5,750,259
Note payable - related party (Note 9) 1,000,000 1,000,000
Security deposits payable 767,404 836,235
Payroll and other accrued liabilities 28,536 85,570
Total long-term debt 7,428,546 7,672,064
Deferred Income Taxes 3,134,000 2,091,000
Current Liabilities:    
Accounts payable 41,486 142,593
Payroll and other accrued liabilities 1,906,745 1,511,225
Other taxes payable 8,969 3,376
Current portion of long-term debt (Note 7) 155,896 3,346,267
Current portion of security deposits payable 180,991 141,704
Total current liabilities 2,294,087 5,145,165
TOTAL LIABILITIES 12,856,633 14,908,229
Shareholders’ Equity:    
Common stock, par value $1 each share (shares - 5,000,000 authorized; 2,178,297 issued) 2,178,297 2,178,297
Additional paid in capital 3,346,245 3,346,245
Unrealized gain on available-for-sale securities - net of deferred taxes of $114,000 at April 30, 2012 and $64,000 at July 31, 2011 146,274 126,415
Retained earnings 37,895,998 37,069,917
43,566,814 42,720,874
Less common stock held in treasury, at cost - 162,517 shares at April 30, 2012 and at July 31, 2011 (Note 13) 1,287,852 1,287,852
Total shareholders’ equity 42,278,962 41,433,022
Contingencies (Note 14)    
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 55,135,595 $ 56,341,251