MARKETABLE SECURITIES (Tables)

12 Months Ended

Jul. 31, 2013

MARKETABLE SECURITIES [Abstract]

Schedule of classified marketable securities

As of July 31, 2013 and 2012, the Company's marketable securities were classified as follows:

	July 31, 2013										July 31, 2012
			Gross			Gross							Gross			Gross
			Unrealized			Unrealized							Unrealized			Unrealized
	Cost		Gains			Losses			Fair Value		Cost		Gains			Losses			Fair Value
Current:
Held-to-maturity:
Certificate of deposit	$	50,326		$	-		$	-	$	50,326	$	50,246		$	-		$	-	$	50,246
Corporate debt securities		-			-			-		-		176,151			2,025			-		178,176
	$	50,326		$	-		$	-	$	50,326	$	226,397		$	2,025		$	-	$	228,422
Non-current:
Available-for-sale:
Mutual funds	$	1,559,925		$	242,041		$	12,052	$	1,789,914	$	1,255,982		$	123,203		$	-	$	1,379,185
Equity securities		515,715			105,341			1,697		619,359		715,750			135,813			15,539		836,024
	$	2,075,640		$	347,382		$	13,749	$	2,409,273	$	1,971,732		$	259,016		$	15,539	$	2,215,209

Schedule of debt and equity securities

The Company's debt and equity securities, gross unrealized losses and fair value, aggregated by investment category and length of time that the investment securities have been in a continuous unrealized loss position at July 31, 2013 are as follows.

			Less Than
	Fair Value		12 Months
Mutual funds	$	511,322		$	12,052
Equity securities		181,684			1,697
Total	$	693,006		$	13,749

Schedule of investment income

Investment income for the years ended July 31, 2013, 2012 and 2011 consists of the following:

	2013			2012			2011
Interest income	$	7,955		$	5,121		$	44,409
Dividend income		71,943			45,669			48,072
Gain (loss) on sale of marketable securities		(5,572	)		(18,606	)		10,603
Total	$	74,326		$	32,184		$	103,084