DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Jul. 31, 2013

The components are as follows:

	Years Ended July 31,
	2013		2012		2011
Revenues
Rental income	$	-	$	-	$	-
Fair value adjustment - nonmonetary exchange		-		-		-
Total		-		-		-

Expenses
Real estate operating expenses		-		-		-
Lease termination expenses		-		-		327,779
Depreciation and amortization		-		-		-
Total		-		-		327,779

(Loss) from discontinued operations		-		-		(327,779	)
Income tax (benefit)		-		-		(100,000	)
Net (loss) from discontinued operations - net of taxes	$	-	$	-	$	(227,779	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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