Marketable Securities (Tables)

6 Months Ended

Jan. 31, 2014

Marketable Securities [Abstract]

Schedule of financial assets measured at fair value

The following are the Company's financial assets presented at fair value at January 31, 2014 and July 31, 2013:

Fair value measurements at reporting date using

	January 31,								July 31,
Description	2014		Level 1		Level 2		Level 3		2013		Level 1		Level 2		Level 3
Assets:
Marketable securities -
available-for-sale:
Mutual funds	$	770,177	$	770,177	$	-	$	-	$	1,789,914	$	1,789,914	$	-	$	-
Equity securities		499,937		499,937		-		-		619,359		619,359		-		-
	$	1,270,114	$	1,270,114	$	-	$	-	$	2,409,273	$	2,409,273	$	-	$	-

Schedule of classified marketable securities

As of January 31, 2014 and July 31, 2013, the Company's marketable securities were classified as follows:

	January 31, 2014								July 31, 2013
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Current:
Held-to-maturity:
Certificate of deposit	$	-	$	-	$	-	$	-	$	50,326	$	-	$	-	$	50,326
Noncurrent:
Available-for-sale:
Mutual funds	$	687,170	$	89,305	$	6,298	$	770,177	$	1,559,925	$	242,041	$	12,052	$	1,789,914
Equity securities		415,518		86,103		1,684		499,937		515,715		105,341		1,697		619,359
	$	1,102,688	$	175,408	$	7,982	$	1,270,114	$	2,075,640	$	347,382	$	13,749	$	2,409,273

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 January 31, 2014, are as follows:

	Fair Value		Less Than 12 Months		More Than 12 Months
Equity securities	$	62,004	$	1,684	$	-
Mutual funds		259,724		-		6,298
Total	$	321,728	$	1,684	$	6,298

Schedule of investment income

Investment income consists of the following:

	Three Months Ended				Six Months Ended
	January 31				January 31
	2014		2013		2014		2013
Gain (loss) on sale of marketable securities	$	5	$	-	$	182,846	$	(517	)
Interest income		343		2,365		1,296		4,892
Dividend income		30,617		44,508		36,247		52,822
Total	$	30,965	$	46,873	$	220,389	$	57,197