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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Oct. 31, 2014
Jul. 31, 2014
ASSETS    
Property and equipment - Net (Notes 5 and 6) $ 47,422,656 $ 47,458,998
Current Assets:    
Cash and cash equivalents (Note 4) 2,686,634 1,892,760
Receivables (Note 4) 441,869 311,006
Receivable to temporarily vacate lease (Note 13) 1,250,000 1,250,000
Income taxes refundable    196,006
Deferred income taxes 1,482,000 1,564,000
Prepaid expenses 871,898 1,383,994
Total current assets 6,732,401 6,597,766
Other Assets:    
Deferred charges 3,835,016 3,835,016
Less: accumulated amortization 2,213,026 2,126,926
Net 1,621,990 1,708,090
Receivables (Note 4) 30,000 60,000
Security deposits 1,443,410 1,440,755
Unbilled receivables (Notes 4 and 8) 2,565,650 2,556,743
Marketable securities (Notes 3 and 4) 1,432,094 1,354,213
Total other assets 7,093,144 7,119,801
TOTAL ASSETS 61,248,201 61,176,565
LIABILITIES AND SHAREHOLDERS' EQUITY    
Mortgages payable (Note 5) 5,137,640 5,181,335
Note payable - related party (Note 7) 1,000,000 1,000,000
Security deposits payable 737,752 736,103
Deferred revenue (Note 13) 1,895,833 2,187,500
Total long-term debt 8,771,225 9,104,938
Deferred income taxes (Note 1) 4,276,000 4,220,000
Current Liabilities:    
Accounts payable 114,219 144,250
Payroll and other accrued liabilities 2,066,722 2,174,487
Deferred Revenue (Note 13) 1,166,667 1,166,667
Income taxes payable 10,068   
Other taxes payable 2,600 6,357
Current portion of long-term debt (Note 5) 240,000 240,000
Current portion of security deposits payable 10,500 10,500
Total current liabilities 3,610,776 3,742,261
TOTAL LIABILITIES 16,658,001 17,067,199
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 $140,000 at October 31, 2014 and $107,000 at July 31, 2014 171,574 129,412
Retained earnings 40,181,936 39,743,264
Stockholders' Equity before Treasury Stock 45,878,052 45,397,218
Less common stock held in treasury, at cost - 162,517 shares at October 31, 2014 and at July 31, 2014 (Note 11) 1,287,852 1,287,852
Total shareholders' equity 44,590,200 44,109,366
Contingencies (Note 14)      
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 61,248,201 $ 61,176,565