Marketable Securities (Tables)

9 Months Ended

Apr. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of financial assets measured at fair value on recurring basis

In accordance with the provisions of Fair Value Measurements, the following are the Company's financial assets measured on a recurring basis presented at fair value.

	Fair value measurements at reporting date
	Total								Total
	April 30,								July 31,
Description	2017		Level 1		Level 2		Level 3		2016		Level 1		Level 2		Level 3
Assets:
Marketable securities -
available-for-sale	$	2,721,419	$	2,721,419	$	–	$	–	$	2,062,205	$	2,062,205	$	–	$	–

Schedule of classified marketable securities

As of April 30, 2017 and July 31, 2016, the Company's marketable securities were classified as follows:

	April 30, 2017								July 31, 2016
			Gross		Gross						Gross		Gross
			Unrealized		Unrealized		Fair				Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
Noncurrent:
Available-for-sale:
Mutual funds	$	714,965	$	170,613	$	–	$	885,578	$	551,573	$	143,026	$	–	$	694,599
Equity securities		1,527,969		310,161		2,289		1,835,841		1,110,091		258,869		1,354		1,367,606
	$	2,242,934	$	480,774	$	2,289	$	2,721,419	$	1,661,664	$	401,895	$	1,354	$	2,062,205

Schedule of 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

The Company's 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 are as follows:

	April 30, 2017				July 31, 2016
			Less Than				Less Than
	Fair Value		12 Months		Fair Value		12 Months
Corporate equity securities	$	261,965	$	2,289	$	120,288	$	1,354

Schedule of investment income

Investment income consists of the following:

	Three Months Ended				Nine Months Ended
	April 30				April 30
	2017		2016		2017		2016
Gain (loss) on sale of marketable securities	$	31,155	$	1,539	$	23,734	$	(36,999	)
Interest income		2,941		3,785		9,287		5,450
Dividend income		7,810		4,329		47,449		48,344
Total	$	41,906	$	9,653	$	80,470	$	16,795