Operating Leases (Tables)

6 Months Ended

Jan. 31, 2021

Leases [Abstract]

Schedule of Revenues by Lease and non-lease components

The following table disaggregates the Company's revenues by lease and non-lease components:

	Three Months Ended				Six Months Ended
	January 31				January 31
	2021		2020		2021		2020
Base rent - fixed	$	4,629,553	$	4,515,930	$	9,062,131	$	9,052,029
Reimbursements of common area costs		152,164		163,775		306,695		313,435
Non-lease components (real estate taxes)		265,150		359,355		513,035		709,511
Rental income	$	5,046,867	$	5,039,060	$	9,881,861	$	10,074,975

Schedule of Future Minimum Non-Cancelable Rental Income

Future minimum non-cancelable rental income for leases with initial or remaining terms of one year or more is as follows:
		As of January 31, 2021
		Company Owned		Leased
	Fiscal Year	Property		Property		Total
	For the remainder of 2021	$	5,358,155	$	2,768,597	$	8,126,752
	2022		10,111,752		3,998,024		14,109,776
	2023		9,349,055		3,229,623		12,578,678
	2024		7,537,962		2,946,006		10,483,968
	2025		7,169,666		2,560,604		9,730,270
	2026		5,152,745		1,932,534		7,085,279
	After 2026		33,156,557		7,738,817		40,895,374
	Total	$	77,835,892	$	25,174,205	$	103,010,097

Schedule of Effect on Operating Lease Right-of-Use Assets, Liabilities and Rent Expense

The effect of these lease extensions on the measurement of operating lease right-of-use assets, liabilities and rent expense follows:
		Operating Lease		Operating		Monthly Rent
		Right-of-Use-Asset		Lease Liability		Expense
	Upon initial adoption, August 1, 2019	$	27,104,937	$	16,728,284	$	235,350
	After various lease extensions through April 30, 2020	$	37,698,819	$	29,326,365	$	277,570

Schedule of rental expense

Operating lease costs for leased real property was exceeded by sublease rental income from the Company’s real estate operations as follows:

	Three Months Ended						Six Months Ended
	January 31						January 31
	2021			2020			2021			2020
Sublease income	$	1,740,248		$	1,766,609		$	3,468,281		$	3,521,861
Operating lease cost		(832,707	)		(760,191	)		(1,665,420	)		(1,510,057	)
Excess of sublease income over lease cost	$	907,541		$	1,006,418		$	1,802,861		$	2,011,804

Schedule of annual undiscounted cash flows of the operating lease liabilities

	Three Months Ended				Six Months Ended
	January 31				January 31
Other information:	2021		2020		2021		2020
Operating cash flows from operating leases	$	497,281	$	492,332	$	989,613	$	950,809

The following is a maturity analysis of the annual undiscounted cash flows of the operating lease liabilities as of January 31, 2021:
January 31, 2022	$	2,089,683
January 31, 2023		2,124,546
January 31, 2024		2,141,424
January 31, 2025		2,158,823
January 31, 2026		2,181,170
Thereafter		26,456,772
Total undiscounted cash flows		37,152,418
Less: present value discount		(8,682,186	)
Total Lease Liabilities	$	28,470,232