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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2024
Jan. 31, 2023
Revenues        
Rental income $ 5,414,843 $ 5,837,819 $ 10,738,644 $ 11,607,553
Total revenues 5,414,843 5,837,819 10,738,644 11,607,553
Expenses        
Real estate operating expenses 3,826,998 3,958,144 7,519,614 7,743,565
Administrative and general expenses 1,486,632 1,406,855 2,741,205 2,657,086
Depreciation 429,258 422,815 857,522 841,311
Total expenses 5,742,888 5,787,814 11,118,341 11,241,962
Income (loss) from operations (328,045) 50,005 (379,697) 365,591
Other income (loss) and interest expense:        
Dividend and interest income 57,191 75,010 66,436 83,807
Net realized gain on marketable securities 149,260 149,260
Net unrealized gain (loss) on marketable securities 55,916 5,762 (107,651) (181,441)
Interest expense, net of capitalized interest (28,381) (71,039) (69,951) (133,702)
Total other income (loss) and interest expense 233,986 9,733 38,094 (231,336)
Income (loss) from operations before income taxes (94,059) 59,738 (341,603) 134,255
Income taxes provided (benefit) 4,000 15,000 (51,000) 30,000
Net income (loss) $ (98,059) $ 44,738 $ (290,603) $ 104,255
Income (loss) per common share, basic $ (0.04) $ 0.02 $ (0.14) $ 0.05
Dividends per share
Average common shares outstanding, basic 2,015,780 2,015,780 2,015,780 2,015,780