OPERATING LEASES (Tables)

12 Months Ended

Jul. 31, 2024

Operating Leases

Schedule of revenues by lease and non-lease components

	Years Ended July 31,
	2024		2023
Base rent – fixed	$	19,762,211	$	20,541,387
Reimbursements of common area costs		771,496		936,438
Non-lease components (real estate taxes)		1,059,557		1,098,630
Rental income	$	21,593,264	$	22,576,455

	Years Ended July 31,
	2024		2023
Base rent – fixed
Company owned property	$	13,107,528	$	13,856,697
Leased property		6,654,683		6,684,690
		19,762,211		20,541,387
Reimbursements of common area costs & Non lease components (real estate taxes)
Company owned property		1,127,841		1,322,923
Leased property		703,212		712,145
		1,831,053		2,035,068
Total	$	21,593,264	$	22,576,455

Schedule of future minimum non-cancelable rental income

Year Ended July 31,	Company Owned Property		Leased Property		Total
2025	$	11,482,260	$	6,022,977	$	17,505,237
2026		8,397,838		4,460,999		12,858,837
2027		7,081,987		4,114,812		11,196,799
2028		6,244,415		4,068,938		10,313,353
2029		5,651,205		3,243,914		8,895,119
After 2029		21,719,199		6,422,863		28,142,062
Total	$	60,576,904	$	28,334,503	$	88,911,407

Schedule of operating lease right-of-use assets, liabilities and rent expense

	Jamaica Avenue at 169th Street
	Increase in Operating Lease Right- of-Use Asset		Increase in Operating Lease Liability		Decrease in Monthly Rent Expense
Remeasurement change resulting from April 2023 lease extension	$	1,201,952	$	1,201,952	$	(30,563	)

Schedule of rental expense

	Years Ended July 31,
	2024			2023
Sublease income	$	7,357,895		$	7,396,835
Operating lease cost		(2,996,055	)		(3,239,348	)
Excess of sublease income over lease cost	$	4,361,840		$	4,157,487

Schedule of additional information related to leases

	Years Ended July 31,
	2024		2023
Other information:
Operating cash flows from operating leases	$	2,150,129	$	2,132,945

Schedule of annual undiscounted cash flows of the operating lease liabilities

Year ended July 31	Operating Leases
2025	$	2,167,284
2026		2,237,257
2027		2,328,731
2028		2,349,076
2029		2,370,098
Thereafter		21,662,828
Total undiscounted cash flows		33,115,274
Less: present value discount		(7,805,549	)
Total Lease Liabilities	$	25,309,725