FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jul. 31, 2012

FAIR VALUE DISCLOSURES [Abstract]

Estimated fair value and carrying amount of debt

The estimated fair value and carrying amount of debt were as follows:

	July 31,	January 31,
	2012		2012
Fair value	$3,443,543		$3,747,061
Carrying amount	3,047,004		3,345,187

Summary of basis used to measure financial assets (liabilities) at fair value on a recurring basis

The following tables summarize the basis used to measure the Company's financial assets (liabilities) at fair value on a recurring basis in the consolidated balance sheets.

			Quoted Prices
			in Active
			Markets for	Significant		Significant
			Identical	Observable		Unobservable
	Balance at		Assets	Inputs		Inputs
	July 31, 2012		(Level 1)	(Level 2)		(Level 3)
Cash and cash equivalents	$31,173,910		$31,173,910	$-		$-
Short-term investments	1,022,266		1,022,266	-		-
Long-term investments	246,473		246,473	-		-
Cash surrender value -  life insurance policies	1,147,287		-	1,147,287		-
Interest rate swap agreement	(357,167	)	-	(357,167	)	-
	$33,232,769		$32,442,649	$790,120		$-

			Quoted Prices
			in Active
			Markets for	Significant		Significant
			Identical	Observable		Unobservable
	Balance at		Assets	Inputs		Inputs
	January 31, 2012		(Level 1)	(Level 2)		(Level 3)
Cash and cash equivalents	$34,581,394		$34,581,394	$-		$-
Short-term investments	764,061		764,061	-		-
Long-term investments	494,537		494,537	-		-
Cash surrender value -  life insurance policies	1,089,989		-	1,089,989		-
Interest rate swap agreement	(366,286	)	-	(366,286	)	-
	$36,563,695		$35,839,992	$723,703		$-