FAIR VALUE DISCLOSURES (Tables)

9 Months Ended

Oct. 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:

	October 31,		January 31,
	2012		2012
Fair value	$	3,139,492	$	3,747,061
Carrying amount		2,761,024		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
	October 31, 2012			(Level 1)		(Level 2)			(Level 3)
Cash and cash equivalents	$	31,842,244		$	31,842,244	$	-		$	-
Short-term investments		1,022,266			1,022,266		-			-
Cash surrender value -  life insurance policies		1,350,158			-		1,350,158			-
Interest rate swap agreement		(336,063	)		-		(336,063	)		-
	$	33,878,605		$	32,864,510	$	1,014,095		$	-

				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		$	-