FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Jan. 31, 2013

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Estimated fair value and carrying amount of debt

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

	January 31,
	2013		2012
Fair value	$	2,853,342	$	3,747,061
Carrying amount		2,639,507		3,345,187

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

The following table summarizes the basis used to measure the Company's financial assets (liabilities) at fair value on a recurring basis in the consolidated balance sheets at January 31, 2013 and 2012:

				Quoted Prices
				in Active
				Markets for		Significant			Significant
				Identical		Observable			Unobservable
	Balance at			Assets		Inputs			Inputs
	January 31, 2013			(Level 1)		(Level 2)			(Level 3)
Cash and cash equivalents	$	33,305,908		$	33,305,908	$	-		$	-
Short-term investments		1,022,266			1,022,266		-			-
Cash surrender value -  life insurance policies		1,389,781			-		1,389,781			-
Interest rate swap agreement		(302,972	)		-		(302,972	)		-
	$	35,414,983		$	34,328,174	$	1,086,809		$	-

				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		$	-