FAIR VALUE DISCLOSURES (Tables)

3 Months Ended

Apr. 30, 2013

FAIR VALUE DISCLOSURES [Abstract]

Estimated fair value and carrying amount of debt

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

	April 30,		January 31,
	2013		2013
Fair value	$	2,863,430	$	2,853,342
Carrying amount		2,535,880		2,639,507

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 at April 30, 2013 and January 31, 2013.

				Quoted Prices
				in Active
				Markets for		Significant			Significant
				Identical		Observable			Unobservable
	Balance at			Assets		Inputs			Inputs
	April 30, 2013			(Level 1)		(Level 2)			(Level 3)
Cash and cash equivalents	$	39,398,603		$	39,398,603	$	-		$	-
Short-term investments		512,325			512,325		-			-
Cash surrender value -  life insurance policies		1,422,796			-		1,422,796			-
Interest rate swap agreement		(303,026	)		-		(303,026	)		-
	$	41,030,698		$	39,910,928	$	1,119,770		$	-

				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		$	-