XML 24 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)
Apr. 30, 2014
Jan. 31, 2014
Current Assets:    
Cash and Cash Equivalents $ 535,117 $ 395,903
Restricted Cash 43,427 114,337
Accounts Receivable, including $175,018 and $55,873 from related parties and net of Allowance for Doubtful Accounts of $18,298 and $23,593, as of April 30, 2014 and January 31, 2014, respectively 444,187 644,566
Note Receivable - Related Party 146,457  
Prepaid Expenses and Other Current Assets 283,788 384,059
Total Current Assets 1,452,976 1,538,865
Hotel Properties, net 23,773,472 23,672,715
Property, Plant and Equipment, net 82,673 89,348
Deferred Finance Costs and Other Assets 69,422 107,575
TOTAL ASSETS 25,378,543 25,408,503
Current Liabilities:    
Accounts Payable and Accrued Expenses 2,012,235 2,221,638
Current Portion of Mortgage Notes Payable 11,643,849 11,753,088
Current Portion of Notes Payable to Banks 855,204 1,018,925
Line of Credit - Related Party   331,390
Current Portion of Other Notes Payable 72,593 81,461
Total Current Liabilities 14,583,881 15,406,502
Mortgage Notes Payable 6,731,434 6,993,483
Other Notes Payable 85,328 106,106
TOTAL LIABILITIES 21,400,643 22,506,091
COMMITMENTS AND CONTINGENCIES (SEE NOTE 10)      
SHAREHOLDERS' EQUITY    
Shares of Beneficial Interest, without par value, unlimited authorization; 16,845,846 and 16,822,746 shares issued and 8,334,450 and 8,341,899 shares outstanding at April 30, 2014 and January 31, 2014, respectively 14,174,363 14,024,668
Treasury Stock, 8,511,396 and 8,480,847 shares held at April 30, 2014 and January 31, 2014, respectively (12,034,717) (11,973,459)
TOTAL TRUST SHAREHOLDERS' EQUITY 2,139,646 2,051,209
NON-CONTROLLING INTEREST 1,838,254 851,203
TOTAL EQUITY 3,977,900 2,902,412
TOTAL LIABILITIES AND EQUITY $ 25,378,543 $ 25,408,503