XML 23 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Balance Sheets - USD ($)
Jan. 31, 2016
Jan. 31, 2015
Current Assets:    
Cash and Cash Equivalents $ 1,795,666 $ 147,684
Accounts Receivable, including $20,693 and $79,366 from related parties and net of Allowance for Doubtful Accounts of $1,987 and $1,417 as of January 31, 2016 and January 31, 2015, respectively 54,158 117,903
Advances to Affiliates - Related Party 972,184 $ 1,236
Notes Receivable - Related Party 5,761
Prepaid Expenses and Other Current Assets 19,046 $ 30,098
Current Assets of Discontinued Operations and Assets Held for Sale 479,107 836,350
Total Current Assets 3,325,922 1,133,271
Hotel Properties, net 5,029,248 5,101,715
Property, Plant and Equipment, net 202,734 $ 76,092
Intangible Assets 500,000
Goodwill 500,000
Noncurrent assets of Discontinued Operations and Assets Held for Sale 14,382,785 $ 20,716,731
TOTAL ASSETS 23,940,689 27,027,809
Current Liabilities:    
Accounts Payable and Accrued Expenses 895,162 690,351
Current Portion of Mortgage Notes Payable, net of Discount of $2,403 and $8,012 as of January 31, 2016 and January 31, 2015, respectively 130,042 122,605
Current Portion of Notes Payable to Banks, net of Discount of $0 and $14,700 as of January 31, 2016 and January 31, 2015, respectively $ 932,289 567,791
Line of Credit - Related Party 262,659
Current Portion of Other Notes Payable $ 40,801 469,842
Current Liabilities of Discontinued Operations and Assets Held for Sale 1,651,179 8,097,352
Total Current Liabilities 3,649,473 10,210,600
Mortgage Notes Payable, net of discount of $13,418 and $15,821 as of January 31, 2016 and January 31, 2015, respectively 4,962,951 5,094,597
Other Notes Payable 13,889 55,828
Noncurrent Liabilities of Discontinued Operations and Assets Held for Sale 8,343,647 8,701,557
TOTAL LIABILITIES $ 16,969,960 $ 24,062,582
COMMITMENTS AND CONTINGENCIES (SEE NOTE 21)
SHAREHOLDERS' EQUITY    
Shares of Beneficial Interest, without par value, unlimited authorization; 17,406,846 and 16,845,846 shares issued and 8,791,500 and 8,341,899 shares outstanding at January 31, 2016 and January 31, 2015, respectively $ 18,769,849 $ 13,812,470
Treasury Stock, 8,615,346 and 8,580,744 shares held at cost at January 31, 2016 and January 31, 2015, respectively (12,285,915) (12,193,491)
TOTAL TRUST SHAREHOLDERS' EQUITY 6,483,934 1,618,979
NON-CONTROLLING INTEREST 486,795 1,346,248
TOTAL EQUITY 6,970,729 2,965,227
TOTAL LIABILITIES AND EQUITY $ 23,940,689 $ 27,027,809