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OTHER NOTES PAYABLE	3 Months Ended
Apr. 30, 2024
Other Notes Payable
OTHER NOTES PAYABLE	8. OTHER NOTES PAYABLE As of April 30, 2024, the Trust had approximately $0 in promissory notes outstanding to unrelated third parties arising from the repurchase of 0 Class A Partnership units in privately negotiated transactions. These promissory notes bear interest at 7% per year and are due in varying monthly payments through January 2024. As of April 30, 2024, the Trust had a $200,000 unsecured note payable with an individual lender. The promissory note is payable on demand, or in December 2025, whichever occurs first. The loan accrues interest at 4.5% and interest only payments shall be made monthly. The Trust may pay all of part of this note without any prepayment penalties. The total principal amount of this loan is $200,000 as of April 30, 2024. On July 1, 2019, the Trust and the Partnership together entered into an unsecured loan totaling $270,000 with an individual investor at 4.5%, interest only, payable monthly. The loan has been subsequently extended to December 2024. The Trust may pay all or part of this note without any repayment penalties. The total principal amount of this loan is $270,000 as of April 30, 2024. See Note 9 – “Minimum Debt Payments” for scheduled minimum payments on the debt liabilities.

OTHER NOTES PAYABLE

3 Months Ended

Apr. 30, 2024

8. OTHER NOTES PAYABLE

As of April 30, 2024, the Trust had approximately $0 in promissory notes outstanding to unrelated third parties arising from the repurchase of 0 Class A Partnership units in privately negotiated transactions. These promissory notes bear interest at 7% per year and are due in varying monthly payments through January 2024.

As of April 30, 2024, the Trust had a $200,000 unsecured note payable with an individual lender. The promissory note is payable on demand, or in December 2025, whichever occurs first. The loan accrues interest at 4.5% and interest only payments shall be made monthly. The Trust may pay all of part of this note without any prepayment penalties. The total principal amount of this loan is $200,000 as of April 30, 2024.

On July 1, 2019, the Trust and the Partnership together entered into an unsecured loan totaling $270,000 with an individual investor at 4.5%, interest only, payable monthly. The loan has been subsequently extended to December 2024. The Trust may pay all or part of this note without any repayment penalties. The total principal amount of this loan is $270,000 as of April 30, 2024.

See Note 9 – “Minimum Debt Payments” for scheduled minimum payments on the debt liabilities.