v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Apr. 30, 2016
Jul. 31, 2015
ASSETS    
Property and Equipment - Net (Notes 5 and 6) $ 49,222,890 $ 48,191,392
Current Assets:    
Cash and cash equivalents (Note 4) 4,819,753 4,085,704
Receivables (Note 4) 211,573 638,643
Income taxes refundable 532,866 695,265
Deferred income taxes 3,474,000 3,531,000
Security deposits 70,388 83,012
Prepaid expenses 874,495 1,477,996
Total current assets 9,983,075 10,511,620
Other Assets:    
Deferred charges 3,922,699 3,859,594
Less: accumulated amortization 1,816,109 1,560,205
Net 2,106,590 2,299,389
Receivables (Note 4)    30,000
Security deposits 1,376,136 1,328,952
Unbilled receivables (Notes 4 and 8) 2,325,212 2,613,246
Marketable securities (Notes 3 and 4) 1,433,692 1,461,504
Total other assets 7,241,630 7,733,091
TOTAL ASSETS 66,447,595 66,436,103
Long-Term Debt:    
Mortgages payable (Note 5) 5,669,564 5,786,525
Note payable - related party (Note 7)    1,000,000
Security deposits payable 738,461 693,576
Payroll and other accrued liabilities 121,223 121,223
Deferred revenue (Note 13) 145,832 1,020,833
Total long-term debt 6,675,080 8,622,157
Deferred Income Taxes (Note 1) 7,821,000 7,386,000
Current Liabilities:    
Accounts payable 96,120 39,759
Payroll and other accrued liabilities 2,008,534 2,597,104
Deferred revenue (Note 13) 1,166,667 1,166,667
Other taxes payable 4,436 5,972
Current portion of note payable - related party (Note 7) 1,000,000   
Current portion of long-term debt (Note 5) 155,450 150,763
Current portion of security deposits payable 70,388 83,012
Total current liabilities 4,501,595 4,043,277
TOTAL LIABILITIES 18,997,675 20,051,434
Shareholders' Equity:    
Common stock, par value $1 each share (shares - 5,000,000 authorized; 2,178,297 issued) 2,178,297 2,178,297
Additional paid in capital 3,346,245 3,346,245
Unrealized gain on available-for-sale securities - net of deferred taxes of $96,000 at April 30, 2016 and $101,000 at July 31, 2015 185,792 196,033
Retained earnings 43,027,438 41,951,946
Stockholders' Equity before Treasury Stock 48,737,772 47,672,521
Less common stock held in treasury, at cost - 162,517 shares at April 30, 2016 and at July 31, 2015 (Note 11) 1,287,852 1,287,852
Total shareholders' equity 47,449,920 46,384,669
Contingencies (Note 14)      
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 66,447,595 $ 66,436,103