v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jan. 31, 2017
Jul. 31, 2016
ASSETS    
Property and Equipment - Net (Notes 5 and 6) $ 49,316,647 $ 49,064,737
Current Assets:    
Cash and cash equivalents (Note 4) 5,022,595 5,228,826
Receivables (Note 4) 253,423 293,317
Income taxes refundable 13,705 17,004
Security deposit 13,782  
Prepaid expenses 1,553,701 1,553,217
Total current assets 6,857,206 7,092,364
Other Assets:    
Deferred charges 3,436,477 3,348,031
Less accumulated amortization 1,534,967 1,404,267
Net 1,901,510 1,943,764
Security deposits 1,149,707 1,159,338
Unbilled receivables (Notes 4 and 8) 2,043,236 2,222,846
Marketable securities (Notes 3 and 4) 2,127,048 2,062,205
Total other assets 7,221,501 7,388,153
TOTAL ASSETS 63,395,354 63,545,254
Long-Term Debt:    
Mortgage payable (Note 5) 5,481,302 5,549,600
Security deposits payable 888,335 897,965
Payroll and other accrued liabilities 60,916 90,917
Deferred Income Taxes (Note 1) 5,021,000 4,617,000
Total long-term debt 11,451,553 11,155,482
Current Liabilities:    
Accounts payable 109,398 80,343
Payroll and other accrued liabilities 2,439,764 2,153,850
Security deposit payable 13,782  
Deferred revenue (Note 13) 437,499 1,020,833
Other taxes payable 13,900 6,963
Current portion of note payable - related party (Note 7)   1,000,000
Current portion of long-term debt (Note 5) 159,705 156,846
Total current liabilities 3,174,048 4,418,835
TOTAL LIABILITIES 14,625,601 15,574,317
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 $143,000 at January 31, 2017 and $136,000 at July 31, 2016 277,770 264,541
Retained earnings 44,255,293 43,469,706
Stockholders' Equity before Treasury Stock 50,057,605 49,258,789
Less common stock held in treasury, at cost - 162,517 shares at January 31, 2017 and at July 31, 2016 (Note 11) 1,287,852 1,287,852
Total shareholders' equity 48,769,753 47,970,937
Contingencies (Note 14)      
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 63,395,354 $ 63,545,254