v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Oct. 31, 2016
Jul. 31, 2016
ASSETS    
Property and Equipment - Net (Notes 5 and 6) $ 49,168,430 $ 49,064,737
Current Assets:    
Cash and cash equivalents (Note 4) 6,016,061 5,228,826
Receivables (Note 4) 581,410 293,317
Income taxes refundable 13,897 17,004
Prepaid expenses 926,073 1,553,217
Total current assets 7,537,441 7,092,364
Other Assets:    
Deferred charges 3,348,031 3,348,031
Less accumulated amortization 1,468,867 1,404,267
Net 1,879,164 1,943,764
Security deposits 1,161,485 1,159,338
Unbilled receivables (Notes 4 and 8) 2,127,814 2,222,846
Marketable securities (Notes 3 and 4) 2,002,818 2,062,205
Total other assets 7,171,281 7,388,153
TOTAL ASSETS 63,877,152 63,545,254
Long-Term Debt:    
Mortgage payable (Note 5) 5,538,505 5,572,477
Security deposits payable 902,117 897,965
Payroll and other accrued liabilities 60,916 90,917
Deferred Income Taxes (Note 1) 4,825,000 4,617,000
Total long-term debt 11,326,538 11,178,359
Current Liabilities:    
Accounts payable 84,931 80,343
Payroll and other accrued liabilities 2,207,945 2,153,850
Deferred revenue (Note 13) 729,166 1,020,833
Other taxes payable 4,203 6,963
Current portion of note payable - related party (Note 7) 1,000,000 1,000,000
Current portion of long-term debt (Note 5) 135,397 133,969
Total current liabilities 4,161,642 4,395,958
TOTAL LIABILITIES 15,488,180 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 $113,000 at October 31, 2016 and $136,000 at July 31, 2016 220,551 264,541
Retained earnings 43,931,731 43,469,706
Stockholders' Equity before Treasury Stock 49,676,824 49,258,789
Less common stock held in treasury, at cost - 162,517 shares at October 31, 2016 and at July 31, 2016 (Note 11) 1,287,852 1,287,852
Total shareholders' equity 48,388,972 47,970,937
Contingencies (Note 14)      
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 63,877,152 $ 63,545,254