| Financial Instruments and Credit Risk Concentrations |
| 4. |
Financial Instruments and Credit Risk Concentrations: |
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Financial instruments that are potentially subject to concentrations of credit risk consist principally of marketable securities, cash and cash equivalents and receivables. Marketable securities and cash and cash equivalents are placed with multiple financial institutions and multiple instruments to minimize risk. No assurance can be made that such financial institutions and instruments will minimize all such risk. |
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The Company derives rental income from approximately fifty tenants, of which one tenant accounted for 17.70%, another tenant accounted for 15.33% and a third tenant accounted for 12.25% of rental income during the nine months ended April 30, 2018. The nine months ended April 30, 2017 had one tenant account for 18.32%, another tenant account for 14.88% and a third tenant account for 10.67% of rental income. No other tenant accounted for more than 10% of rental income during the same periods. |
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The Company has no irrevocable Letters of Credit at April 30, 2018 and had one irrevocable Letter of Credit totaling $230,000 at July 31, 2017 provided by a tenant as a security deposit. |
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