CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
|
Apr. 30, 2018 |
Jul. 31, 2017 |
| ASSETS |
|
|
| Property and Equipment - Net (Notes 5 and 6) |
$ 50,004,769
|
$ 49,485,089
|
| Current Assets: |
|
|
| Cash and cash equivalents (Note 4) |
6,478,050
|
5,381,195
|
| Receivables (Note 4) |
63,153
|
164,716
|
| Income taxes refundable |
47,260
|
6,891
|
| Restricted cash |
100,721
|
15,905
|
| Prepaid expenses |
953,346
|
1,675,019
|
| Total current assets |
7,642,530
|
7,243,726
|
| Other Assets: |
|
|
| Deferred charges |
3,485,550
|
3,465,062
|
| Less: accumulated amortization |
1,606,742
|
1,384,142
|
| Net |
1,878,808
|
2,080,920
|
| Restricted cash |
1,513,841
|
1,279,829
|
| Unbilled receivables (Notes 4 and 7) |
1,739,632
|
1,943,648
|
| Marketable securities (Notes 3 and 4) |
2,722,917
|
2,815,727
|
| Total other assets |
7,855,198
|
8,120,124
|
| TOTAL ASSETS |
65,502,497
|
64,848,939
|
| Long-Term Liabilities: |
|
|
| Mortgage payable (Note 5) |
5,301,391
|
5,409,908
|
| Security deposits payable |
1,232,629
|
1,020,292
|
| Deferred Income Taxes (Note 1) |
3,610,000
|
5,637,000
|
| Total long-term liabilities |
10,144,020
|
12,067,200
|
| Current Liabilities: |
|
|
| Accounts payable |
18,400
|
79,103
|
| Payroll and other accrued liabilities |
1,855,135
|
2,515,616
|
| Other taxes payable |
6,300
|
8,135
|
| Current portion of mortgage payable (Note 5) |
167,002
|
162,569
|
| Current portion of security deposits payable |
101,221
|
15,905
|
| Total current liabilities |
2,148,058
|
2,781,328
|
| TOTAL LIABILITIES |
12,292,078
|
14,848,528
|
| 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 $226,000 at April 30, 2018 and $190,000 at July 31, 2017 |
410,988
|
368,476
|
| Retained earnings |
48,562,741
|
45,395,245
|
| Stockholders' Equity before Treasury Stock |
54,498,271
|
51,288,263
|
| Less common stock held in treasury, at cost - 162,517 shares at April 30, 2018 and at July 31, 2017 (Note 10) |
1,287,852
|
1,287,852
|
| Total shareholders' equity |
53,210,419
|
50,000,411
|
| Contingencies (Notes 13) |
|
|
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
$ 65,502,497
|
$ 64,848,939
|