FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Jan. 31, 2013
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]  
Estimated fair value and carrying amount of debt
The estimated fair value and carrying amount of debt were as follows:

   
January 31,
 
   
2013
  
2012
 
Fair value
 $2,853,342  $3,747,061 
Carrying amount
  2,639,507   3,345,187 
Summary of basis used to measure financial assets (liabilities) at fair value on a recurring basis
The following table summarizes the basis used to measure the Company's financial assets (liabilities) at fair value on a recurring basis in the consolidated balance sheets at January 31, 2013 and 2012:

      
Quoted Prices
       
      
in Active
       
      
Markets for
  
Significant
  
Significant
 
      
Identical
  
Observable
  
Unobservable
 
   
Balance at
  
Assets
  
Inputs
  
Inputs
 
   
January 31, 2013
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
Cash and cash equivalents
 $33,305,908  $33,305,908  $-  $- 
Short-term investments
  1,022,266   1,022,266   -   - 
Cash surrender value -  life insurance policies
  1,389,781   -   1,389,781   - 
Interest rate swap agreement
  (302,972 )  -   (302,972 )  - 
   $35,414,983  $34,328,174  $1,086,809  $- 
 

      
Quoted Prices
       
      
in Active
       
      
Markets for
  
Significant
  
Significant
 
      
Identical
  
Observable
  
Unobservable
 
   
Balance at
  
Assets
  
Inputs
  
Inputs
 
   
January 31, 2012
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
Cash and cash equivalents
 $34,581,394  $34,581,394  $-  $- 
Short-term investments
  764,061   764,061   -   - 
Long-term investments
  494,537   494,537   -   - 
Cash surrender value -  life insurance policies
  1,089,989   -   1,089,989   - 
Interest rate swap agreement
  (366,286 )  -   (366,286 )  - 
   $36,563,695  $35,839,992  $723,703  $-