Statements of Cash Flows - USD ($)
|
3 Months Ended |
Apr. 30, 2019 |
Apr. 30, 2018 |
| Operating activities |
|
|
| Royalties received |
$ 3,149,582
|
$ 2,997,561
|
| Interest received |
40,324
|
16,755
|
| Expenses paid |
(817,592)
|
(299,716)
|
| Net cash from operating activities |
2,372,314
|
2,714,600
|
| Investing activities |
|
|
| Maturities of U.S. Government securities |
18,236,603
|
15,853,108
|
| Purchases of U.S. Government securities |
(2,803,492)
|
(371,452)
|
| Net cash used for investing activities |
15,433,111
|
15,481,656
|
| Financing activity |
|
|
| Distributions to unitholders |
(18,236,814)
|
(15,481,612)
|
| Net change in cash and cash equivalents |
(431,389)
|
2,714,644
|
| Cash and cash equivalents, beginning of period |
881,810
|
314,835
|
| Cash and cash equivalents, end of period |
450,421
|
3,029,479
|
| Reconciliation of net income to net cash from operating activities |
|
|
| Net income |
4,910,288
|
6,315,848
|
| Increase in accrued income receivable |
(1,038,520)
|
(2,338,568)
|
| Increase in contract asset |
(1,238,447)
|
(1,331,163)
|
| Increase in prepaid expense |
(16,613)
|
(14,511)
|
| Increase (decrease) in accrued expenses |
(244,394)
|
82,994
|
| Net cash from operating activities |
2,372,314
|
2,714,600
|
| Non cash financing activity |
|
|
| Distributions declared and payable |
$ 11,676,809
|
$ 5,904,005
|