XML 52 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Cash, Cash Equivalents and Restricted Cash
 9 Months Ended
Oct. 31, 2012
Cash, Cash Equivalents and Restricted Cash [Abstract]  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH

NOTE 5 - CASH, CASH EQUIVALENTS AND RESTRICTED CASH

Cash is held on deposit at Bank of America (the “Bank”) in excess of federally insured limits. Management does not believe that the risk associated with keeping deposits in excess of federal deposit limits represents a material risk. The Company considers all liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. At October 31, 2012, a significant portion of the balance of cash and cash equivalents was invested in a high-quality money market fund with at least 80% of its net assets invested in U.S. Treasury obligations and repurchase agreements secured by U.S. Treasury obligations. The fund is sponsored by an investment division of the Bank.

Pursuant to the requirements of an amended construction contract executed in May 2010, GPS established a separate bank account that was used to pay the costs defined as “reimbursable costs” that were incurred on the related construction project and to receive cost reimbursement payments from the project owner. During the nine months ended October 31, 2011, GPS completed the project and the remaining funds in this account in the amount of $1,243,000 were released from restriction.