<SEC-DOCUMENT>0001206774-16-004775.txt : 20160303
<SEC-HEADER>0001206774-16-004775.hdr.sgml : 20160303
<ACCEPTANCE-DATETIME>20160303080122
ACCESSION NUMBER:		0001206774-16-004775
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		58
CONFORMED PERIOD OF REPORT:	20160131
FILED AS OF DATE:		20160303
DATE AS OF CHANGE:		20160303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAYS J W INC
		CENTRAL INDEX KEY:			0000054187
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATORS OF NONRESIDENTIAL BUILDINGS [6512]
		IRS NUMBER:				111059070
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03647
		FILM NUMBER:		161479569

	BUSINESS ADDRESS:	
		STREET 1:		9 BOND ST
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201-5805
		BUSINESS PHONE:		7186247400

	MAIL ADDRESS:	
		STREET 1:		9 BOND STREET
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201-5805
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>jw_10q.htm
<DESCRIPTION>QUARTERLY REPORT
<TEXT>

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<P align=center><B><FONT face="Times New Roman" size=2>FORM 10-Q</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>UNITED STATES
<BR></FONT></B><B><FONT face="Times New Roman" size=2>SECURITIES AND EXCHANGE
COMMISSION<BR>Washington, D. C. 20549 </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>[ </FONT><B><FONT face="Times New Roman" size=2>X </FONT></B><FONT face="Times New Roman" size=2>]
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>For the quarterly period
ended&nbsp; </FONT><B><U><FONT face="Times New Roman" size=2>January 31,
2016</FONT></U></B></P>
<P align=left><FONT face="Times New Roman" size=2>[ &nbsp;&nbsp;] TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934</FONT></P>
<P style="TEXT-INDENT: 15pt" align=left><FONT face="Times New Roman" size=2>For
the transition period from ________________ to ________________</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>Commission file number
</FONT><B><U><FONT face="Times New Roman" size=2>1-3647</FONT></U></B></P>
<P align=center><B><U><FONT face="Times New Roman" size=2>J.W. Mays,
Inc.</FONT></U></B><FONT face="Times New Roman" size=2> <BR></FONT><FONT face="Times New Roman" size=2>(Exact name of registrant as specified in its
charter) </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><B><U><FONT face="Times New Roman" size=2>New York</FONT></U></B></TD>
    <TD noWrap align=left width="34%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><B><U><FONT face="Times New Roman" size=2>11-1059070</FONT></U></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(State or other jurisdiction of
      incorporation or organization)</FONT></TD>
    <TD noWrap align=left width="34%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(I.R.S. Employer Identification
    No.)</FONT></TD></TR>
  <TR>
    <TD style="TEXT-ALIGN: center" width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><B><U><FONT face="Times New Roman" size=2>9 Bond Street, Brooklyn, New
      York</FONT></U></B></TD>
    <TD noWrap align=left width="34%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><B><U><FONT face="Times New Roman" size=2>11201-5805</FONT></U></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(Address of principal executive
      offices)</FONT></TD>
    <TD noWrap align=left width="34%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(Zip Code)</FONT></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>(Registrant's telephone
number, including area code) </FONT><B><U><FONT face="Times New Roman" size=2>718-624-7400</FONT></U></B><FONT face="Times New Roman" size=2>
</FONT></P>
<P align=center><U><B><FONT face="Times New Roman" size=2>Not
Applicable</FONT></B></U><FONT face="Times New Roman" size=2> <BR></FONT><FONT face="Times New Roman" size=2>(Former name, former address and former fiscal
year, if changed since last report) </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Indicate by check mark whether
the registrant (1) has filed all reports required to be filed by Section 13 or
15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days.&nbsp;&nbsp;&nbsp;</FONT><FONT face="Times New Roman" size=2>Yes
&nbsp;<U>&nbsp;&nbsp;&nbsp;</U></FONT><B><FONT face="Times New Roman" size=2><U>X&nbsp;&nbsp; </U>&nbsp;&nbsp;&nbsp;</FONT></B><FONT face="Times New Roman" size=2>No
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Indicate by check mark whether
the registrant has submitted electronically and posted on its corporate Web
site, if any, every Interactive Data File required to be submitted and posted
pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required
to submit and post such files).&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>Yes &nbsp;<U>&nbsp;&nbsp;&nbsp;</U></FONT><B><FONT face="Times New Roman" size=2><U>X&nbsp;&nbsp; </U>&nbsp;&nbsp;&nbsp;</FONT></B><FONT face="Times New Roman" size=2>No&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</U></FONT></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of
&#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148;
in Rule 12b-2 of the Exchange Act. </FONT><BR><FONT face="Times New Roman" size=2>Large accelerated filer ____&nbsp;&nbsp;&nbsp; Accelerated filer
____&nbsp;&nbsp;&nbsp; Non-accelerated filer ____&nbsp;&nbsp;&nbsp; Smaller
reporting company <B><U><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;<STRONG>X
&nbsp;&nbsp;</STRONG>.</FONT></U></B></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Indicate by check mark whether
the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act).
Yes&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;&nbsp;No</FONT><U><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman"><STRONG>X &nbsp;&nbsp;</STRONG></FONT><FONT face="Times New Roman">.</FONT></FONT></U></P>
<P align=left><FONT face="Times New Roman" size=2>Indicate the number of shares
outstanding of the issuer's common stock, as of the latest practicable date.
</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>Class</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="74%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>Outstanding at&nbsp;March
      2, 2016</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="10%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Common Stock, $1 par value</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="74%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="15%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,015,780 shares</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=3>&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="74%"></TD>
    <TD noWrap align=left width="15%"><FONT face="Times New Roman" size=2>This
      report contains 25 pages.</FONT></TD></TR></TABLE>
<P STYLE="text-align: center"><FONT face="Times New Roman" size=2>-1-</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>J. W. MAYS,
INC.</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>INDEX</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD noWrap align=left width="98%" colSpan=4></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><STRONG><FONT size=2 face="Times New Roman"><STRONG>Page
      No.</STRONG></FONT></STRONG></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=4><FONT face="Times New Roman" size=2>Part I - Financial Information:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="99%" bgColor=#c0c0c0 colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD align=left width="97%" colSpan=3><FONT size=2 face="Times New Roman">Item 1. Financial Statements</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left width="95%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="96%" bgColor=#c0c0c0 colSpan=2><FONT face="Times New Roman" size=2>Condensed Consolidated Balance Sheets &#150; January
      31, 2016 (unaudited)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">and July 31, 2015</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">3</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="96%" colSpan=2><FONT face="Times New Roman" size=2>Condensed Consolidated Statements of Operations
      and Retained Earnings</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&#150; Three and six
      months ended January 31, 2016 and 2015 (unaudited)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>4</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="96%" bgColor=#c0c0c0 colSpan=2><FONT face="Times New Roman" size=2>Condensed Consolidated Statements of
      Comprehensive Income</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&#150; Three and six months ended January 31, 2016
      and 2015 (unaudited)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>5</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="96%" colSpan=2><FONT face="Times New Roman" size=2>Condensed Consolidated Statements of Cash
      Flows</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&#150; Six months
      ended January 31, 2016 and 2015 (unaudited)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>6</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="96%" bgColor=#c0c0c0 colSpan=2><FONT face="Times New Roman" size=2>Notes to Condensed Consolidated Financial
      Statements</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>7 - 15</FONT></TD></TR>
  <TR>
    <TD width="99%" bgColor=#c0c0c0 colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT size=2 face="Times New Roman">Item 2. Management's Discussion and
      Analysis of Results</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT size=2 face="Times New Roman">of Operations and Financial Condition</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">16 - 18</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" bgColor=#c0c0c0 colSpan=3><FONT size=2 face="Times New Roman">Item 3. Quantitative and
      Qualitative Disclosures About Market Risk</FONT> <FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>19</FONT></TD></TR>
  <TR>
    <TD width="99%" bgColor=#c0c0c0 colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT size=2 face="Times New Roman">Item 4. Controls and Procedures</FONT>
      <FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>19</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=4><FONT face="Times New Roman" size=2>Part II - Other Information:</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT size=2 face="Times New Roman">Item 1. Legal Proceedings</FONT> <FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>20</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="97%" bgColor=#c0c0c0 colSpan=3><FONT size=2 face="Times New Roman">Item 1A. Risk Factors</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">20</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT size=2 face="Times New Roman">Item 2. Unregistered Sales of Equity
      Securities and Use of Proceeds</FONT> <FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>20</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" bgColor=#c0c0c0 colSpan=3><FONT size=2 face="Times New Roman">Item 3. Defaults Upon Senior
      Securities</FONT> <FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>20</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT size=2 face="Times New Roman">Item 4. Mine Safety Disclosures</FONT>
      <FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>20</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" bgColor=#c0c0c0 colSpan=3><FONT size=2 face="Times New Roman">Item 5. Other Information</FONT>
      <FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>20</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT size=2 face="Times New Roman">Item 6. Exhibits and Reports on Form
      8-K</FONT> <FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>20 -
  21</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="97%" bgColor=#c0c0c0 colSpan=3><FONT size=2 face="Times New Roman">Signatures</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">22</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT size=2 face="Times New Roman">Exhibit 31 Certifications Pursuant to
      Section 302 of the Sarbanes-Oxley Act of 2002</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="96%" bgColor=#c0c0c0 colSpan=2><FONT size=2 face="Times New Roman">31.1 - Chief Executive
      Officer</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">23</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="96%" colSpan=2><FONT size=2 face="Times New Roman">31.2 - Chief Financial Officer</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">24</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="97%" bgColor=#c0c0c0 colSpan=3><FONT size=2 face="Times New Roman">Exhibit 32 Certification Pursuant
      to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="96%" bgColor=#c0c0c0 colSpan=2><FONT size=2 face="Times New Roman">18 U.S.C. Section 1350</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">25</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>-2-</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Part 1 - Financial
Information<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 1 - Financial
Statements</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>J. W. MAYS,
INC.<BR></FONT></B><B><FONT face="Times New Roman" size=2>CONDENSED CONSOLIDATED
BALANCE SHEETS</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" colSpan=2><FONT face="Times New Roman" size=2>January 31</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" colSpan=2><FONT face="Times New Roman" size=2>July 31</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="90%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face="Times New Roman" size=2>2016</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" colSpan=2><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" colSpan=2><FONT face="Times New Roman" size=2>(Audited)</FONT></TD></TR>
  <TR>
    <TD noWrap align=center width="90%"bgColor=#c0c0c0><STRONG><U><FONT size=2>ASSETS</FONT></U></STRONG></TD>
    <TD noWrap width="1%"bgColor=#c0c0c0></TD>
    <TD noWrap width="4%"bgColor=#c0c0c0 colSpan=2></TD>
    <TD noWrap width="1%"bgColor=#c0c0c0></TD>
    <TD noWrap width="4%"bgColor=#c0c0c0 colSpan=2></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>Property and Equipment - Net (Notes 5 and 6)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>48,634,085</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>48,191,392</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Current Assets:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents
      (Note 4)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>4,534,381</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>4,085,704</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables (Note
      4)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>720,050</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>638,643</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate taxes
      refundable</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>16,474</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#150;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes
      refundable</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>597,866</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>695,265</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income
      taxes</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>3,437,000</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>3,531,000</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security
    deposits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>88,584</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>83,012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid
expenses</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,465,145</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,477,996</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
      current assets</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>10,859,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>10,511,620</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" bgColor=#c0c0c0 colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>Other Assets:</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred
charges</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>3,901,664</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>3,859,594</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: accumulated
      amortization</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,730,284</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,560,205</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,171,380</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,299,389</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables (Note
      4)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>30,000</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security
    deposits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,244,472</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,328,952</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unbilled receivables
      (Notes 4 and 8)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,421,224</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,613,246</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketable securities
      (Notes 3 and 4)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,168,462</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,461,504</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
      other assets</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>7,005,538</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>7,733,091</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL
      ASSETS</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>66,499,123</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>66,436,103</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" bgColor=#c0c0c0 colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="90%"><B><U><FONT face="Times New Roman" size=2>LIABILITIES AND SHAREHOLDERS'
      EQUITY</FONT></U></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Long-Term Debt:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgages payable (Note
      5)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>5,709,650</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>5,786,525</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note payable - related
      party (Note 7)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,000,000</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security deposits
      payable</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>606,997</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>693,576</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payroll and other accrued
      liabilities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>121,223</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>121,223</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue (Note
      13)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>437,500</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,020,833</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
      long-term debt</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>6,875,370</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>8,622,157</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" bgColor=#c0c0c0 colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>Deferred Income Taxes (Note 1)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>7,586,000</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>7,386,000</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Current Liabilities:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
payable</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>100,192</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>39,759</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payroll and other accrued
      liabilities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,561,484</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,597,104</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue (Note
      13)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,166,666</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,166,667</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other taxes
    payable</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>12,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>5,972</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of note
      payable - related party (Note 7)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,000,000</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>-</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of
      long-term debt (Note 5)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>153,511</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>150,763</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of
      security deposits payable</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>88,584</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>83,012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
      current liabilities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>5,082,437</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4,043,277</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" bgColor=#c0c0c0 colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL
      LIABILITIES</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>19,543,807</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>20,051,434</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Shareholders' Equity:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value
      $1 each share (shares - 5,000,000</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;authorized;
      2,178,297 issued)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,178,297</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,178,297</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid in
      capital</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>3,346,245</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>3,346,245</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gain on
      available-for-sale securities - net of deferred taxes of</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$73,000
      at January 31, 2016 and $101,000 at July 31, 2015</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>142,579</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>196,033</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained
    earnings</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>42,576,047</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>41,951,946</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#ffffff>&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>48,243,168</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>47,672,521</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less common stock held in
      treasury, at cost - 162,517</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
      at January 31, 2016 and at July 31, 2015 (Note 11)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,287,852</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,287,852</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#ffffff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
      shareholders' equity</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#ffffff><FONT face="Times New Roman" size=2>46,955,316</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#ffffff><FONT face="Times New Roman" size=2>46,384,669</FONT></TD></TR>
  <TR>
    <TD align=left width="100%" bgColor=#ffffff colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Contingencies (Note 14)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD align=left width="100%" bgColor=#c0c0c0 colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="90%" bgColor=#ffffff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL
      LIABILITIES AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#ffffff><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#ffffff><FONT face="Times New Roman" size=2>66,499,123</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#ffffff><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#ffffff><FONT face="Times New Roman" size=2>66,436,103</FONT></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=2>See Notes to Condensed
Consolidated Financial Statements.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-3-</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>J. W. MAYS,
INC.<BR></FONT></B><B><FONT face="Times New Roman" size=2>CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS AND RETAINED EARNINGS</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="11%" colSpan=7><FONT face="Times New Roman" size=2>Three Months
      Ended</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="11%" colSpan=7><FONT face="Times New Roman" size=2>Six Months
      Ended</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" colSpan=7><FONT face="Times New Roman" size=2>January 31</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" colSpan=7><FONT face="Times New Roman" size=2>January 31</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=3><FONT size=2 face="Times New Roman">2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=3><FONT face="Times New Roman" size=2>2015</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=3><FONT size=2 face="Times New Roman">2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=3><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Revenues</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rental
      income (Notes 4 and 8)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>4,315,940</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>4,412,233</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>8,593,334</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>8,752,590</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recovery of
      real estate taxes</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>10,625</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue to
      temporarily vacate lease (Note 13)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>291,667</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>291,667</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>583,334</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>583,334</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4,607,607</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4,703,900</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>9,176,668</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>9,346,549</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="100%" bgColor=#c0c0c0 colSpan=17>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><B><FONT face="Times New Roman" size=2>Expenses</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate
      operating expenses</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,571,056</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,470,736</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4,979,655</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4,794,934</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administrative and general expenses</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,264,471</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,139,437</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,320,453</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,122,730</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation
      and amortization (Note 6)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>407,400</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>443,822</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>814,150</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>884,807</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>4,242,927</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>4,053,995</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>8,114,258</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>7,802,471</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=17>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Income from
      operations before investment income,</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;interest expense and income
      taxes</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>364,680</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>649,905</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,062,410</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,544,078</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="100%" bgColor=#c0c0c0 colSpan=17>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>Investment
      income and interest expense:</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment
      income (loss) (Note 3)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(80</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>26,353</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>7,142</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>32,544</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
      expense (Notes 5, 7 and 10)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(58,874</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(92,345</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(123,451</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(201,037</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(58,954</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(65,992</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(116,309</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(168,493</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR>
    <TD width="100%" bgColor=#c0c0c0 colSpan=17>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>Income from
      operations before income taxes</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>305,726</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>583,913</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>946,101</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,375,585</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Income taxes
      provided</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>83,000</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>255,000</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>322,000</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>608,000</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>Net
      income</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>222,726</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>328,913</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>624,101</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>767,585</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=17>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Retained
      earnings, beginning of period</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>42,353,321</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>40,181,936</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>41,951,946</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>39,743,264</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>Retained
      earnings, end of period</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42,576,047</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40,510,849</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42,576,047</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40,510,849</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=17>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Income per
      common share (Note 2)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>.11</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>.16</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>.31</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>.38</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="100%" bgColor=#c0c0c0 colSpan=17>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=2>Dividends
      per share</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman">$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman">$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=17>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Average
      common shares outstanding</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,015,780</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,015,780</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,015,780</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,015,780</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=2>See Notes to Condensed
Consolidated Financial Statements.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-4-</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P STYLE="text-align: center"><B><FONT face="Times New Roman" size=2>J. W. MAYS,
INC.</FONT><BR>
<FONT face="Times New Roman" size=2>CONDENSED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="7%" colSpan=7><FONT face="Times New Roman" size=2>Three Months Ended</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="6%" colSpan=6><FONT face="Times New Roman" size=2>Six Months Ended</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=7><FONT face="Times New Roman" size=2>January 31</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" colSpan=6><FONT face="Times New Roman" size=2>January 31</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=3><FONT face="Times New Roman" size=2>2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=3><FONT face="Times New Roman" size=2>2015</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=3><FONT face="Times New Roman" size=2>2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Net
      income</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>222,726</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>328,913</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>624,101</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>767,585</FONT></TD></TR>
  <TR>
    <TD align=left width="101%" bgColor=#c0c0c0 colSpan=16>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>Unrealized gain (loss) on
      available-for-sale securities:</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized holding gains
      (losses) arising during the period,</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;net of taxes
      (benefit) of ($17,000) and ($10,000) for the three</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;months
      ended January 31, 2016 and 2015, respectively,</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and
      ($28,000) and $23,000 for the six months ended</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;January
      31, 2016 and 2015, respectively.</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(34,050</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(12,823</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(53,454</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>29,339</FONT></TD></TR>
  <TR>
    <TD align=left width="101%" bgColor=#c0c0c0 colSpan=16>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>Comprehensive income</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188,676</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316,090</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570,647</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796,924</FONT></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=2>See Notes to Condensed
Consolidated Financial Statements.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-5-</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>J. W. MAYS,
INC.<BR></FONT></B><B><FONT face="Times New Roman" size=2>CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="87%"></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="11%" colSpan=7><FONT face="Times New Roman" size=2>Six Months
      Ended</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="87%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" colSpan=7><FONT face="Times New Roman" size=2>January 31</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="87%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=3><FONT face="Times New Roman" size=2>2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=3><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="87%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><FONT face="Times New Roman" size=2>(Unaudited)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Cash Flows
      From Operating Activities:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
      income</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>624,101</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>767,585</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Adjustments
      to reconcile net income to</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;net
      cash provided by operating activities:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation
      and amortization</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>814,150</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>884,807</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization
      of deferred charges</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>170,079</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>181,870</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realized
      (gain) loss on sale of marketable securities</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>38,538</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(386</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
      assets - unbilled receivables</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>192,022</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(17,813</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- deferred charges</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(42,070</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(414,970</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred
      income taxes</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>322,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>353,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred
      revenue</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(583,334</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(583,334</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Changes
      in:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(51,407</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(40,394</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real
      estate tax refundable</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(16,474</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">-</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income
      taxes refundable</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>97,399</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(68,926</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid
      expenses</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>12,851</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(21,586</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
      payable</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>60,433</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(50,343</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payroll
      and other accrued liabilities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(35,620</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>207,873</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
      taxes payable</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT size=2 face="Times New Roman">6,028</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>4,320</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
      provided by operating activities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">1,608,696</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,201,703</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD align=left width="99%" bgColor=#c0c0c0 colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>Cash Flows
      From Investing Activities:</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital
      expenditures</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,256,843</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(871,925</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security
      deposits</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>78,908</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>39,262</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketable
      securities:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receipts
      from sales or maturities</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>238,663</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="3%" bgColor=#ffffff><FONT face="Times New Roman" size=2>270,974</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments
      for purchases</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">(65,613</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(302,246</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
      (used) by investing activities</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT size=2 face="Times New Roman">(1,004,885</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(863,935</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Cash Flows
      From Financing Activities:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase
      - security deposits</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(81,007</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>20,107</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase
      - mortgage debt</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT style="BACKGROUND-COLOR: #ffffff" size=2></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>652,274</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage
      and other debt payments</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT size=2 face="Times New Roman">(74,127</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(73,609</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
      provided (used) by financing activities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">(155,134</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>598,772</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD align=left width="99%" bgColor=#c0c0c0 colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>Increase in
      cash and cash equivalents</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>448,677</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>936,540</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Cash and
      cash equivalents at beginning of period</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">4,085,704</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,892,760</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD align=left width="99%" bgColor=#c0c0c0 colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>Cash and
      cash equivalents at end of period</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT size=2 face="Times New Roman">4,534,381</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,829,300</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=2>See Notes to Condensed
Consolidated Financial Statements.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-6-</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>J. W. MAYS, INC.
<BR></FONT></B><B><FONT face="Times New Roman" size=2>NOTES TO CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS </FONT></B></P>
<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><B><FONT face="Times New Roman" size=2>1.</FONT></B></TD>
    <TD vAlign=top align=left width="99%"><B><FONT face="Times New Roman" size=2>Accounting Records and Use of
      Estimates:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="99%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%">
      <P align=left><FONT face="Times New Roman" size=2>The accounting records
      are maintained in accordance with accounting principles generally accepted
      in the United States of America (&#147;GAAP&#148;). The preparation of the Company&#146;s
      financial statements in accordance with GAAP requires management to make
      estimates and assumptions that affect the reported amounts of assets and
      liabilities at the date of the financial statements, the disclosure of
      contingent assets and liabilities, and the reported amounts of revenues
      and expenses during the reporting period. The estimates that we make
      include allowance for doubtful accounts, depreciation and amortization,
      income tax assets and liabilities, fair value of marketable securities and
      revenue recognition. Estimates are based on historical experience where
      applicable or other assumptions that management believes are reasonable
      under the circumstances. Due to the inherent uncertainty involved in
      making estimates, actual results may differ from those estimates under
      different assumptions or conditions. </FONT></P>
      <P align=left><FONT face="Times New Roman" size=2>The interim financial
      statements are prepared pursuant to the requirements for reporting on Form
      10-Q. The July 31, 2015 condensed consolidated balance sheet was derived
      from audited financial statements but does not include all disclosures
      required by GAAP. The interim financial statements and notes thereto
      should be read in conjunction with the financial statements and notes
      included in the Company's latest Form 10-K Annual Report for the fiscal
      year ended July 31, 2015. In the opinion of management, the interim
      financial statements reflect all adjustments of a normal recurring nature
      necessary for a fair statement of the results for interim periods. The
      results of operations for the current period are not necessarily
      indicative of the results for the entire fiscal year ending July 31, 2016.
      </FONT></P>
      <P align=left><FONT face="Times New Roman" size=2>The computation of the
      annual expected effective tax rate at each interim period requires certain
      estimates and assumptions including, but not limited to, the expected
      operating income for the year and future periods, projections of the
      proportion of income (or loss), and permanent and temporary differences.
      The accounting estimates used to compute the provision for income taxes
      may change as new events occur, more experience is acquired, or as
      additional information is obtained. To the extent that the estimated
      annual effective tax rate changes during a quarter, the effect of the
      change on prior quarters is included in tax expense for the current
      quarter.</FONT></P>
      <P align=left><FONT face="Times New Roman" size=2>On September 13, 2013,
      the U.S. Department of the Treasury and the Internal Revenue Service
      released final income tax regulations on the deduction and capitalization
      of expenditures related to tangible property (&#147;tangible property
      regulations&#148;). The tangible property regulations clarify and expand
      sections 162(a) and 263(a) of the Internal Revenue Code (&#147;IRC&#148;), which
      relate to amounts paid to acquire, produce, or improve tangible property.
      Additionally, the tangible property regulations provide final guidance
      under IRC section 167 regarding accounting for and retirement of
      depreciable property and regulations under IRC section 168 relating to the
      accounting for property under the Modified Accelerated Cost Recovery
      System. The tangible property regulations affect all taxpayers that
      acquire, produce, or improve tangible property, and generally apply to
      taxable years beginning on or after January 1, 2014. The Company
      implemented the tangible property regulations with the filing of the
      federal tax return for the year ended July 31, 2015. </FONT></P>
      <P align=left><FONT face="Times New Roman" size=2>For the year ended July
      31, 2015, after implementing the tangible property regulations, the
      Company incurred a federal net operating loss of $8,191,403. The Company
      was able to carryback $1,582,003, generating a federal income tax refund
      receivable of $537,881. The remainder of the federal net operating loss
      approximating $6,609,000 will be available to offset future taxable
      income. In addition, as of July 31, 2015 the Company had state and city
      net operating loss carryforwards of approximately $9,000,000 available to
      offset future state and city taxable income. The net operating loss
      carryforwards will expire, if not used, in 2035. </FONT></P>
      <P align=left><FONT face="Times New Roman" size=2>New York State and New
      York City taxes for years through July 31, 2015 are calculated using the
      higher of taxes based on income or the respective capital-based franchise
      taxes. In April 2014, the New York State governor signed into law
      legislation overhauling the New York State franchise tax on corporations.
      The changes in the law will be effective for the Company&#146;s year ending
      July 31, 2016. The state capital-based tax will be phased out over a 7-year
period. As of July, 2015, the Company anticipates New York State taxes will be
based on capital through 2022, and New York City taxes will be based on capital
for the foreseeable future. Capital based franchise taxes are recorded to
administrative and general expense.</FONT></P></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>-7-</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>
      <P align=left><FONT face="Times New Roman" size=2>Due to the application
      of the capital-based tax while the net operating loss still applies, or
      due to the possible absence of State taxable income in the years beyond
      2022 to which the State loss can be carried, the Company has not recorded
      the New York State or New York City tax benefit of its net operating loss
      carryforwards. Also, to reflect its expectation that reversal of temporary
      differences will not result in New York State or City tax based on income,
      as of July 31, 2015 the Company decreased the deferred tax asset, deferred
      tax liability, and deferred taxes on unrealized loss on available-for-sale
      securities by $380,000, $771,000 and $26,000, respectively, resulting in a
      State and City deferred tax benefit of $365,000. </FONT></P>
      <P align=left><B><FONT face="Times New Roman" size=2>Recent accounting
      pronouncements: </FONT></B></P>
      <P align=left><FONT face="Times New Roman" size=2>In July 2013, the
      Financial Accounting Standards Board (FASB) issued Accounting Standards
      Update (ASU) 2013-11, "Presentation of an Unrecognized Tax Benefit When a
      Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Carryforward
      Exists.&#148; The Company adopted ASU 2013-11 in the fourth quarter of fiscal
      year ended July 31, 2015. The adoption of this standard did not have a
      significant impact on these condensed consolidated financial statements.
      </FONT></P>
      <P align=left><FONT face="Times New Roman" size=2>In May 2014, the FASB
      issued an update (&#147;ASU 2014-09&#148;) establishing ASC Topic 606 Revenue from
      Contracts with Customers. ASU 2014-09 establishes a single comprehensive
      model for entities to use in accounting for revenue arising from contracts
      with customers and supersedes most of the existing revenue recognition
      guidance. ASU 2014-09 requires an entity to recognize revenue when it
      transfers promised goods or services to customers in an amount that
      reflects the consideration to which the entity expects to be entitled in
      exchange for those goods or services and also requires certain additional
      disclosures. ASU 2014-09 is effective for interim and annual reporting in
      fiscal years that begin after December 15, 2016. ASU 2015-14 extended the
      implementation date for fiscal years beginning after December 31, 2017.
      The adoption of the update on August </FONT><FONT face="Times New Roman" size=2>1, 2018 is not expected to have a significant impact on our
      consolidated financial statements.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><B><FONT face="Times New Roman" size=2>2.</FONT></B></TD>
    <TD vAlign=top align=left width="99%" colSpan=2><B><FONT face="Times New Roman" size=2>Income Per Share of Common
  Stock:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="99%" colSpan=2></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>
      <P align=left><FONT face="Times New Roman" size=2>Income per share has
      been computed by dividing the net income for the periods by the weighted
      average number of shares of common stock outstanding during the periods,
      adjusted for the purchase of treasury stock. Shares used in computing
      income per share were 2,015,780 for the six months ended January 31, 2016
      and January 31, 2015. </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"><STRONG><FONT size=2 face="Times New Roman">3.</FONT></STRONG></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>
      <P align=left><B><FONT face="Times New Roman" size=2>Marketable
      Securities:</FONT></B></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>
      <P align=left><FONT face="Times New Roman" size=2>The Company categorizes
      marketable securities as either trading, available-for-sale or
      held-to-maturity. Trading securities are carried at fair value with
      unrealized gains and losses included in income. Available-for-sale
      securities are carried at fair value measurements using quoted prices in
      active markets for identical assets or liabilities with unrealized gains
      and losses recorded as a separate component of shareholders' equity.
      Held-to-maturity securities are carried at amortized cost. Dividends and
      interest income are accrued as earned. Realized gains and losses are
      determined on a specific identification basis. The Company reviews
      marketable securities for impairment whenever circumstances and situations
      change such that there is an indication that the carrying amounts may not
      be recovered. The Company did not classify any securities as trading or
      held to maturity during the six months ended January 31, 2016 and July 31,
      2015. </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>
      <P align=left><FONT face="Times New Roman" size=2>The Company follows GAAP
      which establishes a fair value hierarchy that prioritizes the valuation
      techniques and creates the following three broad levels, with Level 1
      valuation being the highest priority: </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="98%"><FONT face="Times New Roman" size=2>Level 1 valuation inputs are quoted market
      prices in active markets for identical assets or liabilities that are
      accessible at the measurement date (e.g., equity securities traded on the
      New York Stock Exchange). </FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>-8-</FONT></P>

<HR align=center width="100%" noshade SIZE=2>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<!-- B -->
<P ALIGN="LEFT" STYLE="margin-left: 30pt"><FONT face="Times New Roman" size=2>Level 2 valuation inputs are
from other than quoted market prices included in Level 1 that are observable for
the asset or liability, either directly or indirectly (e.g., quoted market
prices of similar assets or liabilities in active markets, or quoted market
prices for identical or similar assets or liabilities in markets that are not
active).</FONT></P>
<P ALIGN="LEFT" STYLE="margin-left: 30pt"><FONT face="Times New Roman" size=2>Level 3 valuation inputs are
unobservable (e.g., an entity&#146;s own data) and should be used to measure fair
value to the extent that observable inputs are not available.</FONT></P>
<P ALIGN="LEFT" STYLE="margin-left: 15pt"><FONT face="Times New Roman" size=2>Following is a description of
the valuation methodologies used for assets measured at fair value on a
recurring basis. There have been no changes in the methodologies used at January
31, 2016 and July 31, 2015.</FONT></P>
<P ALIGN="LEFT" STYLE="margin-left: 15pt"><FONT face="Times New Roman" size=2>Equity securities are valued
at the closing price reported on the active market on which the individual
securities are traded that the Company has access to.</FONT></P>
<P ALIGN="LEFT" STYLE="margin-left: 15pt"><FONT face="Times New Roman" size=2>Mutual funds are valued at the
daily closing price as reported by the fund. Mutual funds held by the Company
are open-end mutual funds that are registered with the Securities and Exchange
Commission. These funds are required to publish their daily net asset value
(&#147;NAV&#148;) and to transact at that price. The mutual funds held by the Company are
deemed to be actively traded.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>In accordance with the
provisions of Fair Value Measurements, the following are the Company's financial
assets measured on a recurring basis presented at fair value.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="32%" colSpan=23>
      <P align=center><B><U><FONT face="Times New Roman" size=1>Fair value measurements at reporting date
      using</FONT></U></B></P></TD></TR>
    <TR>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="23" STYLE="text-align: center">&nbsp;</TD></TR>
<TR vAlign=bottom>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%" colSpan=2><FONT face="Times New Roman" size=1>Total</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%" colSpan=2><FONT face="Times New Roman" size=1>Total</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%" colSpan=2><FONT face="Times New Roman" size=1>January 31,</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%" colSpan=2><FONT face="Times New Roman" size=1>July
      31,</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="66%"><B><FONT face="Times New Roman" size=1>Description</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=2><FONT face="Times New Roman" size=1>2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face="Times New Roman" size=1>Level 1</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=2><FONT face="Times New Roman" size=1>Level 2</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=2><FONT face="Times New Roman" size=1>Level 3</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=2><FONT face="Times New Roman" size=1>2015</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face="Times New Roman" size=1>Level 1</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=2><FONT face="Times New Roman" size=1>Level 2</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Level 3</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="66%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Assets:</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=1>Marketable securities -</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;available-for-sale</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=1 face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face="Times New Roman" size=1>1,168,462</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>1,168,462</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face="Times New Roman" size=1>&#150;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face="Times New Roman" size=1>&#150;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=center width="2%"><FONT face="Times New Roman" size=1>1,461,504</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="3%"><FONT face="Times New Roman" size=1>1,461,504</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face="Times New Roman" size=1>&#150;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=1 face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>&#150;</FONT></TD></TR></TABLE><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Fair Value of Investments
in Entities that Use NAV</FONT></B><FONT face="Times New Roman" size=1></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The following table summarizes
investments measured at fair value based on NAV per share as of January 31, 2016
and July 31, 2015, respectively.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="79%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"><FONT face="Times New Roman" size=2>Unfunded</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%"><FONT face="Times New Roman" size=2>Redemption Frequency</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"><FONT face="Times New Roman" size=2>Redemption</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="79%"><FONT face="Times New Roman" size=2>January 31, 2016</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><FONT face="Times New Roman" size=2>Fair
    Value</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>Commitments</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=2>(if currently
    eligible)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>Notice Period</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>First Eagle Global CL I</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>258,304</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>n/a</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="5%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Daily</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>None</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%"><FONT face="Times New Roman" size=2>Parnasus Core Equity Investor CL</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>287,101</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"><FONT face="Times New Roman" size=2>n/a</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%"><FONT face="Times New Roman" size=2>Daily</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"><FONT face="Times New Roman" size=2>None</FONT></TD></TR>
  <TR>
    <TD width="101%" colSpan=10>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"><FONT face="Times New Roman" size=2>Unfunded</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%"><FONT face="Times New Roman" size=2>Redemption Frequency</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"><FONT face="Times New Roman" size=2>Redemption</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="79%"><FONT face="Times New Roman" size=2>July 31, 2015</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><FONT face="Times New Roman" size=2>Fair
    Value</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>Commitments</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=2>(if currently
    eligible)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>Notice Period</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>First Eagle Global CL I</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>271,462</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>n/a</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="5%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Daily</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>None</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%"><FONT face="Times New Roman" size=2>Parnasus Core Equity Investor CL</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>305,626</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"><FONT face="Times New Roman" size=2>n/a</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%"><FONT face="Times New Roman" size=2>Daily</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"><FONT face="Times New Roman" size=2>None</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="79%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Columbia Flexible Income CL A</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>271,076</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>n/a</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="5%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Daily</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>None</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-9-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>As of January 31, 2016 and
July 31, 2015, the Company's marketable securities were classified as
follows:</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" colSpan=11><FONT face="Times New Roman" size=1>January 31, 2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" colSpan=11><FONT face="Times New Roman" size=1>July 31, 2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Gross</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Gross</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Gross</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Gross</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Unrealized</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Unrealized</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Fair</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Unrealized</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Unrealized</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=1>Fair</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Cost</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Gains</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Losses</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Value</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Cost</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Gains</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Losses</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=1>Value</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>Noncurrent:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=1>Available-for-sale:</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual
    funds</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>474,669</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>70,736</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>&#150;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>545,405</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>719,245</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>131,639</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>2,720</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>848,164</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity
      securities</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=1>478,214</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>144,843</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>&#150;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>623,057</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>445,227</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>168,113</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>&#150;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=1>613,340</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>952,883</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>215,579</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>&#150;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=center width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>1,168,462</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>1,164,472</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>299,752</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>2,720</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=1>1,461,504</FONT></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>The Company's debt and equity
securities, gross unrealized losses and fair value, aggregated by investment
category and length of time that the investment securities have been in a
continuous unrealized loss position at January 31, 2016 are as
follows:</FONT></P>
<DIV ALIGN=CENTER>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="60%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="77%" colSpan=2></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%" colSpan=6><FONT face="Times New Roman" size=2>January 31, 2016</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="8%" colSpan=6><FONT face="Times New Roman" size=2>July 31, 2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="77%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" colSpan=2><FONT face="Times New Roman" size=2>Less
      Than</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" colSpan=2><FONT face="Times New Roman" size=2>Less
      Than</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="76%"><FONT size=2>Mutual
      funds</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=3><FONT face="Times New Roman" size=2>Fair Value</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face="Times New Roman" size=2>12 Months</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=3><FONT face="Times New Roman" size=2>Fair Value</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=2><FONT face="Times New Roman" size=2>12 Months</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="76%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT style="BACKGROUND-COLOR: #ffffff" size=2></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="5%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&#150;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;271,076</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,720</FONT></TD></TR></TABLE></div><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="60%" border=0>

  <TR>
    <TD noWrap align=left width="106%" colSpan=15>
      <P align=left><FONT face="Times New Roman" size=1><FONT face="Times New Roman" size=2>Investment income consists of the
      following:</FONT></FONT></P></TD></TR>
  <TR>
    <TD noWrap align=left width="88%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="10%" colSpan=6></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%" colSpan=6></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="10%" colSpan=6><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Three Months Ended</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%" colSpan=6><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Six Months Ended</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" colSpan=6><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>January 31</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" colSpan=6><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>January
  31</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=3><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>2016</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>2015</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" colSpan=3><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>2016</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>2015</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Gain (loss) on sale of marketable securities</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(38,538</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>&#150;</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>&nbsp;(38,538</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>)</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>386</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Interest income</FONT></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="5%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>756</FONT></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>662</FONT></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>1,665</FONT></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>1,287</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Dividend income</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="5%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>37,702</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>25,691</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>44,015</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>30,871</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></FONT></TD>
    <TD noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="5%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(80</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>26,353</FONT></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>7,142</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>32,544</FONT></FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-10-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><B><FONT face="Times New Roman" size=2>4.</FONT></B></TD>
    <TD vAlign=top noWrap><STRONG><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></STRONG></TD>
    <TD width="100%"><B><FONT face="Times New Roman" size=2>Financial Instruments and Credit Risk
      Concentrations:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>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. </font></P>
      <P align=left><FONT face="Times New Roman" size=2>The Company derives
      rental income from forty-nine tenants, of which one tenant accounted for
      18.73% and another tenant accounted for 15.50% of rental income during the
      six months ended January 31, 2016. No other tenant accounted for more than
      10% of rental income during the same period. </font></P>
      <P align=left><FONT face="Times New Roman" size=2>The Company has one
      irrevocable Letter of Credit totaling $230,000 at January 31, 2016 and
      July 31, 2015 provided by a tenant as a security deposit.
      </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap colSpan=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><STRONG><FONT size=2 face="Times New Roman">5.</FONT></STRONG></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><B><FONT face="Times New Roman" size=2>Long-Term Debt &#150;
      Mortgage:</FONT></B></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="82%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=5><FONT face="Times New Roman" size=2>January 31, 2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=5><FONT face="Times New Roman" size=2>July 31, 2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>Current</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>Annual</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>Final</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>Due</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>Due</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>Due</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>Due</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>Interest</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>Payment</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>Within</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>After</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>Within</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>After</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%"></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=2>Rate</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=2>Date</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>One
    Year</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>One
    Year</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>One
    Year</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>One
    Year</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Bond
      St. building, Brooklyn, NY</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; background-color: #c0c0c0"><FONT face="Times New Roman" size=2>3.54%</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%; background-color: #c0c0c0">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%; background-color: #c0c0c0; text-align: right"><FONT face="Times New Roman" size=2>2/01/20</FONT></TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; background-color: #c0c0c0">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; background-color: #c0c0c0; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; background-color: #c0c0c0; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>153,511</FONT></TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; background-color: #c0c0c0">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; background-color: #c0c0c0; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; background-color: #c0c0c0; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>5,709,650</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; background-color: #c0c0c0; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; background-color: #c0c0c0; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>150,763</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; background-color: #c0c0c0; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; background-color: #c0c0c0; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>5,786,525</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" bgColor=#ffffff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff></TD></TR>
  <TR style="LINE-HEIGHT: normal">
    <TD noWrap align=left width="1%"></TD>
    <TD align=left width="98%" bgColor=#ffffff colSpan=17>
      <P align=left><FONT face="Times New Roman" size=2>The Company, on August
      19, 2004, closed a loan with a bank for a $12,000,000 multiple draw term
      loan. The loan consisted of: a) a permanent, first mortgage loan to
      refinance an existing first mortgage loan affecting the Fishkill, New York
      property, which matured on July 1, 2004 (the &#147;First Permanent Loan&#148;), b) a
      permanent subordinate mortgage loan in the amount of $1,870,000 (the
      &#147;Second Permanent Loan&#148;), and c) multiple, successively subordinate loans
      in the amount of $8,295,274 (&#147;Subordinate Building Loans&#148;). The Company,
      in February 2008, converted the loan totaling $12,000,000 to a seven (7)
      year permanent mortgage loan. The interest rate on conversion was 6.98%.
      On January 9, 2015, the Company refinanced the loan for $6,000,000, which
      included the outstanding balance as of January 2015 in the amount of
      $5,347,726 and an additional borrowing of $652,274. The loan is for a
      period of five years with a payment based on a twenty-five year
      amortization period. The interest rate for this period is fixed at 3.54%
      per annum. The mortgage loan is secured by the Bond Street building in
      Brooklyn, New York. </FONT></P></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-11-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><B><FONT face="Times New Roman" size=2>6.</FONT></B></TD>
    <TD width="100%"><B><FONT face="Times New Roman" size=2>Property and Equipment &#150; at
    cost:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>January 31</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>July
      31</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Property:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buildings
      and improvements</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>76,854,272</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>76,289,486</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Improvements
      to leased property</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,478,012</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,478,012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Land</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>6,067,805</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>6,067,805</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction
      in progress</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,331,099</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>639,042</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>85,731,188</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>84,474,345</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less
      accumulated depreciation</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>37,208,925</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>36,413,975</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap align=left width="94%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property
      - net</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>48,522,263</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>48,060,370</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%" colSpan=6>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Fixtures and equipment and other:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixtures
      and equipment</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>144,544</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>144,544</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
      fixed assets</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>235,623</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>235,623</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>380,167</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>380,167</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less
      accumulated depreciation</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>268,345</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>249,145</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixtures
      and equipment and other - net</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>111,822</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>131,022</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%" colSpan=6>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property
      and equipment - net</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>48,634,085</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>48,191,392</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%" bgColor=#c0c0c0 colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction
      in progress includes:</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>January 31</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>July
      31</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>2016</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Building improvements at 9 Bond Street in
      Brooklyn, NY</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>188,387</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>144,041</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"><FONT face="Times New Roman" size=2>Building improvements at 25 Elm Place in
      Brooklyn, NY</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>1,054,132</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>495,001</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Building improvements at Jamaica, NY</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>88,580</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&#150;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="94%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>1,331,099</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"><FONT face="Times New Roman" size=2>639,042</FONT></TD></TR></TABLE><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><B><FONT face="Times New Roman" size=2>7.</FONT></B></TD>
    <TD width="100%"><B><FONT face="Times New Roman" size=2>Note Payable - Related
  Party:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>On December 15, 2004,
      the Company borrowed $1,000,000 on an unsecured basis from a former
      director of the Company, who at the time was also a greater than 10%
      beneficial owner of the outstanding common stock of the Company. The
      former director passed away in November 2012 and the note is currently an
      asset of the estate of the former director. Interest payments pursuant to
      the note have been assigned to a trust provided for by the will of the
      deceased former director. The loan has been repeatedly renewed to its
      current maturity date of December 15, 2016 at an interest rate of 5% per
      annum. The note is prepayable in whole or in part at any time without
      penalty. The constant quarterly payment of interest is $12,500. The
      interest paid was $25,000 for the six months ended January 31, 2016 and
      2015, respectively. </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><STRONG><FONT size=2 face="Times New Roman">8.</FONT></STRONG></TD>
    <TD width="100%">
      <P align=left><B><FONT face="Times New Roman" size=2>Unbilled Receivables
      and Rental Income:</FONT></B></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>Unbilled receivables
      represent the excess of scheduled rental income recognized on a
      straight-line basis over rental income as it becomes receivable according
      to the provisions of each lease. </FONT></P></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>-12-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><B><FONT face="Times New Roman" size=2>9.</FONT></B></TD>
    <TD width="100%"><B><FONT face="Times New Roman" size=2>Employees' Retirement Plan:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>The Company sponsors a
      noncontributory Money Purchase Plan covering substantially all of its
      non-union employees. Operations were charged $98,296 and $195,718 for the
      three and six months ended January 31, 2016, respectively, and $115,675
      and $210,495 as contributions to the Plan for the three and six months
      ended January 31, 2015, respectively. </font></P>
      <P align=left><B><FONT face="Times New Roman" size=2>Multi-employer plan:
      </FONT></B></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>The Company contributes
      to a union sponsored multi-employer pension plan covering its union
      employees. The Company contributions to the pension plan were $16,440 and
      $29,593 for the three and six months ended January 31, 2016, respectively,
      and $13,571 and $23,908 for the three and six months ended January 31,
      2015, respectively. Contributions and costs are determined in accordance
      with the provisions of negotiated labor contracts or terms of the plans.
      The Company also contributes to union sponsored health benefit plans. </font></P>
      <P align=left><B><FONT face="Times New Roman" size=2>Contingent Liability
      for Pension Plan: </FONT></B></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>Information as to the
      Company&#146;s portion of accumulated plan benefits and plan assets is not
      reported separately by the pension plan. Under the Employee Retirement
      Income Security Act, upon withdrawal from a multi-employer benefit plan,
      an employer is required to continue to pay its proportionate share of the
      plan&#146;s unfunded vested benefits, if any. Any liability under this
      provision cannot be determined: however, the Company has not made a
      decision to withdraw from the plan. </font></P>
      <P align=left><FONT face="Times New Roman" size=2>Information for
      contributing employer&#146;s participation in the multi-employer plan:
      </FONT></P></TD></TR></TABLE><BR>
<TABLE style="PADDING-BOTTOM: 5pt; LINE-HEIGHT: normal; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Legal name of Plan:</FONT></TD>
    <TD vAlign=top noWrap align=left width="49%"><FONT face="Times New Roman" size=2>United Food and Commercial<BR>Workers Local 888
      Pension Fund</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Employer identification number:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>13-6367793</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Plan
      number:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>001</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Date
      of most recent Form 5500:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>December 31, 2014</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Certified zone status:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Critical Status</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Status determination date:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>January 1, 2014</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Plan
      used extended amortization provisions in status<BR>calculation:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Yes</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Minimum required contribution:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>None</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Employer contributing greater than 5% of
      Plan<BR>contributions for year ended December 31, 2014:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT size=2 face="Times New Roman">Yes</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Rehabilitation plan implemented:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Yes</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Employer subject to surcharge:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Yes</FONT></TD></TR>
  <TR style="PADDING-BOTTOM: 0pt">
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT size=2 face="Times New Roman">Contract expiration date:</FONT></TD>
    <TD noWrap align=left width="49%"><FONT size=2 face="Times New Roman">November 30, 2016</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-13-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><B><FONT face="Times New Roman" size=2>10.</FONT></B></TD>
    <TD width="100%"><B><FONT face="Times New Roman" size=2>Cash Flow Information:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>For purposes of
      reporting cash flows, the Company considers cash equivalents to consist of
      short-term highly liquid investments with maturities of three (3) months
      or less, which are readily convertible into cash.
</FONT></P></TD></TR></TABLE><BR>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="80%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="93%"><FONT face="Times New Roman" size=2>Supplemental disclosure:</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%" colSpan=5><FONT face="Times New Roman" size=2>Six Months Ended</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="93%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=5><FONT face="Times New Roman" size=2>January 31</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="93%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>2016</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="93%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Interest paid, net of capitalized interest
      of $18,127 (2016)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="93%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and $5,359
    (2015)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>123,677</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>233,622</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="93%"><FONT face="Times New Roman" size=2>Income taxes paid</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>23,654</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>323,926</FONT></TD></TR></TABLE></DIV>
<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><B><FONT face="Times New Roman" size=2>11.</FONT></B></TD>
    <TD width="100%"><B><FONT face="Times New Roman" size=2>Common Stock:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>The Company has one
      class of common stock with identical voting rights and rights to
      liquidation. </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><STRONG><FONT size=2 face="Times New Roman">12. </FONT></STRONG></TD>
    <TD width="100%">
      <P align=left><B><FONT face="Times New Roman" size=2>Accumulated Other
      Comprehensive Income: </FONT></B></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>The only component of
      accumulated other comprehensive income is unrealized gains (loss) on
      available-for-sale securities. </font></P>
      <P align=left><FONT face="Times New Roman" size=2>A summary of the changes in accumulated other comprehensive
      income for the three and six months ended January 31, 2016 and 2015 is as
      follows: </font></P></TD></TR></TABLE><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap style="text-align: center" width="11%" colSpan=7><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Three Months
Ended</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="11%" colSpan=7><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Six Months Ended</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" colSpan=7><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>January 31</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" colSpan=7><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>January
  31</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap style="text-align: center" width="4%" colSpan=2><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>2016</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap style="text-align: center" width="5%" colSpan=3><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>2015</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap style="text-align: center" width="5%" colSpan=3><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>2016</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap style="text-align: center" width="5%" colSpan=3><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>2015</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(Unaudited)</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=center width="5%" colSpan=3><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(Unaudited)</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=center width="5%" colSpan=3><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(Unaudited)</FONT></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=center width="5%" colSpan=3><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(Unaudited)</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Beginning balance, net of tax
      effect</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>176,629</FONT></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>171,574</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>196,033</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>129,412</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%" bgColor=#c0c0c0 colSpan=16><FONT size=2 face="Times New Roman">&nbsp;
  </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Other comprehensive income, net of tax
      effect:</FONT></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized
      gains (loss) on available-for-sale</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;securities</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(51,050</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(22,823</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>)</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(81,454</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>)</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>52,339</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax
      effect</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT size=2 face="Times New Roman">17,000</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>10,000</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>28,000</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(23,000</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>)</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized
      gains (loss) on available-for-sale</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;securities,
      net of tax effect</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">(34,050</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(12,823</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>)</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>(53,454</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>)</FONT></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>29,339</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%" bgColor=#c0c0c0 colSpan=16><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="76%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>Ending balance, net of tax
    effect</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman">$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>142,579</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman">$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>158,751</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>142,579</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>$</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT size=2 face="Times New Roman"><FONT face="Times New Roman" size=2>158,751</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-14-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><B><FONT face="Times New Roman" size=2>13.</FONT></B></TD>
    <TD width="100%"><B><FONT face="Times New Roman" size=2>Entry into a Material Definitive
      Agreement:</FONT></B></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>On June 16, 2014, the
      Company entered into a Second Amendment of Lease (the "Amendment") with 33
      Bond St. LLC ("Bond"), its landlord, for certain truck bays and
      approximately 1,000 square feet located at the cellar level within a
      garage at Livingston and Bond Street ("Premises"). Pursuant to the
      Amendment, (1) a lease option for the Premises was exercised extending the
      lease until December 8, 2043, (2) the Company, simultaneously with the
      execution of the Amendment, vacated the Premises so that Bond may demolish
      the building in which the Premises is located in order to develop and
      construct a new building at the location, and (3) Bond agreed to redeliver
      to the Company possession of the reconfigured Premises after construction.
      </font></P>
      <P align=left><FONT face="Times New Roman" size=2>As consideration under
      the Amendment, Bond agreed to pay the Company a total of $3,500,000. Upon
      execution of the Amendment, the Company recorded $3,500,000 to deferred
      revenue to be amortized to revenue to temporarily vacate the premises over
      the expected vacate period of 36 months. Bond tendered $2,250,000
      simultaneously with the execution of the Amendment, and the balance due of
      $1,250,000 on June 16, 2015 has been received by the Company. </font></P>
      <P align=left><FONT face="Times New Roman" size=2>In connection with the
      Amendment, the parties also agreed to settle a pending lawsuit in the
      Supreme Court of the State of New York, Kings County, Index No. 50796/13
      (the "Action"), in which the Company sought, among other things, a
      declaratory judgment that it validly renewed the lease for the Premises,
      and Bond sought, among other things, a declaratory judgment that the lease
      expired by its terms on December 8, 2013. Pursuant to a stipulation of
      settlement, filed on June 16, 2014, the Action, including all claims and
      counterclaims, has been discontinued with prejudice, without costs or
      attorneys' fees to any party as against the other. The stipulation of
      settlement also contains general releases by both parties of all
      claims.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><STRONG><FONT size=2 face="Times New Roman">14.</FONT></STRONG></TD>
    <TD width="100%">
      <P align=left><B><FONT face="Times New Roman" size=2>Contingencies:
      </FONT></B></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=left><FONT face="Times New Roman" size=2>There are various
      lawsuits and claims pending against the Company. It is the opinion of
      management that the resolution of these matters will not have a material
      adverse effect on the Company's Condensed Consolidated Financial
      Statements. </font></P>
      <P align=left><FONT face="Times New Roman" size=2>If the Company sells,
      transfers, disposes of, or demolishes 25 Elm Place, Brooklyn, New York,
      then the Company may be liable to create a condominium unit for the
      loading dock. The necessity of creating the condominium unit and the cost
      of such condominium unit cannot be determined at this time. </font></P>
      <P align=left><FONT face="Times New Roman" size=2>Because of defective
      workmanship and breach of contract, the Company commenced litigation
      against a contractor to pay damages and return in full $376,467 of a
      deposit paid when work commenced to replace a roof on the Fishkill, New
      York building. As of January 31, 2016, this deposit is included in other
      assets on the Condensed Consolidated Balance Sheet in security deposits.
      Based on limited information available at this time, the Company cannot
      predict the outcome of this matter and expects to vigorously pursue this
      contractor until the deposit is returned and damages are paid.
      </FONT></P></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-15-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Item 2. </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>J. W. MAYS, INC.
<BR></FONT></B><B><FONT face="Times New Roman" size=2>MANAGEMENT'S DISCUSSION
AND ANALYSIS OF RESULTS OF OPERATIONS<BR>AND FINANCIAL CONDITION </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Management&#146;s Discussion and
Analysis of Financial Condition and Results of Operations should be read in
conjunction with our financial statements and related notes thereto contained in
this report. In this discussion, the words &#147;Company&#148;, &#147;we&#148;, &#147;our&#148; and &#147;us&#148; refer
to J.W. Mays, Inc. and subsidiaries. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Forward Looking Statements:
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The following can be
interpreted as including forward looking statements under the Private Securities
Litigation Reform Act of 1995. The words &#147;outlook&#148;, &#147;intend&#148;, &#147;plans&#148;,
&#147;efforts&#148;, &#147;anticipates&#148;, &#147;believes&#148;, &#147;expects&#148; or words of similar import
typically identify such statements. Various important factors that could cause
actual results to differ materially from those expressed in the forward-looking
statements are identified under the heading &#147;Cautionary Statement Regarding
Forward-Looking Statements&#148; below. Our actual results may vary significantly
from the results contemplated by these forward-looking statements based on a
number of factors including, but not limited to, availability of labor,
marketing success, competitive conditions and the change in economic conditions
of the various markets we serve. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Critical Accounting
Policies and Estimates: </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The preparation of financial
statements in conformity with accounting principles generally accepted in the
United States of America requires us to make estimates and judgments that affect
the reported amounts of assets, liabilities, revenues, expenses and related
disclosure of contingent assets and liabilities. We believe the critical
accounting policies in Note 1 to the Condensed Consolidated Financial Statements
disclose our more significant judgments and estimates used in the preparation of
our financial statements. Actual results may differ from these estimates under
different assumptions and conditions. (See Note 1 on page 7 and 8 to the
Condensed Consolidated Financial Statements herein and Note 1 on pages 9 through
11 to the Consolidated Financial Statements in the Annual Report to Shareholders
for the fiscal year ended July 31, 2015). </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Results of Operations:
</FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2>Three months ended January
31, 2016 compared to the three months ended January 31, 2015: </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>In the three months ended
January 31, 2016, the Company reported net income of $222,726, or $.11 per
share. In the comparable three months ended January 31, 2015, the Company
reported net income of $328,913, or $.16 per share. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Revenues in the current three
months decreased to $4,607,607 from $4,703,900 in the comparable 2015 three
months primarily due to non-payment of rent from a retail tenant, who vacated
the building in December 2015, at the Nine Bond Street building in Brooklyn, New
York. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Real estate operating expenses
in the current three months increased to $2,571,056 from $2,470,736 in the
comparable 2015 three months primarily due to increases in real estate taxes,
maintenance costs and payroll costs partially offset by decreases in licenses
and permits. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Administrative and general
expenses in the current three months increased to $1,264,471 from $1,139,437 in
the comparable 2015 three months primarily due to New York State and New York
City capital based franchise taxes of $64,053 which were included in 2016 and
there were none in 2015. Also legal and professional costs increased in 2016.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Depreciation and amortization
expense in the current three months decreased to $407,400 from $443,822 in the
comparable 2015 three months primarily due to expiring depreciation on the
Fishkill, New York building. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-16-</FONT></P>

<HR align=center width="100%" noshade SIZE=2>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<!-- C -->
<P align=left><FONT face="Times New Roman" size=2>Interest expense exceeded
investment income in the current three months by $58,954 and by $65,992 in the
comparable 2015 three months. The decrease was due to a lower interest expense
due to a lower interest rate on the refinanced mortgage with a bank in the 2015
year, partially offset by a loss on the sale of securities in the 2016 year.
</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Six months ended January
31, 2016 compared to the six months ended January 31, 2015: </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>In the six months ended
January 31, 2016, the Company reported net income of $624,101, or $.31 per
share. In the comparable six months ended January 31, 2015, the Company reported
net income of $767,585, or $.38 per share. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Revenues in the current six
months decreased to $9,176,668 from $9,346,549 in the comparable 2015 six months
primarily due to non-payment of rent from a retail tenant, who vacated the
building in December 2015, at the Nine Bond Street building in Brooklyn, New
York. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Real estate operating expenses
in the current six months increased to $4,979,655 from $4,794,934 in the
comparable 2015 six months primarily due to increases in real estate taxes,
maintenance costs and utility costs partially offset by decreases in licenses
and permits. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Administrative and general
expenses in the current six months increased to $2,320,453 from $2,122,730 in
the comparable 2015 six months primarily due to New York State and New York City
capital based franchise taxes of $121,053 which were included in 2016 and there
were none in 2015. Also legal and professional costs increased in 2016.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Depreciation and amortization
expense in the current six months decreased to $814,150 from $884,807 in the
comparable 2015 six months primarily due to expiring depreciation on the
Fishkill, New York building. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Interest expense exceeded
investment income in the current six months by $116,309 and by $168,493 in the
comparable 2015 six months. The decrease was due to a lower interest expense due
to a lower interest rate on the refinanced mortgage with a bank in the 2015
year, partially offset by a loss on the sale of securities in the 2016 year.
</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Liquidity and Capital
Resources:</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Management considers current
working capital and borrowing capabilities adequate to cover the Company&#146;s
planned operating and capital requirements. The Company&#146;s cash and cash
equivalents amounted to $4,534,381 at January 31, 2016. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>In November 2014, the Company
entered into a lease agreement with an existing tenant to occupy an additional
5,640 square feet of office space at the Jowein building in Brooklyn, New York.
Rent commenced in February 2016. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>In May 2015, the Company
entered into a 20 year lease agreement with a new tenant (cancellation clause
after the 10th year) to occupy 17,425 square feet of office space at the Jowein
building in Brooklyn, New York. Rent is anticipated to commence in the summer of
2016. The amount of brokerage commissions and construction costs will be
approximately $500,000 and $2,000,000, respectively. The construction is
presently expected to be completed in the spring of 2016.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>A tenant who occupies 2,000
square feet of office space at its Jamaica, New York building, terminated its
lease as of December 31, 2015. The loss in rental income will be $42,000 per
annum. The Company is actively seeking through brokers, tenants to occupy the
vacated space. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Company was in litigation
with a retail tenant who occupied 7,401 square feet at its Nine Bond Street
Brooklyn, New York building for non-payment of rent since June 2015. The tenant
vacated the premises in December 2015. The Company has only accrued rent in the
amount of the security deposit held, which is two months&#146; rent. The annual loss
in rent will be approximately $37,500 per month, until this tenant is replaced.
The Company is actively seeking through brokers, tenants to occupy the vacated
space. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Cash Flows From Operating
Activities: </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Deferred Charges: The Company
incurred expenditures in the amount of $42,070 for brokerage commissions for an
existing office tenant at the Company&#146;s Nine Bond Street building in Brooklyn,
New York whom renewed their lease for an additional five years. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-17-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>Payroll and Other Accrued
Liabilities: The Company had a balance due at January 31, 2016 for brokerage
commissions of $495,853 of which $132,556 was paid in the six months ended
January 31, 2016. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Cash Flows From Investing
Activities: </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The Company had expenditures
of $88,580 for the six months ended January 31, 2016 at its Jamaica, New York
building for renovations for an existing tenant. The cost of the project will be
$105,859 and was completed in February 2016. The Company also had expenditures
of $31,040 for elevator upgrades which were completed in January 2016.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Company had expenditures
of $559,132 for the six months ended January 31, 2016, for a new office tenant
at its Jowein building, in Brooklyn, New York. The cost of the project will be
approximately $2,000,000 of which $1,054,132 has been paid. The project is
anticipated to be completed in the spring of 2016. The Company also had an
expenditure of $135,000 for a new roof. The total cost of the project was
$135,000 and was completed in September 2015. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Company had expenditures
of $274,645 for the six months ended January 31, 2016 for construction costs at
its Fishkill, New York building. The projects were completed in January 2016.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Company had expenditures
of $124,100 in the six months ended January 31, 2016 for new roofs at the
Company's Nine Bond Street, Brooklyn, New York building. The cost of the project
was $124,100 and was completed in September 2015. The Company also had
expenditures of $44,346 for a new boiler. The total cost of the project will be
approximately $240,000 of which $188,387 has been paid. The project was
completed in February 2016. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Cautionary Statement
Regarding Forward-Looking Statements: </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>This section, Management&#146;s
Discussion and Analysis of Financial Condition and Results of Operations, other
sections of this Report on Form 10-Q and other reports and verbal statements
made by our representatives from time to time may contain forward-looking
statements that are based on our assumptions, expectations and projections about
us and the real estate industry. These include statements regarding our
expectations about revenues, our liquidity, our expenses and our continued
growth, among others. Such forward-looking statements by their nature involve a
degree of risk and uncertainty. We caution that a variety of factors, including
but not limited to the factors listed below, could cause business conditions and
our results to differ materially from what is contained in forward-looking
statements: </FONT></P>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>changes in the rate of economic growth in the
United States; </FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>the ability to obtain credit from financial
institutions and the related costs; </FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>changes in the financial condition of our
customers;</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>changes in regulatory environment;</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>lease cancellations;</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>changes in our estimates of costs;</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>war and/or terrorist attacks on facilities where
services are or may be provided;</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>outcomes of pending and future
litigation;</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>increasing competition by other
companies;</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>compliance with our loan covenants;</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>recoverability of claims against our customers and
others by us and claims by third parties against us; and</FONT></DIV>
<DIV style="PADDING-LEFT: 15pt; FONT-SIZE: 10pt; TEXT-INDENT: -14.5pt; TEXT-ALIGN: justify"><FONT style="PADDING-RIGHT: 8pt; FONT-SIZE: 9.5pt">&#9679;</FONT><FONT face="Times New Roman" size=2>changes in estimates used in our critical
accounting policies.</FONT></DIV>
<P align=left><FONT face="Times New Roman" size=2>Other factors and assumptions
not identified above were also involved in the formation of these
forward-looking statements and the failure of such other assumptions to be
realized, as well as other factors, may also cause actual results to differ
materially from those projected. Most of these factors are difficult to predict
accurately and are generally beyond our control. You should consider the areas
of risk described above in connection with any forward-looking statements that
may be made by us. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We undertake no obligation to
publicly update any forward-looking statements, whether as a result of new
information, future events or otherwise. You are advised, however, to review any
additional disclosures we make in proxy
statements, quarterly reports on Form 10-Q, annual reports on Form 10-K and any
Form 8-K reports filed with the United States Securities and Exchange
Commission. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-18-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Item 3. Quantitative and
Qualitative Disclosures About Market Risk: </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The Company uses fixed-rate
debt to finance its capital requirements. These transactions do not expose the
Company to market risk related to changes in interest rates. The Company does
not use derivative financial instruments. At January 31, 2016, the Company had
fixed-rate debt of $6,863,161. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Item 4. Controls and
Procedures: </FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2>Evaluation of Disclosure
Controls and Procedures </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Our management, with the
participation of our Chief Executive Officer and Chief Financial Officer, has
evaluated the design and operation of our disclosure controls and procedures (as
defined in Rules 13a-15(e) of the Securities Exchange Act of 1934 (the &#147;Exchange
Act&#148;)) as of the end of the period covered by this report. Based on that
evaluation, the Chief Executive Officer and Chief Financial Officer concluded,
as of the end of the period covered by this quarterly report, our disclosure
controls and procedures were effective and provide reasonable assurance that the
information required to be disclosed in the reports we file or submit under the
Exchange Act is recorded, processed, summarized and reported accurately and
within the time periods specified in the SEC&#146;s rules and forms, and is
accumulated and communicated to our management, including our Chief Executive
Officer and Chief Financial Officer, to allow timely decisions regarding
required disclosures. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Changes in Internal Control
Over Financial Reporting </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>There have been no changes in
our internal control over financial reporting during the period covered by this
report that have materially affected, or are likely to materially affect, our
internal control over financial reporting. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-19-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Part II - Other
Information</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>Item 1. Legal
Proceedings</FONT></B></P>
<P ALIGN="LEFT" STYLE="padding-left: 45pt; margin-top: -14pt"><FONT face="Times New Roman" size=2>From time to time we are
involved in legal actions arising in the ordinary course of business. In our
opinion, the outcome of such matters in the aggregate will not have a material
adverse effect on our financial condition, results of operations or cash
flows.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>Item 1A. Risk
Factors</FONT></B></P>
<P ALIGN="LEFT" STYLE="padding-left: 45pt; margin-top: -14pt"><FONT face="Times New Roman" size=2>There have been no changes to
our risk factors from those disclosed in our Annual Report on Form 10-K for our
fiscal year ended July 31, 2015.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>Item 2. Unregistered Sales
of Equity Securities and Use of Proceeds</FONT></B></P>
<P align=left STYLE="padding-left: 45pt; margin-top: -14pt"><FONT face="Times New Roman" size=2>None</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>Item 3. Defaults Upon
Senior Securities</FONT></B></P>
<P align=left STYLE="padding-left: 45pt; margin-top: -14pt"><FONT face="Times New Roman" size=2>None</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>Item 4. Mine Safety
Disclosures</FONT></B></P>
<P align=left STYLE="padding-left: 45pt; margin-top: -14pt"><FONT face="Times New Roman" size=2>Not applicable</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>Item 5. Other
Information</FONT></B></P>
<P align=left STYLE="padding-left: 45pt; margin-top: -14pt"><FONT face="Times New Roman" size=2>None</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>Item 6. Exhibits and
Reports on Form 8-K</FONT></B></P>
<P align=left STYLE="padding-left: 45pt; margin-top: -14pt"><FONT face="Times New Roman" size=2>(a) List of
Exhibits:</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="92%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=3><FONT face="Times New Roman" size=2>Sequentially</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="2%" colSpan=2><FONT face="Times New Roman" size=2>Exhibit</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="92%"></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=3><FONT face="Times New Roman" size=2>Numbered</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><FONT face="Times New Roman" color=#ffffff size=2><FONT color=#000000>Number</FONT></FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="92%"><FONT face="Times New Roman" size=2>Exhibit</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=3>&nbsp; <FONT face="Times New Roman" size=2>Page</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(3</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="92%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Articles of Incorporation and Bylaws</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="92%"><FONT face="Times New Roman" size=2>Material contracts</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(11</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="92%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Statement re computation of per share
      earnings</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>(12</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="92%"><FONT face="Times New Roman" size=2>Statement re computation of ratios</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(14</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="92%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Code
      of ethics</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>(15</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="92%"><FONT face="Times New Roman" size=2>Letter re unaudited interim financial
      information</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(18</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="92%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Letter re change in accounting
    principles</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>(19</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="92%"><FONT face="Times New Roman" size=2>Report furnished to security holders</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(31</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="92%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Additional exhibits - Certifications Pursuant
      to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="92%"><FONT face="Times New Roman" size=2>(31.1) Chief Executive Officer</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>23</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="92%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(31.2) Chief Financial Officer</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>24</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>(32</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="92%"><FONT face="Times New Roman" size=2>Certification Pursuant to Section 906 of the
      Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>25</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(95</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="92%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Mine
      safety disclosure</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-20-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR STYLE="background-color: Silver">
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>EX-101.INS</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>XBRL
      Instance Document</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>EX-101.SCH</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>XBRL
      Taxonomy Extension Schema</FONT></TD></TR>
  <TR STYLE="background-color: Silver">
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>EX-101.PRE</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>XBRL
      Taxonomy Extension Presentation Linkbase</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>EX-101.LAB</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>XBRL
      Taxonomy Extension Label Linkbase</FONT></TD></TR>
  <TR STYLE="background-color: Silver">
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>EX-101.CAL</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>XBRL
      Taxonomy Extension Calculation Linkbase</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>EX-101.DEF</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>XBRL
      Taxonomy Extension Definition Linkbase</FONT></TD></TR></TABLE><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(b)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;&nbsp; </FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Reports on Form 8-K &#150;
      Two reports on Form 8-K were filed by the registrant during the three
      months ended January 31, 2016.</FONT></TD></TR></TABLE>
<P align=left STYLE="padding-left: 45pt"><FONT face="Times New Roman" size=2>Items reported: </FONT></P>
<P align=left STYLE="padding-left: 45pt; padding-right: 45pt"><FONT face="Times New Roman" size=2>The Company reported results
of the submission of matters to a vote of security holders. Date of report filed
- November 18, 2015. </FONT></P>
<P align=left STYLE="padding-left: 45pt; padding-right: 45pt"><FONT face="Times New Roman" size=2>The Company reported its
financial results for the three months ended October 31, 2015. Date of report
filed - December 3, 2015. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-21-</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><U><FONT face="Times New Roman" size=2>SIGNATURES</FONT></U></B><B><FONT face="Times New Roman" size=2>
</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned thereunto duly authorized.
</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><FONT face="Times New Roman" size=2>J.W. MAYS, Inc.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="16%"><FONT face="Times New Roman" size=2>(Registrant)</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Date:&nbsp;
      </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;
      March 2, 2016&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=left width="67%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="16%"><FONT face="Times New Roman" size=2>Lloyd J. Shulman</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="16%"><FONT face="Times New Roman" size=2>Lloyd J.
      Shulman</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="16%"><FONT face="Times New Roman" size=2>President</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="16%"><FONT face="Times New Roman" size=2>Chief Executive
      Officer</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Date: </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;
      March 2, 2016&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=left width="67%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="16%"><FONT face="Times New Roman" size=2>Mark S.
  Greenblatt</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="16%"><FONT face="Times New Roman" size=2>Mark S.
      Greenblatt</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="16%"><FONT face="Times New Roman" size=2>Vice
      President</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="16%"><FONT face="Times New Roman" size=2>Chief Financial
      Officer</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-22-</FONT></P>
<HR align=center width="100%" noShade size="2">

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>exhibit31-1.htm
<DESCRIPTION>CHIEF EXECUTIVE OFFICER
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<P align=right><B><FONT face="Times New Roman" size=2>EXHIBIT
31.1</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>CERTIFICATION
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>I, Lloyd J. Shulman, certify
that: </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>1. I have reviewed this
Quarterly Report on Form 10-Q of J.W. Mays, Inc.; </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>2. Based on my knowledge, this
report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect
to the period covered by this report;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>3. Based on my knowledge, the
financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the periods
presented in this report;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>4. The registrant's other
certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in
Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(a)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Designed such
      disclosure controls and procedures, or caused such disclosure controls and
      procedures to be designed under our supervision, to ensure that material
      information relating to the registrant, including its consolidated
      subsidiaries, is made known to us by others within those entities,
      particularly during the period in which this report is being
      prepared;</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(b)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Designed such
      internal control over financial reporting, or caused such internal control
      over financial reporting to be designed under my supervision, to provide
      reasonable assurance regarding the reliability of financial reporting and
      the preparation of financial statements for external purposes in
      accordance with accounting principles generally accepted in the United
      States of America;</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(c)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Evaluated the
      effectiveness of the registrant's disclosure controls and procedures and
      presented in this report our conclusions about the effectiveness of the
      disclosure controls and procedures, as of the end of the period covered by
      this report based on such evaluation; and</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(d)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Disclosed in this
      report any change in the registrant's internal control over financial
      reporting that occurred during the registrant's most recent fiscal quarter
      (the registrant's fourth fiscal quarter in the case of an annual report)
      that has materially affected, or is reasonably likely to materially
      affect, the registrant's internal control over financial
    reporting;</FONT></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=2>5. The registrant's other
certifying officer(s) and I have disclosed, based on our most recent evaluation
of internal control over financial reporting, to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons
performing the equivalent functions):</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(a)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>All significant
      deficiencies and material weaknesses in the design or operation of
      internal control over financial reporting which are reasonably likely to
      adversely affect the registrant's ability to record, process, summarize
      and report financial information; and</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(b)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Any fraud, whether or
      not material, that involves management or other employees who have a
      significant role in the registrant's internal control over financial
      reporting.</FONT></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=2>Date:&nbsp;&nbsp;&nbsp; March
2, 2016 </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="64%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="15%"><FONT face="Times New Roman" size=2>/s/ Lloyd J. Shulman</FONT></TD>
    <TD noWrap align=left width="21%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Lloyd J.
      Shulman</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>President</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Chief Executive
      Officer</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>-23-</FONT></P>
<HR align=center width="100%" noShade size="2">
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>exhibit31-2.htm
<DESCRIPTION>CHIEF FINANCIAL OFFICER
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<P align=right><B><FONT face="Times New Roman" size=2>EXHIBIT
31.2</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>CERTIFICATION
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>I, Mark S. Greenblatt, certify
that: </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>1. I have reviewed this
Quarterly Report on Form 10-Q of J.W. Mays, Inc.; </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>2. Based on my knowledge, this
report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect
to the period covered by this report;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>3. Based on my knowledge, the
financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the periods
presented in this report;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>4. The registrant's other
certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in
Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(a)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Designed such
      disclosure controls and procedures, or caused such disclosure controls and
      procedures to be designed under our supervision, to ensure that material
      information relating to the registrant, including its consolidated
      subsidiaries, is made known to us by others within those entities,
      particularly during the period in which this report is being
      prepared;</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(b)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Designed such
      internal control over financial reporting, or caused such internal control
      over financial reporting to be designed under my supervision, to provide
      reasonable assurance regarding the reliability of financial reporting and
      the preparation of financial statements for external purposes in
      accordance with accounting principles generally accepted in the United
      States of America;</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(c)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Evaluated the
      effectiveness of the registrant's disclosure controls and procedures and
      presented in this report our conclusions about the effectiveness of the
      disclosure controls and procedures, as of the end of the period covered by
      this report based on such evaluation; and</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(d)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Disclosed in this
      report any change in the registrant's internal control over financial
      reporting that occurred during the registrant's most recent fiscal quarter
      (the registrant's fourth fiscal quarter in the case of an annual report)
      that has materially affected, or is reasonably likely to materially
      affect, the registrant's internal control over financial
    reporting;</FONT></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=2>5. The registrant's other
certifying officer(s) and I have disclosed, based on our most recent evaluation
of internal control over financial reporting, to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons
performing the equivalent functions):</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(a)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>All significant deficiencies and material
      weaknesses in the design or operation of internal control over financial
      reporting which are reasonably likely to adversely affect the registrant's
      ability to record, process, summarize and report financial information;
      and</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(b)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Any fraud, whether or not material, that
      involves management or other employees who have a significant role in the
      registrant's internal control over financial
  reporting.</FONT></TD></TR></TABLE>
<P align=left><FONT face="Times New Roman" size=2>Date:&nbsp;&nbsp;&nbsp; March
2, 2016 </FONT></P>

<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="64%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="15%"><FONT face="Times New Roman" size=2>/s/ Mark S. Greenblatt</FONT></TD>
    <TD noWrap align=left width="21%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Mark S.
      Greenblatt</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Vice
      President</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Chief Financial
      Officer</FONT></TD></TR></TABLE><BR>

      <P align=center><FONT face="Times New Roman" size=2>-24-</FONT></P>
<HR align=center width="100%" noShade size="2">

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>4
<FILENAME>exhibit32.htm
<DESCRIPTION>CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
<TEXT>
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<P align=right><B><FONT face="Times New Roman" size=2>EXHIBIT 32</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>CERTIFICATION PURSUANT TO
<BR></FONT></B><B><FONT face="Times New Roman" size=2>18 U.S.C. SECTION
1350,<BR>AS ADOPTED PURSUANT TO <BR></FONT></B><B><FONT face="Times New Roman" size=2>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>In connection with the
Quarterly Report of J.W. Mays, Inc. (the "Company") on Form 10-Q for the period
ended January 31, 2016 as filed with the United States Securities and Exchange
Commission (the "Report"), we, Lloyd J. Shulman and Mark S. Greenblatt, Chief
Executive Officer and Chief Financial Officer, respectively, of the Company,
certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906
of the Sarbanes-Oxley Act of 2002, that to our knowledge: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The Report fully
      complies with the requirements of Section 13(a) or 15(d) of the Securities
      Exchange Act of 1934; and</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The information
      contained in the Report fairly presents, in all material respects, the
      financial condition and results of operations of the
  Company.</FONT></TD></TR></TABLE>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>Date:&nbsp;&nbsp;&nbsp; March
2, 2016 </FONT></P>

<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="64%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="15%"><FONT face="Times New Roman" size=2>/s/ Lloyd J. Shulman</FONT></TD>
    <TD noWrap align=left width="21%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Lloyd J.
      Shulman</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Chief Executive
      Officer</FONT></TD></TR></TABLE><BR>
<P align=left>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="64%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="15%"><FONT face="Times New Roman" size=2>/s/ Mark S. Greenblatt</FONT></TD>
    <TD noWrap align=left width="21%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Mark S.
      Greenblatt</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Chief Financial
      Officer</FONT></TD></TR></TABLE></P>
<P align=left><FONT face="Times New Roman" size=2>A signed original of this
written statement required by Section 906 has been provided to J.W. Mays, Inc.
and will be retained by J.W. Mays, Inc. and furnished to the United States
Securities and Exchange Commission or its staff upon request. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>-25-</FONT></P>

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&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;b&gt;&lt;font size="2"&gt;1.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="99%"&gt;&lt;b&gt;&lt;font size="2"&gt;Accounting Records and Use of Estimates:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="99%"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" width="99%"&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;The accounting records are maintained in accordance with accounting principles generally accepted in the United States of America (&amp;#147;GAAP&amp;#148;). The preparation of the Company's financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses during the reporting period. The estimates that we make include allowance for doubtful accounts, depreciation and amortization, income tax assets and liabilities, fair value of marketable securities and revenue recognition. Estimates are based on historical experience where applicable or other assumptions that management believes are reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results may differ from those estimates under different assumptions or conditions.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;The interim financial statements are prepared pursuant to the requirements for reporting on Form 10-Q. The July 31, 2015 condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by GAAP. The interim financial statements and notes thereto should be read in conjunction with the financial statements and notes included in the Company's latest Form 10-K Annual Report for the fiscal year ended July 31, 2015. In the opinion of management, the interim financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for interim periods. The results of operations for the current period are not necessarily indicative of the results for the entire fiscal year ending July 31, 2016.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;The computation of the annual expected effective tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected operating income for the year and future periods, projections of the proportion of income (or loss), and permanent and temporary differences. The accounting estimates used to compute the provision for income taxes may change as new events occur, more experience is acquired, or as additional information is obtained. To the extent that the estimated annual effective tax rate changes during a quarter, the effect of the change on prior quarters is included in tax expense for the current quarter.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;On September 13, 2013, the U.S. Department of the Treasury and the Internal Revenue Service released final income tax regulations on the deduction and capitalization of expenditures related to tangible property (&amp;#147;tangible property regulations&amp;#148;). The tangible property regulations clarify and expand sections 162(a) and 263(a) of the Internal Revenue Code (&amp;#147;IRC&amp;#148;), which relate to amounts paid to acquire, produce, or improve tangible property. Additionally, the tangible property regulations provide final guidance under IRC section 167 regarding accounting for and retirement of depreciable property and regulations under IRC section 168 relating to the accounting for property under the Modified Accelerated Cost Recovery System. The tangible property regulations affect all taxpayers that acquire, produce, or improve tangible property, and generally apply to taxable years beginning on or after January 1, 2014. The Company implemented the tangible property regulations with the filing of the federal tax return for the year ended July 31, 2015.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;For the year ended July 31, 2015, after implementing the tangible property regulations, the Company incurred a federal net operating loss of $&lt;font&gt;8,191,403&lt;/font&gt;. The Company was able to carryback $&lt;font&gt;1,582,003&lt;/font&gt;, generating a federal income tax refund receivable of $&lt;font&gt;537,881&lt;/font&gt;. The remainder of the federal net operating loss approximating $&lt;font&gt;6,609,000&lt;/font&gt; will be available to offset future taxable income. In addition, as of July 31, 2015 the Company had state and city net operating loss carryforwards of approximately $&lt;font&gt;9,000,000&lt;/font&gt; available to offset future state and city taxable income. The net operating loss carryforwards will expire, if not used, in 2035.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;New York State and New York City taxes for years through July 31, 2015 are calculated using the higher of taxes based on income or the respective capital-based franchise taxes. In April 2014, the New York State governor signed into law legislation overhauling the New York State franchise tax on corporations. The changes in the law will be effective for the Company's year ending July 31, 2016. The state capital-based tax will be phased out over a &lt;font&gt;7&lt;/font&gt;-year period. As of July, 2015, the Company anticipates New York State taxes will be based on capital through 2022, and New York City taxes will be based on capital for the foreseeable future. Capital based franchise taxes are recorded to administrative and general expense.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;Due to the application of the capital-based tax while the net operating loss still applies, or due to the possible absence of State taxable income in the years beyond 2022 to which the State loss can be carried, the Company has not recorded the New York State or New York City tax benefit of its net operating loss carryforwards. Also, to reflect its expectation that reversal of temporary differences will not result in New York State or City tax based on income, as of July 31, 2015 the Company decreased the deferred tax asset, deferred tax liability, and deferred taxes on unrealized loss on available-for-sale securities by $&lt;font&gt;380,000&lt;/font&gt;, $&lt;font&gt;771,000&lt;/font&gt; and $&lt;font&gt;26,000&lt;/font&gt;, respectively, resulting in a State and City deferred tax benefit of $&lt;font&gt;365,000&lt;/font&gt;.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;b&gt;&lt;font size="2"&gt;Recent accounting pronouncements:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;In July 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Carryforward Exists.&amp;#148; The Company adopted ASU 2013-11 in the fourth quarter of fiscal year ended July 31, 2015. The adoption of this standard did not have a significant impact on these condensed consolidated financial statements.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;In May 2014, the FASB issued an update (&amp;#147;ASU 2014-09&amp;#148;) establishing ASC Topic 606 Revenue from Contracts with Customers. ASU 2014-09 establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. ASU 2014-09 requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. ASU 2014-09 is effective for interim and annual reporting in fiscal years that begin after December 15, 2016. ASU 2015-14 extended the implementation date for fiscal years beginning after December 31, 2017. The adoption of the update on August 1, 2018 is not expected to have a significant impact on our consolidated financial statements.&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
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&lt;td valign="top" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td width="100%" colspan="2"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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  <us-gaap:OperatingLossCarryforwards id="Tag184" contextRef="I2015-07-31_DomesticCountryMember" unitRef="USD" decimals="0">8191403</us-gaap:OperatingLossCarryforwards>
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  <us-gaap:OperatingLossCarryforwards id="Tag186" contextRef="I2016-01-31_DomesticCountryMember" unitRef="USD" decimals="0">6609000</us-gaap:OperatingLossCarryforwards>
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  <mays:ReductionInDeferredTaxesOnSecuritiesRevisionOfTaxCode id="Tag191" contextRef="D2015-08-01_To_2016-01-31" unitRef="USD" decimals="0">26000</mays:ReductionInDeferredTaxesOnSecuritiesRevisionOfTaxCode>
  <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit id="Tag192" contextRef="D2015-08-01_To_2016-01-31" unitRef="USD" decimals="0">-365000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
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&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Income Per Share of Common Stock:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left;" width="100%"&gt;&lt;/td&gt;
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&lt;tr&gt;
&lt;td nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td width="100%"&gt;
&lt;p style="margin-top: 0pt; margin-bottom: 0pt;" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Income per share has been computed by dividing the net income for the periods by the weighted average number of shares of common stock outstanding during the periods, adjusted for the purchase of treasury stock. Shares used in computing income per share were &lt;font&gt;2,015,780&lt;/font&gt;&amp;#160;for the six months ended January 31, 2016 and January 31, 2015. &lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
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  <us-gaap:InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock id="Tag194" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
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&lt;td valign="top" nowrap="nowrap"&gt;&lt;b&gt;&lt;font size="2"&gt;3.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td width="100%" colspan="2"&gt;&lt;b&gt;&lt;font size="2"&gt;Marketable Securities:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
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&lt;td width="100%" colspan="2" style="text-align: left;"&gt;&lt;font size="2"&gt;The Company categorizes marketable securities as either trading, available-for-sale or held-to-maturity. Trading securities are carried at fair value with unrealized gains and losses included in income. Available-for-sale securities are carried at fair value measurements using quoted prices in active markets for identical assets or liabilities with unrealized gains and losses recorded as a separate component of shareholders' equity. Held-to-maturity securities are carried at amortized cost. Dividends and interest income are accrued as earned. Realized gains and losses are determined on a specific identification basis. The Company reviews marketable securities for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recovered. The Company did not classify any securities as trading or held to maturity during the six months ended January 31, 2016 and July 31, 2015.&lt;/font&gt;&lt;/td&gt;
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&lt;td width="100%" colspan="2" style="text-align: left;"&gt;&lt;font size="2"&gt;The Company follows GAAP which establishes a fair value hierarchy that prioritizes the valuation techniques and creates the following three broad levels, with Level 1 valuation being the highest priority:&lt;/font&gt;&lt;/td&gt;
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&lt;td width="100%" style="text-align: left;"&gt;&lt;font size="2"&gt;Level 1 valuation inputs are quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date (e.g., equity securities traded on the New York Stock Exchange).&lt;/font&gt;&lt;/td&gt;
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&lt;p align="left"&gt;&lt;font size="2"&gt;Level 2 valuation inputs are from other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted market prices of similar assets or liabilities in active markets, or quoted market prices for identical or similar assets or liabilities in markets that are not active).&lt;/font&gt;&lt;/p&gt;
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&lt;p align="left"&gt;&lt;font size="2"&gt;Level 3 valuation inputs are unobservable (e.g., an entity's own data) and should be used to measure fair value to the extent that observable inputs are not available.&lt;/font&gt;&lt;/p&gt;
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&lt;p align="left"&gt;&lt;font size="2"&gt;Following is a description of the valuation methodologies used for assets measured at fair value on a recurring basis. There have been no changes in the methodologies used at January 31, 2016 and July 31, 2015.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;Equity securities are valued at the closing price reported on the active market on which the individual securities are traded that the Company has access to.&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font size="2"&gt;Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Company are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (&amp;#147;NAV&amp;#148;) and to transact at that price. The mutual funds held by the Company are deemed to be actively traded.&lt;/font&gt;&lt;/p&gt;
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&lt;p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;&lt;font size="2"&gt;In accordance with the provisions of Fair Value Measurements, the following are the Company's financial assets measured on a recurring basis presented at fair value.&lt;/font&gt;&lt;/p&gt;
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&lt;td nowrap="nowrap" align="left" width="70%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="29%" colspan="23" style="text-align: center;"&gt;&lt;b&gt;&lt;u&gt;&lt;font size="1"&gt;Fair value measurements at reporting date using&lt;/font&gt;&lt;/u&gt;&lt;/b&gt;&lt;/td&gt;
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&lt;td width="100%" colspan="25"&gt;&amp;#160;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="left" width="70%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Total&lt;/font&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="left" width="70%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;January 31,&lt;/font&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;July 31,&lt;/font&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="center" width="70%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;b&gt;&lt;font size="1"&gt;Description&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 1&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 2&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 3&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 1&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 2&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 3&lt;/font&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="left" width="70%" style="background-color: #c0c0c0;"&gt;&lt;b&gt;&lt;font size="1"&gt;Assets:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="left" width="70%"&gt;&lt;font size="1"&gt;Marketable securities -&lt;/font&gt;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&amp;#160;&lt;/td&gt;
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&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
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&lt;tr valign="bottom" style="background-color: #ffffff;"&gt;
&lt;td nowrap="nowrap" align="left" width="70%" style="background-color: #ffffff;"&gt;&lt;font size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;available-for-sale&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,168,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,168,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,461,504&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,461,504&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;br/&gt;
&lt;p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;&lt;b&gt;&lt;font size="2"&gt;Fair Value of Investments in Entities that Use NAV&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;&lt;font size="2"&gt;The following table summarizes investments measured at fair value based on NAV per share as of January 31, 2016 and July 31, 2015, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="89%"&gt;&lt;u&gt;&lt;/u&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Unfunded&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Redemption Frequency&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Redemption&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center" width="89%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;January 31, 2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Commitments&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;(if currently eligible)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Notice Period&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;First Eagle Global CL I&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;258,304&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="89%"&gt;&lt;font size="2"&gt;Parnasus Core Equity Investor CL&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%"&gt;&lt;font size="2"&gt;&lt;font&gt;287,101&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="100%" colspan="10"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #ffffff;"&gt;
&lt;td nowrap="nowrap" align="left" width="89%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="3%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;font size="2"&gt;Unfunded&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;font size="2"&gt;Redemption Frequency&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;font size="2"&gt;Redemption&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center" width="89%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;July 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Commitments&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;(if currently eligible)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Notice Period&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;First Eagle Global CL I&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;271,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="89%"&gt;&lt;font size="2"&gt;Parnasus Core Equity Investor CL&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%"&gt;&lt;font size="2"&gt;&lt;font&gt;305,626&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Columbia Flexible Income CL A&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;271,076&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;br/&gt;
&lt;p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;&lt;font size="2"&gt;As of January 31, 2016 and July 31, 2015, the Company's marketable securities were classified as follows:&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="16%" colspan="11" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;January 31, 2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="15%" colspan="11" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;July 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="4%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Unrealized&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="4%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Unrealized&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Fair&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Unrealized&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Unrealized&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Fair&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Cost&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Gains&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Losses&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Cost&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Gains&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Losses&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Value&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;Noncurrent:&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="3%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;font size="1"&gt;Available-for-sale:&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Mutual funds&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;474,669&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;70,736&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;545,405&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;719,245&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;131,639&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;2,720&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;848,164&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;font size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Equity securities&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;478,214&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;144,843&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;623,057&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;445,227&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;168,113&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;613,340&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;952,883&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;215,579&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,168,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,164,472&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;299,752&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;2,720&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,461,504&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;br/&gt;
&lt;p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;&lt;font size="2"&gt;The Company's debt and equity securities, gross unrealized losses and fair value, aggregated by investment category and length of time that the investment securities have been in a continuous unrealized loss position at January 31, 2016 are as follows:&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; border-collapse: collapse; margin-left: 0.1px;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" style="width: 1%;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="width: 80%;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; width: 1%;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; width: 0%;"&gt;&lt;font size="2"&gt;January 31, 2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; width: 0%;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; width: 0%;"&gt;&lt;font size="2"&gt;July 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Less Than&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Less Than&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;font style="text-decoration: underline; font-size: 10pt;"&gt;Mutual funds&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;12 Months&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;12 Months&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" style="text-align: center; background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: left; background-color: #c0c0c0;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: left; width: 22px; border-bottom-color: black; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;271,076&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;2,720&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;br/&gt;
&lt;p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;&lt;font size="2"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;&lt;font size="2"&gt;Investment income consists of the following:&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; border-collapse: collapse; margin-left: 0.1px;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;" colspan="7"&gt;&lt;font size="2"&gt;Three Months Ended&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="8%" colspan="6" style="text-align: center;"&gt;&lt;font size="2"&gt;Six Months Ended&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="7"&gt;&lt;font size="2"&gt;January 31&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="8%" colspan="6" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;January 31&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="3"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="3"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="4%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="90%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Gain (loss) on sale of marketable securities&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(38,538&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;&amp;#160;(38,538&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="width: 20px; text-align: left; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;386&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;font size="2"&gt;Interest income&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;756&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;662&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;1,665&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="width: 20px;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%"&gt;&lt;font size="2"&gt;&lt;font&gt;1,287&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="90%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Dividend income&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;37,702&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;25,691&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;44,015&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;30,871&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Total&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(80&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;26,353&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font style="font-size: 10pt;"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;7,142&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font size="2"&gt;&lt;font&gt;32,544&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

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&amp;#160; &amp;#160;&lt;/div&gt;
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&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="70%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="29%" colspan="23" style="text-align: center;"&gt;&lt;b&gt;&lt;u&gt;&lt;font size="1"&gt;Fair value measurements at reporting date using&lt;/font&gt;&lt;/u&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="100%" colspan="25"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="70%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="70%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;January 31,&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;July 31,&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center" width="70%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;b&gt;&lt;font size="1"&gt;Description&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 1&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 2&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 3&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 1&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 2&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Level 3&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="70%" style="background-color: #c0c0c0;"&gt;&lt;b&gt;&lt;font size="1"&gt;Assets:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="70%"&gt;&lt;font size="1"&gt;Marketable securities -&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #ffffff;"&gt;
&lt;td nowrap="nowrap" align="left" width="70%" style="background-color: #ffffff;"&gt;&lt;font size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;available-for-sale&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,168,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,168,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,461,504&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,461,504&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock>
  <us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock id="Tag243" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="89%"&gt;&lt;u&gt;&lt;/u&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Unfunded&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Redemption Frequency&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Redemption&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center" width="89%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;January 31, 2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Commitments&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;(if currently eligible)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Notice Period&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;First Eagle Global CL I&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;258,304&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="89%"&gt;&lt;font size="2"&gt;Parnasus Core Equity Investor CL&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%"&gt;&lt;font size="2"&gt;&lt;font&gt;287,101&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="100%" colspan="10"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #ffffff;"&gt;
&lt;td nowrap="nowrap" align="left" width="89%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="3%" style="background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;font size="2"&gt;Unfunded&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;font size="2"&gt;Redemption Frequency&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"&gt;&lt;font size="2"&gt;Redemption&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center" width="89%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;July 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Commitments&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;(if currently eligible)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Notice Period&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;First Eagle Global CL I&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;271,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="89%"&gt;&lt;font size="2"&gt;Parnasus Core Equity Investor CL&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%"&gt;&lt;font size="2"&gt;&lt;font&gt;305,626&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Columbia Flexible Income CL A&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;271,076&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;n/a&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Daily&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock>
  <us-gaap:LongTermNotesAndLoans id="Tag244" contextRef="I2016-01-31_BondSt.BuildingBrooklynNYTwoMember" unitRef="USD" decimals="0">5709650</us-gaap:LongTermNotesAndLoans>
  <us-gaap:NotesAndLoansPayableCurrent id="Tag245" contextRef="I2015-07-31_BondSt.BuildingBrooklynNYTwoMember" unitRef="USD" decimals="0">150763</us-gaap:NotesAndLoansPayableCurrent>
  <us-gaap:LongTermNotesAndLoans id="Tag246" contextRef="I2015-07-31_BondSt.BuildingBrooklynNYTwoMember" unitRef="USD" decimals="0">5786525</us-gaap:LongTermNotesAndLoans>
  <us-gaap:DebtInstrumentFaceAmount id="Tag247" contextRef="I2004-08-19_FishkillNewYorkPropertyMember" unitRef="USD" decimals="0">12000000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:DebtInstrumentFaceAmount id="Tag248" contextRef="I2004-08-19_PermanentSubordinateMortgageMember_FishkillNewYorkPropertyMember" unitRef="USD" decimals="0">1870000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:MarketableSecuritiesTextBlock id="Tag249" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="16%" colspan="11" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;January 31, 2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="15%" colspan="11" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;July 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="4%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Unrealized&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="4%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Unrealized&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Fair&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Unrealized&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Unrealized&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"&gt;&lt;font size="1"&gt;Fair&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Cost&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Gains&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Losses&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Cost&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Gains&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Losses&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;Value&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;Noncurrent:&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="3%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;font size="1"&gt;Available-for-sale:&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="2%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Mutual funds&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;474,669&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;70,736&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;545,405&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;719,245&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;131,639&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;2,720&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;848,164&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="66%"&gt;&lt;font size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Equity securities&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;478,214&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;144,843&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;623,057&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;445,227&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;168,113&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="1"&gt;&lt;font&gt;613,340&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;952,883&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;215,579&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,168,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,164,472&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;299,752&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;2,720&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="1"&gt;&lt;font&gt;1,461,504&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</us-gaap:MarketableSecuritiesTextBlock>
  <us-gaap:AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock id="Tag250" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; border-collapse: collapse; margin-left: 0.1px;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" style="width: 1%;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="width: 80%;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; width: 1%;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; width: 0%;"&gt;&lt;font size="2"&gt;January 31, 2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; width: 0%;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; width: 0%;"&gt;&lt;font size="2"&gt;July 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Less Than&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Less Than&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;font style="text-decoration: underline; font-size: 10pt;"&gt;Mutual funds&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;12 Months&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;12 Months&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" style="text-align: center; background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: left; background-color: #c0c0c0;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: left; width: 22px; border-bottom-color: black; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;271,076&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;2,720&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</us-gaap:AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock>
  <us-gaap:InvestmentIncomeTextBlock id="Tag251" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; border-collapse: collapse; margin-left: 0.1px;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;" colspan="7"&gt;&lt;font size="2"&gt;Three Months Ended&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="8%" colspan="6" style="text-align: center;"&gt;&lt;font size="2"&gt;Six Months Ended&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="7"&gt;&lt;font size="2"&gt;January 31&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="8%" colspan="6" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;January 31&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="3"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="3"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="4%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="90%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Gain (loss) on sale of marketable securities&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(38,538&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;&amp;#160;(38,538&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="width: 20px; text-align: left; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;386&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;font size="2"&gt;Interest income&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;756&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;662&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;1,665&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="width: 20px;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%"&gt;&lt;font size="2"&gt;&lt;font&gt;1,287&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="90%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Dividend income&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;37,702&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;25,691&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;44,015&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;30,871&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="90%"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Total&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(80&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;26,353&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font style="font-size: 10pt;"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;7,142&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="2%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"&gt;&lt;font size="2"&gt;&lt;font&gt;32,544&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</us-gaap:InvestmentIncomeTextBlock>
  <mays:ConcentrationRiskNumberOfTenants id="Tag252" contextRef="D2015-08-01_To_2016-01-31" unitRef="Tenant" decimals="INF">49</mays:ConcentrationRiskNumberOfTenants>
  <us-gaap:ConcentrationRiskPercentage1 id="Tag253" contextRef="D2015-08-01_To_2016-01-31_SalesRevenueNetMember_CustomerOneMember" unitRef="Pure" decimals="4">0.1873</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 id="Tag254" contextRef="D2015-08-01_To_2016-01-31_SalesRevenueNetMember_CustomerTwoMember" unitRef="Pure" decimals="4">0.1550</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure id="Tag255" contextRef="D2014-08-01_To_2015-07-31" unitRef="USD" decimals="0">230000</us-gaap:ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag256" contextRef="I2016-01-31_LeaseholdImprovementsMember" unitRef="USD" decimals="0">1478012</us-gaap:PropertyPlantAndEquipmentGross>
  <mays:FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock id="Tag257" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;table cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;4.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Financial Instruments and Credit Risk Concentrations:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left;" width="100%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td width="100%"&gt;
&lt;p style="margin-top: 0pt; margin-bottom: 0pt;" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;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. &lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;The Company derives rental income from &lt;font&gt;forty-nine&lt;/font&gt; tenants, of which one tenant accounted for &lt;font&gt;18.73&lt;/font&gt;% and another tenant accounted for &lt;font&gt;15.50&lt;/font&gt;% of rental income during the six months ended January 31, 2016. No other tenant accounted for more than 10% of rental income during the same period. &lt;/font&gt;&lt;/p&gt;
&lt;p align="left" style="margin-bottom: 0pt;"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;The Company has one irrevocable Letter of Credit totaling $&lt;font&gt;230,000&lt;/font&gt;&amp;#160;at January 31, 2016 and July 31, 2015 provided by a tenant as a security deposit. &lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</mays:FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock>
  <us-gaap:ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure id="Tag258" contextRef="D2015-08-01_To_2016-01-31" unitRef="USD" decimals="0">230000</us-gaap:ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure>
  <us-gaap:MortgageNotesPayableDisclosureTextBlock id="Tag259" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-align: justify;"&gt;

&lt;tr&gt;
&lt;td colspan="2"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td width="100%" style="text-align: left;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td colspan="2"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td width="100%" style="text-align: left;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td colspan="2"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td width="100%" style="text-align: left;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td colspan="2"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top" nowrap="nowrap"&gt;&lt;b&gt;&lt;font size="2"&gt;5.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td width="100%"&gt;&lt;b&gt;&lt;font size="2"&gt;Long-Term Debt &amp;#150; Mortgage:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;br/&gt;
&lt;div&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="5%" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;January 31, 2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="5%" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;July 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Current&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Annual&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Final&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Due&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Due&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Due&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Due&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Interest&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Payment&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Within&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;After&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Within&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;After&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Rate&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Date&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;One Year&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;One Year&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;One Year&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;One Year&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Bond St. building, Brooklyn, NY&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;3.54&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;2/01/20&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;153,511&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;5,709,650&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;150,763&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;5,786,525&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;br/&gt;
&lt;table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-align: justify;"&gt;

&lt;tr&gt;
&lt;td&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td width="100%" style="text-align: left;"&gt;&lt;font size="2"&gt;The Company, on August 19, 2004, closed a loan with a bank for a $&lt;font&gt;12,000,000&lt;/font&gt; multiple draw term loan. The loan consisted of: a) a permanent, first mortgage loan to refinance an existing first mortgage loan affecting the Fishkill, New York property, which matured on July 1, 2004 (the &amp;#147;First Permanent Loan&amp;#148;), b) a permanent subordinate mortgage loan in the amount of $&lt;font&gt;1,870,000&lt;/font&gt; (the &amp;#147;Second Permanent Loan&amp;#148;), and c) multiple, successively subordinate loans in the amount of $&lt;font&gt;8,295,274&lt;/font&gt; (&amp;#147;Subordinate Building Loans&amp;#148;). The Company, in February 2008, converted the loan totaling $&lt;font&gt;12,000,000&lt;/font&gt; to a &lt;font&gt;seven&lt;/font&gt; (7) year permanent mortgage loan. The interest rate on conversion was &lt;font&gt;6.98&lt;/font&gt;%. On January 9, 2015, the Company refinanced the loan for $&lt;font&gt;6,000,000&lt;/font&gt;, which included the outstanding balance as of January 2015 in the amount of $&lt;font&gt;5,347,726&lt;/font&gt; and an additional borrowing of $&lt;font&gt;652,274&lt;/font&gt;. The loan is for a period of &lt;font&gt;five&lt;/font&gt; years with a payment based on a &lt;font&gt;twenty-five&lt;/font&gt; year amortization period. The interest rate for this period is fixed at &lt;font&gt;3.54&lt;/font&gt;% per annum. The mortgage loan is secured by the Bond Street building in Brooklyn, New York.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:MortgageNotesPayableDisclosureTextBlock>
  <us-gaap:DebtInstrumentInterestRateEffectivePercentage id="Tag260" contextRef="I2016-01-31_BondSt.BuildingBrooklynNYTwoMember" unitRef="Pure" decimals="4">0.0354</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
  <us-gaap:NotesAndLoansPayableCurrent id="Tag261" contextRef="I2016-01-31_BondSt.BuildingBrooklynNYTwoMember" unitRef="USD" decimals="0">153511</us-gaap:NotesAndLoansPayableCurrent>
  <us-gaap:DebtInstrumentFaceAmount id="Tag262" contextRef="I2004-08-19_FishkillNewYorkPropertyMember_MultipleSuccessivelySubordinateLoansMember" unitRef="USD" decimals="0">8295274</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:DebtInstrumentTerm id="Tag263" contextRef="D2015-08-01_To_2016-01-31_FishkillNewYorkPropertyMember_1">P7Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:DebtInstrumentInterestRateEffectivePercentage id="Tag264" contextRef="I2016-01-31_FishkillNewYorkPropertyMember" unitRef="Pure" decimals="4">0.0698</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
  <us-gaap:DebtInstrumentFaceAmount id="Tag265" contextRef="I2015-01-09_BondSt.BuildingBrooklynNYMember" unitRef="USD" decimals="0">6000000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:DebtInstrumentCarryingAmount id="Tag266" contextRef="I2015-01-09_BondSt.BuildingBrooklynNYMember" unitRef="USD" decimals="0">5347726</us-gaap:DebtInstrumentCarryingAmount>
  <mays:AdditionalMortgageLoansForCapitalImprovements id="Tag267" contextRef="D2015-01-01_To_2015-01-09_BondSt.BuildingBrooklynNYMember" unitRef="USD" decimals="0">652274</mays:AdditionalMortgageLoansForCapitalImprovements>
  <us-gaap:DebtInstrumentTerm id="Tag268" contextRef="D2015-08-01_To_2016-01-31_BondSt.BuildingBrooklynNYMember">P5Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1 id="Tag269" contextRef="D2015-08-01_To_2016-01-31_BondSt.BuildingBrooklynNYMember">P25Y</us-gaap:DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1>
  <us-gaap:DebtInstrumentInterestRateEffectivePercentage id="Tag270" contextRef="I2016-01-31_BondSt.BuildingBrooklynNYMember" unitRef="Pure" decimals="4">0.0354</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
  <us-gaap:DebtInstrumentMaturityDate id="Tag271" contextRef="D2015-08-01_To_2016-01-31_BondSt.BuildingBrooklynNYTwoMember">2020-02-01</us-gaap:DebtInstrumentMaturityDate>
  <us-gaap:ScheduleOfDebtInstrumentsTextBlock id="Tag272" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;"&gt;

&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="5%" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;January 31, 2016&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="5%" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;July 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Current&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Annual&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Final&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Due&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Due&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Due&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Due&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Interest&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;Payment&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Within&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;After&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;Within&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"&gt;&lt;font size="2"&gt;After&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Rate&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;Date&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;One Year&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;One Year&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;One Year&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;One Year&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="84%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;Bond St. building, Brooklyn, NY&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;3.54&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;2/01/20&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;153,511&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;5,709,650&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;150,763&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"&gt;&lt;font size="2"&gt;&lt;font&gt;5,786,525&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</us-gaap:ScheduleOfDebtInstrumentsTextBlock>
  <mays:ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock id="Tag273" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="margin-left: 19pt;"&gt;
&lt;table style="line-height: 14pt; border-collapse: collapse; width: 100%; /* margin-left: 0.1px;" cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left;" nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-family: 'Times New Roman';" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" align="center" colspan="2"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;January 31&lt;/font&gt;&lt;br/&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-family: 'Times New Roman';" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" align="center" colspan="2"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;July 31&lt;/font&gt;&lt;br/&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;Building improvements at 9 Bond Street in Brooklyn, NY&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; background-color: #c0c0c0;" align="left"&gt;$&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font&gt;188,387&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;" align="left"&gt;$&lt;/td&gt;
&lt;td style="padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font&gt;144,041&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" style="width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Building improvements at 25 Elm Place in Brooklyn, NY&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 20px;" align="left"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 20px;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,054,132&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;" align="left"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;" nowrap="nowrap" align="right"&gt;&lt;font&gt;495,001&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" style="width: 86%; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;Building improvements at Jamaica, NY&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font&gt;88,580&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; width: 5%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,331,099&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" nowrap="nowrap" align="right"&gt;&lt;font&gt;639,042&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</mays:ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag274" contextRef="I2016-01-31_BuildingAndBuildingImprovementsMember" unitRef="USD" decimals="0">76854272</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag275" contextRef="I2015-07-31_BuildingAndBuildingImprovementsMember" unitRef="USD" decimals="0">76289486</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock id="Tag276" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;6.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Property and Equipment &amp;#150; at cost:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left;" width="100%"&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;
&lt;div&gt;
&lt;div style="display: block; ;display: block;"&gt;
&lt;div class="CursorPointer" style="margin-left: 19pt;"&gt;
&lt;table style="line-height: 14pt; border-collapse: collapse; width: 100%; /* margin-left: 0.1px;" cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr valign="bottom"&gt;
&lt;td style="text-align: center; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="2"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;January 31&lt;/font&gt;&lt;br/&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="2"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;July 31&lt;/font&gt;&lt;br/&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; width: 67%; background-color: #c0c0c0;" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Property:&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #c0c0c0;" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; width: 15%; background-color: #c0c0c0;" nowrap="nowrap" align="center" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #c0c0c0;" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; width: 15%; background-color: #c0c0c0;" colspan="2" align="center"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman'; width: 86%;" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt; Buildings and improvements&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; width: 1%;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%;" nowrap="nowrap" align="right"&gt;&lt;font&gt;76,854,272&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; width: 1%;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%;" nowrap="nowrap" align="right"&gt;&lt;font&gt;76,289,486&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt; Improvements to leased property&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,478,012&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,478,012&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Land&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;6,067,805&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;6,067,805&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Construction in progress&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,331,099&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&lt;font&gt;639,042&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;85,731,188&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;84,474,345&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Less accumulated depreciation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;37,208,925&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;36,413,975&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Property - net&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;48,522,263&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;48,060,370&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Fixtures and equipment and other:&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fixtures and equipment&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;144,544&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;144,544&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Other fixed assets&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;235,623&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;235,623&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;380,167&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;380,167&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Less accumulated depreciation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;268,345&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;249,145&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fixtures and equipment and other - net&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" nowrap="nowrap" align="right"&gt;&lt;font&gt;111,822&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" nowrap="nowrap" align="right"&gt;&lt;font&gt;131,022&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Property and equipment - net&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;48,634,085&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;48,191,392&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Construction in progress includes:&lt;/font&gt;
&lt;div class="CursorPointer"&gt;
&lt;div&gt;
&lt;div style="margin-left: 19pt;"&gt;
&lt;table style="line-height: 14pt; border-collapse: collapse; width: 100%; /* margin-left: 0.1px;" cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left;" nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-family: 'Times New Roman';" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" align="center" colspan="2"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;January 31&lt;/font&gt;&lt;br/&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-family: 'Times New Roman';" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" align="center" colspan="2"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;July 31&lt;/font&gt;&lt;br/&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;Building improvements at 9 Bond Street in Brooklyn, NY&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; background-color: #c0c0c0;" align="left"&gt;$&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font&gt;188,387&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;" align="left"&gt;$&lt;/td&gt;
&lt;td style="padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font&gt;144,041&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" style="width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Building improvements at 25 Elm Place in Brooklyn, NY&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 20px;" align="left"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 20px;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,054,132&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;" align="left"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;" nowrap="nowrap" align="right"&gt;&lt;font&gt;495,001&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom" style="background-color: #c0c0c0;"&gt;
&lt;td nowrap="nowrap" align="left" style="width: 86%; background-color: #c0c0c0;"&gt;&lt;font style="font-size: 10pt;"&gt;Building improvements at Jamaica, NY&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font&gt;88,580&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; width: 5%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&lt;font&gt;&amp;#150;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,331,099&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" nowrap="nowrap" align="right"&gt;&lt;font&gt;639,042&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:PropertyPlantAndEquipmentTextBlock id="Tag277" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block; ;display: block;"&gt;
&lt;div class="CursorPointer" style="margin-left: 19pt;"&gt;
&lt;table style="line-height: 14pt; border-collapse: collapse; width: 100%; /* margin-left: 0.1px;" cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr valign="bottom"&gt;
&lt;td style="text-align: center; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="2"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;January 31&lt;/font&gt;&lt;br/&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="2"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;July 31&lt;/font&gt;&lt;br/&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; width: 67%; background-color: #c0c0c0;" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Property:&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #c0c0c0;" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; width: 15%; background-color: #c0c0c0;" nowrap="nowrap" align="center" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #c0c0c0;" align="center"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; width: 15%; background-color: #c0c0c0;" colspan="2" align="center"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman'; width: 86%;" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt; Buildings and improvements&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; width: 1%;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%;" nowrap="nowrap" align="right"&gt;&lt;font&gt;76,854,272&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; width: 1%;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%;" nowrap="nowrap" align="right"&gt;&lt;font&gt;76,289,486&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt; Improvements to leased property&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,478,012&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,478,012&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Land&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;6,067,805&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;6,067,805&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Construction in progress&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;1,331,099&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&lt;font&gt;639,042&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;85,731,188&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;84,474,345&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Less accumulated depreciation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;37,208,925&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;36,413,975&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Property - net&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;48,522,263&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;48,060,370&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Fixtures and equipment and other:&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fixtures and equipment&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;144,544&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;144,544&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Other fixed assets&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;235,623&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;235,623&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;380,167&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;380,167&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Less accumulated depreciation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;268,345&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;249,145&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fixtures and equipment and other - net&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" nowrap="nowrap" align="right"&gt;&lt;font&gt;111,822&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" nowrap="nowrap" align="right"&gt;&lt;font&gt;131,022&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Property and equipment - net&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;48,634,085&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;$&lt;/td&gt;
&lt;td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;48,191,392&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
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  <us-gaap:PropertyPlantAndEquipmentGross id="Tag279" contextRef="I2016-01-31_LandMember" unitRef="USD" decimals="0">6067805</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag280" contextRef="I2015-07-31_LandMember" unitRef="USD" decimals="0">6067805</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag281" contextRef="I2016-01-31_ConstructionInProgressMember" unitRef="USD" decimals="0">1331099</us-gaap:PropertyPlantAndEquipmentGross>
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  <us-gaap:PropertyPlantAndEquipmentGross id="Tag284" contextRef="I2015-07-31_LandAndBuildingMember" unitRef="USD" decimals="0">84474345</us-gaap:PropertyPlantAndEquipmentGross>
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  <us-gaap:PropertyPlantAndEquipmentNet id="Tag287" contextRef="I2016-01-31_LandAndBuildingMember" unitRef="USD" decimals="0">48522263</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentNet id="Tag288" contextRef="I2015-07-31_LandAndBuildingMember" unitRef="USD" decimals="0">48060370</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag289" contextRef="I2016-01-31_FurnitureAndFixturesMember" unitRef="USD" decimals="0">144544</us-gaap:PropertyPlantAndEquipmentGross>
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  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Tag295" contextRef="I2016-01-31_PropertyPlantAndEquipmentOtherTypesMember" unitRef="USD" decimals="0">268345</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Tag296" contextRef="I2015-07-31_PropertyPlantAndEquipmentOtherTypesMember" unitRef="USD" decimals="0">249145</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:PropertyPlantAndEquipmentNet id="Tag297" contextRef="I2016-01-31_PropertyPlantAndEquipmentOtherTypesMember" unitRef="USD" decimals="0">111822</us-gaap:PropertyPlantAndEquipmentNet>
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  <us-gaap:ConstructionInProgressGross id="Tag299" contextRef="I2016-01-31_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" unitRef="USD" decimals="0">188387</us-gaap:ConstructionInProgressGross>
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  <us-gaap:ConstructionInProgressGross id="Tag303" contextRef="I2016-01-31" unitRef="USD" decimals="0">1331099</us-gaap:ConstructionInProgressGross>
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  <us-gaap:ConstructionInProgressGross id="Tag305" contextRef="I2016-01-31_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" unitRef="USD" decimals="0">1054132</us-gaap:ConstructionInProgressGross>
  <us-gaap:ConstructionInProgressGross id="Tag306" contextRef="I2015-07-31_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" unitRef="USD" decimals="0">495001</us-gaap:ConstructionInProgressGross>
  <us-gaap:ProceedsFromRelatedPartyDebt id="Tag307" contextRef="D2004-12-01_To_2004-12-15_RelatedPartyNotePayableMember" unitRef="USD" decimals="0">1000000</us-gaap:ProceedsFromRelatedPartyDebt>
  <mays:MinimumPercentageOfBeneficialOwnedOfCommonStock id="Tag308" contextRef="D2004-12-01_To_2004-12-15_RelatedPartyNotePayableMember" unitRef="Pure" decimals="2">0.10</mays:MinimumPercentageOfBeneficialOwnedOfCommonStock>
  <us-gaap:DebtInstrumentPeriodicPaymentInterest id="Tag309" contextRef="D2015-08-01_To_2016-01-31_RelatedPartyNotePayableMember" unitRef="USD" decimals="0">12500</us-gaap:DebtInstrumentPeriodicPaymentInterest>
  <us-gaap:InterestExpenseRelatedParty id="Tag310" contextRef="D2015-08-01_To_2016-01-31_RelatedPartyNotePayableMember" unitRef="USD" decimals="0">25000</us-gaap:InterestExpenseRelatedParty>
  <mays:NotePayableDisclosureTextBlock id="Tag311" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="display: block; ;display: block;"&gt;
&lt;table&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;7.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Note Payable - Related Party:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="line-height: 7pt;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left;" width="100%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td width="100%"&gt;
&lt;p style="margin-top: 0pt; margin-bottom: 0pt;" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;On December 15, 2004, the Company borrowed $&lt;font&gt;1,000,000&lt;/font&gt; on an unsecured basis from a former director of the Company, who at the time was also a greater than &lt;font&gt;10&lt;/font&gt;% beneficial owner of the outstanding common stock of the Company. The former director passed away in November 2012 and the note is currently an asset of the estate of the former director. Interest payments pursuant to the note have been assigned to a trust provided for by the will of the deceased former director. The loan has been repeatedly renewed to its current maturity date of&amp;#160;&lt;font&gt;December 15, 2016&lt;/font&gt; at an interest rate of &lt;font&gt;5&lt;/font&gt;% per annum. The note is prepayable in whole or in part at any time without penalty. The constant quarterly payment of interest is&amp;#160;$&lt;font&gt;12,500&lt;/font&gt;. The interest paid was $&lt;font&gt;25,000&lt;/font&gt; for the six months ended January 31, 2016 and 2015, respectively. &lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</mays:NotePayableDisclosureTextBlock>
  <us-gaap:InterestExpenseRelatedParty id="Tag312" contextRef="D2014-08-01_To_2015-01-31_RelatedPartyNotePayableMember" unitRef="USD" decimals="0">25000</us-gaap:InterestExpenseRelatedParty>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="Tag313" contextRef="I2016-01-31_RelatedPartyNotePayableMember" unitRef="Pure" decimals="INF">0.05</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <mays:UnbilledReceivablesAndRentalIncomeTextBlock id="Tag314" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;&lt;div style="display: block;"&gt;
&lt;div style="display: block; ;display: block;"&gt;
&lt;table&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman'; width: 2.5%;" nowrap="nowrap"&gt;&lt;strong&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;8.&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="width: 97.5%;"&gt;
&lt;p style="margin-top: 0pt; margin-bottom: 0pt;" align="left"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Unbilled Receivables and Rental Income:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="
    line-height: 7pt;
"&gt;
&lt;td style="vertical-align: top; text-align: left;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td&gt;
&lt;p style="margin-top: 0pt; margin-bottom: 0pt;" align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Unbilled receivables represent the excess of scheduled rental income recognized on a straight-line basis over rental income as it becomes receivable according to the provisions of each lease.&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;&lt;/div&gt;</mays:UnbilledReceivablesAndRentalIncomeTextBlock>
  <us-gaap:DefinedContributionPlanCostRecognized id="Tag315" contextRef="D2015-11-01_To_2016-01-31" unitRef="USD" decimals="0">98296</us-gaap:DefinedContributionPlanCostRecognized>
  <us-gaap:DefinedContributionPlanCostRecognized id="Tag316" contextRef="D2015-08-01_To_2016-01-31" unitRef="USD" decimals="0">195718</us-gaap:DefinedContributionPlanCostRecognized>
  <us-gaap:MultiemployerPlanPeriodContributions id="Tag317" contextRef="D2015-11-01_To_2016-01-31" unitRef="USD" decimals="0">16440</us-gaap:MultiemployerPlanPeriodContributions>
  <us-gaap:MultiemployerPlanPeriodContributions id="Tag318" contextRef="D2015-08-01_To_2016-01-31" unitRef="USD" decimals="0">29593</us-gaap:MultiemployerPlanPeriodContributions>
  <us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock id="Tag319" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;table cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;9.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Employees' Retirement Plan:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left;" width="100%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td width="100%"&gt;
&lt;p style="margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;The Company sponsors a noncontributory Money Purchase Plan covering substantially all of its non-union employees. Operations were charged&amp;#160;$&lt;font&gt;98,296&lt;/font&gt;&amp;#160;and $&lt;font&gt;195,718&lt;/font&gt; for the three and six months ended January 31, 2016, respectively, and $&lt;font&gt;115,675&lt;/font&gt; and $&lt;font&gt;210,495&lt;/font&gt; as contributions to the Plan for the three and six months ended January 31, 2015, respectively.&lt;/font&gt;&lt;/p&gt; &lt;p align="left"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Multi-employer plan: &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;The Company contributes to a union sponsored multi-employer pension plan covering its union employees. The Company contributions to the pension plan were $&lt;font&gt;16,440&lt;/font&gt;&amp;#160;and $&lt;font&gt;29,593&lt;/font&gt; for the three and six months ended January 31, 2016, respectively, and $&lt;font&gt;13,571&lt;/font&gt; and $&lt;font&gt;23,908&lt;/font&gt; for the three and six months ended January 31, 2015, respectively. Contributions and costs are determined in accordance with the provisions of negotiated labor contracts or terms of the plans. The Company also contributes to union sponsored health benefit plans.&lt;/font&gt;&lt;/p&gt;&lt;p align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Contingent Liability for Pension Plan: &lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Information as to the Company's portion of accumulated plan benefits and plan assets is not reported separately by the pension plan. Under the Employee Retirement Income Security Act, upon withdrawal from a multi-employer benefit plan, an employer is required to continue to pay its proportionate share of the plan's unfunded vested benefits, if any. Any liability under this provision cannot be determined: however, the Company has not made a decision to withdraw from the plan. &lt;/font&gt;&lt;/p&gt;
&lt;p align="left"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Information for contributing employer's participation in the multi-employer plan: &lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" width="100%"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;div class="CursorPointer"&gt;
&lt;table style="line-height: 14pt; border-collapse: collapse; width: 100%;" cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="1%"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Legal name of Plan:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;United Food and Commercial&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="50%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Workers Local 888 Pension Fund&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Employer identification number:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;13-6367793&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Plan number:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;001&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Date of most recent Form 5500:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;December 31, 2014&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="1%"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Certified zone status:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Critical Status&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Status determination date:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;January 1, 2014&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Plan used extended amortization provisions in status&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="49%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;calculation:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Yes&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Minimum required contribution:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;None&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Employer contributing greater than 5% of Plan&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="left" width="49%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;contributions for year ended December 31, 2014:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Yes&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Rehabilitation plan implemented:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Yes&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Employer subject to surcharge:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Yes&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Contract expiration date:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;November 30, 2016&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock>
  <us-gaap:InterestPaidCapitalized id="Tag320" contextRef="D2015-08-01_To_2016-01-31" unitRef="USD" decimals="0">18127</us-gaap:InterestPaidCapitalized>
  <us-gaap:InterestPaidCapitalized id="Tag321" contextRef="D2014-08-01_To_2015-01-31" unitRef="USD" decimals="0">5359</us-gaap:InterestPaidCapitalized>
  <us-gaap:InterestPaidNet id="Tag322" contextRef="D2015-08-01_To_2016-01-31" unitRef="USD" decimals="0">123677</us-gaap:InterestPaidNet>
  <us-gaap:InterestPaidNet id="Tag323" contextRef="D2014-08-01_To_2015-01-31" unitRef="USD" decimals="0">233622</us-gaap:InterestPaidNet>
  <us-gaap:IncomeTaxesPaid id="Tag324" contextRef="D2015-08-01_To_2016-01-31" unitRef="USD" decimals="0">23654</us-gaap:IncomeTaxesPaid>
  <us-gaap:IncomeTaxesPaid id="Tag325" contextRef="D2014-08-01_To_2015-01-31" unitRef="USD" decimals="0">323926</us-gaap:IncomeTaxesPaid>
  <us-gaap:CashFlowSupplementalDisclosuresTextBlock id="Tag326" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;table cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;10.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Cash Flow Information:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left;" width="100%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;For purposes of reporting cash flows, the Company considers cash equivalents to consist of short-term highly liquid investments with maturities of three (3) months or less, which are readily convertible into cash.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;div&gt;
&lt;div style="display: block;"&gt;
&lt;div style="display: block;" align="right"&gt;
&lt;table style="line-height: 14pt; border-collapse: collapse; width: 98%; margin-left: 0.1px;" cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Supplemental disclosure:&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap" colspan="7" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Six Months Ended&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="7"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;January 31&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Interest paid, net of capitalized interest of $&lt;font&gt;18,127&lt;/font&gt;&amp;#160;(2016)&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" style="width: 1%;"&gt;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; width: 88%; background-color: #c0c0c0;" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; and $&lt;font&gt;5,359&lt;/font&gt;&amp;#160;(2015)&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 3%; background-color: #c0c0c0;" nowrap="nowrap" align="right" colspan="2"&gt;&lt;font&gt;123,677&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 3%; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font&gt;233,622&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Income taxes paid&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right" colspan="2"&gt;&lt;font&gt;23,654&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;323,926&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt;" nowrap="nowrap" align="left"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:CashFlowSupplementalDisclosuresTextBlock>
  <us-gaap:ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock id="Tag327" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="display: block;" align="right"&gt;
&lt;table style="line-height: 14pt; border-collapse: collapse; width: 98%; margin-left: 0.1px;" cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr valign="bottom"&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Supplemental disclosure:&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap" colspan="7" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Six Months Ended&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="7"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;January 31&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2016&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="center"&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Interest paid, net of capitalized interest of $&lt;font&gt;18,127&lt;/font&gt;&amp;#160;(2016)&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" align="center"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left" style="width: 1%;"&gt;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; width: 88%; background-color: #c0c0c0;" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; and $&lt;font&gt;5,359&lt;/font&gt;&amp;#160;(2015)&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 3%; background-color: #c0c0c0;" nowrap="nowrap" align="right" colspan="2"&gt;&lt;font&gt;123,677&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 3%; background-color: #c0c0c0;" nowrap="nowrap" align="right"&gt;&lt;font&gt;233,622&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr valign="bottom"&gt;
&lt;td nowrap="nowrap" align="left"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Income taxes paid&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right" colspan="2"&gt;&lt;font&gt;23,654&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;323,926&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: Times New Roman; font-size: 9pt;" nowrap="nowrap" align="left"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock id="Tag328" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;11.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Common Stock:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left;" width="100%"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;The Company has one class of common stock with identical voting rights and rights to liquidation.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:DeferredRevenue id="Tag329" contextRef="I2014-06-16_ThirtyThreeBondStreetLlcMember" unitRef="USD" decimals="0">3500000</us-gaap:DeferredRevenue>
  <us-gaap:AccountsReceivableRelatedParties id="Tag330" contextRef="I2014-06-16_ThirtyThreeBondStreetLlcMember" unitRef="USD" decimals="0">2250000</us-gaap:AccountsReceivableRelatedParties>
  <us-gaap:DueFromRelatedParties id="Tag331" contextRef="I2014-06-16_ThirtyThreeBondStreetLlcMember" unitRef="USD" decimals="0">1250000</us-gaap:DueFromRelatedParties>
  <us-gaap:OperatingLeasesIncomeStatementLeaseRevenue id="Tag332" contextRef="D2015-11-01_To_2016-01-31" unitRef="USD" decimals="0">4315940</us-gaap:OperatingLeasesIncomeStatementLeaseRevenue>
  <us-gaap:OperatingLeasesIncomeStatementLeaseRevenue id="Tag333" contextRef="D2014-11-01_To_2015-01-31" unitRef="USD" decimals="0">4412233</us-gaap:OperatingLeasesIncomeStatementLeaseRevenue>
  <mays:RecoveryOfRealEstateTaxes id="Tag334" contextRef="D2015-11-01_To_2016-01-31" unitRef="USD" xsi:nil="true" />
  <mays:RecoveryOfRealEstateTaxes id="Tag335" contextRef="D2014-11-01_To_2015-01-31" unitRef="USD" xsi:nil="true" />
  <us-gaap:OtherComprehensiveIncomeNoncontrollingInterestTextBlock id="Tag336" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt; &lt;div style="display: block;"&gt; &lt;div style="display: block;"&gt; &lt;div style="display: block; ;display: block;"&gt; &lt;table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;  &lt;tr&gt; &lt;td valign="top" nowrap="nowrap"&gt;&lt;strong&gt;&lt;font size="2"&gt;12.&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td width="100%"&gt; &lt;p align="left"&gt;&lt;b&gt;&lt;font size="2"&gt;Accumulated Other Comprehensive Income:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td valign="top" nowrap="nowrap"&gt;&lt;/td&gt; &lt;td width="100%"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td valign="top" nowrap="nowrap"&gt;&lt;/td&gt; &lt;td width="100%"&gt; &lt;p align="left"&gt;&lt;font size="2"&gt;The only component of accumulated other comprehensive income is unrealized gains (loss) on available-for-sale securities.&lt;/font&gt;&lt;/p&gt; &lt;p align="left"&gt;&lt;font size="2"&gt;A summary of the changes in accumulated other comprehensive income for the three and six months ended January 31, 2016 and 2015 is as follows:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;br/&gt; &lt;div&gt;&lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;"&gt;  &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="11%" colspan="7" style="text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;Three Months Ended&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="11%" colspan="7" style="text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;Six Months Ended&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="11%" colspan="7" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;January 31&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="11%" colspan="7" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;January 31&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="4%" colspan="2"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;(Unaudited)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="5%" colspan="3"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;(Unaudited)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="5%" colspan="3"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;(Unaudited)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="5%" colspan="3"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;(Unaudited)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;Beginning balance, net of tax effect&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;176,629&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;171,574&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;196,033&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;129,412&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td width="1%"&gt;&lt;/td&gt; &lt;td width="99%" colspan="16" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;Other comprehensive income, net of tax effect:&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unrealized gains (loss) on available-for-sale&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(51,050&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(22,823&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(81,454&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;52,339&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Tax effect&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font&gt;17,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;10,000&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;28,000&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(23,000&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unrealized gains (loss) on available-for-sale&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities, net of tax effect&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font&gt;(34,050&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(12,823&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(53,454&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;29,339&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td width="1%"&gt;&lt;/td&gt; &lt;td width="99%" colspan="16" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;Ending balance, net of tax effect&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;142,579&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;158,751&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;142,579&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;158,751&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt;&lt;/div&gt; &amp;#160;&lt;/div&gt; &lt;/div&gt; &lt;/div&gt; &lt;/div&gt;</us-gaap:OtherComprehensiveIncomeNoncontrollingInterestTextBlock>
  <mays:EntryIntoMaterialDefinitiveAgreementTextBlock id="Tag337" contextRef="D2015-08-01_To_2016-01-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;table cellspacing="0" cellpadding="0" border="0"&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;13.&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;b&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;Entry into a Material Definitive Agreement:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left;" width="100%"&gt;&lt;/td&gt;
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&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;On June 16, 2014, the Company entered into a Second Amendment of Lease (the "Amendment") with 33 Bond St. LLC ("Bond"), its landlord, for certain truck bays and approximately 1,000 square feet located at the cellar level within a garage at Livingston and Bond Street ("Premises"). Pursuant to the Amendment, (1) a lease option for the Premises was exercised extending the lease until December 8, 2043, (2) the Company, simultaneously with the execution of the Amendment, vacated the Premises so that Bond may demolish the building in which the Premises is located in order to develop and construct a new building at the location, and (3) Bond agreed to redeliver to the Company possession of the reconfigured Premises after construction.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;As consideration under the Amendment, Bond agreed to pay the Company a total of&amp;#160;$&lt;font&gt;3,500,000&lt;/font&gt;. Upon execution of the Amendment, the Company recorded $3,500,000 to deferred revenue to be amortized to revenue to temporarily vacate the premises over the expected vacate period of 36 months. Bond tendered $&lt;font&gt;2,250,000&lt;/font&gt; simultaneously with the execution of the Amendment, and the balance due of $&lt;font&gt;1,250,000&lt;/font&gt; on June 16, 2015 has been received by the Company.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" width="100%"&gt;&lt;font style="font-family: Times New Roman;" size="2"&gt;In connection with the Amendment, the parties also agreed to settle a pending lawsuit in the Supreme Court of the State of New York, Kings County, Index No. 50796/13 (the "Action"), in which the Company sought, among other things, a declaratory judgment that it validly renewed the lease for the Premises, and Bond sought, among other things, a declaratory judgment that the lease expired by its terms on December 8, 2013. Pursuant to a stipulation of settlement, filed on June 16, 2014, the Action, including all claims and counterclaims, has been discontinued with prejudice, without costs or attorneys' fees to any party as against the other. The stipulation of settlement also contains general releases by both parties of all claims.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</mays:EntryIntoMaterialDefinitiveAgreementTextBlock>
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&lt;table&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman'; width: 2.5%;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;14.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; width: 97.5%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;Contingencies:&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;tr style="
    line-height: 7pt;
"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;There are various lawsuits and claims pending against the Company. It is the opinion of management that the resolution of these matters will not have a material adverse effect on the Company's Condensed Consolidated Financial Statements.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="
    line-height: 7pt;
"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;If the Company sells, transfers, disposes of, or demolishes 25 Elm Place, Brooklyn, New York, then the Company may be liable to create a condominium unit for the loading dock. The necessity of creating the condominium unit and the cost of such condominium unit cannot be determined at this time.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="
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"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Because of defective workmanship and breach of contract, the Company commenced litigation against a contractor to pay damages and return in full $&lt;font&gt;376,467&lt;/font&gt; of a deposit paid when work commenced to replace a roof on the Fishkill, New York building. As of January 31, 2016, this deposit is included in other assets on the Condensed Consolidated Balance Sheet in security deposits. Based on limited information available at this time, the Company cannot predict the outcome of this matter and expects to vigorously pursue this contractor until the deposit is returned and damages are paid.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:LossContingencyDamagesSoughtValue id="Tag339" contextRef="D2015-08-01_To_2016-01-31_FishkillNewYorkPropertyMember" unitRef="USD" decimals="0">376467</us-gaap:LossContingencyDamagesSoughtValue>
  <dei:AmendmentFlag id="Tag340" contextRef="D2015-08-01_To_2016-01-31">false</dei:AmendmentFlag>
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&lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="11%" colspan="7" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;January 31&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="11%" colspan="7" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;January 31&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="4%" colspan="2"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;(Unaudited)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="5%" colspan="3"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;(Unaudited)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="5%" colspan="3"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;(Unaudited)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" width="1%" style="text-align: center;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="center" width="5%" colspan="3"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;(Unaudited)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;Beginning balance, net of tax effect&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;176,629&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;171,574&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;196,033&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;129,412&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td width="1%"&gt;&lt;/td&gt; &lt;td width="99%" colspan="16" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;Other comprehensive income, net of tax effect:&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unrealized gains (loss) on available-for-sale&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(51,050&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(22,823&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(81,454&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;52,339&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Tax effect&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font&gt;17,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;10,000&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;28,000&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(23,000&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unrealized gains (loss) on available-for-sale&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;securities, net of tax effect&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font&gt;(34,050&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(12,823&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;(53,454&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;29,339&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td width="1%"&gt;&lt;/td&gt; &lt;td width="99%" colspan="16" style="background-color: rgb(192, 192, 192);"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr valign="bottom"&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="76%"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;Ending balance, net of tax effect&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;142,579&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;158,751&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;142,579&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%"&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;font size="2"&gt;&lt;font size="2"&gt;&lt;font&gt;158,751&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt; &lt;td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>6
<FILENAME>mays-20160131.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--Created by DG3, Powered by IRIS Carbon-->
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        <link:definition>40301 - Disclosure - Marketable Securities (Schedule of financial assets measured at fair value on recurring basis) (Details)</link:definition>
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      <link:roleType roleURI="http://www.jwmays.com/role/mays-paeacd" id="mays-paeacd">
        <link:definition>40601 - Disclosure - Property and Equipment - at cost (Details)</link:definition>
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        <link:definition>40701 - Disclosure - Note Payable - Related Party (Details)</link:definition>
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        <link:definition>40901 - Disclosure - Employees' Retirement Plan (Details)</link:definition>
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        <link:definition>41301 - Disclosure - Entry into a Material Definitive Agreement (Details)</link:definition>
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        <link:definition>41401 - Disclosure - Contingencies (Details)</link:definition>
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        <link:definition>41501 - Disclosure - Subsequent Event (Details)</link:definition>
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        <link:definition>40101 - Disclosure - Accounting Records and Use of Estimates (Details)</link:definition>
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        <link:definition>403031 - Disclosure - Marketable Securities (Schedule of Securities in a Continuous Unrealized Loss Position) (Details)</link:definition>
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  <xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2006/ref" schemaLocation="http://www.xbrl.org/2006/ref-2006-02-27.xsd" />
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  <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/XLink" schemaLocation="http://www.xbrl.org/2003/xl-2003-12-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/invest/2013-01-31" schemaLocation="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/dei/2014-01-31" schemaLocation="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/us-gaap/2015-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd" />
  <xsd:element name="DeferredChargesGross" id="mays_DeferredChargesGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="AccumulatedAmortizationOfDeferredCharges" id="mays_AccumulatedAmortizationOfDeferredCharges" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="SecurityDepositsPayableNonCurrent" id="mays_SecurityDepositsPayableNonCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="PayrollAndOtherAccruedLiabilitiesCurrent" id="mays_PayrollAndOtherAccruedLiabilitiesCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="SecurityDepositsPayableCurrent" id="mays_SecurityDepositsPayableCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="AmortizationOfDeferredRevenuePerMonth" id="mays_AmortizationOfDeferredRevenuePerMonth" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="EntryIntoMaterialDefinitiveAgreementTextBlock" id="mays_EntryIntoMaterialDefinitiveAgreementTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ThirtyThreeBondStreetLlcMember" id="mays_ThirtyThreeBondStreetLlcMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentOneMember" id="mays_InvestmentOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentTwoMember" id="mays_InvestmentTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentThreeMember" id="mays_InvestmentThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentFourMember" id="mays_InvestmentFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NoncurrentMember" id="mays_NoncurrentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MutualFundsMember" id="mays_MutualFundsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RecoveryOfRealEstateTaxes" id="mays_RecoveryOfRealEstateTaxes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="VacateLeaseRevenue" id="mays_VacateLeaseRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ConcentrationRiskNumberOfTenants" id="mays_ConcentrationRiskNumberOfTenants" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" id="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CustomerOneMember" id="mays_CustomerOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerTwoMember" id="mays_CustomerTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FishkillNewYorkPropertyMember" id="mays_FishkillNewYorkPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BondSt.BuildingBrooklynNYMember" id="mays_BondSt.BuildingBrooklynNYMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BondSt.BuildingBrooklynNYTwoMember" id="mays_BondSt.BuildingBrooklynNYTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" id="mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" id="mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BuildingImprovementsFishkillNyMember" id="mays_BuildingImprovementsFishkillNyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" id="mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BuildingImprovementsAtJamaicaNyMember" id="mays_BuildingImprovementsAtJamaicaNyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MinimumPercentageOfBeneficialOwnedOfCommonStock" id="mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NotePayableDisclosureTextBlock" id="mays_NotePayableDisclosureTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="UnbilledReceivablesAndRentalIncomeTextBlock" id="mays_UnbilledReceivablesAndRentalIncomeTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PermanentSubordinateMortgageMember" id="mays_PermanentSubordinateMortgageMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MultipleSuccessivelySubordinateLoansMember" id="mays_MultipleSuccessivelySubordinateLoansMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherAssetsDeferredCharges" id="mays_OtherAssetsDeferredCharges" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" id="mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInOtherTaxesPayable" id="mays_IncreaseDecreaseInOtherTaxesPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="PaymentsToSecurityDeposits" id="mays_PaymentsToSecurityDeposits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveIncomeAbstract" id="mays_AccumulatedOtherComprehensiveIncomeAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AdditionalMortgageLoansForCapitalImprovements" id="mays_AdditionalMortgageLoansForCapitalImprovements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CollateralizedDebt" id="mays_CollateralizedDebt" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ConstructionOfTwoNewElevatorsMember" id="mays_ConstructionOfTwoNewElevatorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CurrentMember" id="mays_CurrentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerThreeMember" id="mays_CustomerThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisposalOfFullyDepreciatedPropertyAndEquipment" id="mays_DisposalOfFullyDepreciatedPropertyAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DocumentAndEntityInformationAbstract" id="mays_DocumentAndEntityInformationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EntryIntoMaterialDefinitiveAgreementAbstract" id="mays_EntryIntoMaterialDefinitiveAgreementAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" id="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInUnbilledReceivableBadDebts" id="mays_IncreaseDecreaseInUnbilledReceivableBadDebts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="InvestmentFiveMember" id="mays_InvestmentFiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentIncomeAndInterestExpensesAbstract" id="mays_InvestmentIncomeAndInterestExpensesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LongTermDebtRefinancedAmount" id="mays_LongTermDebtRefinancedAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="MortgagesAndTermLoanLongTermDebtDisclosureAbstract" id="mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PayrollAndOtherAccruedLiabilitiesNonCurrent" id="mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="UnbilledReceivablesMember" id="mays_UnbilledReceivablesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnbilledReceivablesAndRentalIncomeAbstract" id="mays_UnbilledReceivablesAndRentalIncomeAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" id="mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TermOfLease" id="mays_TermOfLease" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="RelatedPartyNotePayableMember" id="mays_RelatedPartyNotePayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NetOperatingLossUtilized" id="mays_NetOperatingLossUtilized" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ReductionInDeferredTaxAssetOnRevisionOfTaxCode" id="mays_ReductionInDeferredTaxAssetOnRevisionOfTaxCode" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ReductionInDeferredTaxLiabilityOnRevisionOfTaxCode" id="mays_ReductionInDeferredTaxLiabilityOnRevisionOfTaxCode" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ReductionInDeferredTaxesOnSecuritiesRevisionOfTaxCode" id="mays_ReductionInDeferredTaxesOnSecuritiesRevisionOfTaxCode" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="RealEstateTaxesRefundableCurrent" id="mays_RealEstateTaxesRefundableCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="IncreaseDecreaseIInRealEstateTaxesRefundable" id="mays_IncreaseDecreaseIInRealEstateTaxesRefundable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>mays-20160131_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeasingCommissionsExpense" xlink:label="us-gaap_LeasingCommissionsExpense" xlink:title="us-gaap_LeasingCommissionsExpense" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xlink:title="us-gaap_SubsequentEventMember" />
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  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://www.jwmays.com/role/mays-se1">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="us-gaap_SubsequentEventsAbstract" xlink:title="us-gaap_SubsequentEventsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock" xlink:title="us-gaap_SubsequentEventsTextBlock" />
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  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://www.jwmays.com/role/mays-cfi">
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:label="us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:title="us-gaap_CashFlowSupplementalDisclosuresTextBlock" />
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  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://www.jwmays.com/role/mays-cfit">
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:label="us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:title="us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" />
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  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>8
<FILENAME>mays-20160131_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--Created by DG3, Powered by IRIS Carbon-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" />
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_DeferredChargesGross" xlink:label="mays_DeferredChargesGross" xlink:title="mays_DeferredChargesGross" />
    <link:label xlink:type="resource" xlink:label="label_mays_DeferredChargesGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_DeferredChargesGross" xml:lang="en-US" id="label_mays_DeferredChargesGross">This element represents costs incurred by the lessor for the current period, that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This amount is before considering accumulated amortization representing the periodic charge to earnings to recognize the deferred costs over the term of the related lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_DeferredChargesGross" xlink:to="label_mays_DeferredChargesGross" xlink:title="Label : mays_DeferredChargesGross to label_mays_DeferredChargesGross" />
    <link:label xlink:type="resource" xlink:label="label_mays_DeferredChargesGross_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_DeferredChargesGross_1" xml:lang="en-US" id="label_mays_DeferredChargesGross_1">Deferred Charges Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_DeferredChargesGross" xlink:to="label_mays_DeferredChargesGross_1" xlink:title="Label : mays_DeferredChargesGross to label_mays_DeferredChargesGross_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_DeferredChargesGross_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_DeferredChargesGross_2" xml:lang="en-US" id="label_mays_DeferredChargesGross_2">Deferred charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_DeferredChargesGross" xlink:to="label_mays_DeferredChargesGross_2" xlink:title="Label : mays_DeferredChargesGross to label_mays_DeferredChargesGross_2" />
    <link:label xlink:type="resource" xlink:label="label_mays_DeferredChargesGross_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_DeferredChargesGross_3" xml:lang="en-US" id="label_mays_DeferredChargesGross_3">Gross Carrying Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_DeferredChargesGross" xlink:to="label_mays_DeferredChargesGross_3" xlink:title="Label : mays_DeferredChargesGross to label_mays_DeferredChargesGross_3" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_AccumulatedAmortizationOfDeferredCharges" xlink:label="mays_AccumulatedAmortizationOfDeferredCharges" xlink:title="mays_AccumulatedAmortizationOfDeferredCharges" />
    <link:label xlink:type="resource" xlink:label="label_mays_AccumulatedAmortizationOfDeferredCharges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_AccumulatedAmortizationOfDeferredCharges" xml:lang="en-US" id="label_mays_AccumulatedAmortizationOfDeferredCharges">The accumulated amortization, as of the reporting date, which represents the periodic charge to earnings of initial direct costs which have been deferred and are being allocated over the lease term in proportion to the recognition of rental income.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AccumulatedAmortizationOfDeferredCharges" xlink:to="label_mays_AccumulatedAmortizationOfDeferredCharges" xlink:title="Label : mays_AccumulatedAmortizationOfDeferredCharges to label_mays_AccumulatedAmortizationOfDeferredCharges" />
    <link:label xlink:type="resource" xlink:label="label_mays_AccumulatedAmortizationOfDeferredCharges_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_AccumulatedAmortizationOfDeferredCharges_1" xml:lang="en-US" id="label_mays_AccumulatedAmortizationOfDeferredCharges_1">Accumulated Amortization Of Deferred Charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AccumulatedAmortizationOfDeferredCharges" xlink:to="label_mays_AccumulatedAmortizationOfDeferredCharges_1" xlink:title="Label : mays_AccumulatedAmortizationOfDeferredCharges to label_mays_AccumulatedAmortizationOfDeferredCharges_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_AccumulatedAmortizationOfDeferredCharges_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_AccumulatedAmortizationOfDeferredCharges_2" xml:lang="en-US" id="label_mays_AccumulatedAmortizationOfDeferredCharges_2">Less: accumulated amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AccumulatedAmortizationOfDeferredCharges" xlink:to="label_mays_AccumulatedAmortizationOfDeferredCharges_2" xlink:title="Label : mays_AccumulatedAmortizationOfDeferredCharges to label_mays_AccumulatedAmortizationOfDeferredCharges_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_SecurityDepositsPayableNonCurrent" xlink:label="mays_SecurityDepositsPayableNonCurrent" xlink:title="mays_SecurityDepositsPayableNonCurrent" />
    <link:label xlink:type="resource" xlink:label="label_mays_SecurityDepositsPayableNonCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_SecurityDepositsPayableNonCurrent" xml:lang="en-US" id="label_mays_SecurityDepositsPayableNonCurrent">The noncurrent portion of security deposits payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_SecurityDepositsPayableNonCurrent" xlink:to="label_mays_SecurityDepositsPayableNonCurrent" xlink:title="Label : mays_SecurityDepositsPayableNonCurrent to label_mays_SecurityDepositsPayableNonCurrent" />
    <link:label xlink:type="resource" xlink:label="label_mays_SecurityDepositsPayableNonCurrent_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_SecurityDepositsPayableNonCurrent_1" xml:lang="en-US" id="label_mays_SecurityDepositsPayableNonCurrent_1">Security Deposits Payable Non Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_SecurityDepositsPayableNonCurrent" xlink:to="label_mays_SecurityDepositsPayableNonCurrent_1" xlink:title="Label : mays_SecurityDepositsPayableNonCurrent to label_mays_SecurityDepositsPayableNonCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_SecurityDepositsPayableNonCurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_SecurityDepositsPayableNonCurrent_2" xml:lang="en-US" id="label_mays_SecurityDepositsPayableNonCurrent_2">Security deposits payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_SecurityDepositsPayableNonCurrent" xlink:to="label_mays_SecurityDepositsPayableNonCurrent_2" xlink:title="Label : mays_SecurityDepositsPayableNonCurrent to label_mays_SecurityDepositsPayableNonCurrent_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_PayrollAndOtherAccruedLiabilitiesCurrent" xlink:label="mays_PayrollAndOtherAccruedLiabilitiesCurrent" xlink:title="mays_PayrollAndOtherAccruedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent" xml:lang="en-US" id="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent">Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to payroll taxes received from employees. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Also includes the obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PayrollAndOtherAccruedLiabilitiesCurrent" xlink:to="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent" xlink:title="Label : mays_PayrollAndOtherAccruedLiabilitiesCurrent to label_mays_PayrollAndOtherAccruedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_1" xml:lang="en-US" id="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_1">Payroll and Other Accrued Liabilities Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PayrollAndOtherAccruedLiabilitiesCurrent" xlink:to="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_1" xlink:title="Label : mays_PayrollAndOtherAccruedLiabilitiesCurrent to label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_2" xml:lang="en-US" id="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_2">Payroll and other accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PayrollAndOtherAccruedLiabilitiesCurrent" xlink:to="label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_2" xlink:title="Label : mays_PayrollAndOtherAccruedLiabilitiesCurrent to label_mays_PayrollAndOtherAccruedLiabilitiesCurrent_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_SecurityDepositsPayableCurrent" xlink:label="mays_SecurityDepositsPayableCurrent" xlink:title="mays_SecurityDepositsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_mays_SecurityDepositsPayableCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_SecurityDepositsPayableCurrent" xml:lang="en-US" id="label_mays_SecurityDepositsPayableCurrent">The current portion of security deposits payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_SecurityDepositsPayableCurrent" xlink:to="label_mays_SecurityDepositsPayableCurrent" xlink:title="Label : mays_SecurityDepositsPayableCurrent to label_mays_SecurityDepositsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_mays_SecurityDepositsPayableCurrent_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_SecurityDepositsPayableCurrent_1" xml:lang="en-US" id="label_mays_SecurityDepositsPayableCurrent_1">Security Deposits Payable Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_SecurityDepositsPayableCurrent" xlink:to="label_mays_SecurityDepositsPayableCurrent_1" xlink:title="Label : mays_SecurityDepositsPayableCurrent to label_mays_SecurityDepositsPayableCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_SecurityDepositsPayableCurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_SecurityDepositsPayableCurrent_2" xml:lang="en-US" id="label_mays_SecurityDepositsPayableCurrent_2">Current portion of security deposits payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_SecurityDepositsPayableCurrent" xlink:to="label_mays_SecurityDepositsPayableCurrent_2" xlink:title="Label : mays_SecurityDepositsPayableCurrent to label_mays_SecurityDepositsPayableCurrent_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_AmortizationOfDeferredRevenuePerMonth" xlink:label="mays_AmortizationOfDeferredRevenuePerMonth" xlink:title="mays_AmortizationOfDeferredRevenuePerMonth" />
    <link:label xlink:type="resource" xlink:label="label_mays_AmortizationOfDeferredRevenuePerMonth" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_AmortizationOfDeferredRevenuePerMonth" xml:lang="en-US" id="label_mays_AmortizationOfDeferredRevenuePerMonth">Amortization of Deferred Revenue Per Month</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AmortizationOfDeferredRevenuePerMonth" xlink:to="label_mays_AmortizationOfDeferredRevenuePerMonth" xlink:title="Label : mays_AmortizationOfDeferredRevenuePerMonth to label_mays_AmortizationOfDeferredRevenuePerMonth" />
    <link:label xlink:type="resource" xlink:label="label_mays_AmortizationOfDeferredRevenuePerMonth_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_AmortizationOfDeferredRevenuePerMonth_1" xml:lang="en-US" id="label_mays_AmortizationOfDeferredRevenuePerMonth_1">Amortization of deferred revenue per month</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AmortizationOfDeferredRevenuePerMonth" xlink:to="label_mays_AmortizationOfDeferredRevenuePerMonth_1" xlink:title="Label : mays_AmortizationOfDeferredRevenuePerMonth to label_mays_AmortizationOfDeferredRevenuePerMonth_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_EntryIntoMaterialDefinitiveAgreementTextBlock" xlink:label="mays_EntryIntoMaterialDefinitiveAgreementTextBlock" xlink:title="mays_EntryIntoMaterialDefinitiveAgreementTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock" xml:lang="en-US" id="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock">Entry Into Material Definitive Agreement [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_EntryIntoMaterialDefinitiveAgreementTextBlock" xlink:to="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock" xlink:title="Label : mays_EntryIntoMaterialDefinitiveAgreementTextBlock to label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_1" xml:lang="en-US" id="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_1">Entry Into Material Definitive Agreement [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_EntryIntoMaterialDefinitiveAgreementTextBlock" xlink:to="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_1" xlink:title="Label : mays_EntryIntoMaterialDefinitiveAgreementTextBlock to label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_2" xml:lang="en-US" id="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_2">Entry into a Material Definitive Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_EntryIntoMaterialDefinitiveAgreementTextBlock" xlink:to="label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_2" xlink:title="Label : mays_EntryIntoMaterialDefinitiveAgreementTextBlock to label_mays_EntryIntoMaterialDefinitiveAgreementTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_ThirtyThreeBondStreetLlcMember" xlink:label="mays_ThirtyThreeBondStreetLlcMember" xlink:title="mays_ThirtyThreeBondStreetLlcMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_ThirtyThreeBondStreetLlcMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_ThirtyThreeBondStreetLlcMember" xml:lang="en-US" id="label_mays_ThirtyThreeBondStreetLlcMember">33 Bond St. LLC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ThirtyThreeBondStreetLlcMember" xlink:to="label_mays_ThirtyThreeBondStreetLlcMember" xlink:title="Label : mays_ThirtyThreeBondStreetLlcMember to label_mays_ThirtyThreeBondStreetLlcMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_ThirtyThreeBondStreetLlcMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_ThirtyThreeBondStreetLlcMember_1" xml:lang="en-US" id="label_mays_ThirtyThreeBondStreetLlcMember_1">Thirty Three Bond Street Llc [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ThirtyThreeBondStreetLlcMember" xlink:to="label_mays_ThirtyThreeBondStreetLlcMember_1" xlink:title="Label : mays_ThirtyThreeBondStreetLlcMember to label_mays_ThirtyThreeBondStreetLlcMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_ThirtyThreeBondStreetLlcMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_ThirtyThreeBondStreetLlcMember_2" xml:lang="en-US" id="label_mays_ThirtyThreeBondStreetLlcMember_2">33 Bond St. LLC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ThirtyThreeBondStreetLlcMember" xlink:to="label_mays_ThirtyThreeBondStreetLlcMember_2" xlink:title="Label : mays_ThirtyThreeBondStreetLlcMember to label_mays_ThirtyThreeBondStreetLlcMember_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_InvestmentOneMember" xlink:label="mays_InvestmentOneMember" xlink:title="mays_InvestmentOneMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_InvestmentOneMember" xml:lang="en-US" id="label_mays_InvestmentOneMember">Investment One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentOneMember" xlink:to="label_mays_InvestmentOneMember" xlink:title="Label : mays_InvestmentOneMember to label_mays_InvestmentOneMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_InvestmentOneMember_1" xml:lang="en-US" id="label_mays_InvestmentOneMember_1">Investment One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentOneMember" xlink:to="label_mays_InvestmentOneMember_1" xlink:title="Label : mays_InvestmentOneMember to label_mays_InvestmentOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_InvestmentOneMember_2" xml:lang="en-US" id="label_mays_InvestmentOneMember_2">First Eagle Global CL I [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentOneMember" xlink:to="label_mays_InvestmentOneMember_2" xlink:title="Label : mays_InvestmentOneMember to label_mays_InvestmentOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_InvestmentTwoMember" xlink:label="mays_InvestmentTwoMember" xlink:title="mays_InvestmentTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_InvestmentTwoMember" xml:lang="en-US" id="label_mays_InvestmentTwoMember">Investment Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentTwoMember" xlink:to="label_mays_InvestmentTwoMember" xlink:title="Label : mays_InvestmentTwoMember to label_mays_InvestmentTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_InvestmentTwoMember_1" xml:lang="en-US" id="label_mays_InvestmentTwoMember_1">Investment Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentTwoMember" xlink:to="label_mays_InvestmentTwoMember_1" xlink:title="Label : mays_InvestmentTwoMember to label_mays_InvestmentTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_InvestmentTwoMember_2" xml:lang="en-US" id="label_mays_InvestmentTwoMember_2">Parnasus Core Equity Investor CL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentTwoMember" xlink:to="label_mays_InvestmentTwoMember_2" xlink:title="Label : mays_InvestmentTwoMember to label_mays_InvestmentTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:title="dei_AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="label_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_AmendmentFlag" xml:lang="en-US" id="label_dei_AmendmentFlag">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="label_dei_AmendmentFlag" xlink:title="Label : dei_AmendmentFlag to label_dei_AmendmentFlag" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_InvestmentThreeMember" xlink:label="mays_InvestmentThreeMember" xlink:title="mays_InvestmentThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_InvestmentThreeMember" xml:lang="en-US" id="label_mays_InvestmentThreeMember">Investment Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentThreeMember" xlink:to="label_mays_InvestmentThreeMember" xlink:title="Label : mays_InvestmentThreeMember to label_mays_InvestmentThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_InvestmentThreeMember_1" xml:lang="en-US" id="label_mays_InvestmentThreeMember_1">Investment Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentThreeMember" xlink:to="label_mays_InvestmentThreeMember_1" xlink:title="Label : mays_InvestmentThreeMember to label_mays_InvestmentThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_InvestmentThreeMember_2" xml:lang="en-US" id="label_mays_InvestmentThreeMember_2">Columbia Flexible Income CL A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentThreeMember" xlink:to="label_mays_InvestmentThreeMember_2" xlink:title="Label : mays_InvestmentThreeMember to label_mays_InvestmentThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_InvestmentFourMember" xlink:label="mays_InvestmentFourMember" xlink:title="mays_InvestmentFourMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_InvestmentFourMember" xml:lang="en-US" id="label_mays_InvestmentFourMember">Investment Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentFourMember" xlink:to="label_mays_InvestmentFourMember" xlink:title="Label : mays_InvestmentFourMember to label_mays_InvestmentFourMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentFourMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_InvestmentFourMember_1" xml:lang="en-US" id="label_mays_InvestmentFourMember_1">Investment Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentFourMember" xlink:to="label_mays_InvestmentFourMember_1" xlink:title="Label : mays_InvestmentFourMember to label_mays_InvestmentFourMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentFourMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_InvestmentFourMember_2" xml:lang="en-US" id="label_mays_InvestmentFourMember_2">Transamerica Tactical Income CL A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentFourMember" xlink:to="label_mays_InvestmentFourMember_2" xlink:title="Label : mays_InvestmentFourMember to label_mays_InvestmentFourMember_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_NoncurrentMember" xlink:label="mays_NoncurrentMember" xlink:title="mays_NoncurrentMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_NoncurrentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_NoncurrentMember" xml:lang="en-US" id="label_mays_NoncurrentMember">Noncurrent [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_NoncurrentMember" xlink:to="label_mays_NoncurrentMember" xlink:title="Label : mays_NoncurrentMember to label_mays_NoncurrentMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_NoncurrentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_NoncurrentMember_1" xml:lang="en-US" id="label_mays_NoncurrentMember_1">Noncurrent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_NoncurrentMember" xlink:to="label_mays_NoncurrentMember_1" xlink:title="Label : mays_NoncurrentMember to label_mays_NoncurrentMember_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_MutualFundsMember" xlink:label="mays_MutualFundsMember" xlink:title="mays_MutualFundsMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_MutualFundsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_MutualFundsMember" xml:lang="en-US" id="label_mays_MutualFundsMember">Mutual Funds [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_MutualFundsMember" xlink:to="label_mays_MutualFundsMember" xlink:title="Label : mays_MutualFundsMember to label_mays_MutualFundsMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_MutualFundsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_MutualFundsMember_1" xml:lang="en-US" id="label_mays_MutualFundsMember_1">Mutual Funds [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_MutualFundsMember" xlink:to="label_mays_MutualFundsMember_1" xlink:title="Label : mays_MutualFundsMember to label_mays_MutualFundsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentHoldingAxis" xlink:label="invest_InvestmentHoldingAxis" xlink:title="invest_InvestmentHoldingAxis" />
    <link:label xlink:type="resource" xlink:label="label_invest_InvestmentHoldingAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_invest_InvestmentHoldingAxis" xml:lang="en-US" id="label_invest_InvestmentHoldingAxis">Investment Holding [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentHoldingAxis" xlink:to="label_invest_InvestmentHoldingAxis" xlink:title="Label : invest_InvestmentHoldingAxis to label_invest_InvestmentHoldingAxis" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_RecoveryOfRealEstateTaxes" xlink:label="mays_RecoveryOfRealEstateTaxes" xlink:title="mays_RecoveryOfRealEstateTaxes" />
    <link:label xlink:type="resource" xlink:label="label_mays_RecoveryOfRealEstateTaxes" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_RecoveryOfRealEstateTaxes" xml:lang="en-US" id="label_mays_RecoveryOfRealEstateTaxes">Represents amount of recovery of real estate taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_RecoveryOfRealEstateTaxes" xlink:to="label_mays_RecoveryOfRealEstateTaxes" xlink:title="Label : mays_RecoveryOfRealEstateTaxes to label_mays_RecoveryOfRealEstateTaxes" />
    <link:label xlink:type="resource" xlink:label="label_mays_RecoveryOfRealEstateTaxes_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_RecoveryOfRealEstateTaxes_1" xml:lang="en-US" id="label_mays_RecoveryOfRealEstateTaxes_1">Recovery of Real Estate Taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_RecoveryOfRealEstateTaxes" xlink:to="label_mays_RecoveryOfRealEstateTaxes_1" xlink:title="Label : mays_RecoveryOfRealEstateTaxes to label_mays_RecoveryOfRealEstateTaxes_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_RecoveryOfRealEstateTaxes_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_RecoveryOfRealEstateTaxes_2" xml:lang="en-US" id="label_mays_RecoveryOfRealEstateTaxes_2">Recovery of real estate taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_RecoveryOfRealEstateTaxes" xlink:to="label_mays_RecoveryOfRealEstateTaxes_2" xlink:title="Label : mays_RecoveryOfRealEstateTaxes to label_mays_RecoveryOfRealEstateTaxes_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentHoldingDomain" xlink:label="invest_InvestmentHoldingDomain" xlink:title="invest_InvestmentHoldingDomain" />
    <link:label xlink:type="resource" xlink:label="label_invest_InvestmentHoldingDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_invest_InvestmentHoldingDomain" xml:lang="en-US" id="label_invest_InvestmentHoldingDomain">Investment Holding [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentHoldingDomain" xlink:to="label_invest_InvestmentHoldingDomain" xlink:title="Label : invest_InvestmentHoldingDomain to label_invest_InvestmentHoldingDomain" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_VacateLeaseRevenue" xlink:label="mays_VacateLeaseRevenue" xlink:title="mays_VacateLeaseRevenue" />
    <link:label xlink:type="resource" xlink:label="label_mays_VacateLeaseRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_VacateLeaseRevenue" xml:lang="en-US" id="label_mays_VacateLeaseRevenue">Revenue to temporarily vacate lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_VacateLeaseRevenue" xlink:to="label_mays_VacateLeaseRevenue" xlink:title="Label : mays_VacateLeaseRevenue to label_mays_VacateLeaseRevenue" />
    <link:label xlink:type="resource" xlink:label="label_mays_VacateLeaseRevenue_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_VacateLeaseRevenue_1" xml:lang="en-US" id="label_mays_VacateLeaseRevenue_1">Vacate Lease Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_VacateLeaseRevenue" xlink:to="label_mays_VacateLeaseRevenue_1" xlink:title="Label : mays_VacateLeaseRevenue to label_mays_VacateLeaseRevenue_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_VacateLeaseRevenue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_VacateLeaseRevenue_2" xml:lang="en-US" id="label_mays_VacateLeaseRevenue_2">Revenue to temporarily vacate lease (Note 13)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_VacateLeaseRevenue" xlink:to="label_mays_VacateLeaseRevenue_2" xlink:title="Label : mays_VacateLeaseRevenue to label_mays_VacateLeaseRevenue_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_ConcentrationRiskNumberOfTenants" xlink:label="mays_ConcentrationRiskNumberOfTenants" xlink:title="mays_ConcentrationRiskNumberOfTenants" />
    <link:label xlink:type="resource" xlink:label="label_mays_ConcentrationRiskNumberOfTenants" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_ConcentrationRiskNumberOfTenants" xml:lang="en-US" id="label_mays_ConcentrationRiskNumberOfTenants">Represents the number of tenants from whom rental income is derived.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ConcentrationRiskNumberOfTenants" xlink:to="label_mays_ConcentrationRiskNumberOfTenants" xlink:title="Label : mays_ConcentrationRiskNumberOfTenants to label_mays_ConcentrationRiskNumberOfTenants" />
    <link:label xlink:type="resource" xlink:label="label_mays_ConcentrationRiskNumberOfTenants_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_ConcentrationRiskNumberOfTenants_1" xml:lang="en-US" id="label_mays_ConcentrationRiskNumberOfTenants_1">Concentration Risk Number of Tenants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ConcentrationRiskNumberOfTenants" xlink:to="label_mays_ConcentrationRiskNumberOfTenants_1" xlink:title="Label : mays_ConcentrationRiskNumberOfTenants to label_mays_ConcentrationRiskNumberOfTenants_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_ConcentrationRiskNumberOfTenants_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_ConcentrationRiskNumberOfTenants_2" xml:lang="en-US" id="label_mays_ConcentrationRiskNumberOfTenants_2">Number of tenants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ConcentrationRiskNumberOfTenants" xlink:to="label_mays_ConcentrationRiskNumberOfTenants_2" xlink:title="Label : mays_ConcentrationRiskNumberOfTenants to label_mays_ConcentrationRiskNumberOfTenants_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" xlink:label="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" xlink:title="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" xml:lang="en-US" id="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock">The entire disclosure for financial instruments and credit risk concentrations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" xlink:to="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" xlink:title="Label : mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock to label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_1" xml:lang="en-US" id="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_1">Financial Instruments and Credit Risk Concentrations Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" xlink:to="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_1" xlink:title="Label : mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock to label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_2" xml:lang="en-US" id="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_2">Financial Instruments and Credit Risk Concentrations:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock" xlink:to="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_2" xlink:title="Label : mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock to label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_CustomerOneMember" xlink:label="mays_CustomerOneMember" xlink:title="mays_CustomerOneMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_CustomerOneMember" xml:lang="en-US" id="label_mays_CustomerOneMember">Customer One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerOneMember" xlink:to="label_mays_CustomerOneMember" xlink:title="Label : mays_CustomerOneMember to label_mays_CustomerOneMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_CustomerOneMember_1" xml:lang="en-US" id="label_mays_CustomerOneMember_1">Customer One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerOneMember" xlink:to="label_mays_CustomerOneMember_1" xlink:title="Label : mays_CustomerOneMember to label_mays_CustomerOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_CustomerOneMember_2" xml:lang="en-US" id="label_mays_CustomerOneMember_2">Tenant One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerOneMember" xlink:to="label_mays_CustomerOneMember_2" xlink:title="Label : mays_CustomerOneMember to label_mays_CustomerOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_CustomerTwoMember" xlink:label="mays_CustomerTwoMember" xlink:title="mays_CustomerTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_CustomerTwoMember" xml:lang="en-US" id="label_mays_CustomerTwoMember">Customer Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerTwoMember" xlink:to="label_mays_CustomerTwoMember" xlink:title="Label : mays_CustomerTwoMember to label_mays_CustomerTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_CustomerTwoMember_1" xml:lang="en-US" id="label_mays_CustomerTwoMember_1">Customer Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerTwoMember" xlink:to="label_mays_CustomerTwoMember_1" xlink:title="Label : mays_CustomerTwoMember to label_mays_CustomerTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_CustomerTwoMember_2" xml:lang="en-US" id="label_mays_CustomerTwoMember_2">Tenant Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerTwoMember" xlink:to="label_mays_CustomerTwoMember_2" xlink:title="Label : mays_CustomerTwoMember to label_mays_CustomerTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AociTaxAttributableToParent" xlink:label="us-gaap_AociTaxAttributableToParent" xlink:title="us-gaap_AociTaxAttributableToParent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AociTaxAttributableToParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AociTaxAttributableToParent" xml:lang="en-US" id="label_us-gaap_AociTaxAttributableToParent">AOCI Tax, Attributable to Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AociTaxAttributableToParent" xlink:to="label_us-gaap_AociTaxAttributableToParent" xlink:title="Label : us-gaap_AociTaxAttributableToParent to label_us-gaap_AociTaxAttributableToParent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AociTaxAttributableToParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AociTaxAttributableToParent_1" xml:lang="en-US" id="label_us-gaap_AociTaxAttributableToParent_1">Deferred taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AociTaxAttributableToParent" xlink:to="label_us-gaap_AociTaxAttributableToParent_1" xlink:title="Label : us-gaap_AociTaxAttributableToParent to label_us-gaap_AociTaxAttributableToParent_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_FishkillNewYorkPropertyMember" xlink:label="mays_FishkillNewYorkPropertyMember" xlink:title="mays_FishkillNewYorkPropertyMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_FishkillNewYorkPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_FishkillNewYorkPropertyMember" xml:lang="en-US" id="label_mays_FishkillNewYorkPropertyMember">Fishkill, New York property [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_FishkillNewYorkPropertyMember" xlink:to="label_mays_FishkillNewYorkPropertyMember" xlink:title="Label : mays_FishkillNewYorkPropertyMember to label_mays_FishkillNewYorkPropertyMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_FishkillNewYorkPropertyMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_FishkillNewYorkPropertyMember_1" xml:lang="en-US" id="label_mays_FishkillNewYorkPropertyMember_1">Fishkill, New York Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_FishkillNewYorkPropertyMember" xlink:to="label_mays_FishkillNewYorkPropertyMember_1" xlink:title="Label : mays_FishkillNewYorkPropertyMember to label_mays_FishkillNewYorkPropertyMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:title="dei_CurrentFiscalYearEndDate" />
    <link:label xlink:type="resource" xlink:label="label_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_CurrentFiscalYearEndDate" xml:lang="en-US" id="label_dei_CurrentFiscalYearEndDate">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="label_dei_CurrentFiscalYearEndDate" xlink:title="Label : dei_CurrentFiscalYearEndDate to label_dei_CurrentFiscalYearEndDate" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_BondSt.BuildingBrooklynNYMember" xlink:label="mays_BondSt.BuildingBrooklynNYMember" xlink:title="mays_BondSt.BuildingBrooklynNYMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BondSt.BuildingBrooklynNYMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_BondSt.BuildingBrooklynNYMember" xml:lang="en-US" id="label_mays_BondSt.BuildingBrooklynNYMember">Bond St. building, Brooklyn, NY [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BondSt.BuildingBrooklynNYMember" xlink:to="label_mays_BondSt.BuildingBrooklynNYMember" xlink:title="Label : mays_BondSt.BuildingBrooklynNYMember to label_mays_BondSt.BuildingBrooklynNYMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BondSt.BuildingBrooklynNYMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_BondSt.BuildingBrooklynNYMember_1" xml:lang="en-US" id="label_mays_BondSt.BuildingBrooklynNYMember_1">Bond St. Building, Brooklyn, N Y [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BondSt.BuildingBrooklynNYMember" xlink:to="label_mays_BondSt.BuildingBrooklynNYMember_1" xlink:title="Label : mays_BondSt.BuildingBrooklynNYMember to label_mays_BondSt.BuildingBrooklynNYMember_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_BondSt.BuildingBrooklynNYTwoMember" xlink:label="mays_BondSt.BuildingBrooklynNYTwoMember" xlink:title="mays_BondSt.BuildingBrooklynNYTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BondSt.BuildingBrooklynNYTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_BondSt.BuildingBrooklynNYTwoMember" xml:lang="en-US" id="label_mays_BondSt.BuildingBrooklynNYTwoMember">Represents information pertaining to Bond St. building, Brooklyn, NY two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BondSt.BuildingBrooklynNYTwoMember" xlink:to="label_mays_BondSt.BuildingBrooklynNYTwoMember" xlink:title="Label : mays_BondSt.BuildingBrooklynNYTwoMember to label_mays_BondSt.BuildingBrooklynNYTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BondSt.BuildingBrooklynNYTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_BondSt.BuildingBrooklynNYTwoMember_1" xml:lang="en-US" id="label_mays_BondSt.BuildingBrooklynNYTwoMember_1">Bond St.Building Brooklyn NY Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BondSt.BuildingBrooklynNYTwoMember" xlink:to="label_mays_BondSt.BuildingBrooklynNYTwoMember_1" xlink:title="Label : mays_BondSt.BuildingBrooklynNYTwoMember to label_mays_BondSt.BuildingBrooklynNYTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_BondSt.BuildingBrooklynNYTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_BondSt.BuildingBrooklynNYTwoMember_2" xml:lang="en-US" id="label_mays_BondSt.BuildingBrooklynNYTwoMember_2">Bond St. building, Brooklyn, NY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BondSt.BuildingBrooklynNYTwoMember" xlink:to="label_mays_BondSt.BuildingBrooklynNYTwoMember_2" xlink:title="Label : mays_BondSt.BuildingBrooklynNYTwoMember to label_mays_BondSt.BuildingBrooklynNYTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" xlink:label="mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" xlink:title="mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" xml:lang="en-US" id="label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock">Schedule of Property,Plant and Equipment Construction in Progress [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" xlink:to="label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" xlink:title="Label : mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock to label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock_1" xml:lang="en-US" id="label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock_1">Schedule of property and equipment construction in progress</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock" xlink:to="label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock_1" xlink:title="Label : mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock to label_mays_ScheduleOfPropertyPlantAndEquipmentConstructionInProgressTableTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" xlink:label="mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" xlink:title="mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" xml:lang="en-US" id="label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember">Represents information pertaining to Building improvements at 9 Bond Street in Brooklyn, NY.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" xlink:to="label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" xlink:title="Label : mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember to label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember_1" xml:lang="en-US" id="label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember_1">Building improvements at 9 Bond Street in Brooklyn, NY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember" xlink:to="label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember_1" xlink:title="Label : mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember to label_mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_BuildingImprovementsFishkillNyMember" xlink:label="mays_BuildingImprovementsFishkillNyMember" xlink:title="mays_BuildingImprovementsFishkillNyMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsFishkillNyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_BuildingImprovementsFishkillNyMember" xml:lang="en-US" id="label_mays_BuildingImprovementsFishkillNyMember">Represents information pertaining to Building improvements at Fishkill, NY.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsFishkillNyMember" xlink:to="label_mays_BuildingImprovementsFishkillNyMember" xlink:title="Label : mays_BuildingImprovementsFishkillNyMember to label_mays_BuildingImprovementsFishkillNyMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsFishkillNyMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_BuildingImprovementsFishkillNyMember_1" xml:lang="en-US" id="label_mays_BuildingImprovementsFishkillNyMember_1">Building improvements at Fishkill, NY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsFishkillNyMember" xlink:to="label_mays_BuildingImprovementsFishkillNyMember_1" xlink:title="Label : mays_BuildingImprovementsFishkillNyMember to label_mays_BuildingImprovementsFishkillNyMember_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" xlink:label="mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" xlink:title="mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" xml:lang="en-US" id="label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember">Represents information pertaining to Building improvements at 25 Elm Place in Brooklyn, NY.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" xlink:to="label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" xlink:title="Label : mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember to label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember_1" xml:lang="en-US" id="label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember_1">Building improvements at 25 Elm Place in Brooklyn, NY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember" xlink:to="label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember_1" xlink:title="Label : mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember to label_mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_BuildingImprovementsAtJamaicaNyMember" xlink:label="mays_BuildingImprovementsAtJamaicaNyMember" xlink:title="mays_BuildingImprovementsAtJamaicaNyMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtJamaicaNyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_BuildingImprovementsAtJamaicaNyMember" xml:lang="en-US" id="label_mays_BuildingImprovementsAtJamaicaNyMember">Building improvements at Jamaica, NY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtJamaicaNyMember" xlink:to="label_mays_BuildingImprovementsAtJamaicaNyMember" xlink:title="Label : mays_BuildingImprovementsAtJamaicaNyMember to label_mays_BuildingImprovementsAtJamaicaNyMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtJamaicaNyMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_BuildingImprovementsAtJamaicaNyMember_1" xml:lang="en-US" id="label_mays_BuildingImprovementsAtJamaicaNyMember_1">Building improvements at Jamaica, NY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtJamaicaNyMember" xlink:to="label_mays_BuildingImprovementsAtJamaicaNyMember_1" xlink:title="Label : mays_BuildingImprovementsAtJamaicaNyMember to label_mays_BuildingImprovementsAtJamaicaNyMember_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" xlink:label="mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" xlink:title="mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" />
    <link:label xlink:type="resource" xlink:label="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" xml:lang="en-US" id="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock">Representing minimum percentage of beneficial owned of common stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" xlink:to="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" xlink:title="Label : mays_MinimumPercentageOfBeneficialOwnedOfCommonStock to label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" />
    <link:label xlink:type="resource" xlink:label="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_1" xml:lang="en-US" id="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_1">Minimum Percentage Of Beneficial Owned Of Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" xlink:to="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_1" xlink:title="Label : mays_MinimumPercentageOfBeneficialOwnedOfCommonStock to label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_2" xml:lang="en-US" id="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_2">Minimum percentage of beneficially owned common stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_MinimumPercentageOfBeneficialOwnedOfCommonStock" xlink:to="label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_2" xlink:title="Label : mays_MinimumPercentageOfBeneficialOwnedOfCommonStock to label_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_NotePayableDisclosureTextBlock" xlink:label="mays_NotePayableDisclosureTextBlock" xlink:title="mays_NotePayableDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_NotePayableDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_NotePayableDisclosureTextBlock" xml:lang="en-US" id="label_mays_NotePayableDisclosureTextBlock">The entire disclosure for note payable during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_NotePayableDisclosureTextBlock" xlink:to="label_mays_NotePayableDisclosureTextBlock" xlink:title="Label : mays_NotePayableDisclosureTextBlock to label_mays_NotePayableDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_NotePayableDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_NotePayableDisclosureTextBlock_1" xml:lang="en-US" id="label_mays_NotePayableDisclosureTextBlock_1">Note Payable Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_NotePayableDisclosureTextBlock" xlink:to="label_mays_NotePayableDisclosureTextBlock_1" xlink:title="Label : mays_NotePayableDisclosureTextBlock to label_mays_NotePayableDisclosureTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_NotePayableDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_NotePayableDisclosureTextBlock_2" xml:lang="en-US" id="label_mays_NotePayableDisclosureTextBlock_2">Note Payable - Related Party:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_NotePayableDisclosureTextBlock" xlink:to="label_mays_NotePayableDisclosureTextBlock_2" xlink:title="Label : mays_NotePayableDisclosureTextBlock to label_mays_NotePayableDisclosureTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfLand" xlink:label="us-gaap_AreaOfLand" xlink:title="us-gaap_AreaOfLand" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AreaOfLand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AreaOfLand" xml:lang="en-US" id="label_us-gaap_AreaOfLand">Area of Land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfLand" xlink:to="label_us-gaap_AreaOfLand" xlink:title="Label : us-gaap_AreaOfLand to label_us-gaap_AreaOfLand" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AreaOfLand_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AreaOfLand_1" xml:lang="en-US" id="label_us-gaap_AreaOfLand_1">Office space (in square feet)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfLand" xlink:to="label_us-gaap_AreaOfLand_1" xlink:title="Label : us-gaap_AreaOfLand to label_us-gaap_AreaOfLand_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_UnbilledReceivablesAndRentalIncomeTextBlock" xlink:label="mays_UnbilledReceivablesAndRentalIncomeTextBlock" xlink:title="mays_UnbilledReceivablesAndRentalIncomeTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock" xml:lang="en-US" id="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock">The entire disclosure for unbilled receivables and rental income.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_UnbilledReceivablesAndRentalIncomeTextBlock" xlink:to="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock" xlink:title="Label : mays_UnbilledReceivablesAndRentalIncomeTextBlock to label_mays_UnbilledReceivablesAndRentalIncomeTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_1" xml:lang="en-US" id="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_1">Unbilled Receivables and Rental Income [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_UnbilledReceivablesAndRentalIncomeTextBlock" xlink:to="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_1" xlink:title="Label : mays_UnbilledReceivablesAndRentalIncomeTextBlock to label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_2" xml:lang="en-US" id="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_2">Unbilled Receivables and Rental Income:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_UnbilledReceivablesAndRentalIncomeTextBlock" xlink:to="label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_2" xlink:title="Label : mays_UnbilledReceivablesAndRentalIncomeTextBlock to label_mays_UnbilledReceivablesAndRentalIncomeTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:title="dei_DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentPeriodEndDate" xml:lang="en-US" id="label_dei_DocumentPeriodEndDate">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="label_dei_DocumentPeriodEndDate" xlink:title="Label : dei_DocumentPeriodEndDate to label_dei_DocumentPeriodEndDate" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_PermanentSubordinateMortgageMember" xlink:label="mays_PermanentSubordinateMortgageMember" xlink:title="mays_PermanentSubordinateMortgageMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_PermanentSubordinateMortgageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_PermanentSubordinateMortgageMember" xml:lang="en-US" id="label_mays_PermanentSubordinateMortgageMember">Permanent Subordinate Mortgage [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PermanentSubordinateMortgageMember" xlink:to="label_mays_PermanentSubordinateMortgageMember" xlink:title="Label : mays_PermanentSubordinateMortgageMember to label_mays_PermanentSubordinateMortgageMember" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_MultipleSuccessivelySubordinateLoansMember" xlink:label="mays_MultipleSuccessivelySubordinateLoansMember" xlink:title="mays_MultipleSuccessivelySubordinateLoansMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_MultipleSuccessivelySubordinateLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_MultipleSuccessivelySubordinateLoansMember" xml:lang="en-US" id="label_mays_MultipleSuccessivelySubordinateLoansMember">Multiple Successively Subordinate Loans [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_MultipleSuccessivelySubordinateLoansMember" xlink:to="label_mays_MultipleSuccessivelySubordinateLoansMember" xlink:title="Label : mays_MultipleSuccessivelySubordinateLoansMember to label_mays_MultipleSuccessivelySubordinateLoansMember" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_OtherAssetsDeferredCharges" xlink:label="mays_OtherAssetsDeferredCharges" xlink:title="mays_OtherAssetsDeferredCharges" />
    <link:label xlink:type="resource" xlink:label="label_mays_OtherAssetsDeferredCharges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_OtherAssetsDeferredCharges" xml:lang="en-US" id="label_mays_OtherAssetsDeferredCharges">Amount of other assets deferred charges during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_OtherAssetsDeferredCharges" xlink:to="label_mays_OtherAssetsDeferredCharges" xlink:title="Label : mays_OtherAssetsDeferredCharges to label_mays_OtherAssetsDeferredCharges" />
    <link:label xlink:type="resource" xlink:label="label_mays_OtherAssetsDeferredCharges_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_OtherAssetsDeferredCharges_1" xml:lang="en-US" id="label_mays_OtherAssetsDeferredCharges_1">Other Assets Deferred Charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_OtherAssetsDeferredCharges" xlink:to="label_mays_OtherAssetsDeferredCharges_1" xlink:title="Label : mays_OtherAssetsDeferredCharges to label_mays_OtherAssetsDeferredCharges_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_OtherAssetsDeferredCharges_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_OtherAssetsDeferredCharges_2" xml:lang="en-US" id="label_mays_OtherAssetsDeferredCharges_2">- deferred charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_OtherAssetsDeferredCharges" xlink:to="label_mays_OtherAssetsDeferredCharges_2" xlink:title="Label : mays_OtherAssetsDeferredCharges to label_mays_OtherAssetsDeferredCharges_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" xlink:label="mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" xlink:title="mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" xml:lang="en-US" id="label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities">Increase Decrease In Payroll and Other Accrued Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" xlink:to="label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" xlink:title="Label : mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities to label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities_1" xml:lang="en-US" id="label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities_1">Payroll and other accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities" xlink:to="label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities_1" xlink:title="Label : mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities to label_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_IncreaseDecreaseInOtherTaxesPayable" xlink:label="mays_IncreaseDecreaseInOtherTaxesPayable" xlink:title="mays_IncreaseDecreaseInOtherTaxesPayable" />
    <link:label xlink:type="resource" xlink:label="label_mays_IncreaseDecreaseInOtherTaxesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_IncreaseDecreaseInOtherTaxesPayable" xml:lang="en-US" id="label_mays_IncreaseDecreaseInOtherTaxesPayable">Increase Decrease In Other Taxes Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_IncreaseDecreaseInOtherTaxesPayable" xlink:to="label_mays_IncreaseDecreaseInOtherTaxesPayable" xlink:title="Label : mays_IncreaseDecreaseInOtherTaxesPayable to label_mays_IncreaseDecreaseInOtherTaxesPayable" />
    <link:label xlink:type="resource" xlink:label="label_mays_IncreaseDecreaseInOtherTaxesPayable_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_IncreaseDecreaseInOtherTaxesPayable_1" xml:lang="en-US" id="label_mays_IncreaseDecreaseInOtherTaxesPayable_1">Other taxes payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_IncreaseDecreaseInOtherTaxesPayable" xlink:to="label_mays_IncreaseDecreaseInOtherTaxesPayable_1" xlink:title="Label : mays_IncreaseDecreaseInOtherTaxesPayable to label_mays_IncreaseDecreaseInOtherTaxesPayable_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_PaymentsToSecurityDeposits" xlink:label="mays_PaymentsToSecurityDeposits" xlink:title="mays_PaymentsToSecurityDeposits" />
    <link:label xlink:type="resource" xlink:label="label_mays_PaymentsToSecurityDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_PaymentsToSecurityDeposits" xml:lang="en-US" id="label_mays_PaymentsToSecurityDeposits">The cash outflow for security deposits during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PaymentsToSecurityDeposits" xlink:to="label_mays_PaymentsToSecurityDeposits" xlink:title="Label : mays_PaymentsToSecurityDeposits to label_mays_PaymentsToSecurityDeposits" />
    <link:label xlink:type="resource" xlink:label="label_mays_PaymentsToSecurityDeposits_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_PaymentsToSecurityDeposits_1" xml:lang="en-US" id="label_mays_PaymentsToSecurityDeposits_1">Payments To Security Deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PaymentsToSecurityDeposits" xlink:to="label_mays_PaymentsToSecurityDeposits_1" xlink:title="Label : mays_PaymentsToSecurityDeposits to label_mays_PaymentsToSecurityDeposits_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_PaymentsToSecurityDeposits_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_mays_PaymentsToSecurityDeposits_2" xml:lang="en-US" id="label_mays_PaymentsToSecurityDeposits_2">Security deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PaymentsToSecurityDeposits" xlink:to="label_mays_PaymentsToSecurityDeposits_2" xlink:title="Label : mays_PaymentsToSecurityDeposits to label_mays_PaymentsToSecurityDeposits_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_AccumulatedOtherComprehensiveIncomeAbstract" xlink:label="mays_AccumulatedOtherComprehensiveIncomeAbstract" xlink:title="mays_AccumulatedOtherComprehensiveIncomeAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_AccumulatedOtherComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_AccumulatedOtherComprehensiveIncomeAbstract" xml:lang="en-US" id="label_mays_AccumulatedOtherComprehensiveIncomeAbstract">Accumulated Other Comprehensive Income [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AccumulatedOtherComprehensiveIncomeAbstract" xlink:to="label_mays_AccumulatedOtherComprehensiveIncomeAbstract" xlink:title="Label : mays_AccumulatedOtherComprehensiveIncomeAbstract to label_mays_AccumulatedOtherComprehensiveIncomeAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_AccumulatedOtherComprehensiveIncomeAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_AccumulatedOtherComprehensiveIncomeAbstract_1" xml:lang="en-US" id="label_mays_AccumulatedOtherComprehensiveIncomeAbstract_1">Accumulated Other Comprehensive Income: [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AccumulatedOtherComprehensiveIncomeAbstract" xlink:to="label_mays_AccumulatedOtherComprehensiveIncomeAbstract_1" xlink:title="Label : mays_AccumulatedOtherComprehensiveIncomeAbstract to label_mays_AccumulatedOtherComprehensiveIncomeAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_AdditionalMortgageLoansForCapitalImprovements" xlink:label="mays_AdditionalMortgageLoansForCapitalImprovements" xlink:title="mays_AdditionalMortgageLoansForCapitalImprovements" />
    <link:label xlink:type="resource" xlink:label="label_mays_AdditionalMortgageLoansForCapitalImprovements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_AdditionalMortgageLoansForCapitalImprovements" xml:lang="en-US" id="label_mays_AdditionalMortgageLoansForCapitalImprovements">The value for additional mortgage loan for capital improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AdditionalMortgageLoansForCapitalImprovements" xlink:to="label_mays_AdditionalMortgageLoansForCapitalImprovements" xlink:title="Label : mays_AdditionalMortgageLoansForCapitalImprovements to label_mays_AdditionalMortgageLoansForCapitalImprovements" />
    <link:label xlink:type="resource" xlink:label="label_mays_AdditionalMortgageLoansForCapitalImprovements_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_AdditionalMortgageLoansForCapitalImprovements_1" xml:lang="en-US" id="label_mays_AdditionalMortgageLoansForCapitalImprovements_1">Additional Mortgage Loans For Capital Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AdditionalMortgageLoansForCapitalImprovements" xlink:to="label_mays_AdditionalMortgageLoansForCapitalImprovements_1" xlink:title="Label : mays_AdditionalMortgageLoansForCapitalImprovements to label_mays_AdditionalMortgageLoansForCapitalImprovements_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_AdditionalMortgageLoansForCapitalImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_AdditionalMortgageLoansForCapitalImprovements_2" xml:lang="en-US" id="label_mays_AdditionalMortgageLoansForCapitalImprovements_2">Additional borrowing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AdditionalMortgageLoansForCapitalImprovements" xlink:to="label_mays_AdditionalMortgageLoansForCapitalImprovements_2" xlink:title="Label : mays_AdditionalMortgageLoansForCapitalImprovements to label_mays_AdditionalMortgageLoansForCapitalImprovements_2" />
    <link:label xlink:type="resource" xlink:label="label_mays_AdditionalMortgageLoansForCapitalImprovements_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_AdditionalMortgageLoansForCapitalImprovements_3" xml:lang="en-US" id="label_mays_AdditionalMortgageLoansForCapitalImprovements_3">Additional loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_AdditionalMortgageLoansForCapitalImprovements" xlink:to="label_mays_AdditionalMortgageLoansForCapitalImprovements_3" xlink:title="Label : mays_AdditionalMortgageLoansForCapitalImprovements to label_mays_AdditionalMortgageLoansForCapitalImprovements_3" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_CollateralizedDebt" xlink:label="mays_CollateralizedDebt" xlink:title="mays_CollateralizedDebt" />
    <link:label xlink:type="resource" xlink:label="label_mays_CollateralizedDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_CollateralizedDebt" xml:lang="en-US" id="label_mays_CollateralizedDebt">Amount of collateralized debt as of the reporting date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CollateralizedDebt" xlink:to="label_mays_CollateralizedDebt" xlink:title="Label : mays_CollateralizedDebt to label_mays_CollateralizedDebt" />
    <link:label xlink:type="resource" xlink:label="label_mays_CollateralizedDebt_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_CollateralizedDebt_1" xml:lang="en-US" id="label_mays_CollateralizedDebt_1">Collateralized Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CollateralizedDebt" xlink:to="label_mays_CollateralizedDebt_1" xlink:title="Label : mays_CollateralizedDebt to label_mays_CollateralizedDebt_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_ConstructionOfTwoNewElevatorsMember" xlink:label="mays_ConstructionOfTwoNewElevatorsMember" xlink:title="mays_ConstructionOfTwoNewElevatorsMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_ConstructionOfTwoNewElevatorsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_ConstructionOfTwoNewElevatorsMember" xml:lang="en-US" id="label_mays_ConstructionOfTwoNewElevatorsMember">Construction Of Two New Elevators [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_ConstructionOfTwoNewElevatorsMember" xlink:to="label_mays_ConstructionOfTwoNewElevatorsMember" xlink:title="Label : mays_ConstructionOfTwoNewElevatorsMember to label_mays_ConstructionOfTwoNewElevatorsMember" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_CurrentMember" xlink:label="mays_CurrentMember" xlink:title="mays_CurrentMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_CurrentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_CurrentMember" xml:lang="en-US" id="label_mays_CurrentMember">Current [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CurrentMember" xlink:to="label_mays_CurrentMember" xlink:title="Label : mays_CurrentMember to label_mays_CurrentMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_CurrentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_CurrentMember_1" xml:lang="en-US" id="label_mays_CurrentMember_1">Current [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CurrentMember" xlink:to="label_mays_CurrentMember_1" xlink:title="Label : mays_CurrentMember to label_mays_CurrentMember_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_CustomerThreeMember" xlink:label="mays_CustomerThreeMember" xlink:title="mays_CustomerThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_CustomerThreeMember" xml:lang="en-US" id="label_mays_CustomerThreeMember">Customer Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerThreeMember" xlink:to="label_mays_CustomerThreeMember" xlink:title="Label : mays_CustomerThreeMember to label_mays_CustomerThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_CustomerThreeMember_1" xml:lang="en-US" id="label_mays_CustomerThreeMember_1">Customer Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerThreeMember" xlink:to="label_mays_CustomerThreeMember_1" xlink:title="Label : mays_CustomerThreeMember to label_mays_CustomerThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_CustomerThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_CustomerThreeMember_2" xml:lang="en-US" id="label_mays_CustomerThreeMember_2">Tenant Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_CustomerThreeMember" xlink:to="label_mays_CustomerThreeMember_2" xlink:title="Label : mays_CustomerThreeMember to label_mays_CustomerThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:title="dei_TradingSymbol" />
    <link:label xlink:type="resource" xlink:label="label_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_TradingSymbol" xml:lang="en-US" id="label_dei_TradingSymbol">Trading Symbol</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="label_dei_TradingSymbol" xlink:title="Label : dei_TradingSymbol to label_dei_TradingSymbol" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_DisposalOfFullyDepreciatedPropertyAndEquipment" xlink:label="mays_DisposalOfFullyDepreciatedPropertyAndEquipment" xlink:title="mays_DisposalOfFullyDepreciatedPropertyAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment" xml:lang="en-US" id="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment">The amount of disposal of fully depreciated property and equipment in non-cash investing or financing activities during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_DisposalOfFullyDepreciatedPropertyAndEquipment" xlink:to="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment" xlink:title="Label : mays_DisposalOfFullyDepreciatedPropertyAndEquipment to label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_1" xml:lang="en-US" id="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_1">Disposal Of Fully Depreciated Property and Equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_DisposalOfFullyDepreciatedPropertyAndEquipment" xlink:to="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_1" xlink:title="Label : mays_DisposalOfFullyDepreciatedPropertyAndEquipment to label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_2" xml:lang="en-US" id="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_2">Non-cash investing and financing activities - disposal of fully depreciated property and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_DisposalOfFullyDepreciatedPropertyAndEquipment" xlink:to="label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_2" xlink:title="Label : mays_DisposalOfFullyDepreciatedPropertyAndEquipment to label_mays_DisposalOfFullyDepreciatedPropertyAndEquipment_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_DocumentAndEntityInformationAbstract" xlink:label="mays_DocumentAndEntityInformationAbstract" xlink:title="mays_DocumentAndEntityInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_DocumentAndEntityInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_DocumentAndEntityInformationAbstract" xml:lang="en-US" id="label_mays_DocumentAndEntityInformationAbstract">DOCUMENT AND ENTITY INFORMATION</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_DocumentAndEntityInformationAbstract" xlink:to="label_mays_DocumentAndEntityInformationAbstract" xlink:title="Label : mays_DocumentAndEntityInformationAbstract to label_mays_DocumentAndEntityInformationAbstract" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_EntryIntoMaterialDefinitiveAgreementAbstract" xlink:label="mays_EntryIntoMaterialDefinitiveAgreementAbstract" xlink:title="mays_EntryIntoMaterialDefinitiveAgreementAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_EntryIntoMaterialDefinitiveAgreementAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_EntryIntoMaterialDefinitiveAgreementAbstract" xml:lang="en-US" id="label_mays_EntryIntoMaterialDefinitiveAgreementAbstract">ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_EntryIntoMaterialDefinitiveAgreementAbstract" xlink:to="label_mays_EntryIntoMaterialDefinitiveAgreementAbstract" xlink:title="Label : mays_EntryIntoMaterialDefinitiveAgreementAbstract to label_mays_EntryIntoMaterialDefinitiveAgreementAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_EntryIntoMaterialDefinitiveAgreementAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_EntryIntoMaterialDefinitiveAgreementAbstract_1" xml:lang="en-US" id="label_mays_EntryIntoMaterialDefinitiveAgreementAbstract_1">Entry into a Material Definitive Agreement [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_EntryIntoMaterialDefinitiveAgreementAbstract" xlink:to="label_mays_EntryIntoMaterialDefinitiveAgreementAbstract_1" xlink:title="Label : mays_EntryIntoMaterialDefinitiveAgreementAbstract to label_mays_EntryIntoMaterialDefinitiveAgreementAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" xlink:label="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" xlink:title="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" xml:lang="en-US" id="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract">Financial Instruments and Credit Risk Concentrations: [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" xlink:to="label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" xlink:title="Label : mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract to label_mays_FinancialInstrumentsAndCreditRiskConcentrationsDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:title="dei_EntityWellKnownSeasonedIssuer" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityWellKnownSeasonedIssuer" xml:lang="en-US" id="label_dei_EntityWellKnownSeasonedIssuer">Entity Well-Known Seasoned Issuer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="label_dei_EntityWellKnownSeasonedIssuer" xlink:title="Label : dei_EntityWellKnownSeasonedIssuer to label_dei_EntityWellKnownSeasonedIssuer" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_IncreaseDecreaseInUnbilledReceivableBadDebts" xlink:label="mays_IncreaseDecreaseInUnbilledReceivableBadDebts" xlink:title="mays_IncreaseDecreaseInUnbilledReceivableBadDebts" />
    <link:label xlink:type="resource" xlink:label="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts" xml:lang="en-US" id="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts">Increase Decrease In Unbilled Receivable Bad Debts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_IncreaseDecreaseInUnbilledReceivableBadDebts" xlink:to="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts" xlink:title="Label : mays_IncreaseDecreaseInUnbilledReceivableBadDebts to label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts" />
    <link:label xlink:type="resource" xlink:label="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_1" xml:lang="en-US" id="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_1">Increase Decrease In Unbilled Receivable Bad Debts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_IncreaseDecreaseInUnbilledReceivableBadDebts" xlink:to="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_1" xlink:title="Label : mays_IncreaseDecreaseInUnbilledReceivableBadDebts to label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_2" xml:lang="en-US" id="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_2">- unbilled receivable - bad debts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_IncreaseDecreaseInUnbilledReceivableBadDebts" xlink:to="label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_2" xlink:title="Label : mays_IncreaseDecreaseInUnbilledReceivableBadDebts to label_mays_IncreaseDecreaseInUnbilledReceivableBadDebts_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:title="dei_EntityVoluntaryFilers" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityVoluntaryFilers" xml:lang="en-US" id="label_dei_EntityVoluntaryFilers">Entity Voluntary Filers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="label_dei_EntityVoluntaryFilers" xlink:title="Label : dei_EntityVoluntaryFilers to label_dei_EntityVoluntaryFilers" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:title="dei_EntityCurrentReportingStatus" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCurrentReportingStatus" xml:lang="en-US" id="label_dei_EntityCurrentReportingStatus">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="label_dei_EntityCurrentReportingStatus" xlink:title="Label : dei_EntityCurrentReportingStatus to label_dei_EntityCurrentReportingStatus" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_InvestmentFiveMember" xlink:label="mays_InvestmentFiveMember" xlink:title="mays_InvestmentFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_InvestmentFiveMember" xml:lang="en-US" id="label_mays_InvestmentFiveMember">Investment Five [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentFiveMember" xlink:to="label_mays_InvestmentFiveMember" xlink:title="Label : mays_InvestmentFiveMember to label_mays_InvestmentFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentFiveMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_InvestmentFiveMember_1" xml:lang="en-US" id="label_mays_InvestmentFiveMember_1">Investment Five [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentFiveMember" xlink:to="label_mays_InvestmentFiveMember_1" xlink:title="Label : mays_InvestmentFiveMember to label_mays_InvestmentFiveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentFiveMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_InvestmentFiveMember_2" xml:lang="en-US" id="label_mays_InvestmentFiveMember_2">Permanent Portfolio Inc. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentFiveMember" xlink:to="label_mays_InvestmentFiveMember_2" xlink:title="Label : mays_InvestmentFiveMember to label_mays_InvestmentFiveMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:title="dei_EntityFilerCategory" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityFilerCategory" xml:lang="en-US" id="label_dei_EntityFilerCategory">Entity Filer Category</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="label_dei_EntityFilerCategory" xlink:title="Label : dei_EntityFilerCategory to label_dei_EntityFilerCategory" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_InvestmentIncomeAndInterestExpensesAbstract" xlink:label="mays_InvestmentIncomeAndInterestExpensesAbstract" xlink:title="mays_InvestmentIncomeAndInterestExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentIncomeAndInterestExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_InvestmentIncomeAndInterestExpensesAbstract" xml:lang="en-US" id="label_mays_InvestmentIncomeAndInterestExpensesAbstract">Investment Income and Interest Expenses [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentIncomeAndInterestExpensesAbstract" xlink:to="label_mays_InvestmentIncomeAndInterestExpensesAbstract" xlink:title="Label : mays_InvestmentIncomeAndInterestExpensesAbstract to label_mays_InvestmentIncomeAndInterestExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_InvestmentIncomeAndInterestExpensesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_InvestmentIncomeAndInterestExpensesAbstract_1" xml:lang="en-US" id="label_mays_InvestmentIncomeAndInterestExpensesAbstract_1">Investment income and interest expense:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_InvestmentIncomeAndInterestExpensesAbstract" xlink:to="label_mays_InvestmentIncomeAndInterestExpensesAbstract_1" xlink:title="Label : mays_InvestmentIncomeAndInterestExpensesAbstract to label_mays_InvestmentIncomeAndInterestExpensesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" xlink:title="dei_EntityPublicFloat" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityPublicFloat" xml:lang="en-US" id="label_dei_EntityPublicFloat">Entity Public Float</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="label_dei_EntityPublicFloat" xlink:title="Label : dei_EntityPublicFloat to label_dei_EntityPublicFloat" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:title="dei_EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityRegistrantName" xml:lang="en-US" id="label_dei_EntityRegistrantName">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="label_dei_EntityRegistrantName" xlink:title="Label : dei_EntityRegistrantName to label_dei_EntityRegistrantName" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:title="dei_EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCentralIndexKey" xml:lang="en-US" id="label_dei_EntityCentralIndexKey">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="label_dei_EntityCentralIndexKey" xlink:title="Label : dei_EntityCentralIndexKey to label_dei_EntityCentralIndexKey" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_LongTermDebtRefinancedAmount" xlink:label="mays_LongTermDebtRefinancedAmount" xlink:title="mays_LongTermDebtRefinancedAmount" />
    <link:label xlink:type="resource" xlink:label="label_mays_LongTermDebtRefinancedAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_LongTermDebtRefinancedAmount" xml:lang="en-US" id="label_mays_LongTermDebtRefinancedAmount">Representing long term debt refinanced amount.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_LongTermDebtRefinancedAmount" xlink:to="label_mays_LongTermDebtRefinancedAmount" xlink:title="Label : mays_LongTermDebtRefinancedAmount to label_mays_LongTermDebtRefinancedAmount" />
    <link:label xlink:type="resource" xlink:label="label_mays_LongTermDebtRefinancedAmount_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_LongTermDebtRefinancedAmount_1" xml:lang="en-US" id="label_mays_LongTermDebtRefinancedAmount_1">Long Term Debt Refinanced Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_LongTermDebtRefinancedAmount" xlink:to="label_mays_LongTermDebtRefinancedAmount_1" xlink:title="Label : mays_LongTermDebtRefinancedAmount to label_mays_LongTermDebtRefinancedAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_LongTermDebtRefinancedAmount_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_LongTermDebtRefinancedAmount_2" xml:lang="en-US" id="label_mays_LongTermDebtRefinancedAmount_2">Refinanced amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_LongTermDebtRefinancedAmount" xlink:to="label_mays_LongTermDebtRefinancedAmount_2" xlink:title="Label : mays_LongTermDebtRefinancedAmount to label_mays_LongTermDebtRefinancedAmount_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:title="dei_EntityCommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US" id="label_dei_EntityCommonStockSharesOutstanding">Entity Common Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="label_dei_EntityCommonStockSharesOutstanding" xlink:title="Label : dei_EntityCommonStockSharesOutstanding to label_dei_EntityCommonStockSharesOutstanding" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" xlink:label="mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" xlink:title="mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" xml:lang="en-US" id="label_mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract">Long-Term Debt - Mortgage: [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" xlink:to="label_mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" xlink:title="Label : mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract to label_mays_MortgagesAndTermLoanLongTermDebtDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:title="dei_DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentFiscalYearFocus" xml:lang="en-US" id="label_dei_DocumentFiscalYearFocus">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="label_dei_DocumentFiscalYearFocus" xlink:title="Label : dei_DocumentFiscalYearFocus to label_dei_DocumentFiscalYearFocus" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:title="dei_DocumentFiscalPeriodFocus" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentFiscalPeriodFocus" xml:lang="en-US" id="label_dei_DocumentFiscalPeriodFocus">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="label_dei_DocumentFiscalPeriodFocus" xlink:title="Label : dei_DocumentFiscalPeriodFocus to label_dei_DocumentFiscalPeriodFocus" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" xlink:label="mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" xlink:title="mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" />
    <link:label xlink:type="resource" xlink:label="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" xml:lang="en-US" id="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent">Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to payroll taxes received from employees. Used to reflect the current portion of the liabilities (due beyond one year or one operating cycle). Also includes the obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due beyond one year or one operating cycle).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" xlink:to="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" xlink:title="Label : mays_PayrollAndOtherAccruedLiabilitiesNonCurrent to label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" />
    <link:label xlink:type="resource" xlink:label="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_1" xml:lang="en-US" id="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_1">Payroll and Other Accrued Liabilities Non Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" xlink:to="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_1" xlink:title="Label : mays_PayrollAndOtherAccruedLiabilitiesNonCurrent to label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_2" xml:lang="en-US" id="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_2">Payroll and other accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_PayrollAndOtherAccruedLiabilitiesNonCurrent" xlink:to="label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_2" xlink:title="Label : mays_PayrollAndOtherAccruedLiabilitiesNonCurrent to label_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:title="dei_DocumentType" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentType" xml:lang="en-US" id="label_dei_DocumentType">Document Type</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="label_dei_DocumentType" xlink:title="Label : dei_DocumentType to label_dei_DocumentType" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_UnbilledReceivablesMember" xlink:label="mays_UnbilledReceivablesMember" xlink:title="mays_UnbilledReceivablesMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_UnbilledReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_UnbilledReceivablesMember" xml:lang="en-US" id="label_mays_UnbilledReceivablesMember">Unbilled Receivables [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_UnbilledReceivablesMember" xlink:to="label_mays_UnbilledReceivablesMember" xlink:title="Label : mays_UnbilledReceivablesMember to label_mays_UnbilledReceivablesMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_UnbilledReceivablesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_UnbilledReceivablesMember_1" xml:lang="en-US" id="label_mays_UnbilledReceivablesMember_1">Unbilled Receivables [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_UnbilledReceivablesMember" xlink:to="label_mays_UnbilledReceivablesMember_1" xlink:title="Label : mays_UnbilledReceivablesMember to label_mays_UnbilledReceivablesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_UnbilledReceivablesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_UnbilledReceivablesMember_2" xml:lang="en-US" id="label_mays_UnbilledReceivablesMember_2">Unbilled receivables [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_UnbilledReceivablesMember" xlink:to="label_mays_UnbilledReceivablesMember_2" xlink:title="Label : mays_UnbilledReceivablesMember to label_mays_UnbilledReceivablesMember_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_UnbilledReceivablesAndRentalIncomeAbstract" xlink:label="mays_UnbilledReceivablesAndRentalIncomeAbstract" xlink:title="mays_UnbilledReceivablesAndRentalIncomeAbstract" />
    <link:label xlink:type="resource" xlink:label="label_mays_UnbilledReceivablesAndRentalIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_UnbilledReceivablesAndRentalIncomeAbstract" xml:lang="en-US" id="label_mays_UnbilledReceivablesAndRentalIncomeAbstract">Unbilled Receivables and Rental Income: [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_UnbilledReceivablesAndRentalIncomeAbstract" xlink:to="label_mays_UnbilledReceivablesAndRentalIncomeAbstract" xlink:title="Label : mays_UnbilledReceivablesAndRentalIncomeAbstract to label_mays_UnbilledReceivablesAndRentalIncomeAbstract" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" xlink:label="mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" xlink:title="mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" xml:lang="en-US" id="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember">Represents information pertaining to Building improvements at Jowein building in Brooklyn, NY.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" xlink:to="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" xlink:title="Label : mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember to label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_1" xml:lang="en-US" id="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_1">Building Improvements at Jowein Building in Brooklyn New York [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" xlink:to="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_1" xlink:title="Label : mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember to label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_2" xml:lang="en-US" id="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_2">Building improvements at Jowein building in Brooklyn, NY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember" xlink:to="label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_2" xlink:title="Label : mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember to label_mays_BuildingImprovementsAtJoweinBuildingInBrooklynNewYorkMember_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_TermOfLease" xlink:label="mays_TermOfLease" xlink:title="mays_TermOfLease" />
    <link:label xlink:type="resource" xlink:label="label_mays_TermOfLease" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_TermOfLease" xml:lang="en-US" id="label_mays_TermOfLease">Represents the term period of lease agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_TermOfLease" xlink:to="label_mays_TermOfLease" xlink:title="Label : mays_TermOfLease to label_mays_TermOfLease" />
    <link:label xlink:type="resource" xlink:label="label_mays_TermOfLease_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_TermOfLease_1" xml:lang="en-US" id="label_mays_TermOfLease_1">Term of Lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_TermOfLease" xlink:to="label_mays_TermOfLease_1" xlink:title="Label : mays_TermOfLease to label_mays_TermOfLease_1" />
    <link:label xlink:type="resource" xlink:label="label_mays_TermOfLease_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_mays_TermOfLease_2" xml:lang="en-US" id="label_mays_TermOfLease_2">Term of lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_TermOfLease" xlink:to="label_mays_TermOfLease_2" xlink:title="Label : mays_TermOfLease to label_mays_TermOfLease_2" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_RelatedPartyNotePayableMember" xlink:label="mays_RelatedPartyNotePayableMember" xlink:title="mays_RelatedPartyNotePayableMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_RelatedPartyNotePayableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_RelatedPartyNotePayableMember" xml:lang="en-US" id="label_mays_RelatedPartyNotePayableMember">Related Party Note Payable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_RelatedPartyNotePayableMember" xlink:to="label_mays_RelatedPartyNotePayableMember" xlink:title="Label : mays_RelatedPartyNotePayableMember to label_mays_RelatedPartyNotePayableMember" />
    <link:label xlink:type="resource" xlink:label="label_mays_RelatedPartyNotePayableMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_RelatedPartyNotePayableMember_1" xml:lang="en-US" id="label_mays_RelatedPartyNotePayableMember_1">Related Party Note Payable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_RelatedPartyNotePayableMember" xlink:to="label_mays_RelatedPartyNotePayableMember_1" xlink:title="Label : mays_RelatedPartyNotePayableMember to label_mays_RelatedPartyNotePayableMember_1" />
    <link:loc xlink:type="locator" xlink:href="mays-20160131.xsd#mays_NetOperatingLossUtilized" xlink:label="mays_NetOperatingLossUtilized" xlink:title="mays_NetOperatingLossUtilized" />
    <link:label xlink:type="resource" xlink:label="label_mays_NetOperatingLossUtilized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_mays_NetOperatingLossUtilized" xml:lang="en-US" id="label_mays_NetOperatingLossUtilized">Net Operating Loss Utilized.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_NetOperatingLossUtilized" xlink:to="label_mays_NetOperatingLossUtilized" xlink:title="Label : mays_NetOperatingLossUtilized to label_mays_NetOperatingLossUtilized" />
    <link:label xlink:type="resource" xlink:label="label_mays_NetOperatingLossUtilized_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_mays_NetOperatingLossUtilized_1" xml:lang="en-US" id="label_mays_NetOperatingLossUtilized_1">Net Operating Loss Utilized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mays_NetOperatingLossUtilized" xlink:to="label_mays_NetOperatingLossUtilized_1" xlink:title="Label : mays_NetOperatingLossUtilized to label_mays_NetOperatingLossUtilized_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:to="label_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_2" xlink:title="Label : us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax to label_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_2" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_3" xml:lang="en-US" id="label_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_3">Unrealized gain on available-for-sale securities - net of deferred taxes of $73,000 at January 31, 2016 and $101,000 at July 31, 2015</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:title="us-gaap_AdditionalPaidInCapitalCommonStock" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="label_us-gaap_AdditionalPaidInCapitalCommonStock_1" xlink:title="Label : us-gaap_AdditionalPaidInCapitalCommonStock to label_us-gaap_AdditionalPaidInCapitalCommonStock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="label_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="Label : us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to label_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfDeferredCharges" xlink:label="us-gaap_AmortizationOfDeferredCharges" xlink:title="us-gaap_AmortizationOfDeferredCharges" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDeferredCharges" xlink:to="label_us-gaap_AmortizationOfDeferredCharges" xlink:title="Label : us-gaap_AmortizationOfDeferredCharges to label_us-gaap_AmortizationOfDeferredCharges" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDeferredCharges" xlink:to="label_us-gaap_AmortizationOfDeferredCharges_1" xlink:title="Label : us-gaap_AmortizationOfDeferredCharges to label_us-gaap_AmortizationOfDeferredCharges_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDeferredCharges" xlink:to="label_us-gaap_AmortizationOfDeferredCharges_2" xlink:title="Label : us-gaap_AmortizationOfDeferredCharges to label_us-gaap_AmortizationOfDeferredCharges_2" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetsAbstract" xml:lang="en-US" id="label_us-gaap_AssetsAbstract">Assets [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_AssetsAbstract_1" xml:lang="en-US" id="label_us-gaap_AssetsAbstract_1">ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="label_us-gaap_AssetsAbstract_1" xlink:title="Label : us-gaap_AssetsAbstract to label_us-gaap_AssetsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xlink:title="us-gaap_Assets" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_Assets" xml:lang="en-US" id="label_us-gaap_Assets">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="label_us-gaap_Assets" xlink:title="Label : us-gaap_Assets to label_us-gaap_Assets" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Assets_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_Assets_1" xml:lang="en-US" id="label_us-gaap_Assets_1">TOTAL ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="label_us-gaap_Assets_1" xlink:title="Label : us-gaap_Assets to label_us-gaap_Assets_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Assets_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_Assets_2" xml:lang="en-US" id="label_us-gaap_Assets_2">TOTAL ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="label_us-gaap_Assets_2" xlink:title="Label : us-gaap_Assets to label_us-gaap_Assets_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment" xlink:to="label_us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment" xlink:title="Label : us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment to label_us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment_1" xml:lang="en-US" id="label_us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment_1">Total other assets</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetsCurrent" xml:lang="en-US" id="label_us-gaap_AssetsCurrent">Assets, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="label_us-gaap_AssetsCurrent" xlink:title="Label : us-gaap_AssetsCurrent to label_us-gaap_AssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsCurrent_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_AssetsCurrent_1" xml:lang="en-US" id="label_us-gaap_AssetsCurrent_1">Total current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="label_us-gaap_AssetsCurrent_1" xlink:title="Label : us-gaap_AssetsCurrent to label_us-gaap_AssetsCurrent_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsCurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetsCurrentAbstract" xml:lang="en-US" id="label_us-gaap_AssetsCurrentAbstract">Assets, Current [Abstract]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1">Cash and Cash Equivalents, At Carrying Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2">Cash and cash equivalents at end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3">Cash and cash equivalents at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_4" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_4">Cash and cash equivalents (Note 4)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_4" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue_4" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">Cash and Cash Equivalents, Period Increase (Decrease)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:title="Label : us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease to label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1">Increase in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1" xlink:title="Label : us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease to label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:title="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xml:lang="en-US" id="label_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="label_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:title="Label : us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract to label_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_1" xml:lang="en-US" id="label_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_1">Non-cash investing and financing activities:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:label="us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:title="us-gaap_CashFlowSupplementalDisclosuresTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CashFlowSupplementalDisclosuresTextBlock" xml:lang="en-US" id="label_us-gaap_CashFlowSupplementalDisclosuresTextBlock">Cash Flow, Supplemental Disclosures [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:to="label_us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:title="Label : us-gaap_CashFlowSupplementalDisclosuresTextBlock to label_us-gaap_CashFlowSupplementalDisclosuresTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashFlowSupplementalDisclosuresTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CashFlowSupplementalDisclosuresTextBlock_1" xml:lang="en-US" id="label_us-gaap_CashFlowSupplementalDisclosuresTextBlock_1">Cash Flow Information:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:to="label_us-gaap_CashFlowSupplementalDisclosuresTextBlock_1" xlink:title="Label : us-gaap_CashFlowSupplementalDisclosuresTextBlock to label_us-gaap_CashFlowSupplementalDisclosuresTextBlock_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommitmentsAndContingencies" xml:lang="en-US" id="label_us-gaap_CommitmentsAndContingencies">Commitments and Contingencies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="label_us-gaap_CommitmentsAndContingencies" xlink:title="Label : us-gaap_CommitmentsAndContingencies to label_us-gaap_CommitmentsAndContingencies" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommitmentsAndContingencies_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CommitmentsAndContingencies_1" xml:lang="en-US" id="label_us-gaap_CommitmentsAndContingencies_1">Contingencies (Note 14)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_1">Contingencies:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:title="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xml:lang="en-US" id="label_us-gaap_CommitmentsAndContingenciesDisclosureAbstract">Contingencies: [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="label_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:title="Label : us-gaap_CommitmentsAndContingenciesDisclosureAbstract to label_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" xlink:title="us-gaap_CommonStockValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommonStockValue" xml:lang="en-US" id="label_us-gaap_CommonStockValue">Common Stock, Value, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="label_us-gaap_CommonStockValue" xlink:title="Label : us-gaap_CommonStockValue to label_us-gaap_CommonStockValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockValue_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CommonStockValue_1" xml:lang="en-US" id="label_us-gaap_CommonStockValue_1">Common stock, par value $1 each share (shares - 5,000,000 authorized; 2,178,297 issued)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="label_us-gaap_CommonStockValue_1" xlink:title="Label : us-gaap_CommonStockValue to label_us-gaap_CommonStockValue_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xlink:title="us-gaap_CommonStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommonStockSharesIssued" xml:lang="en-US" id="label_us-gaap_CommonStockSharesIssued">Common Stock, Shares, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="label_us-gaap_CommonStockSharesIssued" xlink:title="Label : us-gaap_CommonStockSharesIssued to label_us-gaap_CommonStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockSharesIssued_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CommonStockSharesIssued_1" xml:lang="en-US" id="label_us-gaap_CommonStockSharesIssued_1">Common stock, shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="label_us-gaap_CommonStockSharesIssued_1" xlink:title="Label : us-gaap_CommonStockSharesIssued to label_us-gaap_CommonStockSharesIssued_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid" xlink:title="us-gaap_CommonStockDividendsPerShareCashPaid" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockDividendsPerShareCashPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommonStockDividendsPerShareCashPaid" xml:lang="en-US" id="label_us-gaap_CommonStockDividendsPerShareCashPaid">Common Stock, Dividends, Per Share, Cash Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockDividendsPerShareCashPaid" xlink:to="label_us-gaap_CommonStockDividendsPerShareCashPaid" xlink:title="Label : us-gaap_CommonStockDividendsPerShareCashPaid to label_us-gaap_CommonStockDividendsPerShareCashPaid" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" xlink:title="us-gaap_CommonStockSharesAuthorized" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1">Debt Instrument, Convertible, Remaining Discount Amortization Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1" xlink:to="label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1" xlink:title="Label : us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1 to label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1_1">Amortization period of loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1" xlink:to="label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1_1" xlink:title="Label : us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1 to label_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="us-gaap_DebtInstrumentTerm" xlink:title="us-gaap_DebtInstrumentTerm" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentTerm" xml:lang="en-US" id="label_us-gaap_DebtInstrumentTerm">Debt Instrument, Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="label_us-gaap_DebtInstrumentTerm" xlink:title="Label : us-gaap_DebtInstrumentTerm to label_us-gaap_DebtInstrumentTerm" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentTerm_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtInstrumentTerm_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentTerm_1">Term of loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="label_us-gaap_DebtInstrumentTerm_1" xlink:title="Label : us-gaap_DebtInstrumentTerm to label_us-gaap_DebtInstrumentTerm_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="us-gaap_DebtDisclosureAbstract" xlink:title="us-gaap_DebtDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtDisclosureAbstract" xml:lang="en-US" id="label_us-gaap_DebtDisclosureAbstract">Note Payable - Related Party: [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="label_us-gaap_DebtDisclosureAbstract" xlink:title="Label : us-gaap_DebtDisclosureAbstract to label_us-gaap_DebtDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" xlink:title="us-gaap_DebtInstrumentTable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentTable" xml:lang="en-US" id="label_us-gaap_DebtInstrumentTable">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="label_us-gaap_DebtInstrumentTable" xlink:title="Label : us-gaap_DebtInstrumentTable to label_us-gaap_DebtInstrumentTable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentTable_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DebtInstrumentTable_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentTable_1">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="label_us-gaap_DebtInstrumentTable_1" xlink:title="Label : us-gaap_DebtInstrumentTable to label_us-gaap_DebtInstrumentTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis" xlink:title="us-gaap_DebtInstrumentAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentAxis" xml:lang="en-US" id="label_us-gaap_DebtInstrumentAxis">Debt Instrument [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="label_us-gaap_DebtInstrumentAxis" xlink:title="Label : us-gaap_DebtInstrumentAxis to label_us-gaap_DebtInstrumentAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount" xlink:title="us-gaap_DebtInstrumentCarryingAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentCarryingAmount" xml:lang="en-US" id="label_us-gaap_DebtInstrumentCarryingAmount">Long-term Debt, Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="label_us-gaap_DebtInstrumentCarryingAmount" xlink:title="Label : us-gaap_DebtInstrumentCarryingAmount to label_us-gaap_DebtInstrumentCarryingAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentCarryingAmount_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtInstrumentCarryingAmount_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentCarryingAmount_1">Amount outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="label_us-gaap_DebtInstrumentCarryingAmount_1" xlink:title="Label : us-gaap_DebtInstrumentCarryingAmount to label_us-gaap_DebtInstrumentCarryingAmount_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="us-gaap_DebtInstrumentMaturityDate" xlink:title="us-gaap_DebtInstrumentMaturityDate" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentMaturityDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentMaturityDate" xml:lang="en-US" id="label_us-gaap_DebtInstrumentMaturityDate">Debt Instrument, Maturity Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="label_us-gaap_DebtInstrumentMaturityDate" xlink:title="Label : us-gaap_DebtInstrumentMaturityDate to label_us-gaap_DebtInstrumentMaturityDate" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentMaturityDate_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DebtInstrumentMaturityDate_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentMaturityDate_1">Final Payment Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="label_us-gaap_DebtInstrumentMaturityDate_1" xlink:title="Label : us-gaap_DebtInstrumentMaturityDate to label_us-gaap_DebtInstrumentMaturityDate_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentPeriodicPaymentInterest" xlink:label="us-gaap_DebtInstrumentPeriodicPaymentInterest" xlink:title="us-gaap_DebtInstrumentPeriodicPaymentInterest" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentPeriodicPaymentInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentPeriodicPaymentInterest" xml:lang="en-US" id="label_us-gaap_DebtInstrumentPeriodicPaymentInterest">Debt Instrument, Periodic Payment, Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentPeriodicPaymentInterest" xlink:to="label_us-gaap_DebtInstrumentPeriodicPaymentInterest" xlink:title="Label : us-gaap_DebtInstrumentPeriodicPaymentInterest to label_us-gaap_DebtInstrumentPeriodicPaymentInterest" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentPeriodicPaymentInterest_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DebtInstrumentPeriodicPaymentInterest_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentPeriodicPaymentInterest_1">Periodic payment of interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentPeriodicPaymentInterest" xlink:to="label_us-gaap_DebtInstrumentPeriodicPaymentInterest_1" xlink:title="Label : us-gaap_DebtInstrumentPeriodicPaymentInterest to label_us-gaap_DebtInstrumentPeriodicPaymentInterest_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:title="us-gaap_DebtInstrumentInterestRateEffectivePercentage" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xml:lang="en-US" id="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage">Debt Instrument, Interest Rate, Effective Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:title="Label : us-gaap_DebtInstrumentInterestRateEffectivePercentage to label_us-gaap_DebtInstrumentInterestRateEffectivePercentage" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_1">Interest rate, percent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_1" xlink:title="Label : us-gaap_DebtInstrumentInterestRateEffectivePercentage to label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_2" xml:lang="en-US" id="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_2">Current Annual Interest Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_2" xlink:title="Label : us-gaap_DebtInstrumentInterestRateEffectivePercentage to label_us-gaap_DebtInstrumentInterestRateEffectivePercentage_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="us-gaap_DebtInstrumentNameDomain" xlink:title="us-gaap_DebtInstrumentNameDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentNameDomain" xml:lang="en-US" id="label_us-gaap_DebtInstrumentNameDomain">Debt Instrument, Name [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentNameDomain" xlink:to="label_us-gaap_DebtInstrumentNameDomain" xlink:title="Label : us-gaap_DebtInstrumentNameDomain to label_us-gaap_DebtInstrumentNameDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount" xlink:title="us-gaap_DebtInstrumentFaceAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentFaceAmount" xml:lang="en-US" id="label_us-gaap_DebtInstrumentFaceAmount">Debt Instrument, Face Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="label_us-gaap_DebtInstrumentFaceAmount" xlink:title="Label : us-gaap_DebtInstrumentFaceAmount to label_us-gaap_DebtInstrumentFaceAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentFaceAmount_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtInstrumentFaceAmount_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentFaceAmount_1">Amount of loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="label_us-gaap_DebtInstrumentFaceAmount_1" xlink:title="Label : us-gaap_DebtInstrumentFaceAmount to label_us-gaap_DebtInstrumentFaceAmount_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:title="us-gaap_DebtInstrumentInterestRateStatedPercentage" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentInterestRateStatedPercentage" xml:lang="en-US" id="label_us-gaap_DebtInstrumentInterestRateStatedPercentage">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="label_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:title="Label : us-gaap_DebtInstrumentInterestRateStatedPercentage to label_us-gaap_DebtInstrumentInterestRateStatedPercentage" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentInterestRateStatedPercentage_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DebtInstrumentInterestRateStatedPercentage_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentInterestRateStatedPercentage_1">Interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="label_us-gaap_DebtInstrumentInterestRateStatedPercentage_1" xlink:title="Label : us-gaap_DebtInstrumentInterestRateStatedPercentage to label_us-gaap_DebtInstrumentInterestRateStatedPercentage_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCosts" xlink:label="us-gaap_DeferredCosts" xlink:title="us-gaap_DeferredCosts" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredCosts" xml:lang="en-US" id="label_us-gaap_DeferredCosts">Deferred Costs, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCosts" xlink:to="label_us-gaap_DeferredCosts" xlink:title="Label : us-gaap_DeferredCosts to label_us-gaap_DeferredCosts" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredCosts_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_DeferredCosts_1" xml:lang="en-US" id="label_us-gaap_DeferredCosts_1">Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCosts" xlink:to="label_us-gaap_DeferredCosts_1" xlink:title="Label : us-gaap_DeferredCosts to label_us-gaap_DeferredCosts_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenue" xlink:label="us-gaap_DeferredRevenue" xlink:title="us-gaap_DeferredRevenue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredRevenue" xml:lang="en-US" id="label_us-gaap_DeferredRevenue">Deferred Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenue" xlink:to="label_us-gaap_DeferredRevenue" xlink:title="Label : us-gaap_DeferredRevenue to label_us-gaap_DeferredRevenue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DeferredRevenue_1" xml:lang="en-US" id="label_us-gaap_DeferredRevenue_1">Deferred revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenue" xlink:to="label_us-gaap_DeferredRevenue_1" xlink:title="Label : us-gaap_DeferredRevenue to label_us-gaap_DeferredRevenue_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="us-gaap_DeferredRevenueCurrent" xlink:title="us-gaap_DeferredRevenueCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenueCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredRevenueCurrent" xml:lang="en-US" id="label_us-gaap_DeferredRevenueCurrent">Deferred Revenue, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="label_us-gaap_DeferredRevenueCurrent" xlink:title="Label : us-gaap_DeferredRevenueCurrent to label_us-gaap_DeferredRevenueCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenueCurrent_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DeferredRevenueCurrent_1" xml:lang="en-US" id="label_us-gaap_DeferredRevenueCurrent_1">Deferred revenue (Note 13)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="label_us-gaap_DeferredRevenueCurrent_1" xlink:title="Label : us-gaap_DeferredRevenueCurrent to label_us-gaap_DeferredRevenueCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueLeasesAccumulatedAmortization" xlink:label="us-gaap_DeferredRevenueLeasesAccumulatedAmortization" xlink:title="us-gaap_DeferredRevenueLeasesAccumulatedAmortization" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization" xml:lang="en-US" id="label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization">Deferred Revenue, Leases, Accumulated Amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueLeasesAccumulatedAmortization" xlink:to="label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization" xlink:title="Label : us-gaap_DeferredRevenueLeasesAccumulatedAmortization to label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization_1" xml:lang="en-US" id="label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization_1">Expected annual amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueLeasesAccumulatedAmortization" xlink:to="label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization_1" xlink:title="Label : us-gaap_DeferredRevenueLeasesAccumulatedAmortization to label_us-gaap_DeferredRevenueLeasesAccumulatedAmortization_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:title="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xml:lang="en-US" id="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit">Deferred State and Local Income Tax Expense (Benefit)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:title="Label : us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit to label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_1" xml:lang="en-US" id="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_1">State and City deferred tax benefit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_1" xlink:title="Label : us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit to label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_2" xml:lang="en-US" id="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_2">State and City</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_2" xlink:title="Label : us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit to label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_2" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_3" xml:lang="en-US" id="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_3">State and City deferred tax benefit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_3" xlink:title="Label : us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit to label_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="us-gaap_DeferredRevenueNoncurrent" xlink:title="us-gaap_DeferredRevenueNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenueNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredRevenueNoncurrent" xml:lang="en-US" id="label_us-gaap_DeferredRevenueNoncurrent">Deferred Revenue, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueNoncurrent" xlink:to="label_us-gaap_DeferredRevenueNoncurrent" xlink:title="Label : us-gaap_DeferredRevenueNoncurrent to label_us-gaap_DeferredRevenueNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenueNoncurrent_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DeferredRevenueNoncurrent_1" xml:lang="en-US" id="label_us-gaap_DeferredRevenueNoncurrent_1">Deferred revenue (Note 13)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueNoncurrent" xlink:to="label_us-gaap_DeferredRevenueNoncurrent_1" xlink:title="Label : us-gaap_DeferredRevenueNoncurrent to label_us-gaap_DeferredRevenueNoncurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueRevenueRecognized" xlink:label="us-gaap_DeferredRevenueRevenueRecognized" xlink:title="us-gaap_DeferredRevenueRevenueRecognized" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenueRevenueRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredRevenueRevenueRecognized" xml:lang="en-US" id="label_us-gaap_DeferredRevenueRevenueRecognized">Deferred Revenue, Revenue Recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueRevenueRecognized" xlink:to="label_us-gaap_DeferredRevenueRevenueRecognized" xlink:title="Label : us-gaap_DeferredRevenueRevenueRecognized to label_us-gaap_DeferredRevenueRevenueRecognized" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredRevenueRevenueRecognized_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DeferredRevenueRevenueRecognized_1" xml:lang="en-US" id="label_us-gaap_DeferredRevenueRevenueRecognized_1">Revenue recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueRevenueRecognized" xlink:to="label_us-gaap_DeferredRevenueRevenueRecognized_1" xlink:title="Label : us-gaap_DeferredRevenueRevenueRecognized to label_us-gaap_DeferredRevenueRevenueRecognized_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent" xlink:title="us-gaap_DeferredTaxAssetsNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredTaxAssetsNetCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredTaxAssetsNetCurrent" xml:lang="en-US" id="label_us-gaap_DeferredTaxAssetsNetCurrent">Deferred Tax Assets, Net Of Valuation Allowance, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNetCurrent" xlink:to="label_us-gaap_DeferredTaxAssetsNetCurrent" xlink:title="Label : us-gaap_DeferredTaxAssetsNetCurrent to label_us-gaap_DeferredTaxAssetsNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredTaxAssetsNetCurrent_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DeferredTaxAssetsNetCurrent_1" xml:lang="en-US" id="label_us-gaap_DeferredTaxAssetsNetCurrent_1">Deferred income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNetCurrent" xlink:to="label_us-gaap_DeferredTaxAssetsNetCurrent_1" xlink:title="Label : us-gaap_DeferredTaxAssetsNetCurrent to label_us-gaap_DeferredTaxAssetsNetCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:label="us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:title="us-gaap_DeferredTaxLiabilitiesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DeferredTaxLiabilitiesNoncurrent" xml:lang="en-US" id="label_us-gaap_DeferredTaxLiabilitiesNoncurrent">Deferred Tax Liabilities, Net, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:to="label_us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:title="Label : us-gaap_DeferredTaxLiabilitiesNoncurrent to label_us-gaap_DeferredTaxLiabilitiesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DeferredTaxLiabilitiesNoncurrent_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DeferredTaxLiabilitiesNoncurrent_1" xml:lang="en-US" id="label_us-gaap_DeferredTaxLiabilitiesNoncurrent_1">Deferred Income Taxes (Note 1)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:to="label_us-gaap_DeferredTaxLiabilitiesNoncurrent_1" xlink:title="Label : us-gaap_DeferredTaxLiabilitiesNoncurrent to label_us-gaap_DeferredTaxLiabilitiesNoncurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedContributionPlanCostRecognized" xlink:label="us-gaap_DefinedContributionPlanCostRecognized" xlink:title="us-gaap_DefinedContributionPlanCostRecognized" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DefinedContributionPlanCostRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DefinedContributionPlanCostRecognized" xml:lang="en-US" id="label_us-gaap_DefinedContributionPlanCostRecognized">Defined Contribution Plan, Cost Recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanCostRecognized" xlink:to="label_us-gaap_DefinedContributionPlanCostRecognized" xlink:title="Label : us-gaap_DefinedContributionPlanCostRecognized to label_us-gaap_DefinedContributionPlanCostRecognized" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DefinedContributionPlanCostRecognized_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DefinedContributionPlanCostRecognized_1" xml:lang="en-US" id="label_us-gaap_DefinedContributionPlanCostRecognized_1">Pension Contributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanCostRecognized" xlink:to="label_us-gaap_DefinedContributionPlanCostRecognized_1" xlink:title="Label : us-gaap_DefinedContributionPlanCostRecognized to label_us-gaap_DefinedContributionPlanCostRecognized_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DefinedContributionPlanCostRecognized_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DefinedContributionPlanCostRecognized_2" xml:lang="en-US" id="label_us-gaap_DefinedContributionPlanCostRecognized_2">Pension contributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanCostRecognized" xlink:to="label_us-gaap_DefinedContributionPlanCostRecognized_2" xlink:title="Label : us-gaap_DefinedContributionPlanCostRecognized to label_us-gaap_DefinedContributionPlanCostRecognized_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepositsAssetsCurrent" xlink:label="us-gaap_DepositsAssetsCurrent" xlink:title="us-gaap_DepositsAssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DepositsAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DepositsAssetsCurrent" xml:lang="en-US" id="label_us-gaap_DepositsAssetsCurrent">Deposits Assets, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositsAssetsCurrent" xlink:to="label_us-gaap_DepositsAssetsCurrent" xlink:title="Label : us-gaap_DepositsAssetsCurrent to label_us-gaap_DepositsAssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DepositsAssetsCurrent_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DepositsAssetsCurrent_1" xml:lang="en-US" id="label_us-gaap_DepositsAssetsCurrent_1">Security deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositsAssetsCurrent" xlink:to="label_us-gaap_DepositsAssetsCurrent_1" xlink:title="Label : us-gaap_DepositsAssetsCurrent to label_us-gaap_DepositsAssetsCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepositsAssetsNoncurrent" xlink:label="us-gaap_DepositsAssetsNoncurrent" xlink:title="us-gaap_DepositsAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DepositsAssetsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DepositsAssetsNoncurrent" xml:lang="en-US" id="label_us-gaap_DepositsAssetsNoncurrent">Deposits Assets, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositsAssetsNoncurrent" xlink:to="label_us-gaap_DepositsAssetsNoncurrent" xlink:title="Label : us-gaap_DepositsAssetsNoncurrent to label_us-gaap_DepositsAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DepositsAssetsNoncurrent_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DepositsAssetsNoncurrent_1" xml:lang="en-US" id="label_us-gaap_DepositsAssetsNoncurrent_1">Security deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositsAssetsNoncurrent" xlink:to="label_us-gaap_DepositsAssetsNoncurrent_1" xlink:title="Label : us-gaap_DepositsAssetsNoncurrent to label_us-gaap_DepositsAssetsNoncurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization" xlink:title="us-gaap_DepreciationAndAmortization" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DepreciationAndAmortization" xml:lang="en-US" id="label_us-gaap_DepreciationAndAmortization">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="label_us-gaap_DepreciationAndAmortization" xlink:title="Label : us-gaap_DepreciationAndAmortization to label_us-gaap_DepreciationAndAmortization" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DepreciationAndAmortization_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DepreciationAndAmortization_1" xml:lang="en-US" id="label_us-gaap_DepreciationAndAmortization_1">Depreciation and amortization (Note 6)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="label_us-gaap_DepreciationAndAmortization_1" xlink:title="Label : us-gaap_DepreciationAndAmortization to label_us-gaap_DepreciationAndAmortization_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DomesticCountryMember" xlink:label="us-gaap_DomesticCountryMember" xlink:title="us-gaap_DomesticCountryMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DomesticCountryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DomesticCountryMember" xml:lang="en-US" id="label_us-gaap_DomesticCountryMember">Domestic Tax Authority [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DomesticCountryMember" xlink:to="label_us-gaap_DomesticCountryMember" xlink:title="Label : us-gaap_DomesticCountryMember to label_us-gaap_DomesticCountryMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromRelatedParties" xlink:label="us-gaap_DueFromRelatedParties" xlink:title="us-gaap_DueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DueFromRelatedParties" xml:lang="en-US" id="label_us-gaap_DueFromRelatedParties">Due from Related Parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="label_us-gaap_DueFromRelatedParties" xlink:title="Label : us-gaap_DueFromRelatedParties to label_us-gaap_DueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DueFromRelatedParties_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DueFromRelatedParties_1" xml:lang="en-US" id="label_us-gaap_DueFromRelatedParties_1">Balance due</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="label_us-gaap_DueFromRelatedParties_1" xlink:title="Label : us-gaap_DueFromRelatedParties to label_us-gaap_DueFromRelatedParties_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock" xlink:title="us-gaap_EarningsPerShareTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_EarningsPerShareTextBlock" xml:lang="en-US" id="label_us-gaap_EarningsPerShareTextBlock">Earnings Per Share [Text Block]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidCapitalized" xlink:to="label_us-gaap_InterestPaidCapitalized" xlink:title="Label : us-gaap_InterestPaidCapitalized to label_us-gaap_InterestPaidCapitalized" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPaidCapitalized_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_InterestPaidCapitalized_1" xml:lang="en-US" id="label_us-gaap_InterestPaidCapitalized_1">Capitalized interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidCapitalized" xlink:to="label_us-gaap_InterestPaidCapitalized_1" xlink:title="Label : us-gaap_InterestPaidCapitalized to label_us-gaap_InterestPaidCapitalized_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseRelatedParty" xlink:to="label_us-gaap_InterestExpenseRelatedParty" xlink:title="Label : us-gaap_InterestExpenseRelatedParty to label_us-gaap_InterestExpenseRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpenseRelatedParty_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_InterestExpenseRelatedParty_1" xml:lang="en-US" id="label_us-gaap_InterestExpenseRelatedParty_1">Interest expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseRelatedParty" xlink:to="label_us-gaap_InterestExpenseRelatedParty_1" xlink:title="Label : us-gaap_InterestExpenseRelatedParty to label_us-gaap_InterestExpenseRelatedParty_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestExpense" xml:lang="en-US" id="label_us-gaap_InterestExpense">Interest Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="label_us-gaap_InterestExpense" xlink:title="Label : us-gaap_InterestExpense to label_us-gaap_InterestExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_InterestExpense_1" xml:lang="en-US" id="label_us-gaap_InterestExpense_1">Interest expense (Notes 5, 7 and 10)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="label_us-gaap_InterestExpense_1" xlink:title="Label : us-gaap_InterestExpense to label_us-gaap_InterestExpense_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestIncomeExpenseNet" xml:lang="en-US" id="label_us-gaap_InterestIncomeExpenseNet">Interest Income (Expense), Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeExpenseNet" xlink:to="label_us-gaap_InterestIncomeExpenseNet" xlink:title="Label : us-gaap_InterestIncomeExpenseNet to label_us-gaap_InterestIncomeExpenseNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestIncomeExpenseNet_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_InterestIncomeExpenseNet_1" xml:lang="en-US" id="label_us-gaap_InterestIncomeExpenseNet_1">Interest Income (Expense), Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeExpenseNet" xlink:to="label_us-gaap_InterestIncomeExpenseNet_1" xlink:title="Label : us-gaap_InterestIncomeExpenseNet to label_us-gaap_InterestIncomeExpenseNet_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="us-gaap_InterestPaidNet" xlink:title="us-gaap_InterestPaidNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestPaidNet" xml:lang="en-US" id="label_us-gaap_InterestPaidNet">Interest Paid, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidNet" xlink:to="label_us-gaap_InterestPaidNet" xlink:title="Label : us-gaap_InterestPaidNet to label_us-gaap_InterestPaidNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPaidNet_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InterestPaidNet_1" xml:lang="en-US" id="label_us-gaap_InterestPaidNet_1">Interest paid, net of capitalized interest of $18,127 (2016) and $5,359 (2015)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidNet" xlink:to="label_us-gaap_InterestPaidNet_1" xlink:title="Label : us-gaap_InterestPaidNet to label_us-gaap_InterestPaidNet_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeNet" xlink:label="us-gaap_InvestmentIncomeNet" xlink:title="us-gaap_InvestmentIncomeNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentIncomeNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InvestmentIncomeNet" xml:lang="en-US" id="label_us-gaap_InvestmentIncomeNet">Investment Income, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeNet" xlink:to="label_us-gaap_InvestmentIncomeNet" xlink:title="Label : us-gaap_InvestmentIncomeNet to label_us-gaap_InvestmentIncomeNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentIncomeNet_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_InvestmentIncomeNet_1" xml:lang="en-US" id="label_us-gaap_InvestmentIncomeNet_1">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeNet" xlink:to="label_us-gaap_InvestmentIncomeNet_1" xlink:title="Label : us-gaap_InvestmentIncomeNet to label_us-gaap_InvestmentIncomeNet_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeTextBlock" xlink:label="us-gaap_InvestmentIncomeTextBlock" xlink:title="us-gaap_InvestmentIncomeTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InvestmentIncomeTextBlock" xml:lang="en-US" id="label_us-gaap_InvestmentIncomeTextBlock">Investment Income [Table Text Block]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeTextBlock" xlink:to="label_us-gaap_InvestmentIncomeTextBlock_1" xlink:title="Label : us-gaap_InvestmentIncomeTextBlock to label_us-gaap_InvestmentIncomeTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeDividend" xlink:label="us-gaap_InvestmentIncomeDividend" xlink:title="us-gaap_InvestmentIncomeDividend" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeInterestAndDividend" xlink:label="us-gaap_InvestmentIncomeInterestAndDividend" xlink:title="us-gaap_InvestmentIncomeInterestAndDividend" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentIncomeInterestAndDividend" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InvestmentIncomeInterestAndDividend" xml:lang="en-US" id="label_us-gaap_InvestmentIncomeInterestAndDividend">Investment Income, Interest and Dividend</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentIncomeInterest_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_InvestmentIncomeInterest_1" xml:lang="en-US" id="label_us-gaap_InvestmentIncomeInterest_1">Interest income</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_1" xml:lang="en-US" id="label_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_1">Marketable securities:</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InvestmentsFairValueDisclosure" xml:lang="en-US" id="label_us-gaap_InvestmentsFairValueDisclosure">Investments, Fair Value Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsFairValueDisclosure" xlink:to="label_us-gaap_InvestmentsFairValueDisclosure" xlink:title="Label : us-gaap_InvestmentsFairValueDisclosure to label_us-gaap_InvestmentsFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentsFairValueDisclosure_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InvestmentsFairValueDisclosure_1" xml:lang="en-US" id="label_us-gaap_InvestmentsFairValueDisclosure_1">Fair Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsFairValueDisclosure" xlink:to="label_us-gaap_InvestmentsFairValueDisclosure_1" xlink:title="Label : us-gaap_InvestmentsFairValueDisclosure to label_us-gaap_InvestmentsFairValueDisclosure_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" xlink:title="us-gaap_LongtermDebtTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LongtermDebtTypeAxis" xml:lang="en-US" id="label_us-gaap_LongtermDebtTypeAxis">Long-Term Debt, Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="label_us-gaap_LongtermDebtTypeAxis" xlink:title="Label : us-gaap_LongtermDebtTypeAxis to label_us-gaap_LongtermDebtTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongtermDebtTypeAxis_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LongtermDebtTypeAxis_1" xml:lang="en-US" id="label_us-gaap_LongtermDebtTypeAxis_1">Long-term Debt, Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="label_us-gaap_LongtermDebtTypeAxis_1" xlink:title="Label : us-gaap_LongtermDebtTypeAxis to label_us-gaap_LongtermDebtTypeAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" xlink:title="us-gaap_LongtermDebtTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LongtermDebtTypeDomain" xml:lang="en-US" id="label_us-gaap_LongtermDebtTypeDomain">Long-Term Debt, Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="label_us-gaap_LongtermDebtTypeDomain" xlink:title="Label : us-gaap_LongtermDebtTypeDomain to label_us-gaap_LongtermDebtTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongtermDebtTypeDomain_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LongtermDebtTypeDomain_1" xml:lang="en-US" id="label_us-gaap_LongtermDebtTypeDomain_1">Long-term Debt, Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="label_us-gaap_LongtermDebtTypeDomain_1" xlink:title="Label : us-gaap_LongtermDebtTypeDomain to label_us-gaap_LongtermDebtTypeDomain_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LandMember" xlink:label="us-gaap_LandMember" xlink:title="us-gaap_LandMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LandMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LandMember" xml:lang="en-US" id="label_us-gaap_LandMember">Land [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandMember" xlink:to="label_us-gaap_LandMember" xlink:title="Label : us-gaap_LandMember to label_us-gaap_LandMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LandAndBuildingMember" xlink:label="us-gaap_LandAndBuildingMember" xlink:title="us-gaap_LandAndBuildingMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LandAndBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LandAndBuildingMember" xml:lang="en-US" id="label_us-gaap_LandAndBuildingMember">Land and Building [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandAndBuildingMember" xlink:to="label_us-gaap_LandAndBuildingMember" xlink:title="Label : us-gaap_LandAndBuildingMember to label_us-gaap_LandAndBuildingMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LandAndBuildingMember_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LandAndBuildingMember_1" xml:lang="en-US" id="label_us-gaap_LandAndBuildingMember_1">Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandAndBuildingMember" xlink:to="label_us-gaap_LandAndBuildingMember_1" xlink:title="Label : us-gaap_LandAndBuildingMember to label_us-gaap_LandAndBuildingMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="us-gaap_LeaseAndRentalExpense" xlink:title="us-gaap_LeaseAndRentalExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeaseAndRentalExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LeaseAndRentalExpense" xml:lang="en-US" id="label_us-gaap_LeaseAndRentalExpense">Operating Leases, Rent Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAndRentalExpense" xlink:to="label_us-gaap_LeaseAndRentalExpense" xlink:title="Label : us-gaap_LeaseAndRentalExpense to label_us-gaap_LeaseAndRentalExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeaseAndRentalExpense_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LeaseAndRentalExpense_1" xml:lang="en-US" id="label_us-gaap_LeaseAndRentalExpense_1">Rent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAndRentalExpense" xlink:to="label_us-gaap_LeaseAndRentalExpense_1" xlink:title="Label : us-gaap_LeaseAndRentalExpense to label_us-gaap_LeaseAndRentalExpense_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeaseAndRentalExpense_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LeaseAndRentalExpense_2" xml:lang="en-US" id="label_us-gaap_LeaseAndRentalExpense_2">Rent expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAndRentalExpense" xlink:to="label_us-gaap_LeaseAndRentalExpense_2" xlink:title="Label : us-gaap_LeaseAndRentalExpense to label_us-gaap_LeaseAndRentalExpense_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseholdImprovementsMember" xlink:label="us-gaap_LeaseholdImprovementsMember" xlink:title="us-gaap_LeaseholdImprovementsMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LeaseholdImprovementsMember" xml:lang="en-US" id="label_us-gaap_LeaseholdImprovementsMember">Leasehold Improvements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="label_us-gaap_LeaseholdImprovementsMember" xlink:title="Label : us-gaap_LeaseholdImprovementsMember to label_us-gaap_LeaseholdImprovementsMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeaseholdImprovementsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LeaseholdImprovementsMember_1" xml:lang="en-US" id="label_us-gaap_LeaseholdImprovementsMember_1">Improvements to leased property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="label_us-gaap_LeaseholdImprovementsMember_1" xlink:title="Label : us-gaap_LeaseholdImprovementsMember to label_us-gaap_LeaseholdImprovementsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeasingCommissionsExpense" xlink:label="us-gaap_LeasingCommissionsExpense" xlink:title="us-gaap_LeasingCommissionsExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeasingCommissionsExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LeasingCommissionsExpense" xml:lang="en-US" id="label_us-gaap_LeasingCommissionsExpense">Leasing Commissions Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasingCommissionsExpense" xlink:to="label_us-gaap_LeasingCommissionsExpense" xlink:title="Label : us-gaap_LeasingCommissionsExpense to label_us-gaap_LeasingCommissionsExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeasingCommissionsExpense_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LeasingCommissionsExpense_1" xml:lang="en-US" id="label_us-gaap_LeasingCommissionsExpense_1">Brokerage commissions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasingCommissionsExpense" xlink:to="label_us-gaap_LeasingCommissionsExpense_1" xlink:title="Label : us-gaap_LeasingCommissionsExpense to label_us-gaap_LeasingCommissionsExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" xlink:title="us-gaap_LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesCurrent" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrent">Liabilities, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="label_us-gaap_LiabilitiesCurrent" xlink:title="Label : us-gaap_LiabilitiesCurrent to label_us-gaap_LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrent_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_LiabilitiesCurrent_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrent_1">Total current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="label_us-gaap_LiabilitiesCurrent_1" xlink:title="Label : us-gaap_LiabilitiesCurrent to label_us-gaap_LiabilitiesCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:title="us-gaap_LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesCurrentAbstract" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrentAbstract">Liabilities, Current [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="label_us-gaap_LiabilitiesCurrentAbstract" xlink:title="Label : us-gaap_LiabilitiesCurrentAbstract to label_us-gaap_LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrentAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LiabilitiesCurrentAbstract_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrentAbstract_1">Current Liabilities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="label_us-gaap_LiabilitiesCurrentAbstract_1" xlink:title="Label : us-gaap_LiabilitiesCurrentAbstract to label_us-gaap_LiabilitiesCurrentAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" xlink:title="us-gaap_Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_Liabilities" xml:lang="en-US" id="label_us-gaap_Liabilities">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="label_us-gaap_Liabilities" xlink:title="Label : us-gaap_Liabilities to label_us-gaap_Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Liabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_Liabilities_1" xml:lang="en-US" id="label_us-gaap_Liabilities_1">TOTAL LIABILITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="label_us-gaap_Liabilities_1" xlink:title="Label : us-gaap_Liabilities to label_us-gaap_Liabilities_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract">Liabilities and Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquityAbstract to label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1">LIABILITIES AND SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquityAbstract to label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquity" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquity to label_us-gaap_LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquity_1">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquity to label_us-gaap_LiabilitiesAndStockholdersEquity_1" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesAndLoansPayableCurrent" xlink:label="us-gaap_NotesAndLoansPayableCurrent" xlink:title="us-gaap_NotesAndLoansPayableCurrent" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesAndLoansPayableCurrent" xlink:to="label_us-gaap_NotesAndLoansPayableCurrent" xlink:title="Label : us-gaap_NotesAndLoansPayableCurrent to label_us-gaap_NotesAndLoansPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NotesAndLoansPayableCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NotesAndLoansPayableCurrent_1" xml:lang="en-US" id="label_us-gaap_NotesAndLoansPayableCurrent_1">Due Within One Year</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingExpensesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_OperatingExpensesAbstract_1" xml:lang="en-US" id="label_us-gaap_OperatingExpensesAbstract_1">Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="label_us-gaap_OperatingExpensesAbstract_1" xlink:title="Label : us-gaap_OperatingExpensesAbstract to label_us-gaap_OperatingExpensesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" xlink:title="us-gaap_OperatingExpenses" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="label_us-gaap_RelatedPartyTransactionLineItems" xlink:title="Label : us-gaap_RelatedPartyTransactionLineItems to label_us-gaap_RelatedPartyTransactionLineItems" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionAxis" xlink:to="label_us-gaap_RelatedPartyTransactionAxis" xlink:title="Label : us-gaap_RelatedPartyTransactionAxis to label_us-gaap_RelatedPartyTransactionAxis" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLongTermDebt" xlink:to="label_us-gaap_RepaymentsOfLongTermDebt" xlink:title="Label : us-gaap_RepaymentsOfLongTermDebt to label_us-gaap_RepaymentsOfLongTermDebt" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLongTermDebt" xlink:to="label_us-gaap_RepaymentsOfLongTermDebt_1" xlink:title="Label : us-gaap_RepaymentsOfLongTermDebt to label_us-gaap_RepaymentsOfLongTermDebt_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="label_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:title="Label : us-gaap_RetainedEarningsAccumulatedDeficit to label_us-gaap_RetainedEarningsAccumulatedDeficit" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SubsequentEventLineItems" xml:lang="en-US" id="label_us-gaap_SubsequentEventLineItems">Subsequent Event [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventLineItems" xlink:to="label_us-gaap_SubsequentEventLineItems" xlink:title="Label : us-gaap_SubsequentEventLineItems to label_us-gaap_SubsequentEventLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xlink:title="us-gaap_SubsequentEventMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SubsequentEventMember" xml:lang="en-US" id="label_us-gaap_SubsequentEventMember">Subsequent Event [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="label_us-gaap_SubsequentEventMember" xlink:title="Label : us-gaap_SubsequentEventMember to label_us-gaap_SubsequentEventMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_SubsequentEventMember_1" xml:lang="en-US" id="label_us-gaap_SubsequentEventMember_1">Subsequent event [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="label_us-gaap_SubsequentEventMember_1" xlink:title="Label : us-gaap_SubsequentEventMember to label_us-gaap_SubsequentEventMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock" xlink:title="us-gaap_SubsequentEventsTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SubsequentEventsTextBlock" xml:lang="en-US" id="label_us-gaap_SubsequentEventsTextBlock">Subsequent Events [Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventsTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_SubsequentEventsTextBlock_1" xml:lang="en-US" id="label_us-gaap_SubsequentEventsTextBlock_1">Subsequent Event:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="label_us-gaap_SubsequentEventsTextBlock_1" xlink:title="Label : us-gaap_SubsequentEventsTextBlock to label_us-gaap_SubsequentEventsTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="us-gaap_SubsequentEventsAbstract" xlink:title="us-gaap_SubsequentEventsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SubsequentEventsAbstract" xml:lang="en-US" id="label_us-gaap_SubsequentEventsAbstract">Subsequent Events: [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="label_us-gaap_SubsequentEventsAbstract" xlink:title="Label : us-gaap_SubsequentEventsAbstract to label_us-gaap_SubsequentEventsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="us-gaap_SubsequentEventTypeDomain" xlink:title="us-gaap_SubsequentEventTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SubsequentEventTypeDomain" xml:lang="en-US" id="label_us-gaap_SubsequentEventTypeDomain">Subsequent Event Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="label_us-gaap_SubsequentEventTypeDomain" xlink:title="Label : us-gaap_SubsequentEventTypeDomain to label_us-gaap_SubsequentEventTypeDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTable" xlink:label="us-gaap_SubsequentEventTable" xlink:title="us-gaap_SubsequentEventTable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SubsequentEventTable" xml:lang="en-US" id="label_us-gaap_SubsequentEventTable">Subsequent Event [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTable" xlink:to="label_us-gaap_SubsequentEventTable" xlink:title="Label : us-gaap_SubsequentEventTable to label_us-gaap_SubsequentEventTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SupplementalCashFlowElementsAbstract" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract" xlink:title="us-gaap_SupplementalCashFlowElementsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SupplementalCashFlowElementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SupplementalCashFlowElementsAbstract" xml:lang="en-US" id="label_us-gaap_SupplementalCashFlowElementsAbstract">Cash Flow Information: [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="label_us-gaap_SupplementalCashFlowElementsAbstract" xlink:title="Label : us-gaap_SupplementalCashFlowElementsAbstract to label_us-gaap_SupplementalCashFlowElementsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xlink:label="us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xlink:title="us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xml:lang="en-US" id="label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions">Tax Adjustments, Settlements, and Unusual Provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xlink:to="label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xlink:title="Label : us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions to label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions_1" xml:lang="en-US" id="label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions_1">Tax refund</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xlink:to="label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions_1" xlink:title="Label : us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions to label_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TransferMortgagePayable" xlink:label="us-gaap_TransferMortgagePayable" xlink:title="us-gaap_TransferMortgagePayable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_TransferMortgagePayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_TransferMortgagePayable" xml:lang="en-US" id="label_us-gaap_TransferMortgagePayable">Transfer Mortgage Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransferMortgagePayable" xlink:to="label_us-gaap_TransferMortgagePayable" xlink:title="Label : us-gaap_TransferMortgagePayable to label_us-gaap_TransferMortgagePayable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_TransferMortgagePayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_TransferMortgagePayable_1" xml:lang="en-US" id="label_us-gaap_TransferMortgagePayable_1">Refinancing of mortgage payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransferMortgagePayable" xlink:to="label_us-gaap_TransferMortgagePayable_1" xlink:title="Label : us-gaap_TransferMortgagePayable to label_us-gaap_TransferMortgagePayable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares" xlink:title="us-gaap_TreasuryStockShares" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_TreasuryStockShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_TreasuryStockShares" xml:lang="en-US" id="label_us-gaap_TreasuryStockShares">Treasury Stock, Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="label_us-gaap_TreasuryStockShares" xlink:title="Label : us-gaap_TreasuryStockShares to label_us-gaap_TreasuryStockShares" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_TreasuryStockShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_TreasuryStockShares_1" xml:lang="en-US" id="label_us-gaap_TreasuryStockShares_1">Treasury stock, shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="label_us-gaap_TreasuryStockShares_1" xlink:title="Label : us-gaap_TreasuryStockShares to label_us-gaap_TreasuryStockShares_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_TreasuryStockShares_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_TreasuryStockShares_2" xml:lang="en-US" id="label_us-gaap_TreasuryStockShares_2">Treasury stock, shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="label_us-gaap_TreasuryStockShares_2" xlink:title="Label : us-gaap_TreasuryStockShares to label_us-gaap_TreasuryStockShares_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue" xlink:title="us-gaap_TreasuryStockValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_TreasuryStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_TreasuryStockValue" xml:lang="en-US" id="label_us-gaap_TreasuryStockValue">Treasury Stock, Value</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_TreasuryStockValue_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_TreasuryStockValue_1" xml:lang="en-US" id="label_us-gaap_TreasuryStockValue_1">Less common stock held in treasury, at cost - 162,517 shares at January 31, 2016 and at July 31, 2015 (Note 11)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear" xlink:label="us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear" xlink:title="us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear_1" xml:lang="en-US" id="label_us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear_1">Unbilled receivables (Notes 4 and 8)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
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<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>9
<FILENAME>mays-20160131_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
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<!--Created by DG3, Powered by IRIS Carbon-->
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  <link:roleRef roleURI="http://www.jwmays.com/role/mays-ccsocf" xlink:type="simple" xlink:href="mays-20160131.xsd#mays-ccsocf" />
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  <link:roleRef roleURI="http://www.jwmays.com/role/mays-paeacd" xlink:type="simple" xlink:href="mays-20160131.xsd#mays-paeacd" />
  <link:roleRef roleURI="http://www.jwmays.com/role/mays-aocid1" xlink:type="simple" xlink:href="mays-20160131.xsd#mays-aocid1" />
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6790979376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>DOCUMENT AND ENTITY INFORMATION - shares<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Mar. 02, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_DocumentAndEntityInformationAbstract', window );"><strong>DOCUMENT AND ENTITY INFORMATION</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">MAYS J W INC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000054187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--07-31<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Smaller Reporting Company<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MAYS<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,015,780<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-Q<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791940288">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 48,634,085<span></span>
</td>
<td class="nump">$ 48,191,392<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents (Note 4)</a></td>
<td class="nump">4,534,381<span></span>
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<td class="nump">4,085,704<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables (Note 4)</a></td>
<td class="nump">720,050<span></span>
</td>
<td class="nump">$ 638,643<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_RealEstateTaxesRefundableCurrent', window );">Real estate taxes refundable</a></td>
<td class="nump">16,474<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesReceivable', window );">Income taxes refundable</a></td>
<td class="nump">597,866<span></span>
</td>
<td class="nump">$ 695,265<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetCurrent', window );">Deferred income taxes</a></td>
<td class="nump">3,437,000<span></span>
</td>
<td class="nump">3,531,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepositsAssetsCurrent', window );">Security deposits</a></td>
<td class="nump">88,584<span></span>
</td>
<td class="nump">83,012<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrent', window );">Prepaid expenses</a></td>
<td class="nump">1,465,145<span></span>
</td>
<td class="nump">1,477,996<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">10,859,500<span></span>
</td>
<td class="nump">10,511,620<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsAbstract', window );"><strong>Other Assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_DeferredChargesGross', window );">Deferred charges</a></td>
<td class="nump">3,901,664<span></span>
</td>
<td class="nump">3,859,594<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_AccumulatedAmortizationOfDeferredCharges', window );">Less: accumulated amortization</a></td>
<td class="nump">1,730,284<span></span>
</td>
<td class="nump">1,560,205<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCosts', window );">Net</a></td>
<td class="nump">2,171,380<span></span>
</td>
<td class="nump">2,299,389<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermInvestmentsAndReceivablesNet', window );">Receivables (Note 4)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepositsAssetsNoncurrent', window );">Security deposits</a></td>
<td class="nump">1,244,472<span></span>
</td>
<td class="nump">1,328,952<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear', window );">Unbilled receivables (Notes 4 and 8)</a></td>
<td class="nump">2,421,224<span></span>
</td>
<td class="nump">2,613,246<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketableSecuritiesNoncurrent', window );">Marketable securities (Notes 3 and 4)</a></td>
<td class="nump">1,168,462<span></span>
</td>
<td class="nump">1,461,504<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment', window );">Total other assets</a></td>
<td class="nump">7,005,538<span></span>
</td>
<td class="nump">7,733,091<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">66,499,123<span></span>
</td>
<td class="nump">66,436,103<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtAbstract', window );"><strong>Long-Term Debt:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesAndLoans', window );">Mortgages payable (Note 5)</a></td>
<td class="nump">5,709,650<span></span>
</td>
<td class="nump">5,786,525<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesNoncurrent', window );">Note payable - related party (Note 7)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_SecurityDepositsPayableNonCurrent', window );">Security deposits payable</a></td>
<td class="nump">606,997<span></span>
</td>
<td class="nump">693,576<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent', window );">Payroll and other accrued liabilities</a></td>
<td class="nump">121,223<span></span>
</td>
<td class="nump">121,223<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueNoncurrent', window );">Deferred revenue (Note 13)</a></td>
<td class="nump">437,500<span></span>
</td>
<td class="nump">1,020,833<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Total long-term debt</a></td>
<td class="nump">6,875,370<span></span>
</td>
<td class="nump">8,622,157<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesNoncurrent', window );">Deferred Income Taxes (Note 1)</a></td>
<td class="nump">7,586,000<span></span>
</td>
<td class="nump">7,386,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">100,192<span></span>
</td>
<td class="nump">39,759<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_PayrollAndOtherAccruedLiabilitiesCurrent', window );">Payroll and other accrued liabilities</a></td>
<td class="nump">2,561,484<span></span>
</td>
<td class="nump">2,597,104<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred revenue (Note 13)</a></td>
<td class="nump">1,166,666<span></span>
</td>
<td class="nump">1,166,667<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent', window );">Other taxes payable</a></td>
<td class="nump">12,000<span></span>
</td>
<td class="nump">$ 5,972<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent', window );">Current portion of note payable - related party (Note 7)</a></td>
<td class="nump">1,000,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Current portion of long-term debt (Note 5)</a></td>
<td class="nump">153,511<span></span>
</td>
<td class="nump">$ 150,763<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_SecurityDepositsPayableCurrent', window );">Current portion of security deposits payable</a></td>
<td class="nump">88,584<span></span>
</td>
<td class="nump">83,012<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">5,082,437<span></span>
</td>
<td class="nump">4,043,277<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">TOTAL LIABILITIES</a></td>
<td class="nump">19,543,807<span></span>
</td>
<td class="nump">20,051,434<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Shareholders' Equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, par value $1 each share (shares - 5,000,000 authorized; 2,178,297 issued)</a></td>
<td class="nump">2,178,297<span></span>
</td>
<td class="nump">2,178,297<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital</a></td>
<td class="nump">3,346,245<span></span>
</td>
<td class="nump">3,346,245<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax', window );">Unrealized gain on available-for-sale securities - net of deferred taxes of $73,000 at January 31, 2016 and $101,000 at July 31, 2015</a></td>
<td class="nump">142,579<span></span>
</td>
<td class="nump">196,033<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
<td class="nump">42,576,047<span></span>
</td>
<td class="nump">41,951,946<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityBeforeTreasuryStock', window );">Stockholders' Equity before Treasury Stock</a></td>
<td class="nump">48,243,168<span></span>
</td>
<td class="nump">47,672,521<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Less common stock held in treasury, at cost - 162,517 shares at January 31, 2016 and at July 31, 2015 (Note 11)</a></td>
<td class="nump">1,287,852<span></span>
</td>
<td class="nump">1,287,852<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders' equity</a></td>
<td class="nump">$ 46,955,316<span></span>
</td>
<td class="nump">$ 46,384,669<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Contingencies (Note 14)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</a></td>
<td class="nump">$ 66,499,123<span></span>
</td>
<td class="nump">$ 66,436,103<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_AccumulatedAmortizationOfDeferredCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The accumulated amortization, as of the reporting date, which represents the periodic charge to earnings of initial direct costs which have been deferred and are being allocated over the lease term in proportion to the recognition of rental income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_AccumulatedAmortizationOfDeferredCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_DeferredChargesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents costs incurred by the lessor for the current period, that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This amount is before considering accumulated amortization representing the periodic charge to earnings to recognize the deferred costs over the term of the related lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_DeferredChargesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_PayrollAndOtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to payroll taxes received from employees. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Also includes the obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_PayrollAndOtherAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_PayrollAndOtherAccruedLiabilitiesNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to payroll taxes received from employees. Used to reflect the current portion of the liabilities (due beyond one year or one operating cycle). Also includes the obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due beyond one year or one operating cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_PayrollAndOtherAccruedLiabilitiesNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_RealEstateTaxesRefundableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Real Estate Taxes Refundable, Current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_RealEstateTaxesRefundableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_SecurityDepositsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of security deposits payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_SecurityDepositsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_SecurityDepositsPayableNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of security deposits payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_SecurityDepositsPayableNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for real and property taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 720<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6419918&amp;loc=d3e35281-107843<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated appreciation or loss, net of tax, in value of the total of available-for-sale securities at the end of an accounting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets, excluding property, plant, and equipment and other property and investments, that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Alternate captions include Total Deferred Charges and Other Assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against earnings in periods after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 17<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31928-109318<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, netted by jurisdiction and classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepositsAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment within one year or during the operating cycle, if shorter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepositsAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepositsAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepositsAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.5(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermInvestmentsAndReceivablesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle) and amount due to the Entity from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such investments and receivables to an amount that approximates their net realizable value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermInvestmentsAndReceivablesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermNotesAndLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermNotesAndLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MarketableSecuritiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total debt and equity financial instruments including: (1) securities held-to-maturity and (2) securities available-for-sale that will be held for the long-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26626-111562<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MarketableSecuritiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), due to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableRelatedPartiesClassifiedCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), payable to related parties, which are due after one year (or one business cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6787-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 05<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=51662447&amp;loc=d3e5879-108316<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Assets<br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td>instant</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReceivablesNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3,4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivablesNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityBeforeTreasuryStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total amount of stockholders' equity (deficit) items including stock value, paid in capital, retained earnings and including equity attributable to noncontrolling interests and before deducting the carrying value of treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityBeforeTreasuryStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of receivables under long-term contracts that have not been billed and were not billable that are expected to be collected after the next fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 910<br> -SubTopic 310<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51673017&amp;loc=d3e49336-109356<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6779854032">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
<td class="nump">5,000,000<span></span>
</td>
<td class="nump">5,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
<td class="nump">2,178,297<span></span>
</td>
<td class="nump">2,178,297<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury stock, shares</a></td>
<td class="nump">162,517<span></span>
</td>
<td class="nump">162,517<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember', window );">Unrealized Gain on Available-for-sale Securities - Net of Deferred Taxes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AociTaxAttributableToParent', window );">Deferred taxes</a></td>
<td class="nump">$ 73,000<span></span>
</td>
<td class="nump">$ 101,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AociTaxAttributableToParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of tax expense (benefit) allocated to accumulated other comprehensive income (loss) attributable to parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AociTaxAttributableToParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<html>
<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791250592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue', window );">Rental income (Notes 4 and 8)</a></td>
<td class="nump">$ 4,315,940<span></span>
</td>
<td class="nump">$ 4,412,233<span></span>
</td>
<td class="nump">$ 8,593,334<span></span>
</td>
<td class="nump">$ 8,752,590<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_RecoveryOfRealEstateTaxes', window );">Recovery of real estate taxes</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">10,625<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_VacateLeaseRevenue', window );">Revenue to temporarily vacate lease (Note 13)</a></td>
<td class="nump">$ 291,667<span></span>
</td>
<td class="nump">$ 291,667<span></span>
</td>
<td class="nump">$ 583,334<span></span>
</td>
<td class="nump">583,334<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateRevenueNet', window );">Total revenues</a></td>
<td class="nump">4,607,607<span></span>
</td>
<td class="nump">4,703,900<span></span>
</td>
<td class="nump">9,176,668<span></span>
</td>
<td class="nump">9,346,549<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRealEstateRevenue', window );">Real estate operating expenses</a></td>
<td class="nump">2,571,056<span></span>
</td>
<td class="nump">2,470,736<span></span>
</td>
<td class="nump">4,979,655<span></span>
</td>
<td class="nump">4,794,934<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">Administrative and general expenses</a></td>
<td class="nump">1,264,471<span></span>
</td>
<td class="nump">1,139,437<span></span>
</td>
<td class="nump">2,320,453<span></span>
</td>
<td class="nump">2,122,730<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization (Note 6)</a></td>
<td class="nump">407,400<span></span>
</td>
<td class="nump">443,822<span></span>
</td>
<td class="nump">814,150<span></span>
</td>
<td class="nump">884,807<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total expenses</a></td>
<td class="nump">4,242,927<span></span>
</td>
<td class="nump">4,053,995<span></span>
</td>
<td class="nump">8,114,258<span></span>
</td>
<td class="nump">7,802,471<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income from operations before investment income, interest expense and income taxes</a></td>
<td class="nump">364,680<span></span>
</td>
<td class="nump">649,905<span></span>
</td>
<td class="nump">1,062,410<span></span>
</td>
<td class="nump">1,544,078<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_InvestmentIncomeAndInterestExpensesAbstract', window );"><strong>Investment income and interest expense:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterestAndDividend', window );">Investment income (loss) (Note 3)</a></td>
<td class="num">(80)<span></span>
</td>
<td class="nump">26,353<span></span>
</td>
<td class="nump">7,142<span></span>
</td>
<td class="nump">32,544<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense (Notes 5, 7 and 10)</a></td>
<td class="num">(58,874)<span></span>
</td>
<td class="num">(92,345)<span></span>
</td>
<td class="num">(123,451)<span></span>
</td>
<td class="num">(201,037)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeExpenseNet', window );">Interest Income (Expense), Net</a></td>
<td class="num">(58,954)<span></span>
</td>
<td class="num">(65,992)<span></span>
</td>
<td class="num">(116,309)<span></span>
</td>
<td class="num">(168,493)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Income from operations before income taxes</a></td>
<td class="nump">305,726<span></span>
</td>
<td class="nump">583,913<span></span>
</td>
<td class="nump">946,101<span></span>
</td>
<td class="nump">1,375,585<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income taxes provided</a></td>
<td class="nump">83,000<span></span>
</td>
<td class="nump">255,000<span></span>
</td>
<td class="nump">322,000<span></span>
</td>
<td class="nump">608,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">222,726<span></span>
</td>
<td class="nump">328,913<span></span>
</td>
<td class="nump">624,101<span></span>
</td>
<td class="nump">767,585<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings, beginning of period</a></td>
<td class="nump">42,353,321<span></span>
</td>
<td class="nump">40,181,936<span></span>
</td>
<td class="nump">41,951,946<span></span>
</td>
<td class="nump">39,743,264<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings, end of period</a></td>
<td class="nump">$ 42,576,047<span></span>
</td>
<td class="nump">$ 40,510,849<span></span>
</td>
<td class="nump">$ 42,576,047<span></span>
</td>
<td class="nump">$ 40,510,849<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Income per common share (Note 2)</a></td>
<td class="nump">$ 0.11<span></span>
</td>
<td class="nump">$ 0.16<span></span>
</td>
<td class="nump">$ 0.31<span></span>
</td>
<td class="nump">$ 0.38<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareCashPaid', window );">Dividends per share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Average common shares outstanding</a></td>
<td class="nump">2,015,780<span></span>
</td>
<td class="nump">2,015,780<span></span>
</td>
<td class="nump">2,015,780<span></span>
</td>
<td class="nump">2,015,780<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_InvestmentIncomeAndInterestExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_InvestmentIncomeAndInterestExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_RecoveryOfRealEstateTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents amount of recovery of real estate taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_RecoveryOfRealEstateTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_VacateLeaseRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue to temporarily vacate lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_VacateLeaseRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareCashPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends paid during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareCashPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRealEstateRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the total of the costs related to real estate revenues, including management, leasing, and development services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfRealEstateRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51673353&amp;loc=d3e41242-110953<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 10<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net amount of operating interest income (expense).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.10)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestIncomeExpenseNet</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterestAndDividend">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income and dividend income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(a),(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39896-112707<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesIncomeStatementLeaseRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate revenue from real estate operations during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract', window );"><strong>CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 222,726<span></span>
</td>
<td class="nump">$ 328,913<span></span>
</td>
<td class="nump">$ 624,101<span></span>
</td>
<td class="nump">$ 767,585<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Unrealized gain (loss) on available-for-sale securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized holding gains (losses) arising during the period, net of taxes (benefit) of ($17,000) and ($10,000) for the three months ended January 31, 2016 and 2015, respectively, and ($28,000) and $23,000 for the six months ended January 31, 2016 and 2015, respectively.</a></td>
<td class="num">(34,050)<span></span>
</td>
<td class="num">(12,823)<span></span>
</td>
<td class="num">(53,454)<span></span>
</td>
<td class="nump">29,339<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income</a></td>
<td class="nump">$ 188,676<span></span>
</td>
<td class="nump">$ 316,090<span></span>
</td>
<td class="nump">$ 570,647<span></span>
</td>
<td class="nump">$ 796,924<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6758380544">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax', window );">Unrealized holding gains arising during the period, tax</a></td>
<td class="num">$ (17,000)<span></span>
</td>
<td class="num">$ (10,000)<span></span>
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<td class="num">$ (28,000)<span></span>
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<td class="nump">$ 23,000<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of tax expense (benefit) before reclassification adjustments of unrealized holding gain (loss) on available-for-sale securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e640-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e,f)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791906960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
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<td class="nump">$ 624,101<span></span>
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<td class="nump">$ 767,585<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">814,150<span></span>
</td>
<td class="nump">884,807<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDeferredCharges', window );">Amortization of deferred charges</a></td>
<td class="nump">170,079<span></span>
</td>
<td class="nump">181,870<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInvestments', window );">Realized (gain) loss on sale of marketable securities</a></td>
<td class="nump">38,538<span></span>
</td>
<td class="num">(386)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInUnbilledReceivables', window );">Other assets - unbilled receivables</a></td>
<td class="nump">192,022<span></span>
</td>
<td class="num">(17,813)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_OtherAssetsDeferredCharges', window );">- deferred charges</a></td>
<td class="num">(42,070)<span></span>
</td>
<td class="num">(414,970)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes', window );">Deferred income taxes</a></td>
<td class="nump">322,000<span></span>
</td>
<td class="nump">353,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="num">(583,334)<span></span>
</td>
<td class="num">(583,334)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInReceivables', window );">Receivables</a></td>
<td class="num">(51,407)<span></span>
</td>
<td class="num">$ (40,394)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_IncreaseDecreaseIInRealEstateTaxesRefundable', window );">Real estate tax refundable</a></td>
<td class="num">(16,474)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable', window );">Income taxes refundable</a></td>
<td class="nump">97,399<span></span>
</td>
<td class="num">$ (68,926)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidExpense', window );">Prepaid expenses</a></td>
<td class="nump">12,851<span></span>
</td>
<td class="num">(21,586)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayable', window );">Accounts payable</a></td>
<td class="nump">60,433<span></span>
</td>
<td class="num">(50,343)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities', window );">Payroll and other accrued liabilities</a></td>
<td class="num">(35,620)<span></span>
</td>
<td class="nump">207,873<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_IncreaseDecreaseInOtherTaxesPayable', window );">Other taxes payable</a></td>
<td class="nump">6,028<span></span>
</td>
<td class="nump">4,320<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Cash provided by operating activities</a></td>
<td class="nump">1,608,696<span></span>
</td>
<td class="nump">1,201,703<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash Flows From Investing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Capital expenditures</a></td>
<td class="num">(1,256,843)<span></span>
</td>
<td class="num">(871,925)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_PaymentsToSecurityDeposits', window );">Security deposits</a></td>
<td class="nump">78,908<span></span>
</td>
<td class="nump">39,262<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract', window );"><strong>Marketable securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities', window );">Receipts from sales or maturities</a></td>
<td class="nump">238,663<span></span>
</td>
<td class="nump">270,974<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireMarketableSecurities', window );">Payments for purchases</a></td>
<td class="num">(65,613)<span></span>
</td>
<td class="num">(302,246)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Cash (used) by investing activities</a></td>
<td class="num">(1,004,885)<span></span>
</td>
<td class="num">(863,935)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash Flows From Financing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInSecurityDeposits', window );">Increase - security deposits</a></td>
<td class="num">$ (81,007)<span></span>
</td>
<td class="nump">20,107<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Increase - mortgage debt</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">652,274<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Mortgage and other debt payments</a></td>
<td class="num">$ (74,127)<span></span>
</td>
<td class="num">(73,609)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Cash provided (used) by financing activities</a></td>
<td class="num">(155,134)<span></span>
</td>
<td class="nump">598,772<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Increase in cash and cash equivalents</a></td>
<td class="nump">448,677<span></span>
</td>
<td class="nump">936,540<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of period</a></td>
<td class="nump">4,085,704<span></span>
</td>
<td class="nump">1,892,760<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of period</a></td>
<td class="nump">$ 4,534,381<span></span>
</td>
<td class="nump">$ 2,829,300<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_IncreaseDecreaseIInRealEstateTaxesRefundable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(Increase) Decrease In Real Estate Taxes Refundable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_IncreaseDecreaseIInRealEstateTaxesRefundable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_IncreaseDecreaseInOtherTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_IncreaseDecreaseInOtherTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_IncreaseDecreaseInPayrollAndOtherAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_OtherAssetsDeferredCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other assets deferred charges during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_OtherAssetsDeferredCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_PaymentsToSecurityDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for security deposits during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_PaymentsToSecurityDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDeferredCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortization of deferred charges applied against earnings during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfDeferredCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (c)-(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27357-111563<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(c),9(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27405-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInIncomeTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInSecurityDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in security deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInSecurityDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInUnbilledReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period of the amount of revenue for work performed for which billing has not occurred, net of uncollectible accounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInUnbilledReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherDepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The other noncash expense, not otherwise specified in the taxonomy, charged against earnings in the period to allocate the cost of tangible and intangible assets over their remaining economic lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherDepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireMarketableSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash outflow for purchase of trading, available-for-sale securities and held-to-maturity securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26853-111562<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireMarketableSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778204592">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Records and Use of Estimates<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<td nowrap="nowrap" align="left" width="1%"><b><font size="2">1.</font></b></td>
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<p align="left"><font size="2">The accounting records are maintained in accordance with accounting principles generally accepted in the United States of America (&#147;GAAP&#148;). The preparation of the Company's financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses during the reporting period. The estimates that we make include allowance for doubtful accounts, depreciation and amortization, income tax assets and liabilities, fair value of marketable securities and revenue recognition. Estimates are based on historical experience where applicable or other assumptions that management believes are reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results may differ from those estimates under different assumptions or conditions.</font></p>
<p align="left"><font size="2">The interim financial statements are prepared pursuant to the requirements for reporting on Form 10-Q. The July 31, 2015 condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by GAAP. The interim financial statements and notes thereto should be read in conjunction with the financial statements and notes included in the Company's latest Form 10-K Annual Report for the fiscal year ended July 31, 2015. In the opinion of management, the interim financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for interim periods. The results of operations for the current period are not necessarily indicative of the results for the entire fiscal year ending July 31, 2016.</font></p>
<p align="left"><font size="2">The computation of the annual expected effective tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected operating income for the year and future periods, projections of the proportion of income (or loss), and permanent and temporary differences. The accounting estimates used to compute the provision for income taxes may change as new events occur, more experience is acquired, or as additional information is obtained. To the extent that the estimated annual effective tax rate changes during a quarter, the effect of the change on prior quarters is included in tax expense for the current quarter.</font></p>
<p align="left"><font size="2">On September 13, 2013, the U.S. Department of the Treasury and the Internal Revenue Service released final income tax regulations on the deduction and capitalization of expenditures related to tangible property (&#147;tangible property regulations&#148;). The tangible property regulations clarify and expand sections 162(a) and 263(a) of the Internal Revenue Code (&#147;IRC&#148;), which relate to amounts paid to acquire, produce, or improve tangible property. Additionally, the tangible property regulations provide final guidance under IRC section 167 regarding accounting for and retirement of depreciable property and regulations under IRC section 168 relating to the accounting for property under the Modified Accelerated Cost Recovery System. The tangible property regulations affect all taxpayers that acquire, produce, or improve tangible property, and generally apply to taxable years beginning on or after January 1, 2014. The Company implemented the tangible property regulations with the filing of the federal tax return for the year ended July 31, 2015.</font></p>
<p align="left"><font size="2">For the year ended July 31, 2015, after implementing the tangible property regulations, the Company incurred a federal net operating loss of $<font>8,191,403</font>. The Company was able to carryback $<font>1,582,003</font>, generating a federal income tax refund receivable of $<font>537,881</font>. The remainder of the federal net operating loss approximating $<font>6,609,000</font> will be available to offset future taxable income. In addition, as of July 31, 2015 the Company had state and city net operating loss carryforwards of approximately $<font>9,000,000</font> available to offset future state and city taxable income. The net operating loss carryforwards will expire, if not used, in 2035.</font></p>
<p align="left"><font size="2">New York State and New York City taxes for years through July 31, 2015 are calculated using the higher of taxes based on income or the respective capital-based franchise taxes. In April 2014, the New York State governor signed into law legislation overhauling the New York State franchise tax on corporations. The changes in the law will be effective for the Company's year ending July 31, 2016. The state capital-based tax will be phased out over a <font>7</font>-year period. As of July, 2015, the Company anticipates New York State taxes will be based on capital through 2022, and New York City taxes will be based on capital for the foreseeable future. Capital based franchise taxes are recorded to administrative and general expense.</font></p>
<p align="left"><font size="2">Due to the application of the capital-based tax while the net operating loss still applies, or due to the possible absence of State taxable income in the years beyond 2022 to which the State loss can be carried, the Company has not recorded the New York State or New York City tax benefit of its net operating loss carryforwards. Also, to reflect its expectation that reversal of temporary differences will not result in New York State or City tax based on income, as of July 31, 2015 the Company decreased the deferred tax asset, deferred tax liability, and deferred taxes on unrealized loss on available-for-sale securities by $<font>380,000</font>, $<font>771,000</font> and $<font>26,000</font>, respectively, resulting in a State and City deferred tax benefit of $<font>365,000</font>.</font></p>
<p align="left"><b><font size="2">Recent accounting pronouncements:</font></b></p>
<p align="left"><font size="2">In July 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Carryforward Exists.&#148; The Company adopted ASU 2013-11 in the fourth quarter of fiscal year ended July 31, 2015. The adoption of this standard did not have a significant impact on these condensed consolidated financial statements.</font></p>
<p align="left"><font size="2">In May 2014, the FASB issued an update (&#147;ASU 2014-09&#148;) establishing ASC Topic 606 Revenue from Contracts with Customers. ASU 2014-09 establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. ASU 2014-09 requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. ASU 2014-09 is effective for interim and annual reporting in fiscal years that begin after December 15, 2016. ASU 2015-14 extended the implementation date for fiscal years beginning after December 31, 2017. The adoption of the update on August 1, 2018 is not expected to have a significant impact on our consolidated financial statements.</font></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778407776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Per Share of Common Stock<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<p style="margin-top: 0pt; margin-bottom: 0pt;" align="left"><font style="font-family: Times New Roman;" size="2">Income per share has been computed by dividing the net income for the periods by the weighted average number of shares of common stock outstanding during the periods, adjusted for the purchase of treasury stock. Shares used in computing income per share were <font>2,015,780</font>&#160;for the six months ended January 31, 2016 and January 31, 2015. </font></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778294064">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Marketable Securities<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
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<td valign="top" nowrap="nowrap"><b><font size="2">3.</font></b></td>
<td width="100%" colspan="2"><b><font size="2">Marketable Securities:</font></b></td>
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<td colspan="3"><font size="2">&#160;</font></td>
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<td width="100%" colspan="2" style="text-align: left;"><font size="2">The Company categorizes marketable securities as either trading, available-for-sale or held-to-maturity. Trading securities are carried at fair value with unrealized gains and losses included in income. Available-for-sale securities are carried at fair value measurements using quoted prices in active markets for identical assets or liabilities with unrealized gains and losses recorded as a separate component of shareholders' equity. Held-to-maturity securities are carried at amortized cost. Dividends and interest income are accrued as earned. Realized gains and losses are determined on a specific identification basis. The Company reviews marketable securities for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recovered. The Company did not classify any securities as trading or held to maturity during the six months ended January 31, 2016 and July 31, 2015.</font></td>
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<td colspan="3"><font size="2">&#160;</font></td>
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<td></td>
<td width="100%" colspan="2" style="text-align: left;"><font size="2">The Company follows GAAP which establishes a fair value hierarchy that prioritizes the valuation techniques and creates the following three broad levels, with Level 1 valuation being the highest priority:</font></td>
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<td></td>
<td><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td>
<td width="100%" style="text-align: left;"><font size="2">Level 1 valuation inputs are quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date (e.g., equity securities traded on the New York Stock Exchange).</font></td>
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<tr>
<td><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td>
<td><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td>
<td width="100%">
<p align="left"><font size="2">Level 2 valuation inputs are from other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted market prices of similar assets or liabilities in active markets, or quoted market prices for identical or similar assets or liabilities in markets that are not active).</font></p>
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<td width="100%"><font size="2">&#160;</font></td>
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<td></td>
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<p align="left"><font size="2">Level 3 valuation inputs are unobservable (e.g., an entity's own data) and should be used to measure fair value to the extent that observable inputs are not available.</font></p>
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<td></td>
<td></td>
<td width="100%"><font size="2">&#160;</font></td>
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<td></td>
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<p align="left"><font size="2">Following is a description of the valuation methodologies used for assets measured at fair value on a recurring basis. There have been no changes in the methodologies used at January 31, 2016 and July 31, 2015.</font></p>
<p align="left"><font size="2">Equity securities are valued at the closing price reported on the active market on which the individual securities are traded that the Company has access to.</font></p>
<p align="left"><font size="2">Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Company are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (&#147;NAV&#148;) and to transact at that price. The mutual funds held by the Company are deemed to be actively traded.</font></p>
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<p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><font size="2">In accordance with the provisions of Fair Value Measurements, the following are the Company's financial assets measured on a recurring basis presented at fair value.</font></p>
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<td nowrap="nowrap" align="left" width="70%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" width="29%" colspan="23" style="text-align: center;"><b><u><font size="1">Fair value measurements at reporting date using</font></u></b></td>
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<td width="100%" colspan="25">&#160;</td>
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<td nowrap="nowrap" align="left" width="70%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Total</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="2%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="2%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Total</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
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<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">January 31,</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="2%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="2%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">July 31,</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
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<tr valign="bottom">
<td nowrap="nowrap" align="center" width="70%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><b><font size="1">Description</font></b></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Level 1</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Level 2</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Level 3</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">2015</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Level 1</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Level 2</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Level 3</font></td>
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<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="70%" style="background-color: #c0c0c0;"><b><font size="1">Assets:</font></b></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="70%"><font size="1">Marketable securities -</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%">&#160;</td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
</tr>
<tr valign="bottom" style="background-color: #ffffff;">
<td nowrap="nowrap" align="left" width="70%" style="background-color: #ffffff;"><font size="1">&#160;&#160;&#160;&#160;&#160;available-for-sale</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>1,168,462</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>1,168,462</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>1,461,504</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>1,461,504</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>&#150;</font></font></td>
</tr>

</table>
</div>
<br/>
<p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><b><font size="2">Fair Value of Investments in Entities that Use NAV</font></b></p>
<p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><font size="2">The following table summarizes investments measured at fair value based on NAV per share as of January 31, 2016 and July 31, 2015, respectively.</font></p>
<div>
<table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;">

<tr valign="bottom">
<td nowrap="nowrap" align="left" width="89%"><u></u></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="3%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Unfunded</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Redemption Frequency</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Redemption</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="center" width="89%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">January 31, 2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Fair Value</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Commitments</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">(if currently eligible)</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Notice Period</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"><font size="2">First Eagle Global CL I</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font size="2"><font>258,304</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">None</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="89%"><font size="2">Parnasus Core Equity Investor CL</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%"><font size="2"><font>287,101</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">None</font></td>
</tr>
<tr>
<td width="100%" colspan="10">&#160;</td>
</tr>
<tr valign="bottom" style="background-color: #ffffff;">
<td nowrap="nowrap" align="left" width="89%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="3%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"><font size="2">Unfunded</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"><font size="2">Redemption Frequency</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"><font size="2">Redemption</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="center" width="89%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">July 31, 2015</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Fair Value</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Commitments</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">(if currently eligible)</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Notice Period</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"><font size="2">First Eagle Global CL I</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font size="2"><font>271,462</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">None</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="89%"><font size="2">Parnasus Core Equity Investor CL</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%"><font size="2"><font>305,626</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">None</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"><font size="2">Columbia Flexible Income CL A</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font size="2"><font>271,076</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">None</font></td>
</tr>

</table>
</div>
<br/>
<p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><font size="2">As of January 31, 2016 and July 31, 2015, the Company's marketable securities were classified as follows:</font></p>
<div>
<table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;">

<tr valign="bottom">
<td nowrap="nowrap" align="left" width="66%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="16%" colspan="11" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">January 31, 2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="15%" colspan="11" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">July 31, 2015</font></td>
</tr>
<tr>
<td nowrap="nowrap" align="left" width="66%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Gross</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="4%" colspan="2" style="text-align: center;"><font size="1">Gross</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Gross</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Gross</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
</tr>
<tr>
<td nowrap="nowrap" align="left" width="66%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Unrealized</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="4%" colspan="2" style="text-align: center;"><font size="1">Unrealized</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Fair</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Unrealized</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Unrealized</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Fair</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="66%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Cost</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Gains</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Losses</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Value</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Cost</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Gains</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Losses</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Value</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"><font size="1">Noncurrent:</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="3%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="66%"><font size="1">Available-for-sale:</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="3%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"><font size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mutual funds</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>474,669</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>70,736</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>545,405</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>719,245</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>131,639</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>2,720</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>848,164</font></font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="66%"><font size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Equity securities</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>478,214</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>144,843</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>623,057</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>445,227</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>168,113</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>613,340</font></font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>952,883</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>215,579</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>1,168,462</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>1,164,472</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>299,752</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>2,720</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>1,461,504</font></font></td>
</tr>

</table>
</div>
<br/>
<p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><font size="2">The Company's debt and equity securities, gross unrealized losses and fair value, aggregated by investment category and length of time that the investment securities have been in a continuous unrealized loss position at January 31, 2016 are as follows:</font></p>
<div>
<div>
<table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; border-collapse: collapse; margin-left: 0.1px;">

<tr valign="bottom">
<td nowrap="nowrap" align="left" style="width: 1%;"></td>
<td nowrap="nowrap" align="left" style="width: 80%;"></td>
<td nowrap="nowrap" style="text-align: center; width: 1%;"></td>
<td nowrap="nowrap" align="center" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; width: 0%;"><font size="2">January 31, 2016</font></td>
<td nowrap="nowrap" style="text-align: center; width: 0%;"></td>
<td nowrap="nowrap" align="center" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; width: 0%;"><font size="2">July 31, 2015</font></td>
</tr>
<tr>
<td nowrap="nowrap" align="left"></td>
<td nowrap="nowrap" align="left"></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" colspan="2" style="text-align: center;"><font size="2">Less Than</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" colspan="2" style="text-align: center;"><font size="2">Less Than</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left"></td>
<td nowrap="nowrap" align="left"><font style="text-decoration: underline; font-size: 10pt;">Mutual funds</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Fair Value</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">12 Months</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Fair Value</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">12 Months</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" style="text-align: center; background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" style="text-align: left; background-color: #c0c0c0;"><br/></td>
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" style="text-align: left; width: 22px; border-bottom-color: black; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;">&#160;</td>
<td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;">&#160;</td>
<td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>271,076</font></font></td>
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>2,720</font></font></td>
</tr>

</table>
</div>
</div>
<br/>
<p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><font size="2"></font><br/></p>
<p align="left" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><font size="2">Investment income consists of the following:</font></p>
<div>
<div>
<table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; border-collapse: collapse; margin-left: 0.1px;">

<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;">&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center;" colspan="7"><font size="2">Three Months Ended</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="8%" colspan="6" style="text-align: center;"><font size="2">Six Months Ended</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;">&#160;</td>
<td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="7"><font size="2">January 31</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="8%" colspan="6" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">January 31</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;">&#160;</td>
<td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="3"><font size="2">2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="3"><font size="2">2015</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="4%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">2015</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="90%" style="background-color: #c0c0c0;"><font size="2">Gain (loss) on sale of marketable securities</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0;"><font style="font-size: 10pt;"><font>(38,538</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">)</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><br/></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">$</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0;"><font style="font-size: 10pt;"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;"><font>&#160;(38,538</font></font></td>
<td nowrap="nowrap" align="right" width="3%" style="width: 20px; text-align: left; background-color: #c0c0c0;"><font style="font-size: 10pt;">)</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="2"><font>386</font></font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"><font size="2">Interest income</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;">&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right;"><font style="font-size: 10pt;"><font>756</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right;"><font style="font-size: 10pt;"><font>662</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="right" width="3%"><font style="font-size: 10pt;"><font>1,665</font></font></td>
<td nowrap="nowrap" align="right" width="3%" style="width: 20px;"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="right" width="2%"><font size="2"><font>1,287</font></font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="90%" style="background-color: #c0c0c0;"><font size="2">Dividend income</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>37,702</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
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<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"><font style="font-size: 10pt;"><font>44,015</font></font></td>
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<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"><font size="2"><font>30,871</font></font></td>
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<td nowrap="nowrap" align="left" width="90%"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;">&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">$</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>(80</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">)</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"><br/></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">$</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>26,353</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%"><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font style="font-size: 10pt;">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font style="font-size: 10pt;"><font>7,142</font></font></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%"><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font size="2"><font>32,544</font></font></td>
</tr>

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&#160; &#160;</div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for  investments in certain debt and equity securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -Glossary Debt Security<br> -URI http://asc.fasb.org/extlink&amp;oid=6509901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27290-111563<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6379141&amp;loc=d3e15032-111544<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27232-111563<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -Glossary Equity Security<br> -URI http://asc.fasb.org/extlink&amp;oid=6511694<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 320<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6957658&amp;loc=d3e62557-112803<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27161-111563<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27357-111563<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27405-111563<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6606092784">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments and Credit Risk Concentrations<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap"><b><font style="font-family: Times New Roman;" size="2">4.</font></b></td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt;" align="left"><font style="font-family: Times New Roman;" size="2">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. </font></p>
<p align="left"><font style="font-family: Times New Roman;" size="2">The Company derives rental income from <font>forty-nine</font> tenants, of which one tenant accounted for <font>18.73</font>% and another tenant accounted for <font>15.50</font>% of rental income during the six months ended January 31, 2016. No other tenant accounted for more than 10% of rental income during the same period. </font></p>
<p align="left" style="margin-bottom: 0pt;"><font style="font-family: Times New Roman;" size="2">The Company has one irrevocable Letter of Credit totaling $<font>230,000</font>&#160;at January 31, 2016 and July 31, 2015 provided by a tenant as a security deposit. </font></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments and credit risk concentrations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778357056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt - Mortgage<br></strong></div></th>
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<td valign="top" nowrap="nowrap"><b><font size="2">5.</font></b></td>
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<td nowrap="nowrap" align="left" width="1%"></td>
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<td nowrap="nowrap" align="center" width="5%" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">July 31, 2015</font></td>
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<td nowrap="nowrap" align="left" width="84%"></td>
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<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Annual</font></td>
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<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
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<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"><font size="2">Due</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"><font size="2">Due</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="2%" colspan="2" style="text-align: center;"><font size="2">Due</font></td>
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<td nowrap="nowrap" align="left" width="84%">&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
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<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
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<td nowrap="nowrap" align="left" width="84%"></td>
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<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Date</font></td>
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<td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">One Year</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">One Year</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="2%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">One Year</font></td>
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<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="left" width="84%" style="background-color: #c0c0c0;"><font size="2">Bond St. building, Brooklyn, NY</font></td>
<td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"><font size="2"><font>3.54</font>%</font></td>
<td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="right" width="1%" style="background-color: #c0c0c0;"><font size="2"><font>2/01/20</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>153,511</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>5,709,650</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>150,763</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>5,786,525</font></font></td>
</tr>

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<tr>
<td><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td>
<td width="100%" style="text-align: left;"><font size="2">The Company, on August 19, 2004, closed a loan with a bank for a $<font>12,000,000</font> multiple draw term loan. The loan consisted of: a) a permanent, first mortgage loan to refinance an existing first mortgage loan affecting the Fishkill, New York property, which matured on July 1, 2004 (the &#147;First Permanent Loan&#148;), b) a permanent subordinate mortgage loan in the amount of $<font>1,870,000</font> (the &#147;Second Permanent Loan&#148;), and c) multiple, successively subordinate loans in the amount of $<font>8,295,274</font> (&#147;Subordinate Building Loans&#148;). The Company, in February 2008, converted the loan totaling $<font>12,000,000</font> to a <font>seven</font> (7) year permanent mortgage loan. The interest rate on conversion was <font>6.98</font>%. On January 9, 2015, the Company refinanced the loan for $<font>6,000,000</font>, which included the outstanding balance as of January 2015 in the amount of $<font>5,347,726</font> and an additional borrowing of $<font>652,274</font>. The loan is for a period of <font>five</font> years with a payment based on a <font>twenty-five</font> year amortization period. The interest rate for this period is fixed at <font>3.54</font>% per annum. The mortgage loan is secured by the Bond Street building in Brooklyn, New York.</font></td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment - at cost<br></strong></div></th>
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<tr valign="bottom">
<td style="text-align: center; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center"></td>
<td style="padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';" align="center">&#160;</td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="2"><font style="font-family: Times New Roman;" size="2">January 31</font><br/><font style="font-family: Times New Roman;" size="2">2016</font></td>
<td style="padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';" align="center">&#160;</td>
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<tr valign="bottom">
<td style="padding: 0px; font-family: 'Times New Roman'; width: 67%; background-color: #c0c0c0;" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">Property:</font></td>
<td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #c0c0c0;" align="center">&#160;</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 15%; background-color: #c0c0c0;" nowrap="nowrap" align="center" colspan="2">&#160;</td>
<td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #c0c0c0;" align="center">&#160;</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 15%; background-color: #c0c0c0;" colspan="2" align="center"></td>
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<tr valign="bottom">
<td style="font-family: 'Times New Roman'; width: 86%;" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2"> Buildings and improvements</font></td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; width: 1%;" align="left">$</td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%;" nowrap="nowrap" align="right"><font>76,854,272</font></td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; width: 1%;" align="left">$</td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%;" nowrap="nowrap" align="right"><font>76,289,486</font></td>
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<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2"> Improvements to leased property</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>1,478,012</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>1,478,012</font></td>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Land</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>6,067,805</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>6,067,805</font></td>
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<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Construction in progress</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>1,331,099</font></td>
<td style="font-family: 'times new roman'; background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left">&#160;</td>
<td style="font-family: 'times new roman'; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font style="font-family: Times New Roman;" size="2"><font>639,042</font></font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>85,731,188</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>84,474,345</font></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Less accumulated depreciation</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>37,208,925</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>36,413,975</font></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property - net</font></td>
<td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>48,522,263</font></td>
<td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>48,060,370</font></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"></td>
<td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"></td>
<td style="vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">Fixtures and equipment and other:</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Fixtures and equipment</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>144,544</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>144,544</font></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other fixed assets</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>235,623</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>235,623</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>380,167</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>380,167</font></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Less accumulated depreciation</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>268,345</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>249,145</font></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Fixtures and equipment and other - net</font></td>
<td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" align="left"></td>
<td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" nowrap="nowrap" align="right"><font>111,822</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap;"><br/></td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" align="left"></td>
<td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" nowrap="nowrap" align="right"><font>131,022</font></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"></td>
<td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"></td>
<td style="vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property and equipment - net</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left">$</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>48,634,085</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left">$</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>48,191,392</font></td>
</tr>
<tr>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"></td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"></td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"></td>
</tr>

</table>
</div>
</div>
</div>
</div>
<font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Construction in progress includes:</font>
<div class="CursorPointer">
<div>
<div style="margin-left: 19pt;">
<table style="line-height: 14pt; border-collapse: collapse; width: 100%; /* margin-left: 0.1px;" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="vertical-align: top; text-align: left;" nowrap="nowrap" align="left"></td>
<td style="vertical-align: top; text-align: left; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap;" nowrap="nowrap" align="right"></td>
<td style="vertical-align: top; text-align: left; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="vertical-align: bottom; font-size: 10pt; white-space: nowrap;" nowrap="nowrap" align="right"></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="center"></td>
<td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-family: 'Times New Roman';" align="center">&#160;</td>
<td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" align="center" colspan="2"><font style="font-family: Times New Roman;" size="2">January 31</font><br/><font style="font-family: Times New Roman;" size="2">2016</font></td>
<td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-family: 'Times New Roman';" align="center">&#160;</td>
<td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" align="center" colspan="2"><font style="font-family: Times New Roman;" size="2">July 31</font><br/><font style="font-family: Times New Roman;" size="2">2015</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">Building improvements at 9 Bond Street in Brooklyn, NY</font></td>
<td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; background-color: #c0c0c0;">&#160;</td>
<td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; background-color: #c0c0c0;" align="left">$</td>
<td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; background-color: #c0c0c0;" nowrap="nowrap" align="right"><font>188,387</font></td>
<td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;">&#160;</td>
<td style="padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;" align="left">$</td>
<td style="padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;" nowrap="nowrap" align="right"><font>144,041</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" style="width: 20px;"><font style="font-size: 10pt;">Building improvements at 25 Elm Place in Brooklyn, NY</font></td>
<td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 20px;">&#160;</td>
<td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 20px;" align="left">&#160;</td>
<td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 20px;" nowrap="nowrap" align="right"><font>1,054,132</font></td>
<td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;">&#160;</td>
<td style="padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;" align="left">&#160;</td>
<td style="padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;" nowrap="nowrap" align="right"><font>495,001</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" style="width: 86%; background-color: #c0c0c0;"><font style="font-size: 10pt;">Building improvements at Jamaica, NY</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;">&#160;</td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" align="left"></td>
<td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" nowrap="nowrap" align="right"><font>88,580</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; width: 5%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" nowrap="nowrap" align="right"><font style="font-family: Times New Roman;" size="2"><font>&#150;</font></font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left"></td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap;">&#160;</td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" align="left">$</td>
<td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" nowrap="nowrap" align="right"><font>1,331,099</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" nowrap="nowrap" align="right"><font>639,042</font></td>
</tr>

</table>
</div>
</div>
</div>
</div><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13-14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=d3e1361-107760<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791646112">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note Payable - Related Party<br></strong></div></th>
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<p style="margin-top: 0pt; margin-bottom: 0pt;" align="left"><font style="font-family: Times New Roman;" size="2">On December 15, 2004, the Company borrowed $<font>1,000,000</font> on an unsecured basis from a former director of the Company, who at the time was also a greater than <font>10</font>% beneficial owner of the outstanding common stock of the Company. The former director passed away in November 2012 and the note is currently an asset of the estate of the former director. Interest payments pursuant to the note have been assigned to a trust provided for by the will of the deceased former director. The loan has been repeatedly renewed to its current maturity date of&#160;<font>December 15, 2016</font> at an interest rate of <font>5</font>% per annum. The note is prepayable in whole or in part at any time without penalty. The constant quarterly payment of interest is&#160;$<font>12,500</font>. The interest paid was $<font>25,000</font> for the six months ended January 31, 2016 and 2015, respectively. </font></p>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610206928">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unbilled Receivables and Rental Income<br></strong></div></th>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6602775072">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Employees' Retirement Plan<br></strong></div></th>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap"><b><font style="font-family: Times New Roman;" size="2">9.</font></b></td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
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<p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman;" size="2"></font></p><p style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman;" size="2">The Company sponsors a noncontributory Money Purchase Plan covering substantially all of its non-union employees. Operations were charged&#160;$<font>98,296</font>&#160;and $<font>195,718</font> for the three and six months ended January 31, 2016, respectively, and $<font>115,675</font> and $<font>210,495</font> as contributions to the Plan for the three and six months ended January 31, 2015, respectively.</font></p> <p align="left"><b><font style="font-family: Times New Roman;" size="2">Multi-employer plan: </font></b></p> <p align="left"><font style="font-family: Times New Roman;" size="2">The Company contributes to a union sponsored multi-employer pension plan covering its union employees. The Company contributions to the pension plan were $<font>16,440</font>&#160;and $<font>29,593</font> for the three and six months ended January 31, 2016, respectively, and $<font>13,571</font> and $<font>23,908</font> for the three and six months ended January 31, 2015, respectively. Contributions and costs are determined in accordance with the provisions of negotiated labor contracts or terms of the plans. The Company also contributes to union sponsored health benefit plans.</font></p><p align="left"><font style="font-family: Times New Roman;" size="2"></font></p>
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<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"><font style="font-family: Times New Roman;" size="2">Yes</font></td>
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<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" nowrap="nowrap">&#160;</td>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="50%"><font style="font-family: Times New Roman;" size="2">Contract expiration date:</font></td>
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left" width="49%"><font style="font-family: Times New Roman;" size="2">November 30, 2016</font></td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Information<br></strong></div></th>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap"><b><font style="font-family: Times New Roman;" size="2">10.</font></b></td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
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<td></td>
<td style="font-family: 'Times New Roman';" width="100%"><font style="font-family: Times New Roman;" size="2">For purposes of reporting cash flows, the Company considers cash equivalents to consist of short-term highly liquid investments with maturities of three (3) months or less, which are readily convertible into cash.</font></td>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: 'times new roman', times; font-size: 10pt;">Supplemental disclosure:</font></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap" colspan="7" align="center"><font style="font-family: 'times new roman', times; font-size: 10pt;">Six Months Ended</font></td>
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<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="7"><font style="font-family: 'times new roman', times; font-size: 10pt;">January 31</font></td>
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<tr valign="bottom">
<td nowrap="nowrap" align="center"></td>
<td nowrap="nowrap" align="center"></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">2016</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="center"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td>
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<td style="text-align: left; background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" align="center"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr valign="bottom">
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<td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
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<td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 3%; background-color: #c0c0c0;" nowrap="nowrap" align="right"><font>233,622</font></td>
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<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right" colspan="2"><font>23,654</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">323,926</font></font></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610711712">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Common Stock<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap"><b><font style="font-family: Times New Roman;" size="2">11.</font></b></td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" nowrap="nowrap">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
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<td></td>
<td style="font-family: 'Times New Roman';" width="100%"><font style="font-family: Times New Roman;" size="2">The Company has one class of common stock with identical voting rights and rights to liquidation.</font></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778294064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accumulated Other Comprehensive Income<br></strong></div></th>
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<td class="text">&#160;<span></span>
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<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div style="display: block; ;display: block;"> <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;">  <tr> <td valign="top" nowrap="nowrap"><strong><font size="2">12.</font></strong></td> <td width="100%"> <p align="left"><b><font size="2">Accumulated Other Comprehensive Income:</font></b></p> </td> </tr> <tr> <td valign="top" nowrap="nowrap"></td> <td width="100%">&#160;</td> </tr> <tr> <td valign="top" nowrap="nowrap"></td> <td width="100%"> <p align="left"><font size="2">The only component of accumulated other comprehensive income is unrealized gains (loss) on available-for-sale securities.</font></p> <p align="left"><font size="2">A summary of the changes in accumulated other comprehensive income for the three and six months ended January 31, 2016 and 2015 is as follows:</font></p> </td> </tr>  </table> <br/> <div><table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;">  <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td> <td nowrap="nowrap" align="left" width="76%"></td> <td nowrap="nowrap" width="11%" colspan="7" style="text-align: center;"><font size="2"><font size="2">Three Months Ended</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="11%" colspan="7" style="text-align: center;"><font size="2"><font size="2">Six Months Ended</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"></td> <td nowrap="nowrap" align="center" width="11%" colspan="7" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2">January 31</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" align="center" width="11%" colspan="7" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2">January 31</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"></td> <td nowrap="nowrap" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"><font size="2"><font size="2">2016</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"><font size="2"><font size="2">2015</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"><font size="2"><font size="2">2016</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"><font size="2"><font size="2">2015</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"></td> <td nowrap="nowrap" align="center" width="4%" colspan="2"><font size="2"><font size="2">(Unaudited)</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" align="center" width="5%" colspan="3"><font size="2"><font size="2">(Unaudited)</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" align="center" width="5%" colspan="3"><font size="2"><font size="2">(Unaudited)</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" align="center" width="5%" colspan="3"><font size="2"><font size="2">(Unaudited)</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: 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width="1%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="3%"></td> <td nowrap="nowrap" align="left" width="1%"></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unrealized gains (loss) on available-for-sale</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(51,050</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"><font size="2">)</font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(22,823</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">)</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(81,454</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">)</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>52,339</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Tax effect</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font>17,000</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2"><font>10,000</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2"><font>28,000</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2"><font>(23,000</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2">)</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unrealized gains (loss) on available-for-sale</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities, net of tax effect</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font>(34,050</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2">)</font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(12,823</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2">)</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(53,454</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2">)</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>29,339</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> </tr> <tr> <td width="1%"></td> <td width="99%" colspan="16" style="background-color: rgb(192, 192, 192);"><font size="2">&#160;</font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"><font size="2"><font size="2">Ending balance, net of tax effect</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2">$</font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2"><font>142,579</font></font></font></td> <td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2">$</font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2"><font>158,751</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"></td> <td nowrap="nowrap" align="right" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2">$</font></font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2"><font>142,579</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2">$</font></font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2"><font>158,751</font></font></font></td> <td nowrap="nowrap" 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated Other Comprehensive Income [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for tabular information relating to Other Comprehensive Income (OCI) as is applicable to noncontrolling interests. This text block may also include OCI relative to the filing entity, the aforementioned noncontrolling interest OCI, as well as OCI on a consolidated basis.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Entry into a Material Definitive Agreement<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap"><b><font style="font-family: Times New Roman;" size="2">13.</font></b></td>
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<td style="font-family: 'Times New Roman';" width="100%"><font style="font-family: Times New Roman;" size="2">On June 16, 2014, the Company entered into a Second Amendment of Lease (the "Amendment") with 33 Bond St. LLC ("Bond"), its landlord, for certain truck bays and approximately 1,000 square feet located at the cellar level within a garage at Livingston and Bond Street ("Premises"). Pursuant to the Amendment, (1) a lease option for the Premises was exercised extending the lease until December 8, 2043, (2) the Company, simultaneously with the execution of the Amendment, vacated the Premises so that Bond may demolish the building in which the Premises is located in order to develop and construct a new building at the location, and (3) Bond agreed to redeliver to the Company possession of the reconfigured Premises after construction.</font></td>
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<td style="font-family: 'Times New Roman';" width="100%"><font style="font-family: Times New Roman;" size="2">As consideration under the Amendment, Bond agreed to pay the Company a total of&#160;$<font>3,500,000</font>. Upon execution of the Amendment, the Company recorded $3,500,000 to deferred revenue to be amortized to revenue to temporarily vacate the premises over the expected vacate period of 36 months. Bond tendered $<font>2,250,000</font> simultaneously with the execution of the Amendment, and the balance due of $<font>1,250,000</font> on June 16, 2015 has been received by the Company.</font></td>
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<td style="font-family: 'Times New Roman';" width="100%"><font style="font-family: Times New Roman;" size="2">In connection with the Amendment, the parties also agreed to settle a pending lawsuit in the Supreme Court of the State of New York, Kings County, Index No. 50796/13 (the "Action"), in which the Company sought, among other things, a declaratory judgment that it validly renewed the lease for the Premises, and Bond sought, among other things, a declaratory judgment that the lease expired by its terms on December 8, 2013. Pursuant to a stipulation of settlement, filed on June 16, 2014, the Action, including all claims and counterclaims, has been discontinued with prejudice, without costs or attorneys' fees to any party as against the other. The stipulation of settlement also contains general releases by both parties of all claims.</font></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778204592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Contingencies<br></strong></div></th>
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<td style="font-family: 'Times New Roman'; width: 2.5%;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>14.</b></font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">There are various lawsuits and claims pending against the Company. It is the opinion of management that the resolution of these matters will not have a material adverse effect on the Company's Condensed Consolidated Financial Statements.</font></td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">If the Company sells, transfers, disposes of, or demolishes 25 Elm Place, Brooklyn, New York, then the Company may be liable to create a condominium unit for the loading dock. The necessity of creating the condominium unit and the cost of such condominium unit cannot be determined at this time.</font></td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Because of defective workmanship and breach of contract, the Company commenced litigation against a contractor to pay damages and return in full $<font>376,467</font> of a deposit paid when work commenced to replace a roof on the Fishkill, New York building. As of January 31, 2016, this deposit is included in other assets on the Condensed Consolidated Balance Sheet in security deposits. Based on limited information available at this time, the Company cannot predict the outcome of this matter and expects to vigorously pursue this contractor until the deposit is returned and damages are paid.</font></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6757915456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Marketable Securities (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<td nowrap="nowrap" width="2%" style="text-align: center;"></td>
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<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
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<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Total</font></td>
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<td nowrap="nowrap" width="2%" style="text-align: center;"></td>
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<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="70%"><font size="1">Marketable securities -</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%">&#160;</td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
</tr>
<tr valign="bottom" style="background-color: #ffffff;">
<td nowrap="nowrap" align="left" width="70%" style="background-color: #ffffff;"><font size="1">&#160;&#160;&#160;&#160;&#160;available-for-sale</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>1,168,462</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>1,168,462</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>1,461,504</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>1,461,504</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #ffffff;"><font size="1"><font>&#150;</font></font></td>
</tr>

</table>
</div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock', window );">Schedule of investments measured at fair value</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;">

<tr valign="bottom">
<td nowrap="nowrap" align="left" width="89%"><u></u></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="3%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Unfunded</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Redemption Frequency</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Redemption</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="center" width="89%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">January 31, 2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Fair Value</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Commitments</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">(if currently eligible)</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Notice Period</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"><font size="2">First Eagle Global CL I</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font size="2"><font>258,304</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">None</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="89%"><font size="2">Parnasus Core Equity Investor CL</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%"><font size="2"><font>287,101</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">None</font></td>
</tr>
<tr>
<td width="100%" colspan="10">&#160;</td>
</tr>
<tr valign="bottom" style="background-color: #ffffff;">
<td nowrap="nowrap" align="left" width="89%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" align="left" width="3%" style="background-color: #ffffff;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"><font size="2">Unfunded</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"><font size="2">Redemption Frequency</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #ffffff;"><font size="2">Redemption</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="center" width="89%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">July 31, 2015</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Fair Value</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Commitments</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">(if currently eligible)</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Notice Period</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"><font size="2">First Eagle Global CL I</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font size="2"><font>271,462</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">None</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="89%"><font size="2">Parnasus Core Equity Investor CL</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%"><font size="2"><font>305,626</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">None</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="89%" style="background-color: #c0c0c0;"><font size="2">Columbia Flexible Income CL A</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font size="2"><font>271,076</font></font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">n/a</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">Daily</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center; background-color: #c0c0c0;"><font size="2">None</font></td>
</tr>

</table>
</div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketableSecuritiesTextBlock', window );">Schedule of classified marketable securities</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;">

<tr valign="bottom">
<td nowrap="nowrap" align="left" width="66%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="16%" colspan="11" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">January 31, 2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="15%" colspan="11" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">July 31, 2015</font></td>
</tr>
<tr>
<td nowrap="nowrap" align="left" width="66%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Gross</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="4%" colspan="2" style="text-align: center;"><font size="1">Gross</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Gross</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Gross</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
</tr>
<tr>
<td nowrap="nowrap" align="left" width="66%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Unrealized</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="4%" colspan="2" style="text-align: center;"><font size="1">Unrealized</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Fair</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Unrealized</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Unrealized</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="3%" colspan="2" style="text-align: center;"><font size="1">Fair</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="66%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Cost</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Gains</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Losses</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Value</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Cost</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Gains</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Losses</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1">Value</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"><font size="1">Noncurrent:</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="3%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="2%" style="background-color: #c0c0c0;"></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="66%"><font size="1">Available-for-sale:</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="3%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="2%"></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"><font size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mutual funds</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>474,669</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>70,736</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>545,405</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>719,245</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>131,639</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>2,720</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="1">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="1"><font>848,164</font></font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="66%"><font size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Equity securities</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>478,214</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>144,843</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>623,057</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>445,227</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>168,113</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="1"><font>613,340</font></font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="66%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>952,883</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>215,579</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>1,168,462</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>1,164,472</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>299,752</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>2,720</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="1"><font>1,461,504</font></font></td>
</tr>

</table>
</div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock', window );">Schedule of investment securities have been in a continuous unrealized loss position</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; border-collapse: collapse; margin-left: 0.1px;">

<tr valign="bottom">
<td nowrap="nowrap" align="left" style="width: 1%;"></td>
<td nowrap="nowrap" align="left" style="width: 80%;"></td>
<td nowrap="nowrap" style="text-align: center; width: 1%;"></td>
<td nowrap="nowrap" align="center" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; width: 0%;"><font size="2">January 31, 2016</font></td>
<td nowrap="nowrap" style="text-align: center; width: 0%;"></td>
<td nowrap="nowrap" align="center" colspan="5" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; width: 0%;"><font size="2">July 31, 2015</font></td>
</tr>
<tr>
<td nowrap="nowrap" align="left"></td>
<td nowrap="nowrap" align="left"></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" colspan="2" style="text-align: center;"><font size="2">Less Than</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" colspan="2" style="text-align: center;"></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" colspan="2" style="text-align: center;"><font size="2">Less Than</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left"></td>
<td nowrap="nowrap" align="left"><font style="text-decoration: underline; font-size: 10pt;">Mutual funds</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Fair Value</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">12 Months</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">Fair Value</font></td>
<td nowrap="nowrap" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">12 Months</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" style="text-align: center; background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" style="text-align: left; background-color: #c0c0c0;"><br/></td>
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" style="text-align: left; width: 22px; border-bottom-color: black; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;">&#160;</td>
<td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;">&#160;</td>
<td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>271,076</font></font></td>
<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>2,720</font></font></td>
</tr>

</table>
</div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeTextBlock', window );">Schedule of investment income</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; border-collapse: collapse; margin-left: 0.1px;">

<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;">&#160;</td>
<td nowrap="nowrap" width="1%" style="text-align: center;" colspan="7"><font size="2">Three Months Ended</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="8%" colspan="6" style="text-align: center;"><font size="2">Six Months Ended</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;">&#160;</td>
<td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="7"><font size="2">January 31</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="8%" colspan="6" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">January 31</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"></td>
<td nowrap="nowrap" width="1%" style="text-align: center;">&#160;</td>
<td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="3"><font size="2">2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;" colspan="3"><font size="2">2015</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="4%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">2016</font></td>
<td nowrap="nowrap" width="1%" style="text-align: center;"></td>
<td nowrap="nowrap" align="center" width="3%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2">2015</font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="90%" style="background-color: #c0c0c0;"><font size="2">Gain (loss) on sale of marketable securities</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0;"><font style="font-size: 10pt;"><font>(38,538</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">)</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><br/></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">$</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0;"><font style="font-size: 10pt;"><font>&#150;</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">$</font></td>
<td nowrap="nowrap" align="right" width="3%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;"><font>&#160;(38,538</font></font></td>
<td nowrap="nowrap" align="right" width="3%" style="width: 20px; text-align: left; background-color: #c0c0c0;"><font style="font-size: 10pt;">)</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font size="2">$</font></td>
<td nowrap="nowrap" align="right" width="2%" style="background-color: #c0c0c0;"><font size="2"><font>386</font></font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"><font size="2">Interest income</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;">&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right;"><font style="font-size: 10pt;"><font>756</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right;"><font style="font-size: 10pt;"><font>662</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="right" width="3%"><font style="font-size: 10pt;"><font>1,665</font></font></td>
<td nowrap="nowrap" align="right" width="3%" style="width: 20px;"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="left" width="1%"></td>
<td nowrap="nowrap" align="right" width="2%"><font size="2"><font>1,287</font></font></td>
</tr>
<tr valign="bottom" style="background-color: #c0c0c0;">
<td nowrap="nowrap" align="left" width="90%" style="background-color: #c0c0c0;"><font size="2">Dividend income</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>37,702</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>25,691</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; background-color: #c0c0c0; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"><font style="font-size: 10pt;"><font>44,015</font></font></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #c0c0c0;"><font size="2"><font>30,871</font></font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left" width="90%"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;">&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">$</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>(80</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">)</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px;"><br/></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">$</font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; text-align: right; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>26,353</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="width: 20px; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%"><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font style="font-size: 10pt;">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font style="font-size: 10pt;"><font>7,142</font></font></td>
<td nowrap="nowrap" align="right" width="3%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%"><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="right" width="2%" style="border-bottom-width: 2.8pt !important;border-bottom-style: double !important;border-bottom-color: rgb(0, 0, 0) !important;"><font size="2"><font>32,544</font></font></td>
</tr>

</table>
</div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19279-110258<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a,b,bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2C<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=SL7498348-110258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(a),(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791093360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt - Mortgage (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
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<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>5,709,650</font></font></td>
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<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>150,763</font></font></td>
<td nowrap="nowrap" align="left" width="1%" style="background-color: #c0c0c0;">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td>
<td nowrap="nowrap" align="center" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double; background-color: #c0c0c0;"><font size="2"><font>5,786,525</font></font></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6606857152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment - at cost (Tables)<br></strong></div></th>
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<td style="padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';" align="center">&#160;</td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="2"><font style="font-family: Times New Roman;" size="2">January 31</font><br/><font style="font-family: Times New Roman;" size="2">2016</font></td>
<td style="padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';" align="center">&#160;</td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="2"><font style="font-family: Times New Roman;" size="2">July 31</font><br/><font style="font-family: Times New Roman;" size="2">2015</font></td>
</tr>
<tr valign="bottom">
<td style="padding: 0px; font-family: 'Times New Roman'; width: 67%; background-color: #c0c0c0;" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">Property:</font></td>
<td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #c0c0c0;" align="center">&#160;</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 15%; background-color: #c0c0c0;" nowrap="nowrap" align="center" colspan="2">&#160;</td>
<td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #c0c0c0;" align="center">&#160;</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 15%; background-color: #c0c0c0;" colspan="2" align="center"></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman'; width: 86%;" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2"> Buildings and improvements</font></td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; width: 1%;" align="left">$</td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%;" nowrap="nowrap" align="right"><font>76,854,272</font></td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; width: 1%;" align="left">$</td>
<td style="font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 5%;" nowrap="nowrap" align="right"><font>76,289,486</font></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2"> Improvements to leased property</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>1,478,012</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>1,478,012</font></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Land</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>6,067,805</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>6,067,805</font></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Construction in progress</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>1,331,099</font></td>
<td style="font-family: 'times new roman'; background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left">&#160;</td>
<td style="font-family: 'times new roman'; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font style="font-family: Times New Roman;" size="2"><font>639,042</font></font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>85,731,188</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>84,474,345</font></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Less accumulated depreciation</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>37,208,925</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>36,413,975</font></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property - net</font></td>
<td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>48,522,263</font></td>
<td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>48,060,370</font></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"></td>
<td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"></td>
<td style="vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">Fixtures and equipment and other:</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Fixtures and equipment</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>144,544</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>144,544</font></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other fixed assets</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>235,623</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>235,623</font></td>
</tr>
<tr valign="bottom">
<td nowrap="nowrap" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>380,167</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>380,167</font></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Less accumulated depreciation</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>268,345</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 1pt solid !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>249,145</font></td>
</tr>
<tr valign="bottom">
<td style="font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Fixtures and equipment and other - net</font></td>
<td style="font-family: Times New Roman; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" align="left"></td>
<td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" nowrap="nowrap" align="right"><font>111,822</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap;"><br/></td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" align="left"></td>
<td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" nowrap="nowrap" align="right"><font>131,022</font></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"></td>
<td style="vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"></td>
<td style="vertical-align: top; text-align: left; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap; padding-right: 5px;" align="left"></td>
<td style="vertical-align: bottom; font-size: 10.0pt; white-space: nowrap;" colspan="1" align="right"></td>
</tr>
<tr valign="bottom">
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="left"><font style="font-family: Times New Roman;" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property and equipment - net</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left">$</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>48,634,085</font></td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; padding: 0px; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left">$</td>
<td style="font-family: Times New Roman; background-color: #c0c0c0; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font>48,191,392</font></td>
</tr>
<tr>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"></td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt; font-family: 'Times New Roman';">&#160;</td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="left"></td>
<td style="background-color: #c0c0c0; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10.0pt;" align="right"></td>
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<td style="vertical-align: top; text-align: left; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
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<td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-family: 'Times New Roman';" align="center">&#160;</td>
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<td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-family: 'Times New Roman';" align="center">&#160;</td>
<td style="padding: 0px 5px; white-space: nowrap; font-size: 10pt; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" align="center" colspan="2"><font style="font-family: Times New Roman;" size="2">July 31</font><br/><font style="font-family: Times New Roman;" size="2">2015</font></td>
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<td nowrap="nowrap" align="left" style="background-color: #c0c0c0;"><font style="font-size: 10pt;">Building improvements at 9 Bond Street in Brooklyn, NY</font></td>
<td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; background-color: #c0c0c0;">&#160;</td>
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<td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; background-color: #c0c0c0;" nowrap="nowrap" align="right"><font>188,387</font></td>
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<td style="padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;" align="left">$</td>
<td style="padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #c0c0c0;" nowrap="nowrap" align="right"><font>144,041</font></td>
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<td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 20px;">&#160;</td>
<td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 20px;" align="left">&#160;</td>
<td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 20px;" nowrap="nowrap" align="right"><font>1,054,132</font></td>
<td style="padding: 0px 5px; font-size: 10pt; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;">&#160;</td>
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<td style="padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; width: 20px;" nowrap="nowrap" align="right"><font>495,001</font></td>
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<td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;">&#160;</td>
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<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #c0c0c0;" align="left"></td>
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<td style="font-family: 'Times New Roman'; padding: 0px 5px; font-size: 9pt; white-space: nowrap;">&#160;</td>
<td style="font-family: 'Times New Roman'; padding: 0px 5px 0px 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" align="left">$</td>
<td style="font-family: 'Times New Roman'; padding: 0px; font-size: 9pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" nowrap="nowrap" align="right"><font>1,331,099</font></td>
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<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;" nowrap="nowrap" align="right"><font>639,042</font></td>
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<td style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" align="center" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">2016</font></td>
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<td style="background-color: #c0c0c0; padding: 0px; font-size: 10.0pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" align="center"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="background-color: #c0c0c0; padding: 0px; font-family: 'Times New Roman';" nowrap="nowrap" align="center" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="padding: 0px; font-family: 'Times New Roman'; width: 88%; background-color: #c0c0c0;" nowrap="nowrap" align="left"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; and $<font>5,359</font>&#160;(2015)</font></td>
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<td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 3%; background-color: #c0c0c0;" nowrap="nowrap" align="right" colspan="2"><font>123,677</font></td>
<td style="padding: 0px 5px; font-family: 'Times New Roman'; font-size: 9pt; white-space: nowrap; width: 1%; background-color: #c0c0c0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="padding: 0px 5px 0px 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #c0c0c0;" align="left"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="padding: 0px; font-family: 'Times New Roman'; font-size: 9pt; vertical-align: bottom; white-space: nowrap; width: 3%; background-color: #c0c0c0;" nowrap="nowrap" align="right"><font>233,622</font></td>
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<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right" colspan="2"><font>23,654</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;" align="left"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="font-family: Times New Roman; font-size: 9pt; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap" align="right"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">323,926</font></font></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of supplemental cash flow information for the periods presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778352352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accumulated Other Comprehensive Income (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock', window );">Schedule of Accumulated Other Comprehensive Income (Loss)</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><table cellspacing="0" cellpadding="0" width="100%" border="0" style="font-family: 'Times New Roman'; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 14pt; border-collapse: collapse;">  <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td> <td nowrap="nowrap" align="left" width="76%"></td> <td nowrap="nowrap" width="11%" colspan="7" style="text-align: center;"><font size="2"><font size="2">Three Months Ended</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="11%" colspan="7" style="text-align: center;"><font size="2"><font size="2">Six Months Ended</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"></td> <td nowrap="nowrap" align="center" width="11%" colspan="7" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2">January 31</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" align="center" width="11%" colspan="7" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2">January 31</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"></td> <td nowrap="nowrap" width="4%" colspan="2" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"><font size="2"><font size="2">2016</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"><font size="2"><font size="2">2015</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"><font size="2"><font size="2">2016</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="5%" colspan="3" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; text-align: center;"><font size="2"><font size="2">2015</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"></td> <td nowrap="nowrap" align="center" width="4%" colspan="2"><font size="2"><font size="2">(Unaudited)</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"></td> <td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" align="center" width="5%" colspan="3"><font size="2"><font size="2">(Unaudited)</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" align="center" width="5%" colspan="3"><font size="2"><font size="2">(Unaudited)</font></font></td> <td nowrap="nowrap" width="1%" style="text-align: center;"><font size="2">&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" align="center" width="5%" colspan="3"><font size="2"><font size="2">(Unaudited)</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">Beginning balance, net of tax effect</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>176,629</font></font></font></td> <td nowrap="nowrap" align="right" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>171,574</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>196,033</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2">$&#160;&#160;&#160;&#160;&#160;</font></font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>129,412</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> </tr> <tr> <td width="1%"></td> <td width="99%" colspan="16" style="background-color: rgb(192, 192, 192);"><font size="2">&#160;</font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"><font size="2"><font size="2">Other comprehensive income, net of tax effect:</font></font></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="right" width="3%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="3%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="3%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="3%"></td> <td nowrap="nowrap" align="left" width="1%"></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unrealized gains (loss) on available-for-sale</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(51,050</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"><font size="2">)</font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(22,823</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">)</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(81,454</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">)</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>52,339</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Tax effect</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font>17,000</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2"><font>10,000</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2"><font>28,000</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2"><font>(23,000</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font size="2"><font size="2">)</font></font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unrealized gains (loss) on available-for-sale</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="3%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%" style="background-color: rgb(192, 192, 192);"><font size="2"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;securities, net of tax effect</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font>(34,050</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2">)</font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(12,823</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2">)</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>(53,454</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2">)</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"><font size="2"><font size="2"><font>29,339</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; background-color: rgb(192, 192, 192);"></td> </tr> <tr> <td width="1%"></td> <td width="99%" colspan="16" style="background-color: rgb(192, 192, 192);"><font size="2">&#160;</font></td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="76%"><font size="2"><font size="2">Ending balance, net of tax effect</font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2">$</font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2"><font>142,579</font></font></font></td> <td nowrap="nowrap" align="right" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2">$</font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2"><font>158,751</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"></td> <td nowrap="nowrap" align="right" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2">$</font></font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2"><font>142,579</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"></td> <td nowrap="nowrap" align="left" width="1%"></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2">$</font></font></td> <td nowrap="nowrap" align="right" width="3%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"><font size="2"><font size="2"><font>158,751</font></font></font></td> <td nowrap="nowrap" align="left" width="1%" style="border-bottom-color: #000000; border-bottom-width: 2pt; border-bottom-style: double;"></td> </tr>  </table></div><span></span>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated Other Comprehensive Income [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_AccumulatedOtherComprehensiveIncomeAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of accumulated other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock</td>
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<tr>
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<td>nonnum:textBlockItemType</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791128432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Records and Use of Estimates (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_ReductionInDeferredTaxAssetOnRevisionOfTaxCode', window );">Reduction in deferred tax asset on revision of tax code</a></td>
<td class="nump">$ 380,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_ReductionInDeferredTaxLiabilityOnRevisionOfTaxCode', window );">Reduction in deferred tax liability on revision of tax code</a></td>
<td class="nump">771,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_ReductionInDeferredTaxesOnSecuritiesRevisionOfTaxCode', window );">Reduction in deferred taxes on securities, revision of tax code</a></td>
<td class="nump">26,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit', window );">State and City deferred tax benefit</a></td>
<td class="nump">365,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember', window );">Domestic Tax Authority [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating loss carryforwards</a></td>
<td class="nump">$ 6,609,000<span></span>
</td>
<td class="nump">$ 8,191,403<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_NetOperatingLossUtilized', window );">Net operating loss utilized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,582,003<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions', window );">Tax refund</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">537,881<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember', window );">State and Local Jurisdiction [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,000,000<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_NetOperatingLossUtilized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net Operating Loss Utilized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_NetOperatingLossUtilized</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_ReductionInDeferredTaxAssetOnRevisionOfTaxCode">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reduction In Deferred Tax Asset On Revision Of Tax Code.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_ReductionInDeferredTaxAssetOnRevisionOfTaxCode</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_ReductionInDeferredTaxLiabilityOnRevisionOfTaxCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reduction In Deferred Tax Liability On Revision Of Tax Code.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_ReductionInDeferredTaxLiabilityOnRevisionOfTaxCode</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_ReductionInDeferredTaxesOnSecuritiesRevisionOfTaxCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reduction In Deferred Taxes On Securities Revision Of Tax Code.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_ReductionInDeferredTaxesOnSecuritiesRevisionOfTaxCode</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwardsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwardsLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) to previously recorded tax expense. Includes, but is not limited to, significant settlements of income tax disputes, and unusual tax positions or infrequent actions taken by the entity, including tax assessment reversal, and IRS tax settlement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28446-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28511-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6738356160">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Per Share of Common Stock (Narrative) (Details) - shares<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Income Per Share of Common Stock: [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Average common shares outstanding</a></td>
<td class="nump">2,015,780<span></span>
</td>
<td class="nump">2,015,780<span></span>
</td>
<td class="nump">2,015,780<span></span>
</td>
<td class="nump">2,015,780<span></span>
</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780253040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Marketable Securities (Schedule of financial assets measured at fair value on recurring basis) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketableSecuritiesNoncurrentAbstract', window );"><strong>Marketable securities -</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Available-for-sale</a></td>
<td class="nump">$ 1,168,462<span></span>
</td>
<td class="nump">$ 1,461,504<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketableSecuritiesNoncurrentAbstract', window );"><strong>Marketable securities -</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Available-for-sale</a></td>
<td class="nump">$ 1,168,462<span></span>
</td>
<td class="nump">$ 1,461,504<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketableSecuritiesNoncurrentAbstract', window );"><strong>Marketable securities -</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Available-for-sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketableSecuritiesNoncurrentAbstract', window );"><strong>Marketable securities -</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Available-for-sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51813488&amp;loc=d3e22054-111558<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (aa)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27232-111563<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26610-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>debit</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
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<tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780547424">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Marketable Securities (Schedule of investments measured at fair value) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentHoldingAxis=mays_InvestmentOneMember', window );">First Eagle Global CL I [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Fair Value</a></td>
<td class="nump">$ 258,304<span></span>
</td>
<td class="nump">$ 271,462<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentHoldingAxis=mays_InvestmentTwoMember', window );">Parnasus Core Equity Investor CL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Fair Value</a></td>
<td class="nump">$ 287,101<span></span>
</td>
<td class="nump">305,626<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentHoldingAxis=mays_InvestmentThreeMember', window );">Columbia Flexible Income CL A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 271,076<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Trading Securities<br> -URI http://asc.fasb.org/extlink&amp;oid=6526789<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=27723805&amp;loc=d3e24584-111560<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51813488&amp;loc=d3e22054-111558<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Available-for-Sale Securities<br> -URI http://asc.fasb.org/extlink&amp;oid=6505594<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 1<br> -Subparagraph a, f, g<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsFairValueDisclosure</td>
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<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentHoldingAxis=mays_InvestmentOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentHoldingAxis=mays_InvestmentOneMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentHoldingAxis=mays_InvestmentTwoMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentHoldingAxis=mays_InvestmentThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentHoldingAxis=mays_InvestmentThreeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6792888928">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Marketable Securities (Schedule of classified marketable securities) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Available-for-sale - Cost</a></td>
<td class="nump">$ 952,883<span></span>
</td>
<td class="nump">$ 1,164,472<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax', window );">Gross Unrealized Gains</a></td>
<td class="nump">$ 215,579<span></span>
</td>
<td class="nump">299,752<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax', window );">Gross Unrealized Losses</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">2,720<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Available-for-sale - Fair Value</a></td>
<td class="nump">$ 1,168,462<span></span>
</td>
<td class="nump">1,461,504<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=mays_NoncurrentMember', window );">Noncurrent [Member] | Mutual Funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Available-for-sale - Cost</a></td>
<td class="nump">474,669<span></span>
</td>
<td class="nump">719,245<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax', window );">Gross Unrealized Gains</a></td>
<td class="nump">$ 70,736<span></span>
</td>
<td class="nump">131,639<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax', window );">Gross Unrealized Losses</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">2,720<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Available-for-sale - Fair Value</a></td>
<td class="nump">$ 545,405<span></span>
</td>
<td class="nump">848,164<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=mays_NoncurrentMember', window );">Noncurrent [Member] | Equity Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Available-for-sale - Cost</a></td>
<td class="nump">478,214<span></span>
</td>
<td class="nump">445,227<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax', window );">Gross Unrealized Gains</a></td>
<td class="nump">$ 144,843<span></span>
</td>
<td class="nump">$ 168,113<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax', window );">Gross Unrealized Losses</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Available-for-sale - Fair Value</a></td>
<td class="nump">$ 623,057<span></span>
</td>
<td class="nump">$ 613,340<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51813488&amp;loc=d3e22054-111558<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (aa)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27232-111563<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26610-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27161-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27161-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesAmortizedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetLocationAxis=mays_NoncurrentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetLocationAxis=mays_NoncurrentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=mays_MutualFundsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=mays_MutualFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_EquitySecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_EquitySecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778092304">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Marketable Securities (Schedule of Securities in a Continuous Unrealized Loss Position) (Details) - Mutual Funds [Member] - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems', window );"><strong>Schedule of Available-for-sale Securities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue', window );">Fair Value</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 271,076<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss', window );">Less Than 12 Months</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 2,720<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated unrealized loss on investments in debt and equity securities classified as available-for-sale that have been in a continuous loss position for less than twelve months.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27290-111563<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27337-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for less than twelve months.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27337-111563<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27290-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=mays_MutualFundsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=mays_MutualFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>43
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780716528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Marketable Securities (Schedule of investment income) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract', window );"><strong>Marketable Securities: [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketableSecuritiesGainLoss', window );">Gain (loss) on sale of marketable securities</a></td>
<td class="num">$ (38,538)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (38,538)<span></span>
</td>
<td class="nump">$ 386<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="nump">756<span></span>
</td>
<td class="nump">$ 662<span></span>
</td>
<td class="nump">1,665<span></span>
</td>
<td class="nump">1,287<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeDividend', window );">Dividend income</a></td>
<td class="nump">37,702<span></span>
</td>
<td class="nump">25,691<span></span>
</td>
<td class="nump">44,015<span></span>
</td>
<td class="nump">30,871<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeNet', window );">Total</a></td>
<td class="num">$ (80)<span></span>
</td>
<td class="nump">$ 26,353<span></span>
</td>
<td class="nump">$ 7,142<span></span>
</td>
<td class="nump">$ 32,544<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeDividend">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of dividend income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeDividend</td>
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</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(a),(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeNet</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MarketableSecuritiesGainLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(c)-(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27357-111563<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27405-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MarketableSecuritiesGainLoss</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780695856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments and Credit Risk Concentrations (Narrative) (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jan. 31, 2016 </div>
<div>USD ($) </div>
<div>tenant</div>
</th>
<th class="th">
<div>Jul. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Concentration Risk [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_ConcentrationRiskNumberOfTenants', window );">Number of tenants | tenant</a></td>
<td class="nump">49<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure', window );">Irrevocable letter of credit | $</a></td>
<td class="nump">$ 230,000<span></span>
</td>
<td class="nump">$ 230,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Rental income [Member] | Tenant One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Concentration Risk [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk</a></td>
<td class="nump">18.73%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Rental income [Member] | Tenant Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Concentration Risk [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk</a></td>
<td class="nump">15.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_ConcentrationRiskNumberOfTenants">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of tenants from whom rental income is derived.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6351-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13531-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6404-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>num:percentItemType</td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=mays_CustomerOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorCustomersAxis=mays_CustomerOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=mays_CustomerTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorCustomersAxis=mays_CustomerTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6615116064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt - Mortgage (Schedule of long-term debt) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesAndLoans', window );">Due After One Year</a></td>
<td class="nump">$ 5,709,650<span></span>
</td>
<td class="nump">$ 5,786,525<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYTwoMember', window );">Bond St. building, Brooklyn, NY [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesAndLoansPayableCurrent', window );">Due Within One Year</a></td>
<td class="nump">153,511<span></span>
</td>
<td class="nump">150,763<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesAndLoans', window );">Due After One Year</a></td>
<td class="nump">$ 5,709,650<span></span>
</td>
<td class="nump">$ 5,786,525<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Final Payment Date</a></td>
<td class="text">Feb.  01,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Current Annual Interest Rate</a></td>
<td class="nump">3.54%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermNotesAndLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermNotesAndLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesAndLoansPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of the portions of all long-term notes and loans payable due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesAndLoansPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780606368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt - Mortgage (Narrative) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 09, 2015</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Aug. 19, 2004</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mays_FishkillNewYorkPropertyMember', window );">Fishkill, New York Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">7 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Interest rate, percent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.98%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYMember', window );">Bond St. Building, Brooklyn, N Y [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Amount of loan</a></td>
<td class="nump">$ 6,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Amount outstanding</a></td>
<td class="nump">5,347,726<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_AdditionalMortgageLoansForCapitalImprovements', window );">Additional borrowing</a></td>
<td class="nump">$ 652,274<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1', window );">Amortization period of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">25 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Interest rate, percent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.54%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYTwoMember', window );">Bond St. building, Brooklyn, NY [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Interest rate, percent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.54%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mays_PermanentSubordinateMortgageMember', window );">Permanent Subordinate Mortgage [Member] | Fishkill, New York Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,870,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mays_MultipleSuccessivelySubordinateLoansMember', window );">Multiple Successively Subordinate Loans [Member] | Fishkill, New York Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,295,274<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_AdditionalMortgageLoansForCapitalImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value for additional mortgage loan for capital improvements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_AdditionalMortgageLoansForCapitalImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 16<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Remaining amortization period for discount on the liability component of convertible debt which may be settled in cash upon conversion, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6928298&amp;loc=SL6031898-161870<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mays_FishkillNewYorkPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mays_FishkillNewYorkPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mays_BondSt.BuildingBrooklynNYTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mays_PermanentSubordinateMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mays_PermanentSubordinateMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mays_MultipleSuccessivelySubordinateLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mays_MultipleSuccessivelySubordinateLoansMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
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<SEQUENCE>47
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780069280">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Property and Equipment - at cost (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment - net</a></td>
<td class="nump">$ 48,634,085<span></span>
</td>
<td class="nump">$ 48,191,392<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Construction in progress</a></td>
<td class="nump">1,331,099<span></span>
</td>
<td class="nump">639,042<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember', window );">Building improvements at 9 Bond Street in Brooklyn, NY [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Construction in progress</a></td>
<td class="nump">188,387<span></span>
</td>
<td class="nump">144,041<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember', window );">Building improvements at 25 Elm Place in Brooklyn, NY [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Construction in progress</a></td>
<td class="nump">1,054,132<span></span>
</td>
<td class="nump">$ 495,001<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtJamaicaNyMember', window );">Building improvements at Jamaica, NY [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Construction in progress</a></td>
<td class="nump">88,580<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandAndBuildingMember', window );">Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">85,731,188<span></span>
</td>
<td class="nump">$ 84,474,345<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Less accumulated depreciation</a></td>
<td class="nump">37,208,925<span></span>
</td>
<td class="nump">36,413,975<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment - net</a></td>
<td class="nump">48,522,263<span></span>
</td>
<td class="nump">48,060,370<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember', window );">Buildings and improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">76,854,272<span></span>
</td>
<td class="nump">76,289,486<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Improvements to leased property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">1,478,012<span></span>
</td>
<td class="nump">1,478,012<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandMember', window );">Land [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">6,067,805<span></span>
</td>
<td class="nump">6,067,805<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember', window );">Construction in Progress [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">1,331,099<span></span>
</td>
<td class="nump">639,042<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_PropertyPlantAndEquipmentOtherTypesMember', window );">Fixtures and equipment and other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">380,167<span></span>
</td>
<td class="nump">380,167<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Less accumulated depreciation</a></td>
<td class="nump">268,345<span></span>
</td>
<td class="nump">249,145<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment - net</a></td>
<td class="nump">111,822<span></span>
</td>
<td class="nump">131,022<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember', window );">Fixtures and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">144,544<span></span>
</td>
<td class="nump">144,544<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OtherMachineryAndEquipmentMember', window );">Other fixed assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">$ 235,623<span></span>
</td>
<td class="nump">$ 235,623<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionInProgressGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConstructionInProgressGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtNineBondStreetBrooklynNewYorkMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtTwentyFiveElmPlaceBrooklynNewYorkMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtJamaicaNyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_BuildingImprovementsAtJamaicaNyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandAndBuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandAndBuildingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_PropertyPlantAndEquipmentOtherTypesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OtherMachineryAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778034752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note Payable - Related Party (Details) - Related Party Note Payable [Member] - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 15, 2004</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRelatedPartyDebt', window );">Proceeds from related party</a></td>
<td class="nump">$ 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock', window );">Minimum percentage of beneficially owned common stock</a></td>
<td class="nump">10.00%<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPaymentInterest', window );">Periodic payment of interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,500<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseRelatedParty', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mays_MinimumPercentageOfBeneficialOwnedOfCommonStock">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Representing minimum percentage of beneficial owned of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mays_MinimumPercentageOfBeneficialOwnedOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mays_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentPeriodicPaymentInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments applied to interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentPeriodicPaymentInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense incurred on a debt or other obligation to related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRelatedPartyDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mays_RelatedPartyNotePayableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mays_RelatedPartyNotePayableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6762940368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Employees' Retirement Plan (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>Employees' Retirement Plan: [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanCostRecognized', window );">Pension contributions</a></td>
<td class="nump">$ 98,296<span></span>
</td>
<td class="nump">$ 115,675<span></span>
</td>
<td class="nump">$ 195,718<span></span>
</td>
<td class="nump">$ 210,495<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MultiemployerPlanPeriodContributions', window );">Employer contributions</a></td>
<td class="nump">$ 16,440<span></span>
</td>
<td class="nump">$ 13,571<span></span>
</td>
<td class="nump">$ 29,593<span></span>
</td>
<td class="nump">$ 23,908<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CompensationAndRetirementDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CompensationAndRetirementDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanCostRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the cost recognized during the period for defined contribution plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 70<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49170846&amp;loc=d3e28014-114942<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanCostRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MultiemployerPlanPeriodContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contributions made to multiemployer plans by the employer. A multiemployer plan is a pension or postretirement benefit plan to which two or more unrelated employers contribute where assets contributed by one participating employer may be used to provide benefits to employees of other participating employers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 80<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=49170332&amp;loc=SL14450702-114947<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 80<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=49170332&amp;loc=SL14450691-114947<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 80<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=49170332&amp;loc=SL14450657-114947<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MultiemployerPlanPeriodContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778405712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Information (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowElementsAbstract', window );"><strong>Cash Flow Information: [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Interest paid, net of capitalized interest of $18,127 (2016) and $5,359 (2015)</a></td>
<td class="nump">$ 123,677<span></span>
</td>
<td class="nump">$ 233,622<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaid', window );">Income taxes paid</a></td>
<td class="nump">23,654<span></span>
</td>
<td class="nump">323,926<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidCapitalized', window );">Capitalized interest</a></td>
<td class="nump">$ 18,127<span></span>
</td>
<td class="nump">$ 5,359<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaid</td>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period for interest that is capitalized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period net of cash paid for interest that is capitalized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780925024">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accumulated Other Comprehensive Income (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mays_AccumulatedOtherComprehensiveIncomeAbstract', window );"><strong>Accumulated Other Comprehensive Income: [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax', window );">Beginning balance, net of tax effect</a></td>
<td class="nump">$ 176,629<span></span>
</td>
<td class="nump">$ 171,574<span></span>
</td>
<td class="nump">$ 196,033<span></span>
</td>
<td class="nump">$ 129,412<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract', window );"><strong>Other comprehensive income, net of tax effect:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax', window );">Unrealized gains (loss) on available-for-sale securities</a></td>
<td class="num">(51,050)<span></span>
</td>
<td class="num">(22,823)<span></span>
</td>
<td class="num">(81,454)<span></span>
</td>
<td class="nump">52,339<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax', window );">Tax effect</a></td>
<td class="nump">17,000<span></span>
</td>
<td class="nump">10,000<span></span>
</td>
<td class="nump">28,000<span></span>
</td>
<td class="num">(23,000)<span></span>
</td>
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<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized gains (loss) on available-for-sale securities, net of tax effect</a></td>
<td class="num">(34,050)<span></span>
</td>
<td class="num">(12,823)<span></span>
</td>
<td class="num">(53,454)<span></span>
</td>
<td class="nump">29,339<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract', window );"><strong>Amounts reclassified from accumulated other comprehensive income, net of tax effect:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax', window );">Ending balance, net of tax effect</a></td>
<td class="nump">$ 142,579<span></span>
</td>
<td class="nump">$ 158,751<span></span>
</td>
<td class="nump">$ 142,579<span></span>
</td>
<td class="nump">$ 158,751<span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated Other Comprehensive Income [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated appreciation or loss, net of tax, in value of the total of available-for-sale securities at the end of an accounting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax and reclassification adjustments of unrealized holding gain (loss) on available-for-sale securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of tax expense (benefit) before reclassification adjustments of unrealized holding gain (loss) on available-for-sale securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e640-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e,f)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br></p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6600637536">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Entry into a Material Definitive Agreement (Details) - 33 Bond St. LLC [Member]<br></strong></div></th>
<th class="th">
<div>Jun. 16, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenue', window );">Deferred revenue</a></td>
<td class="nump">$ 3,500,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableRelatedParties', window );">Tendered amount with execution of the Amendment</a></td>
<td class="nump">2,250,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Balance due</a></td>
<td class="nump">$ 1,250,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amount of receivables arising from transactions with related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1 Response)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenue</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedParties</td>
</tr>
<tr>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=mays_ThirtyThreeBondStreetLlcMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6606798768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Contingencies (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jan. 31, 2016 </div>
<div>USD ($)</div>
</th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mays_FishkillNewYorkPropertyMember', window );">Fishkill, New York Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyDamagesSoughtValue', window );">Damages filed</a></td>
<td class="nump">$ 376,467<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingencyDamagesSoughtValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value (monetary amount) of the award the plaintiff seeks in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14557-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyDamagesSoughtValue</td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
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<td></td>
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</table></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
