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Property and Equipment - at cost

6 Months Ended

Jan. 31, 2016

Property and Equipment - at cost: [Abstract]

Property and Equipment - at cost:

6. Property and Equipment – at cost:

		January 31 2016			July 31 2015
Property:
Buildings and improvements		$	76,854,272		$	76,289,486
Improvements to leased property			1,478,012			1,478,012
Land			6,067,805			6,067,805
Construction in progress			1,331,099			639,042
			85,731,188			84,474,345
Less accumulated depreciation			37,208,925			36,413,975
Property - net			48,522,263			48,060,370
Fixtures and equipment and other:
Fixtures and equipment			144,544			144,544
Other fixed assets			235,623			235,623
			380,167			380,167
Less accumulated depreciation			268,345			249,145
Fixtures and equipment and other - net			111,822			131,022
Property and equipment - net		$	48,634,085		$	48,191,392

                Construction in progress includes:

		January 31 2016			July 31 2015
Building improvements at 9 Bond Street in Brooklyn, NY		$	188,387		$	144,041
Building improvements at 25 Elm Place in Brooklyn, NY			1,054,132			495,001
Building improvements at Jamaica, NY			88,580			–
		$	1,331,099		$	639,042

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- References

No definition available.

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2921-110230

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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