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LONG-TERM DEBT-MORTGAGES (Details) - Schedule of long-term debt - USD ($) | 12 Months Ended |
--- | --- | ---
Jul. 31, 2024 | Jul. 31, 2023
Extinguishment of Debt [Line Items] |  |  |
Deferred financing costs |  | $ (16,519) | $ (54,631)
Total |  | $ 3,874,246 | 5,144,205
Long-Term Debt [Member] | Bond St. land and building, Brooklyn, NY [Member] |  |  |
Extinguishment of Debt [Line Items] |  |  |
Current Annual Interest Rate | [1] | 4.375% |
Final Payment Date | [1] | Dec. 01, 2024 |
Long term loan | [1] | $ 497,045 | 1,653,117
Long-Term Debt [Member] | Fishkill land and building [Member] |  |  |
Extinguishment of Debt [Line Items] |  |  |
Current Annual Interest Rate | [2] | 3.98% |
Final Payment Date | [2] | Apr. 01, 2025 |
Long term loan | [2] | $ 3,393,720 | $ 3,545,719
[1] | In November 2019, the Company refinanced the remaining balance of a $6,000,000, 3.54% interest rate loan with another bank for $5,255,920 plus an additional $144,080 for a total of $5,400,000. The interest rate on the new loan is fixed at 4.375%. The loan is self-liquidating over a period of five years and secured by the Nine Bond Street land and building in Brooklyn, New York.
[2] | In March 2020, the Company obtained a loan with a bank in the amount of $4,000,000 to finance renovations and brokerage commissions relating to space leased to a community college at the Fishkill, New York building. The loan is secured by the Fishkill, New York land and building; amortized over a 20-year period with an interest rate of 3.98%. Effective any time after April 1, 2025 through April 1, 2040, the bank may demand a balloon payment for the full amount outstanding. The Company plans to refinance the mortgage effective April 1, 2025, however, the bank is under no obligation to refinance if or when a balloon payment comes due upon demand.

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