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Note 3 - Stock-based Compensation
 6 Months Ended
Jul. 31, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
3. STOCK-BASED COMPENSATION

For the six months ended July 31, 2011, the Trust recognized expenses of $25,920 related to stock-based compensation. During the six months ended July 31, 2010, the Trust recognized expenses of $24,300.  The Trust issued 36,000 restricted shares with a total market value of $51,840 in January 2011 as compensation to its three outside Trustees for fiscal year 2012.

The following table summarizes restricted share activity during the six months ended July 31, 2011:

 
Restricted Shares
 
Shares
Weighted-Average Per Share Grant Date Fair Value
Balance at January 31, 2011
—
—
Granted
36,000
$1.44
Vested
(18,000)
$1.44
Forfeited
—
—
Balance of unvested awards at July 31, 2011
18,000
$1.44

No cash was paid out or received by the Trust relating to restricted share awards during the six months ended July 31, 2011 or 2010.