XML 34 R17.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Note 11 - Subsequent Events | 6 Months Ended
--- | ---
Jul. 31, 2014
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | 11. SUBSEQUENT EVENTS On August 19, 2014, Ontario Hospitality Properties Limited Partnership, a subsidiary of the Trust, entered into a $477,000 credit card advance financing business loan, including $27,000 of loan fees, with American Express Bank, FSB with a maturity date of August 19, 2015. The agreement includes acceleration provisions upon default. The funds may be used for working capital and to expand IBC. On August 22, 2014, Ontario Hospitality Properties Limited Partnership, a subsidiary of the Trust, entered into a $5,700,000 10 year term loan to refinance the first mortgage with monthly payments of $36,835 including principal and interest, an interest rate of 4.75% fixed for the first five years and variable with a 4.75% floor for the remaining five years of the term. The loan is secured by a lien on the Ontario Hospitality Properties Limited Partnership. The balance of the previous mortgage at the time of refinance was $5,697,171, of which, $5,640,940 has been presented as long-term in the accompanying unaudited condensed consolidated balance sheet at July 31, 2014 based on the Trust’s intent and ability to refinance this mortgage at that time. As of September 2, 2014, we have continued to sell units under our Albuquerque and Ontario entity offerings and have raised approximately $35,000 and $5,000, respectively, through the sale of approximately 3.5 and 0.5 units, respectively, to unrelated parties at $10,000 per unit.

X
- Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration