XML 58 R28.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 22 - Segment Reporting
 12 Months Ended
Jan. 31, 2015
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
22.  SEGMENT REPORTING
 
In the fourth quarter of 2014, the Trust determined its reportable segments are the Hotel Operations and IBC Developments segments. Reportable segments are determined based on discrete financial information reviewed by the Company’s CODM. The Trust organizes and reviews operations based on products and services, and currently there are no operating segments that are aggregated. The Company performs an annual analysis of its reportable segments.
 
Information relative to the Trust’s reportable segments is as follows:
 
BALANCE SHEET
  
JANUARY 31, 2015
  
   
Hotel Operations & Corporate Overhead
    
IBC Developments
    
Total
  
Total Assets
   $ 27,020,056     $ 7,753     $ 27,027,809  
Total Liabilities
     24,046,878       15,704       24,062,582  
Fixed Assets, Net
     25,891,083       3,455       25,894,538  
 
STATEMENT OF OPERATIONS
  
YEAR ENDED JANUARY 31, 2015
  
   
Hotel Operations & Corporate Overhead
    
IBC Developments
    
Total
  
Total Revenue
   $ 14,652,606     $ 20,266     $ 14,672,872  
Loss From Operations
     (845,336 )     (326,039 )     (1,171,375 )
Depreciation
     (1,781,024 )     (1,397 )     (1,782,421 )
Interest Income
     9,168       -       9,168  
Interest Expense
     (880,069 )     -       (880,069 )
Income Tax Expense
     (198,648 )     -       (198,648 )
 
BALANCE SHEET
  
JANUARY 31, 2014
  
   
Hotel Operations & Corporate Overhead
    
IBC Developments
    
Total
  
Total Assets
   $ 25,408,135     $ 368     $ 25,408,503  
Total Liabilities
     22,506,091       -       22,506,091  
Fixed Assets, Net
     23,762,063       -       23,762,063  
 
STATEMENT OF OPERATIONS
  
YEAR ENDED JANUARY 31, 2014
  
   
Hotel Operations & Corporate Overhead
    
IBC Developments
    
Total
  
Total Revenue
   $ 14,883,881     $ 761     $ 14,884,642  
Income (Loss) From Operations
     41,793       (28,905 )     12,888  
Depreciation
     (1,783,595 )     -       (1,783,595 )
Interest Income
     5,610       -       5,610  
Interest Expense
     (822,581 )     -       (822,581 )
Income Tax Expense
     (37,148 )     -       (37,148 )