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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jul. 31, 2015
Jan. 31, 2015
Current Assets:    
Cash and Cash Equivalents $ 300,950 $ 507,686
Accounts Receivable, including $57,868 and $79,366 from related parties and net of Allowance for Doubtful Accounts of $25,944 and $39,045, as of July 31, 2015 and January 31, 2015, respectively $ 312,024 472,350
Advances to Affiliates - Related Party   1,236
Prepaid Expenses and Other Current Assets $ 160,294 151,999
Total Current Assets 773,268 1,133,271
Hotel Properties, net 25,680,396 25,818,446
Property, Plant and Equipment, net 142,303 76,092
TOTAL ASSETS 26,595,967 27,027,809
Current Liabilities:    
Accounts Payable and Accrued Expenses 2,338,480 2,646,840
Current Portion of Mortgage Notes Payable, net of Discount of $8,012 as of July 31, 2015 and January 31, 2015, respectively 5,190,898 5,325,583
Current Portion of Notes Payable to Banks, net of Discount of $4,500 and $63,474 as of July 31, 2015 and January 31, 2015, respectively 692,530 1,226,626
Line of Credit - Related Party 108,270 541,710
Current Portion of Other Notes Payable 217,209 469,842
Total Current Liabilities 8,547,387 10,210,601
Mortgage Notes Payable, net of discount of $62,909 and $66,915 as of July 31, 2015 and January 31, 2015, respectively 13,578,243 13,796,153
Other Notes Payable 21,448 55,828
TOTAL LIABILITIES $ 22,147,078 $ 24,062,582
COMMITMENTS AND CONTINGENCIES (SEE NOTE 8)    
SHAREHOLDERS' EQUITY    
Shares of Beneficial Interest, without par value, unlimited authorization; 16,866,846 and 16,845,846 shares issued and 8,264,346 and 8,265,102 shares outstanding at July 31, 2015 and January 31, 2015, respectively $ 14,827,601 $ 13,812,470
Treasury Stock, 8,602,500 and 8,580,744 shares held at cost at July 31, 2015 and January 31, 2015, respectively (12,252,277) (12,193,491)
TOTAL TRUST SHAREHOLDERS' EQUITY 2,575,324 1,618,979
NON-CONTROLLING INTEREST 1,873,565 1,346,248
TOTAL EQUITY 4,448,889 2,965,227
TOTAL LIABILITIES AND EQUITY $ 26,595,967 $ 27,027,809