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Discontinued Operations and Assets Held for Sale (Tables) | 12 Months Ended
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Jan. 31, 2016
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disposal Group Including Discontinued Operation Balance Sheet |
|  | JANUARY 31, 2016 |  |  | JANUARY 31, 2015 |
ASSETS |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 162,021 |  |  | $ | 360,002 |
Accounts Receivable |  |  | 208,807 |  |  |  | 354,447 |
Prepaid Expenses and Other Current Assets |  |  | 108,279 |  |  |  | 121,901 |
Total Current Assets of Discontinued Operations and Assets Held for Sale |  |  | 479,107 |  |  |  | 836,350 |
Noncurrent assets of Discontinued Operations and Assets Held for Sale |  |  | 14,382,785 |  |  |  | 20,716,731 |
TOTAL ASSETS OF DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE |  | $ | 14,861,892 |  |  | $ | 21,553,081 |
LIABILITIES |  |  |  |  |  |  |  |
LIABILITIES |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |
Accounts Payable and Accrued Expenses |  | $ | 1,295,228 |  |  | $ | 1,956,488 |
Current Portion of Mortgage Notes Payable |  |  | 355,951 |  |  |  | 5,202,978 |
Current Portion of Notes Payable to Banks |  |  | - |  |  |  | 658,835 |
Line of Credit - Related Party |  |  | - |  |  |  | 279,051 |
Total Current Liabilities of Discontinued Operations and Assets Held for Sale |  |  | 1,651,179 |  |  |  | 8,097,352 |
Noncurrent Liabilities of Discontinued Operations and Assets Held for Sale |  |  | 8,343,647 |  |  |  | 8,701,557 |
TOTAL LIABILITIES OF DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE |  | $ | 9,994,826 |  |  | $ | 16,798,909 |
Schedule of Disposal Group Including Discontinued Operation Statements and Cash Flows Statements |
|  | YEARS ENDED |
|  | JANUARY 31, |
|  | 2016 |  |  | 2015 |
REVENUE |  |  |  |  |  |  |  |
Room |  | $ | 9,944,716 |  |  | $ | 10,758,583 |
Food and Beverage |  |  | 810,812 |  |  |  | 915,638 |
Other |  |  | 92,244 |  |  |  | 153,530 |
TOTAL REVENUE |  |  | 10,847,772 |  |  |  | 11,827,751 |
OPERATING EXPENSES |  |  |  |  |  |  |  |
Room |  |  | 3,450,953 |  |  |  | 3,138,311 |
Food and Beverage |  |  | 793,987 |  |  |  | 822,199 |
Telecommunications |  |  | 6,028 |  |  |  | 9,912 |
General and Administrative |  |  | 1,288,718 |  |  |  | 1,369,948 |
Sales and Marketing |  |  | 787,993 |  |  |  | 791,493 |
Repairs and Maintenance |  |  | 977,553 |  |  |  | 958,017 |
Hospitality |  |  | 760,202 |  |  |  | 731,206 |
Utilities |  |  | 1,028,512 |  |  |  | 1,129,453 |
Hotel Property Depreciation |  |  | 673,445 |  |  |  | 1,285,143 |
Real Estate and Personal Property Taxes, Insurance and Ground Rent |  |  | 669,866 |  |  |  | 831,054 |
Other |  |  | 27,240 |  |  |  | 25,985 |
TOTAL OPERATING EXPENSES |  |  | 10,464,497 |  |  |  | 11,092,721 |
OPERATING INCOME |  |  | 383,275 |  |  |  | 735,030 |
Interest Income on Advances to Affiliates - Related Party |  |  | - |  |  |  | 2,512 |
TOTAL OTHER INCOME |  |  | - |  |  |  | 2,512 |
Interest on Mortgage Notes Payable |  |  | 514,592 |  |  |  | 484,053 |
Interest on Notes Payable to Banks |  |  | 83,701 |  |  |  | 51,840 |
TOTAL INTEREST EXPENSE |  |  | 598,293 |  |  |  | 535,893 |
DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE, NET OF NON-CONTROLLING INTEREST |  |  | (215,018 | ) |  |  | 201,649 |
Gain on Disposal of Discontinued Operations |  |  | 2,351,817 |  |  |  | - |
CONSOLIDATED NET INCOME FROM DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE |  | $ | 2,136,799 |  |  | $ | 201,649 |
NET INCOME PER SHARE FROM DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE – BASIC AND DILUTED |  | $ | 0.26 |  |  | $ | 0.02 |
|  | YEARS ENDED |
|  | JANUARY 31, |
|  | 2016 |  |  | 2015 |
NET CASH PROVIDED BY OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE |  | $ | 339,182 |  |  | $ | 2,174,626 |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES FROM DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE |  | $ | 2,971,335 |  |  | $ | (3,422,911 | )

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 + Details
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