XML 19 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jan. 31, 2018
Jan. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Consolidated Net Income (Loss) $ 6,807,901 $ (2,626,754)
Adjustments to Reconcile Consolidated Net Income (Loss) to Net Cash Used In Operating Activities:    
Stock-Based Compensation 86,683 97,265
Recovery of Uncollectible Receivables (25,157) 19,750
Depreciation 1,469,195 2,094,401
Goodwill Impairment 500,000
Amortization of Intangibles 433,000 67,000
Amortization of Debt Discounts and Deferred Financing Fees 75,937 29,892
Gain on Disposal of Assets (11,445,879)
Changes in Assets and Liabilities:    
Accounts Receivable 399,966 (475,702)
Prepaid Expenses and Other Assets 13,376 (50,329)
Accounts Payable and Accrued Expenses 133,919 (26,489)
NET CASH USED IN OPERATING ACTIVITIES (1,551,059) (870,966)
CASH FLOWS FROM INVESTING ACTIVITIES    
Improvements and Additions to Hotel Properties (2,778,817) (2,254,499)
Purchase of Marketable Securities (1,000,000)
Cash Received From Sale of Hotel Property 9,603,610
Lendings on Advances to Affiliates - Related Party (1,956,061) (879,650)
Collections on Advances to Affiliates - Related Party 606,541 2,231,001
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 4,475,273 (903,148)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal Payments on Mortgage Notes Payable (681,868) (491,806)
Borrowings on Mortgage Notes Payable 5,000,000
Payments on Notes Payable to Banks, net of financing costs (2,428,962) (1,470,570)
Borrowings on Notes Payable to Banks, net of financing costs 1,370,000 2,494,051
Payments on Line of Credit - Related Party (775,000) (61,356)
Borrowings on Line of Credit - Related Party 632,384 230,000
Payments on Notes Payable - Related Party (2,022,792) (701,113)
Borrowings on Notes Payable - Related Party 2,000,184 683,230
Payments on Other Notes Payable (43,195) (36,622)
Borrowings on Other Notes Payable 633,956 555,000
Payment of Dividends (197,512) (96,630)
Proceeds from Sale of Non-Controlling Ownership Interest in Subsidiary, net 3,454,226 55,000
Sale of Shares of Beneficial Interest 400,000
Distributions to Non-Controlling Interest Holders (5,757,534) (697,324)
Repurchase of Treasury Stock (300,044) (77,037)
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,283,843 384,823
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 4,208,057 (1,389,291)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 568,396 1,957,687
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 4,776,453 $ 568,396