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Discontinued Operations and Assets Held for Sale (Tables) | 6 Months Ended
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Jul. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Assets and Liabilities of Discontinued Operations | The following tables lists the assets of discontinued operations and held for sale and liabilities of discontinued operations and held for sale as of the July 31, 2018 and January 31, 2018 and the discontinued operations for IBC for the three and six months period ended July 31, 2018 and IBC and Ontario for the and three and six months period July 31, 2017
DISCONTINUED OPERATIONS & HELD FOR SALE
|  | JULY 31, 2018 |
|  | Total |  |  | Yuma |  |  | IBC |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 215,445 |  |  |  | 218,643 |  |  |  | (3,198 | )
Accounts Receivable |  |  | 136,363 |  |  |  | 44,893 |  |  |  | 91,470 |
Prepaid Expenses and Other Current Assets |  |  | 74,449 |  |  |  | 13,680 |  |  |  | 60,769 |
Total Current Assets of Discontinued Operations |  |  | 426,257 |  |  |  | 277,216 |  |  |  | 149,041 |
Property, Plant and Equipment, net |  |  | 5,144,983 |  |  |  | 4,665,764 |  |  |  | 479,219 |
TOTAL ASSETS OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | 5,571,240 |  |  |  | 4,942,980 |  |  |  | 628,260 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts Payable and Accrued Expenses |  | $ | 402,869 |  |  |  | 201,990 |  |  |  | 200,879 |
Current Portion of Mortgage Notes Payable |  |  | 168,875 |  |  |  | 168,875 |  |  |  |  |
Total Current Liabilities of Discontinued Operations |  |  | 571,744 |  |  |  | 370,865 |  |  |  | 200,879 |
Mortgage Notes Payable |  |  | 5,413,382 |  |  |  | 5,413,382 |  |  |  |  |
TOTAL LIABILITIES OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | 5,985,126 |  |  |  | 5,784,247 |  |  |  | 200,879 |
DISCONTINUED OPERATIONS & HELD FOR SALE
|  | JANUARY 31, 2018 |
|  | Total |  |  | Yuma |  |  | IBC |  |  | Ontario |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 200,705 |  |  |  | 178,317 |  |  |  | 22,388 |  |  |  |  |
Accounts Receivable |  |  | 265,377 |  |  |  | 70,139 |  |  |  | 195,238 |  |  |  |  |
Prepaid Expenses and Other Current Assets |  |  | 25,447 |  |  |  | 10,803 |  |  |  | 14,644 |  |  |  |  |
Total Current Assets of Discontinued Operations |  |  | 491,529 |  |  |  | 259,259 |  |  |  | 232,270 |  |  |  | - |
Property, Plant and Equipment, net |  |  | 5,240,535 |  |  |  | 4,815,664 |  |  |  | 424,871 |  |  |  |  |
TOTAL ASSETS OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | 5,732,064 |  |  |  | 5,074,923 |  |  |  | 657,141 |  |  |  | - |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts Payable and Accrued Expenses |  | $ | 607,941 |  |  |  | 269,242 |  |  |  | 251,723 |  |  |  | 86,976 |
Current Portion of Mortgage Notes Payable |  |  | 289,098 |  |  |  | 165,239 |  |  |  | 123,859 |  |  |  |  |
Total Current Liabilities of Discontinued Operations |  |  | 897,039 |  |  |  | 434,481 |  |  |  | 375,582 |  |  |  | 86,976 |
Mortgage Notes Payable |  |  | 5,490,374 |  |  |  | 5,490,374 |  |  |  |  |  |  |  |  |
TOTAL LIABILITIES OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | 6,387,413 |  |  |  | 5,924,855 |  |  |  | 375,582 |  |  |  | 86,976 |
|  | FOR THE SIX MONTHS ENDED |  |  |  |
|  | JULY 31, |  |  |  |
|  | 2018 |  |  | 2017 |  |  | 2017 |
|  |  |  |  |  |  |  | Ontario |  |  | IBC |
REVENUE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reservation and Convention |  | $ | 265,679 |  |  | $ | 1,992,267 |  |  | $ | 1,470,743 |  |  | $ | 521,524 |
TOTAL REVENUE |  |  | 265,679 |  |  |  | 1,992,267 |  |  |  | 1,470,743 |  |  |  | 521,524 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  |  |  |  |  |  | 936,647 |  |  |  | 939,663 |  |  |  | (3,016 | )
Food and Beverage |  |  |  |  |  |  | 66,152 |  |  |  | 66,152 |  |  |  | - |
General and Administrative |  |  | 406,921 |  |  |  | 802,811 |  |  |  | 256,986 |  |  |  | 545,825 |
Sales and Marketing |  |  | 347,610 |  |  |  | 611,755 |  |  |  | 123,299 |  |  |  | 488,456 |
Reservation Acquisition Costs |  |  | 142,842 |  |  |  | - |  |  |  | - |  |  |  | - |
Depreciation |  |  | 51,008 |  |  |  | 227,525 |  |  |  | 177,824 |  |  |  | 49,701 |
Other |  |  |  |  |  |  | 390,337 |  |  |  | 356,837 |  |  |  | 33,500 |
TOTAL OPERATING EXPENSES |  |  | 948,382 |  |  |  | 3,035,227 |  |  |  | 1,920,761 |  |  |  | 1,114,466 |
OPERATING LOSS |  |  | (682,702 | ) |  |  | (1,042,959 | ) |  |  | (450,018 | ) |  |  | (592,941 | )
Interest on Notes Payable to Banks |  |  | 3,725 |  |  |  | 137,994 |  |  |  | 127,254 |  |  |  | 10,740 |
TOTAL INTEREST EXPENSE |  |  | 3,725 |  |  |  | 137,994 |  |  |  | 127,254 |  |  |  | 10,740 |
CONSOLIDATED NET LOSS OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | (686,427 | ) |  | $ | (1,180,953 | ) |  | $ | (577,272 | ) |  | $ | (603,681 | )
|  | FOR THE THREE MONTHS ENDED |  |  |  |
|  | JULY 31, |  |  |  |
|  | 2018 |  |  | 2017 |  |  | 2017 |
|  |  |  |  |  |  |  | Ontario |  |  | IBC |
REVENUE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reservation and Convention |  | $ | 135,498 |  |  | $ | 662,699 |  |  | $ | 372,485 |  |  | $ | 290,214 |
TOTAL REVENUE |  |  | 135,498 |  |  |  | 662,699 |  |  |  | 372,485 |  |  |  | 290,214 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  |  |  |  |  |  | 644,224 |  |  |  | 645,177 |  |  |  | (953 | )
Food and Beverage |  |  |  |  |  |  | 17,707 |  |  |  | 17,707 |  |  |  | - |
General and Administrative |  |  | 179,241 |  |  |  | 446,158 |  |  |  | 115,581 |  |  |  | 330,577 |
Sales and Marketing |  |  | 96,634 |  |  |  | 312,749 |  |  |  | 63,996 |  |  |  | 248,753 |
Reservation Acquisition Costs |  |  | (46,735 | ) |  |  | - |  |  |  | - |  |  |  | - |
Depreciation |  |  | (7,043 | ) |  |  | 95,922 |  |  |  | 52,684 |  |  |  | 43,238 |
Other |  |  |  |  |  |  | 167,960 |  |  |  | 162,978 |  |  |  | 4,982 |
TOTAL OPERATING EXPENSES |  |  | 222,097 |  |  |  | 1,684,721 |  |  |  | 1,058,123 |  |  |  | 626,598 |
OPERATING LOSS |  |  | (86,599 | ) |  |  | (1,022,021 | ) |  |  | (685,638 | ) |  |  | (336,383 | )
Interest (net) |  |  | 1,173 |  |  |  | 62,905 |  |  |  | 62,905 |  |  |  | - |
TOTAL INTEREST EXPENSE |  |  | 1,173 |  |  |  | 62,905 |  |  |  | 62,905 |  |  |  | - |
CONSOLIDATED NET LOSS OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | (87,772 | ) |  | $ | (1,084,926 | ) |  | $ | (748,543 | ) |  | $ | (336,383 | )

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