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Lines of Credit - Related Party | 12 Months Ended
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Jan. 31, 2020
Debt Disclosure [Abstract] |
Lines of Credit - Related Party | 14. LINES OF CREDIT – RELATED PARTY On December 1, 2014, the Trust entered into a $1,000,000 net maximum Demand/Revolving Line of Credit/Promissory Note with Rare Earth Financial, LLC, an entity which is wholly owned by Mr. Wirth and his family members. The Demand/Revolving Line of Credit/Promissory Note, as amended on June 19, 2017, bears interest at 7.0% per annum for both a payable and receivable, is interest only quarterly and matures on June 30, 2021, and renews annually. No prepayment penalty exists on the Demand/Revolving Line of Credit/Promissory Note. The balance fluctuates significantly through the period. The Demand/Revolving Line of Credit/Promissory Note has a net maximum borrowing/lending capacity of $1,000,000. As of January 31, 2020 and January 31, 2019, the Trust had an amount receivable of approximately $-0-, including accrued interest and $632,000, respectively. During the twelve months period ended January 31, 2020, the Trust advanced approximately $256,000, received approximately $888,000 in repayments and accrued approximately $21,000 of interest income. As of January 31, 2020, the Trust had an Advance to Affiliate credit facilities with an aggregate maximum borrowing capacity of $1,000,000, which is available through June 30, 2021, and automatically renews year to year, unless either party gives six-month advance notice to terminate. As of January 31, 2020, the Trust had an amount receivable of the Advances to Affiliate credit facility of approximately $1,000,000. As of August 1, 2020, the amount receivable from the Advance to Affiliate credit facility was approximately $1,000,000, which is due from Tempe/Phoenix Airport Resort LLC.

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