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v3.22.2.2

LEASES (Tables) | 6 Months Ended
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Jul. 31, 2022
Lessee, Lease, Description [Line Items] |
SCHEDULE OF LEASE COSTS | The following table presents the Trust’s lease costs for the six months ended July 31, 2022: SCHEDULE OF LEASE COSTS
|  | Six Months Ended |
|  | July 31, 2022 |
Operating Lease Costs: |  |  |  |
Operating lease cost* |  |  | (24,080 | )
| * | Short term lease costs were immaterial.
SCHEDULE OF CASH FLOW INFORMATION | Supplemental cash flow information is as follows: SCHEDULE OF CASH FLOW INFORMATION
|  | Six Months Ended |
|  | July 31, 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | (82,836 | )
Lease obligations: |  |  |  |
Operating leases, net |  | $ | 2,291,379 |
Long-term obligations |  | $ | 2,267,645 |
SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES | Weighted average remaining lease terms and discount rates were as follows: SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES
Weighted average remaining lease term (years) |  | July 31, 2022 |
Operating leases |  |  | 35 |
Weighted average discount rate Operating leases |  |  | 4.85 | %
SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASE | The aggregate future lease payments for Operating Lease Liability as of July 31, 2021 are as follows: SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASE
For the Years Ending July 31, |  |  |
Operating Lease Liability |  |  |  |
2023 |  | $ | 67,171 |
2024 |  |  | 134,342 |
2025 |  |  | 134,355 |
2026 |  |  | 134,367 |
2027 |  |  | 134,379 |
Thereafter |  |  | 4,261,650 |
Total minimum lease payments |  | $ | 4,866,264 |
Less: amount representing interest |  |  | 2,574,885 |
Total present value of minimum payments |  |  | 2,291,379 |
Less: current portion |  | $ | 23,734 |
Long term portion of operating lease liability |  |  | 2,267,645 |
Finance Leases [Member] |
Lessee, Lease, Description [Line Items] |
SCHEDULE OF LEASE COSTS | The following table presents the Company’s lease costs for the three months ended July 31, 2022: SCHEDULE OF LEASE COSTS
|  | Six Months Ended |
|  | July 31, 2022 |
Finance Lease Costs: |  |  |  |
Amortization of right-of-use assets |  | $ | 13,874 |
Interest on lease obligations |  |  | 1,119 |
SCHEDULE OF CASH FLOW INFORMATION | Supplemental cash flow information is as follows: SCHEDULE OF CASH FLOW INFORMATION
|  | Six Months Ended |
|  | July 31, 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from finance leases |  | $ | (570 | )
Lease obligations: |  |  |  |
Finance leases, net |  | $ | 37,674 |
Long-term obligations |  | $ | 7,718 |
SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES | Weighted average remaining lease terms and discount rates were as follows: SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES
Weighted average remaining lease term (years) |  | July 31, 2022 |
Finance leases |  |  | 2 |
Weighted average discount rate |  |  | 4.85 | %
Finance leases |  |  |  |
SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR FINANCE LEASE | The aggregate future lease payments for Finance Lease Liability as of July 31, 2022 are as follows: SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR FINANCE LEASE
For the Years Ending July 31, |  |  |
Finance Lease Liability |  |  |  |
2023 |  |  | 15,562 |
2024 |  |  | 23,342 |
Total minimum lease payments |  | $ | 38,904 |
Less: amount representing interest |  |  | 1,230 |
Total present value of minimum payments |  |  | 37,674 |
Less: current portion |  | $ | 29,956 |
Long term portion of finance lease liability |  |  | 7,718 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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