Note 15 - Federal Income Taxes (Tables)

12 Months Ended

Jan. 31, 2013

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Total and net deferred income tax assets at January 31,	2013			2012
Net operating loss carryforwards	$	4,622,000		$	4,844,000
Bad debt allowance		(17,000	)		(11,000)
Accrued expenses		1,496,000			1,018,000
Prepaid insurance		13,000			13,000
Alternative minimum tax credit		61,000			61,000
Total deferred income tax assets		6,175,000			5,925,000
Deferred income tax liability associated with book/tax differences in hotel properties		(2,263,000	)		(2,731,000	)
Net deferred income tax asset		3,912,000			3,194,000
Valuation allowance		(3,912,000	)		(3,194,000	)
Net deferred income tax asset	$	-		$	-

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income taxes for the year ended January 31,	2013		2012
Current income tax provision (benefit)	$	-	$	-
Deferred income tax benefit (provision)		-		-
Net income tax provision (benefit)	$	-	$	-

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Federal statutory rates	$	(406,000	)	(34	%)
State income taxes		(88,000	)	(7	%)
Change in valuation allowance		718,000		60	%
True-ups to prior year return		(237,000	)	(20	%)
Other		13,000		1	%
Effective rate	$	0		0	%

Federal statutory rates	$	(428,000	)	(34	%)
State income taxes		(89,000	)	(7	%)
Change in valuation allowance		1,137,000		90	%
True-ups to prior year return		(620,000)		(49	%)
Other		0		0	%
Effective rate	$	0		0	%