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Consolidated Statements of Operations (USD $)
12 Months Ended
Jan. 31, 2013
Jan. 31, 2012
REVENUE    
Room $ 13,436,362 $ 13,523,680
Food and Beverage 1,068,025 836,984
Telecommunications   1,882
Other 210,570 242,322
Management and Trademark Fees, including $248,234 and $216,963 from related parties for 2013 and 2012, respectively 262,662 231,456
Payroll Reimbursements from Related Parties   2,231,712
TOTAL REVENUE 14,977,619 17,068,036
OPERATING EXPENSES    
Room 3,759,867 3,546,069
Food and Beverage 1,006,975 869,574
Telecommunications 51,607 45,720
General and Administrative 2,977,901 3,102,388
Sales and Marketing 1,083,503 1,110,495
Repairs and Maintenance 1,430,524 1,430,645
Hospitality 808,064 790,634
Utilities 1,263,748 1,200,192
Hotel Property Depreciation 1,754,289 1,734,734
Real Estate and Personal Property Taxes, Insurance and Ground Rent 954,232 917,878
Other 9,987 12,553
Payroll Costs Related to Management Contracts   2,231,712
TOTAL OPERATING EXPENSES 15,100,697 16,992,594
OPERATING INCOME (LOSS) (123,078) 75,442
Interest Income 8,937 3,721
TOTAL OTHER INCOME 8,937 3,721
Interest on Mortgage Notes Payable 909,366 1,490,995
Interest on Notes Payable to Banks 17,613 1,048
Interest on Other Notes Payable 34,730 35,464
TOTAL INTEREST EXPENSE 961,709 1,527,507
CONSOLIDATED LOSS BEFORE INCOME TAX PROVISION (1,075,850) (1,448,344)
CONSOLIDATED NET LOSS (1,075,850) (1,448,344)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (69,705) (369,603)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTERESTS $ (1,006,145) $ (1,078,741)
NET LOSS PER SHARE – Basic and Diluted (in Dollars per share) $ (0.12) $ (0.13)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING – Basic and Diluted (in Shares) 8,415,542 8,511,730
CASH DIVIDENDS PER SHARE (in Dollars per share) $ 0.01 $ 0.01