NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY	6 Months Ended
Jul. 31, 2022
Notes Payable And Notes Receivable Related Party
NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY	7. NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY On December 1, 2014, the Trust entered a 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, interest is due quarterly, matures on August 24, 2022, and automatically renews annually each calendar year. No prepayment penalty exists on the Demand/Revolving Line of Credit/Promissory Note. The balance fluctuates significantly through the period. On December 30, 2020, the Demand/Revolving Line of Credit/Promissory Note was extended and increased to the current level of $2,000,000. As of July 31, 2022, and January 31, 2022, the Trust had an amount payable of approximately $0 and $977,000, respectively. During the six months ended July 31, 2022 and 2021, the Trust accrued approximately $0, respectively, of interest expense.

NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY

6 Months Ended

Jul. 31, 2022

Notes Payable And Notes Receivable Related Party

NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY

7. NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY

On December 1, 2014, the Trust entered a 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, interest is due quarterly, matures on August 24, 2022, and automatically renews annually each calendar year. No prepayment penalty exists on the Demand/Revolving Line of Credit/Promissory Note. The balance fluctuates significantly through the period. On December 30, 2020, the Demand/Revolving Line of Credit/Promissory Note was extended and increased to the current level of $2,000,000. As of July 31, 2022, and January 31, 2022, the Trust had an amount payable of approximately $0 and $977,000, respectively. During the six months ended July 31, 2022 and 2021, the Trust accrued approximately $0, respectively, of interest expense.