NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY	3 Months Ended
Apr. 30, 2023
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 December 31, 2023, 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 April 30, 2023, and January 31, 2023, the Trust had an amount receivable of approximately $27,000 and $0, respectively. During the three months ended April 30, 2023 and 2022, the Trust accrued approximately $0, respectively, of interest expense.

NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY

3 Months Ended

Apr. 30, 2023

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 December 31, 2023, 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 April 30, 2023, and January 31, 2023, the Trust had an amount receivable of approximately $27,000 and $0, respectively. During the three months ended April 30, 2023 and 2022, the Trust accrued approximately $0, respectively, of interest expense.