Operating Leases (Tables)
|
3 Months Ended |
Oct. 31, 2022 |
|---|
| Disclosure Text Block [Abstract] |
|
| Schedule of revenues by lease and non-lease components |
| | |
Three Months Ended
October 31, | |
| | |
2022 | | |
2021 | |
| Base rent - fixed | |
$ | 5,330,541 | | |
$ | 4,675,832 | |
| Reimbursements of common area costs | |
| 177,365 | | |
| 160,317 | |
| Non-lease components (real estate taxes) | |
| 261,828 | | |
| 243,398 | |
| Rental income | |
$ | 5,769,734 | | |
$ | 5,079,547 | |
|
| Schedule of future minimum non-cancelable rental income |
| | |
As of October 31, 2022 | |
| Fiscal Year | |
Company
Owned
Property | | |
Leased
Property | | |
Total | |
| For the remainder of 2023 | |
$ | 9,403,294 | | |
$ | 4,043,967 | | |
$ | 13,447,261 | |
| 2024 | |
| 8,720,935 | | |
| 3,267,324 | | |
| 11,988,259 | |
| 2025 | |
| 8,191,367 | | |
| 2,689,008 | | |
| 10,880,375 | |
| 2026 | |
| 7,342,321 | | |
| 2,554,525 | | |
| 9,896,846 | |
| 2027 | |
| 6,631,391 | | |
| 2,411,741 | | |
| 9,043,132 | |
| 2028 | |
| 5,818,355 | | |
| 2,365,965 | | |
| 8,184,320 | |
| After 2028 | |
| 25,800,170 | | |
| 3,090,048 | | |
| 28,890,218 | |
| Total | |
$ | 71,907,833 | | |
$ | 20,422,578 | | |
$ | 92,330,411 | |
|
| Schedule of operating lease right-of-use assets, liabilities and rent expense |
| | |
Increase From July 2022
Modification | |
| | |
Operating
Lease Right-
of-Use-Asset | | |
Operating
Lease
Liability | | |
Monthly
Rent
Expense | |
| Increase resulting from July 2022 lease modification | |
$ | 94,412 | | |
$ | 94,412 | | |
$ | 2,563 | |
|
| Schedule of rental expense |
| | |
Three Months Ended
October 31, | |
| | |
2022 | | |
2021 | |
| Sublease income | |
$ | 1,839,075 | | |
$ | 1,786,176 | |
| Operating lease cost | |
| (840,400 | ) | |
| (832,711 | ) |
| Excess of sublease income over lease cost | |
$ | 998,675 | | |
$ | 953,465 | |
|
| Schedule of additional information related to leases |
| | |
Three Months Ended
October 31, | |
| Other information: | |
2022 | | |
2021 | |
| Operating cash flows from operating leases | |
$ | 531,288 | | |
$ | 527,214 | |
|
| Schedule of annual undiscounted cash flows of the operating lease liabilities |
| Period Ended | |
Operating
Leases | |
| October 31, 2023 | |
$ | 2,137,167 | |
| October 31, 2024 | |
| 2,154,504 | |
| October 31, 2025 | |
| 2,171,537 | |
| October 31, 2026 | |
| 2,272,955 | |
| October 31, 2027 | |
| 2,333,737 | |
| Thereafter | |
| 22,672,158 | |
| Total undiscounted cash flows | |
| 33,742,058 | |
| Less: present value discount | |
| (7,477,609 | ) |
| Total Lease Liabilities | |
$ | 26,264,449 | |
|