Operating Leases (Tables)
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9 Months Ended |
Apr. 30, 2026 |
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| Operating Leases |
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| Schedule of revenues by lease and non-lease components |
| Schedule of revenues by lease and non-lease components | |
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Three Months Ended
April 30 | | |
Nine Months Ended
April 30 | |
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2026 | | |
2025 | | |
2026 | | |
2025 | |
| Base rent - fixed | |
$ | 4,791,801 | | |
$ | 5,108,916 | | |
$ | 14,289,285 | | |
$ | 15,380,462 | |
| Reimbursements of common area costs | |
| 169,193 | | |
| 190,017 | | |
| 457,324 | | |
| 491,610 | |
| Non-lease components (real estate taxes) | |
| 353,757 | | |
| 333,218 | | |
| 1,031,038 | | |
| 942,652 | |
| Rental income | |
$ | 5,314,751 | | |
$ | 5,632,151 | | |
$ | 15,777,647 | | |
$ | 16,814,724 | |
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| Schedule of future minimum non-cancelable rental income |
| Schedule of future minimum non-cancelable rental income | |
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As of April 30, 2026 | |
| Fiscal Year | |
Company
Owned
Property | | |
Leased
Property | | |
Total | |
| For the remainder of 2026 | |
$ | 3,035,429 | | |
$ | 1,520,879 | | |
$ | 4,556,308 | |
| 2027 | |
| 10,365,723 | | |
| 5,093,778 | | |
| 15,459,501 | |
| 2028 | |
| 9,961,035 | | |
| 4,948,347 | | |
| 14,909,382 | |
| 2029 | |
| 9,196,290 | | |
| 4,008,463 | | |
| 13,204,753 | |
| 2030 | |
| 7,553,790 | | |
| 2,359,731 | | |
| 9,913,521 | |
| 2031 | |
| 6,246,983 | | |
| 1,719,222 | | |
| 7,966,205 | |
| After 2031 | |
| 31,581,376 | | |
| 6,639,757 | | |
| 38,221,133 | |
| Total | |
$ | 77,940,626 | | |
$ | 26,290,177 | | |
$ | 104,230,803 | |
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| Schedule of operating right-of-use assets, liabilities, and monthly rent expense |
| Schedule of operating right-of-use assets, liabilities, and monthly rent expense | |
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| Jamaica Avenue at 169th Street | |
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| Increase in | | |
| Increase in | | |
| Decrease in | |
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| Operating | | |
| Operating | | |
| Monthly | |
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| Lease Right- | | |
| Lease | | |
| Rent | |
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| of-Use Asset | | |
| Liability | | |
| Expense | |
| Remeasurement change resulting from August 2025 lease extension | |
$ | 1,575,690 | | |
$ | 1,575,690 | | |
$ | (14,766 | ) |
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| Schedule of sublease rental income |
| Schedule of sublease rental income |
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Three Months Ended
April 30 | | |
Nine Months Ended
April 30 | |
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2026 | | |
2025 | | |
2026 | | |
2025 | |
| Sublease income | |
$ | 1,868,414 | | |
$ | 1,863,814 | | |
$ | 5,599,971 | | |
$ | 5,529,394 | |
| Operating lease cost | |
| (705,166 | ) | |
| (749,726 | ) | |
| (2,115,498 | ) | |
| (2,248,031 | ) |
| Excess of sublease income over lease cost | |
$ | 1,163,248 | | |
$ | 1,114,088 | | |
$ | 3,484,473 | | |
$ | 3,281,363 | |
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| Schedule of other information related to operating leases |
| Schedule of other information related to operating
leases |
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Three Months Ended
April 30 | | |
Nine Months Ended
April 30 | |
| Other information: | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Operating cash flows from operating leases | |
$ | 562,890 | | |
$ | 542,501 | | |
$ | 1,657,419 | | |
$ | 1,623,144 | |
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| Schedule of annual undiscounted cash flows of the operating lease liabilities |
| Schedule of annual undiscounted cash flows of
the operating lease liabilities |
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| Period Ended April 30, | |
Operating
Leases | |
| 2027 | |
$ | 2,323,725 | |
| 2028 | |
| 2,343,903 | |
| 2029 | |
| 2,364,753 | |
| 2030 | |
| 2,386,297 | |
| 2031 | |
| 1,870,411 | |
| Thereafter | |
| 21,126,482 | |
| Total undiscounted cash flows | |
| 32,415,571 | |
| Less: present value discount | |
| (7,771,959 | ) |
| Total Lease Liabilities | |
$ | 24,643,612 | |
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