Debt (Tables)

12 Months Ended

Oct. 31, 2014

Debt [Abstract]

Schedule of long-term debt

At the dates indicated, debt consisted of the following:

	October 31,
	2014			2013
Term Note A dated October 7, 2013, due in monthly installments of $50,000 plus interest payments equal to the prime rate of interest plus 2% maturing April 1, 2015, collateralized by substantially all of the assets of the Company	$	9,850,000		$	10,450,000
Installment notes payable to banks, due in monthly installments plus interest at rates approximating the bank’s prime rate or the prime rate subject to various floors maturing in various periods ranging from December 2013-October 2016, collateralized by equipment and vehicles.		475,908			440,281
Notes payable to shareholders. The shareholder note of $2.5 million plus all accrued interest was initially due in one balloon payment in September 2014 pursuant to Term Note A maturity adjusted to April 2015. Interest is equal to the prime rate.		2,500,000			2,500,000
Note payable to a bank, due February 2015, including interest accrued at 5.00%, collateralized by specific accounts receivable of the Company. (1)		750,000			-
Capital lease obligation for printing equipment at an imputed interest rate of 6.02% per annum		43,312			56,380
Unamortized debt discount		(138,520	)		(477,387	)
		13,480,700			12,969,274
Less current portion long-term debt		12,697,218			902,565
Less current portion obligation under capital lease		14,931			13,817
Less short-term debt		750,000			-
Less debt discount		(138,520	)		-
Long-term debt, net of current portion and capital lease obligation	$	157,071		$	12,052,892
Continuing operations:
Long-term debt, net of current portion and revolving line credit	$	128,690		$	9,494,727
Long-term capital lease obligation		28,381			42,563
Current portion of long-term debt		10,197,218			902,565
Long-term notes payable to related party		-			2,500,000
Short-term notes payable to related party		2,500,000			-
Short-term debt		750,000			-
Current portion of capital lease obligation		14,931			13,817
Debt Discount		(138,520	)		(477,387	)
Total debt from continuing operations		13,480,700			12,476,285
Liabilities held for sale/discontinued operations - debt (Note 11)		-			492,989
Total indebtedness	$	13,480,700		$	12,969,274

(1) This short-term note was repaid in December 2014 upon collection of the specific account pledged as collateral.

Maturities of long-term debt and revolving line of credit

Maturities of debt and capital lease obligations for each of the next five years beginning November 1, 2014 are as follows:

November 1, 2014 through October 31, 2015	$	13,323,629
November 1, 2015 through October 31, 2016		144,543
November 1, 2016 through October 31, 2017		12,528
November 1, 2017 through October 31, 2018		-
November 1, 2018 through October 31, 2019		-
	$	13,480,700