Debt (Tables)

3 Months Ended

Jan. 31, 2015

Debt [Abstract]

Schedule of long-term debt

At the dates indicated, debt consisted of the following:

	January 31, 2015			October 31, 2014
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.	$	9,700,000		$	9,850,000
Installment notes payable to banks and Lessor, 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 March 2014-January 2017, collateralized by equipment and vehicles.		610,239			475,908
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
Notes 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		39,662			43,312
Unamortized debt discount		(55,216	)		(138,520	)
		12,794,685			13,480,700
Less current portion long-term debt		12,616,602			12,697,218
Less current portion obligation under capital lease		15,157			14,931
Less short-term debt		-			750,000
Less debt discount		(55,216	)		(138,520	)
Long-term debt, net of current portion and capital lease obligation	$	218,142		$	157,071
Continuing operations:
Long-term debt, net of current portion	$	193,637		$	128,690
Long-term capital lease obligation		24,505			28,381
Current portion of long-term debt		10,116,602			10,197,218
Notes payable to related party		2,500,000			2,500,000
Current portion of capital lease obligation		15,157			14,931
Short-term debt		-			750,000
Debt discount		(55,216	)		(138,520	)
Total indebtedness	$	12,794,685		$	13,480,700

(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 capital lease obligations

Maturities of long-term debt and capital lease obligations from continuing and discontinued operations for each of the next five years beginning February 1, 2015:

February 1, 2015 through January 31,2016	$	12,576,543
February 1, 2016 through January 31,2017		209,728
February 1, 2017 through January 31,2018		8,414
February 1, 2018 through January 31,2019		-
February 1, 2019 through January 31,2020		-
	$	12,794,685