Acquired Intangible Assets and Goodwill (Tables)

12 Months Ended

Oct. 31, 2014

Acquired Intangible Assets and Goodwill [Abstract]

Acquired intangible assets and goodwill

	2014				2013
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Amortizable intangible assets:
Non-compete agreement	$	1,000,000	$	1,000,000	$	1,000,000	$	1,000,000
Customer relationships		2,451,073		1,271,130		2,451,073		1,149,033
Other		564,946		564,946		564,946		558,737
		4,016,019		2,836,076		4,016,019		2,707,770
Unamortizable intangible assets:
Goodwill		1,737,763		507,278		1,737,763		507,278
		1,737,763		507,278		1,737,763		507,278
Total goodwill and other intangibles	$	5,753,782	$	3,343,354	$	5,753,782	$	3,215,048

Estimated amortization expense

Amortization expense for the years ended October 31, 2014, 2013 and 2012 was $128,000, $140,000, and $145,000, respectively. Customer relationships related to the acquisition of Syscan in 2004 are being amortized over a period of 20 years. The weighted average remaining life of the Company's amortizable intangible assets was approximately 5 years at October 31, 2014. Estimated amortization expense for each of the following five years and thereafter is:

2015	$	122,098
2016		122,098
2017		122,098
2018		122,098
2019		122,098
Thereafter		569,453
	$	1,179,943

Changes in the carrying amount of goodwill

The changes in the carrying amount of the Company’s goodwill, and intangibles for the years ended October 31, 2014 and 2013 were:

Goodwill:

	Printing			Office Products and Furniture		Total
Balance at October 31, 2012:
Goodwill	$	2,226,837		$	1,230,485	$	3,457,322
Accumulated Impairment losses		-			-		-
		2,226,837			1,230,485		3,457,322
Goodwill acquired Fiscal 2013		-			-		-
Impairment losses Fiscal 2013		(2,226,837	)		-		(2,226,837	)
Balance at October 31, 2013:
Goodwill		2,226,837			1,230,485		3,457,322
Accumulated Impairment Losses		(2,226837	)		-		(2,226,837	)
		-			1,230,485		1,230,485
Goodwill acquired Fiscal 2014		-			-		-
Impairment losses Fiscal 2014		-			-		-
Balance at October 31, 2014:
Goodwill		2,226,837			1,230,485		3,457,322
Accumulated Impairment Losses		(2,226,837	)		-		(2,226,837	)
	$	-		$	1,230,485	$	1,230,485

Changes in the carrying amount of trademark and masthead, and other amortizing intangibles

Amortizing Intangible Assets (net of amortization expense):

	Printing		Office Products and Furniture		Total
Balance at October 31, 2012:
Amortizing Intangible Assets (net of amortization expense)	$	500,721	$	947,127	$	1,447,848
Accumulated Impairment losses		-		-		-
		500,721		947,127		1,447,848
Amortizing Intangible Assets (net of amortization expense) acquired Fiscal 2013		-		-		-
Impairment losses Fiscal 2013		-		-		-
Amortization expense		58,404		81,195		139,599
Balance at October 31, 2013:
Amortizing Intangible Assets (net of amortization expense)		442,317		865,932		1,308,249
Accumulated Impairment Losses		-		-		-
		442,317		865,932		1,308,249
Amortizing intangible acquired in Fiscal 2014		-		-		-
Impairment losses Fiscal 2014		-		-		-
Amortization expense		47,111		81,195		128,306
Balance at October 31, 2014:
Amortizing intangible		395,206		784,737		1,179,943
Accumulated Impairment losses		-		-		-
	$	395,206	$	784,737	$	1,179,943

Impairment charges

A summary of impairment charges from continuing operations is included in the table below:

		2014		2013		2012
Goodwill	$	-	$	2,226,837	$	-
Other intangibles		-		-		-
	$	-	$	2,226,837	$	-

A summary of impairment charges from discontinued operations is included in the table below and are associated with the former newspaper segment:

		2014		2013		2012
Goodwill	$	-	$	-	$	9,510,933
Other intangibles		-		-		-
Trademark & masthead		-		-		1,557,950
	$	-	$	-	$	11,068,883