Notes Payable to an Officer and Stockholders

12 Months Ended

Oct. 31, 2012

Debt Disclosure [Abstract]

Notes Payable to an Officer and Stockholders

6. Notes Payable to an Officer and Stockholders

At October 31, 2012 and 2011, without taking into effect any unamortized discounts, notes payable to an officer and to stockholders consisted of the following:

	2012		2011
Unsecured convertible note payable to major stockholder; principal and interest at 6% due on March 10, 2010.	$	—	$	64,000
Unsecured convertible note payable to major stockholder; principal and interest at 6% due on October 15, 2010.	$	—	$	30,000
Unsecured, interest-free convertible notes payable to former officer/director of the Company; principal due on payment schedule through May 2014.	$	136,950	$	160,000
Unsecured notes payable to officers/directors of the Company; principal and interest at 6% due on demand.	$	—	$	164,000
Unsecured convertible note payable to various stockholders; principal and interest at 6% due between December 9, 2010 and March 31, 2013.	$	52,000	$	147,000
		188,950		565,000
Less current maturities	$	142,000	$	565,000
Long term portion of notes payable	$	46,950	$	—

Of the above notes payable, $50,000 were past due as of October 31, 2012. The Company is currently negotiating with the holder of those notes to either extend the maturity date or convert the notes into shares of common stock. The company’s remaining outstanding note matures as follows for the years ending:

2013	$	90,000
2014		46,950
Thereafter		-
	$	136,950