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PREPAID GREEN COFFEE
3 Months Ended
Jan. 31, 2012
Notes to Financial Statements  
PREPAID GREEN COFFEE

 

NOTE 5 - PREPAID GREEN COFFEE:

 

Prepaid coffee is an item that emanates from OPTCO. The balance represents advance payments made by OPTCO to several coffee growing cooperatives for the purchase of green coffee. Interest is charged to the cooperatives for these advances. Interest earned was $11,214 and $19,779 for the three months ended January 2012 and 2011, respectively. The prepaid coffee balance was $236,718 at January 31, 2012 and $388,754 at October 31, 2011.