XML 16 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
Jul. 31, 2011
Oct. 31, 2010
CURRENT ASSETS:    
CASH AND CASH EQUIVALENTS $ 78,472 $ 510,361
RESTRICTED CASH - TRANSIT INSURANCE 40,700 26,000
ACCOUNTS RECEIVABLE 96,784 163,879
STOCKYARDS INVENTORY 1,260 14,608
PREPAID EXPENSES 29,642 12,461
TOTAL CURRENT ASSETS 246,858 727,309
NON-CURRENT ASSETS:    
PROPERTY ON OPERATING LEASES, NET OF ACCUMULATED DEPRECIATION OF $489,047 AND $472,399 AT JULY 31, 2011 AND OCTOBER 31, 2010, RESPECTIVELY 1,673,557 1,676,407
PROPERTY USED IN STOCKYARD OPERATIONS, NET OF ACCUMULATED DEPRECIATION OF $207,157 AND $191,857 AT JULY 31, 2011 AND OCTOBER 31, 2010, RESPECTIVELY 1,056,282 1,034,672
PROPERTY HELD FOR DEVELOPMENT OR RESALE 52,250 52,250
OTHER ASSETS:    
RESTRICTED CASH - LETTER OF CREDIT 140,000 140,000
ART INVENTORY 100,000 100,000
TOTAL OTHER ASSETS 240,000 240,000
TOTAL ASSETS 3,268,947 3,730,638
CURRENT LIABILITIES:    
ACCOUNTS PAYABLE AND ACCRUED EXPENSES 99,091 156,461
LINE OF CREDIT - ORDER BUYING 0 154,366
TRANSIT INSURANCE 40,700 26,000
TOTAL CURRENT LIABILITIES 139,791 336,827
NON-CURRENT LIABILITIES:    
LONG-TERM DEBT, RELATED PARTY 847,000 847,000
LONG-TERM PENSION LIABILITY 714,830 869,676
SALARIES AND INTEREST PAYABLE - OFFICERS 344,025 175,000
REAL ESTATE TAXES PAYABLE 55,182 44,543
TOTAL NON-CURRENT LIABILITIES 1,961,037 1,936,219
COMMITMENTS AND CONTINGENCIES 0 0
STOCKHOLDERS' EQUITY:    
PREFERRED STOCK, $0.01 PAR VALUE: 10,000,000 SHARES AUTHORIZED; 9,102,655 SHARES ISSUED AND OUTSTANDING AT JULY 31, 2011 AND OCTOBER 31, 2010, RESPECTIVELY AND AGGREGATE LIQUIDATION PREFERENCE OF $10 PER SHARE FOR $ 91,026,550 AT JULY 31, 2011 AND OCTOBER 31, 2010, RESPECTIVELY 91,027 91,027
COMMON STOCK, $0.01 PAR VALUE: 10,000,000 SHARES AUTHORIZED; 5,313,794 SHARES ISSUED AND 4,326,929 SHARES OUT- STANDING AT JULY 31, 2011 AND OCTOBER 31, 2010, RESPECTIVELY 53,138 53,138
ADDITIONAL PAID-IN CAPITAL 25,526,721 25,526,721
ACCUMULATED DEFICIT (11,685,849) (11,315,376)
986,865 SHARES OF COMMON STOCK HELD IN TREASURY, AT COST (11,003,545) (11,003,545)
COMPREHENSIVE INCOME:    
PENSION VALUATION RESERVE (1,813,373) (1,894,373)
TOTAL STOCKHOLDERS' (DEFICIT) EQUITY 1,168,119 1,457,592
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY $ 3,268,947 $ 3,730,638