XML 16 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
Jan. 31, 2012
Oct. 31, 2011
CURRENT ASSETS:    
CASH AND CASH EQUIVALENTS $ 63,050 $ 35,514
RESTRICTED CASH - TRANSIT INSURANCE 60,503 35,484
ACCOUNTS RECEIVABLE 73,087 120,300
STOCKYARDS INVENTORY 6,885 20,749
PREPAID EXPENSES 35,360 13,948
TOTAL CURRENT ASSETS 238,885 225,995
NON-CURRENT ASSETS:    
PROPERTY ON OPERATING LEASES, NET OF ACCUMULATED DEPRECIATION OF $500,149 AND $494,599 AT JANUARY 31, 2012 AND OCTOBER 31, 2011, RESPECTIVELY 1,662,458 1,668,008
PROPERTY USED IN STOCKYARD OPERATIONS, NET OF ACCUMULATED DEPRECIATION OF $217,057 AND $212,257 AT JANUARY 31, 2012 AND OCTOBER 31, 2011, RESPECTIVELY 1,067,467 1,072,267
PROPERTY HELD FOR DEVELOPMENT OR RESALE 52,250 52,250
OTHER ASSETS:    
RESTRICTED CASH - LETTER OF CREDIT 140,000 140,000
ART INVENTORY 10,000 10,000
TOTAL OTHER ASSETS 150,000 150,000
TOTAL ASSETS 3,171,060 3,168,520
CURRENT LIABILITIES:    
ACCOUNTS PAYABLE AND ACCRUED EXPENSES 134,561 160,370
LINE OF CREDIT - ORDER BUYING 0 106,395
TRANSIT INSURANCE 60,503 35,484
TOTAL CURRENT LIABILITIES 195,064 302,249
NON-CURRENT LIABILITIES:    
LONG-TERM DEBT, RELATED PARTY 847,000 847,000
LONG-TERM PENSION LIABILITY 784,637 812,820
SALARIES AND INTEREST PAYABLE - OFFICERS 573,375 458,700
REAL ESTATE TAXES PAYABLE 47,117 56,200
TOTAL NON-CURRENT LIABILITIES 2,252,129 2,174,720
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 JANUARY 31, 2012 AND OCTOBER 31, 2011, RESPECTIVELY AND AGGREGATE LIQUIDATION PREFERENCE OF $10 PER SHARE FOR $ 91,026,550 AT JANUARY 31, 2012 AND OCTOBER 31, 2011, 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 JANUARY 31, 2012 AND OCTOBER 31, 2011, RESPECTIVELY 53,138 53,138
ADDITIONAL PAID-IN CAPITAL 25,526,721 25,526,721
ACCUMULATED DEFICIT (12,051,348) (12,056,664)
986,865 SHARES OF COMMON STOCK HELD IN TREASURY, AT COST (11,003,545) (11,003,545)
COMPREHENSIVE INCOME: PENSION VALUATION RESERVE (1,892,126) (1,919,126)
TOTAL STOCKHOLDER EQUITY 723,867 691,551
TOTAL LIABILITIES AND STOCKHOLDER EQUITY $ 3,171,060 $ 3,168,520