Notes Payable (Tables)

9 Months Ended

Feb. 28, 2013

Notes Payable

               Notes payable as of February 28, 2013 and May 31, 2012 are as follows:

	February 28,	May 31,
	2013	2012
Note payable to F&M Bank & Trust Company, prime rate of interest not less than 4.5%, due March 13, 2015, monthly principal payments of $76,561 plus interest	$       4,573,333	$       5,226,665
Note payable by variable interest entity to F&M Bank & Trust Company, prime rate of interest but not less than 4.75%, due March 15, 2014, monthly installments of $35,512, secured by buildings and land	3,431,356	3,623,070
Capitalized lease payable, due August 15, 2016, 5% interest, monthly payments of $10,625 plus $0.50 per pallet for monthly sales in excess of 12,500	417,492	481,597
Note payable to BancFirst, prime rate of interest plus 1%, paid June 2012	-	8,047
Note payable to Robert Rosene, 7.5% interest, due January 15, 2014	2,066,000	2,066,000
Note payable to Warren Kruger, 7.5% interest, due January 15, 2014	527,716	527,716
Other notes payable	88,962	110,778
Total Notes Payable	11,104,859	12,043,873
Less: Current portion	1,291,736	1,286,312
Long-term Debt	$       9,813,123	$     10,757,561