XML 38 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
Debt (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended
Jun. 02, 2016
Feb. 29, 2016
Jan. 07, 2016
Jan. 31, 2014
Aug. 31, 2016
Jan. 31, 2014
Aug. 31, 2016
May 31, 2016
Dec. 15, 2005
Preferred stock amount         $ 5   $ 5 $ 5  
Maturities long term debt current         3,201,905   3,201,905    
Maturities long term debt year two         9,564,108   9,564,108    
Maturities long term debt year three         7,309,827   7,309,827    
Maturities long term debt year four         7,736   7,736    
Maturities long term debt year five         $ 0   $ 0    
Private Pallet Leasing Company [Member]                  
Debt instrument interest rate         5.00%   5.00%    
Capital expenditure on fixed assets         $ 5,400,000   $ 5,400,000    
Monthly lease payments amount         $ 100,000        
Capital lease payable invoice basis rate         $ 6.25   $ 6.25    
Maturities long term debt current         $ 1,091,375   $ 1,091,375    
Maturities long term debt year two         1,147,092   1,147,092    
Maturities long term debt year three         $ 433,611   $ 433,611    
Robert B. Rosene, Jr. [Member]                  
Debt instrument interest rate                 7.50%
Notes payable                 $ 2,066,000
Yorktown Management Financial Services, LLC [Member]                  
Debt instrument interest rate   5.00%              
Loan term   3 years              
Debt monthly payment   $ 20,629              
Notes payable   $ 688,296              
Restated Note [Member] | Mr.Rosene [Member]                  
Debt instrument principal amount $ 2,066,000                
Debt instrument maturity date Jan. 15, 2018                
Debt accrued interest $ 2,475,690                
Notes payable $ 4,541,690                
Greystone and GSM [Member]                  
Borrowed loans       $ 2,500,000   $ 2,500,000      
Greystone and GSM [Member] | Revolving Loan [Member]                  
Debt instrument principal amount       2,500,000   2,500,000      
Greystone and GSM [Member] | Term Loan [Member]                  
Debt instrument principal amount       $ 9,200,000   $ 9,200,000      
New Equipment Loan [Member] | International Bank of Commerce [Member]                  
Debt instrument principal amount     $ 2,530,072            
Term Loan [Member] | International Bank of Commerce [Member]                  
Debt instrument principal amount     $ 2,917,422            
Term Loan A [Member]                  
Loan term     7 years            
Debt monthly payment     $ 74,455            
Term Loan A [Member] | International Bank of Commerce [Member]                  
Debt instrument principal amount     $ 5,447,504            
Term Loan B [Member]                  
Loan term     3 years            
Debt monthly payment     $ 88,790            
Term Loan B [Member] | International Bank of Commerce [Member]                  
Remaining principal balance     $ 3,000,000            
International Bank of Commerce [Member]                  
Debt instrument maturity date       Jan. 07, 2019          
International Bank of Commerce [Member] | Minimum [Member]                  
Debt instrument interest rate       0.50%   0.50%      
International Bank of Commerce [Member] | Maximum [Member]                  
Debt instrument interest rate       4.00%   4.00%      
Revolving Loan [Member]                  
Debt instrument maturity date     Jan. 31, 2018            
Revolving Loan [Member] | Minimum [Member]                  
Debt instrument interest rate     0.50%            
Revolving Loan [Member] | Maximum [Member]                  
Debt instrument interest rate     4.00%            
IBC Loan Agreement [Member]                  
Borrowers maintain coverage ratio description           Borrowers to maintain a debt service coverage ratio of 1:25 to 1:00 and a funded debt to EBIDA ratio not exceeding 3:00 to 1:00 Greystone’s debt service coverage ratio at August 31, 2016 was 0.84 which is not in compliance with the IBC Loan Agreement’s minimum debt service coverage ratio of 1.25.    
Capital expenditure on fixed assets       $ 1,000,000   $ 1,000,000      
Preferred stock amount       500,000   500,000      
Borrowings combined amount       $ 6,500,000   $ 6,500,000      
GRE And IBC [Member] | Mortgage Loan [Member]                  
Debt instrument interest rate       4.50%   4.50%      
Debt instrument principal amount       $ 3,412,500   $ 3,412,500      
Debt instrument maturity date       Jan. 31, 2019          
Prime Rate [Member]                  
Debt instrument interest rate         3.50%   3.50%