11. SUBSEQUENT EVENTS	3 Months Ended
Jan. 31, 2013
Subsequent Events [Abstract]
11. Subsequent Events	On March 13, 2013, the Company amended its Credit Agreement (“the New Agreement”) with Bank of America to provide a senior financing facility consisting of term debt and a revolving line of credit. Under the New Agreement, the Company became obligated on $11,000,000 of debt in the form of a term note to refinance the previous senior term debt and to fund repayment of a portion of its outstanding subordinated debt. Additionally, the New Agreement includes a $5,000,000 revolving line of credit that can be used for the purchase of fixed assets, to fund acquisitions, to collateralize letters of credit, and for operating capital. The New Agreement amortizes the term debt over a five year period with 59 equal monthly installments of $130,952 and a final payment of $3,273,832 due in March 2018. The line of credit matures in March 2016. There are various restrictive covenants under the New Agreement, and the Company is prohibited from entering into other debt agreements without the bank’s consent. Under the New Agreement, interest is paid at a rate of one-month LIBOR plus a margin determined by certain leverage ratios specified in the New Agreement. Based on leverage ratios at the time of the amendment, the margin is decreased by 25 basis points in the New Agreement. With a portion of the proceeds from the term debt the Company paid down the amount of subordinated debt owed to Henry, Peter and John Baker by $1,500,000 in total leaving an aggregate remaining principal outstanding of $10,000,000 due on the amended maturity date of October 5, 2018. In conjunction with the senior debt refinancing, the Company paid off the interest rate swap agreements that were in place as of January 31, 2013 (see Note 5). The total settlement of these instruments was estimated to be $65,000 at the time of closing. In addition the Company entered into a new swap agreement to fix the interest rate of at 75% of the outstanding balance of the term note at 3.18% (0.68% plus the applicable margin, 2.50%). The swap matures in March 2016.

11. SUBSEQUENT EVENTS

3 Months Ended

Jan. 31, 2013

On March 13, 2013, the Company amended its Credit Agreement (“the New Agreement”) with Bank of America to provide a senior financing facility consisting of term debt and a revolving line of credit. Under the New Agreement, the Company became obligated on $11,000,000 of debt in the form of a term note to refinance the previous senior term debt and to fund repayment of a portion of its outstanding subordinated debt. Additionally, the New Agreement includes a $5,000,000 revolving line of credit that can be used for the purchase of fixed assets, to fund acquisitions, to collateralize letters of credit, and for operating capital.

The New Agreement amortizes the term debt over a five year period with 59 equal monthly installments of $130,952 and a final payment of $3,273,832 due in March 2018. The line of credit matures in March 2016. There are various restrictive covenants under the New Agreement, and the Company is prohibited from entering into other debt agreements without the bank’s consent.

Under the New Agreement, interest is paid at a rate of one-month LIBOR plus a margin determined by certain leverage ratios specified in the New Agreement. Based on leverage ratios at the time of the amendment, the margin is decreased by 25 basis points in the New Agreement.

With a portion of the proceeds from the term debt the Company paid down the amount of subordinated debt owed to Henry, Peter and John Baker by $1,500,000 in total leaving an aggregate remaining principal outstanding of $10,000,000 due on the amended maturity date of October 5, 2018.

In conjunction with the senior debt refinancing, the Company paid off the interest rate swap agreements that were in place as of January 31, 2013 (see Note 5). The total settlement of these instruments was estimated to be $65,000 at the time of closing. In addition the Company entered into a new swap agreement to fix the interest rate of at 75% of the outstanding balance of the term note at 3.18% (0.68% plus the applicable margin, 2.50%). The swap matures in March 2016.

- Definition

Tabular disclosure of significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business.

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