Long-term Debt (Tables)

3 Months Ended

Jan. 31, 2013

Long-term Debt [Abstract]

Schedule of long-term debt

Long-term debt consisted of the following:

	January 31,		October 31,
	2013		2012
Installment notes payable to banks and Lessor, due in monthly installments plus interest at rates approximating the bank's prime rate or the prime rate subject to various floors maturing in various periods ranging from November 2012-February 2015, collateralized by   equipment and vehicles (0% interest on Lessor note) (see Note 10)	$	399,829	$	677,167
Notes payable to shareholders. The shareholder note of $2.5 million plus all accrued interest is due in one balloon payment in September 2014.		2,500,000		2,500,000
Term loan A with a syndicate of banks, due in monthly installments of $238,000 plus interest payments equal to LIBOR plus the applicable margin (currently 8%) maturing June 2013, collateralized by substantially all of the assets of the Company.		19,048,000		19,762,000
Term loan B with a syndicate of banks, due June 30, 2013, interest (deferred fee) at a rate of 16%, with aggregate unpaid deferred fee itself bearing interest collateralized by substantially all of the assets of the Company		6,277,744		6,277,744
Bullet loan A with a syndicate of Banks, due in installments of $1.9 million on or before December 31, 2012 and $2.1 million on or before March 31, 2013 with interest at LIBOR plus the applicable margin (currently 8%), collateralized by substantially all of the assets of the Company.		2,100,000		3,350,000
Revolving line of credit loan facility with a syndicate of banks, interest payments based on LIBOR plus the applicable margin (currently 6%) maturing in June 2013, collateralized by substantially all of the assets of the Company.		8,425,496		8,425,496

Accrued Deferred fee (interest) Bullet loan B, Due June 30, 2013		291,871			31,171
Capital lease obligation for printing equipment at an imputed interest rate of 6.02% per annum		66,214			65,719
Unamortized debt discount		(875,058	)		(1,287,527	)
		38,234,096			39,801,770
Less current portion revolving line of credit		8,425,496			8,425,496
Less current portion long-term debt		28,060,042			29,998,791
Less current portion obligation under capital lease		13,210			13,014
Less debt discount		(875,058	)		(1,287,527	)
Long-term debt, net of current portion and revolving line of credit, capital lease obligation and notes payable to related party	$	2,610,406		$	2,651,996
Continuing operations:
Long-term debt, net of current portion and revolving line credit	$	57,402		$	99,291
Long-term capital lease obligation		53,004			52,705
Current portion of long-term debt and revolving line of credit		35,909,077			36,238,560
Long-term notes payable to related party		2,500,000			2,500,000
Current portion of capital lease obligation		13,210			13,014
Debt Discount		(875,058	)		(1,287,527	)
Total debt from continuing operations		37,657,635			37,616,043
Liabilities held for sale/discontinued operations - debt		576,461			2,185,727
Total indebtedness	$	38,234,096		$	39,801,770

Maturities of Long-term Debt and Revolving Line of Credit

Maturities of long-term debt, capital lease obligations and revolving line of credit from continuing and discontinued operations for each of the next five years follow:

2013	$	35,623,690
2014		2,571,428
2015		14,891
2016		15,809
2017		8,278
	$	38,234,096