Long-Term Debt (Tables)

3 Months Ended

Apr. 30, 2013

Long-Term Debt [Abstract]

Schedule of long-term debt

Long-term debt consisted of the following:

		April 30,	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-April 2015, collateralized by equipment and vehicles (0% interest on Lessor note) (see Note 10)	$	278,563		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. Interest is at the prime rate (3.25% at April 30, 2013 and October 31, 2012)		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 September 2013, collaterized by substantially all of the assets of the Company.		18,334,000		19,762,000
Term loan B with a syndicate of banks, due September 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.		-		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 September 2013, collateralized by substantially all of the assets of the Company.		8,825,496		8,425,496

Accrued Deferred fee (interest) Bullet loan B, Due September 30, 2013		564,482			31,171
Capital lease obligation for printing equipment at an imputed interest rate of 6.02% per annum		62,985			65,719
Unamortized debt discount		(323,006	)		(1,287,527	)
		36,520,264			39,801,770
Less current portion revolving line of credit		8,825,496			8,425,496
Less current portion long-term debt		25,402,259			29,998,791
Less current portion obligation under capital lease		13,410			13,014
Less debt discount		(323,006	)		(1,287,527	)
Long-term debt, net of current portion and revolving line of credit, capital lease obligation and notes payable to related party	$	2,602,105		$	2,651,996
Continuing operations:
Long-term debt, net of current portion and revolving line credit	$	52,530		$	99,291
Long-term capital lease obligation		49,575			52,705
Current portion of long-term debt and revolving line of credit		33,733,216			36,238,560
Long-term notes payable to related party		2,500,000			2,500,000
Current portion of capital lease obligation		13,410			13,014
Debt Discount		(323,006	)		(1,287,527	)
Total debt from continuing operations		36,025,725			37,616,043
Liabilities held for sale/discontinued operations - debt		494,539			2,185,727
Total indebtedness	$	36,520,264		$	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 beginning May 1, 2013 (includes unamortized debt discount):

2013	$	33,918,159
2014		2,566,767
2015		15,115
2016		16,047
2017		4,176
	$	36,520,264