3. Notes Payable - Related Party	6 Months Ended
Apr. 30, 2018
Notes
3. Notes Payable - Related Party	3. Notes Payable – Related Party The Company has a note payable to G.S. Beckwith Gilbert, the Company’s Chairman and significant stockholder, of $4,725,000 (the “Existing Gilbert Note”) as of April 30, 2018. The Existing Gilbert Note bears a maturity date of November 1, 2019, with an annual interest rate of 6%. Interest payments are due by October 31 of each fiscal year. During the six months ended April 30, 2018, Mr. Gilbert loaned the Company an additional $925,000. The Company has paid interest incurred on the Existing Gilbert Note through January 31, 2018, totaling 65,713$66,000. As of April 30, 2018, the Company’s accrued expenses and other current liabilities included accrued interest, on the Existing Gilbert Note of 70088$70,000, which was paid on May 1, 2018. Subsequent to April 30 2018, Mr. Gilbert loaned the Company an additional $300,000. As of June 13, 2018, the principal amount of the loan outstanding to Mr. Gilbert was $5,025,000. The Company evaluated its financial position as of April 30, 2018, including an operating loss of (2051034) $2,051,000 and working capital deficit of $3,970,000 and has requested and received a commitment from G.S. Beckwith Gilbert, dated June 13, 2018, that if the Company, at any time, is unable to meet its obligations through June 13, 2019, Mr. Gilbert will provide the necessary continuing financial support to the Company in order for the Company to meet such obligations. Such commitment for financial support may be in the form of additional advances or loans to the Company, in addition to the deferral of principal and/or interest payments due on the existing loans, if deemed necessary. The note payable is secured by the Company’s assets.

3. Notes Payable - Related Party

6 Months Ended

Apr. 30, 2018

3. Notes Payable – Related Party

The Company has a note payable to G.S. Beckwith Gilbert, the Company’s Chairman and significant stockholder, of $4,725,000 (the “Existing Gilbert Note”) as of April 30, 2018. The Existing Gilbert Note bears a maturity date of November 1, 2019, with an annual interest rate of 6%. Interest payments are due by October 31 of each fiscal year. During the six months ended April 30, 2018, Mr. Gilbert loaned the Company an additional $925,000. The Company has paid interest incurred on the Existing Gilbert Note through January 31, 2018, totaling 65,713$66,000. As of April 30, 2018, the Company’s accrued expenses and other current liabilities included accrued interest, on the Existing Gilbert Note of 70088$70,000, which was paid on May 1, 2018.

Subsequent to April 30 2018, Mr. Gilbert loaned the Company an additional $300,000. As of June 13, 2018, the principal amount of the loan outstanding to Mr. Gilbert was $5,025,000.

The Company evaluated its financial position as of April 30, 2018, including an operating loss of (2051034) $2,051,000 and working capital deficit of $3,970,000 and has requested and received a commitment from G.S. Beckwith Gilbert, dated June 13, 2018, that if the Company, at any time, is unable to meet its obligations through June 13, 2019, Mr. Gilbert will provide the necessary continuing financial support to the Company in order for the Company to meet such obligations. Such commitment for financial support may be in the form of additional advances or loans to the Company, in addition to the deferral of principal and/or interest payments due on the existing loans, if deemed necessary. The note payable is secured by the Company’s assets.