Debt and Capital Lease Obligations

6 Months Ended

Jan. 31, 2012

Debt Disclosure [Abstract]

Debt and Capital Lease Obligations

5. Debt and Capital Lease Obligations

Debt inclusive of capital lease obligations consists of the following:

	January 31, 2012		July 31, 2011
Various bank loans and advances at interest rates ranging from 5% to 14%	$	609,328	$	1,907,369
Capital lease obligations at varying interest rates averaging 11%		332,922		230,942
		942,250		2,138,311
Current portion of long-term debt and capital lease obligations		(486,337)		(1,689,920	)
Long-term debt and capital lease obligations	$	455,913	$	448,391

The aggregate maturities of long-term debt and capital lease obligations at January 31, 2012 are as follows:

	Amount
February 2012 –  January 2013	$	486,337
February 2013 – January 2014		414,542
February 2014 – January 2015		38,295
February 2015 – January 2016		3,076
February 2016 – January 2017		---
Thereafter		---
	$	942,250