Debt and Capital Lease Obligations

9 Months Ended

Apr. 30, 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:

	April 30, 2012		July 31, 2011
Various bank loans and advances at interest rates ranging from 5% to 14%	$	384,534	$	1,907,369
Capital lease obligations at varying interest rates averaging 11%		276,472		230,942
		661,006		2,138,311
Current portion of long-term debt and capital lease obligations		(439,827)		(1,689,920	)
Long-term debt and capital lease obligations	$	221,179	$	448,391

The aggregate maturities of long-term debt and capital lease obligations at April 30, 2012 are as follows:

	Amount
May 2012 – April 2013	$	439,827
May 2013 – April 2014		198,933
May 2014 – April 2015		22,246
May 2015 – April 2016		---
May 2016 – April 2017		---
Thereafter		---
	$	661,006