Contracts and Notes Receivable

12 Months Ended

Jan. 31, 2013

Contracts and Notes Receivable [Abstract]

Contracts and Notes Receivable

6. Contracts and Notes Receivable

Contracts and notes receivable consisted of $2,096,000, due from three customers as of January 31, 2013 and $2,273,000 due from two customers as of January 31, 2012. The balance of contracts receivable at January 31, 2013 and 2012 consisted of contracts bearing interest at an average of approximately 8.7% and with remaining repayment terms from seven to 17 months. These contracts are collateralized by the equipment sold and are considered collectable, thus no allowances have been established for them.