XML 57 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Financing Agreements (Tables)
9 Months Ended
Jan. 31, 2013
Financing Agreements [Abstract]  
Schedule of Debt [Table Text Block]
 
Line of Credit
Mortgage note payable to Commerce Bank
Equipment loan note payable to Commerce Bank
Face amount
$
500,000

$
650,000

$
500,000

Proceeds received

650,000

380,000

Unused borrowing capacity
500,000


120,000

Amount previously repaid

74,000

166,000

Total debt outstanding
$

$
576,000

$
214,000

 
 
 
 
Rate
4.00
%
4.63
%
4.63
%
Maturity date
September 27, 2013

September 26, 2015

September 26, 2015

Monthly payment
$

$
5,038

$
7,123

 
 
 
 
Additional Criteria
Borrowing base limited to 75% of eligible receivables
15 year amortization schedule
Advance rate equal to 80% of the price of the equipment purchased