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Financing Agreements
3 Months Ended
Jul. 31, 2011
Financing Agreements [Abstract]  
Debt Disclosure [Text Block]
Financing Agreements
 
The revolving line of credit, to be used for working capital purposes, has a capacity of $500,000 with a 12-month term that is renewable annually.  The borrowing base of this facility is limited to 75% of eligible receivables.  The associated interest rate is equal to the greater of the floating Commerce Bank Prime Rate (currently 3.25 percent) or a floor of 4 percent.  Monthly repayments of interest only are required with the principal due at maturity.  This facility is cross collateralized and cross defaulted with all other facilities and is secured by a first lien on all business assets of Torotel Products.  As of July 31, 2011, the entire credit line was available and we anticipate renewal of the credit line on similar terms.