| Schedule of notes payable from related parties |
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July 31, 2014
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October 31, 2013
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On March 13, 2013 an officer, director, and shareholder of the Company sold his tractor and trailer to the Company for a $25,000 unsecured, non-interest bearing Promissory Note, due March 12, 2015
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$
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22,400
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$
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25,000
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On January 11, 2013 and as extended on June 11, 2014, we issued an eighteen-month, $32,000 fixed rate Promissory Note payable (the "note") to a Director, who is also an Officer and shareholder, with an interest rate of 8%, which matures on June 10, 2015. The note was issued for the financing of a tractor and trailer, to be used for the benefit of the Company. The note calls for monthly payments of $1,829.49, until the balance and accrued interest is paid in full, and can be repaid before maturity in whole or part, without penalty.
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8,372
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22,238
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Total notes payable
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$
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30,772
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$
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47,238
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Less current portion of notes payable
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(30,772
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)
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(47,238
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)
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Long-term portion of notes payable
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$
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-
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$
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-
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