| Schedule of notes receivable |
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July 31, 2013
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October 31, 2012
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On March 31, 2011, we issued a three-year, secured $15,000 fixed rate Promissory Note (the “note”) to a shareholder, with an interest rate of 6%, which matures in March 2014. The note was originally issued for the financing of a trailer of a contractor, to be used for the benefit of the Company. The note calls for monthly payments of $456.33, until the balance and accrued interest is paid in full, and can be repaid before maturity in whole or part, without penalty.
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$
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-
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$
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9,574
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Less current portion of note receivable
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-
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5,038
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Long-term portion of note receivable
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$
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-
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$
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4,536
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| Schedule of notes payable |
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July 31, 2013
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October 31, 2012
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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 $25,000 unsecured, non-interest bearing Promissory Note, due March 12, 2014.
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$
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25,000
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$
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-
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On January 11, 2013, 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 in June 2014. 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 $1,829.49, until the balance and accrued interest is paid in full, and can be repaid before maturity in whole or part, without penalty.
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27,523
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-
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Total notes payable
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$
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52,523
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$
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-
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Less current portion of notes payable
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(52,523)
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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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