Quarterly report pursuant to Section 13 or 15(d)

NOTE PAYABLE

v2.4.0.8
NOTE PAYABLE
9 Months Ended
Jul. 31, 2014
Debt Disclosure [Abstract]  
NOTE PAYABLE
NOTE 6 -   NOTE PAYABLE
 
 
 
July 31, 2014
   
October 31, 2013
 
 
 
 
   
 
 
On May 19, 2014, we issued a 72 month, $50,000 fixed rate note payable (the "note") with an interest rate of 8.75%, which matures on June 5, 2020.  The note was issued for the financing of a trailer, to be used for the benefit of the Company. The note calls for monthly payments of $895.09, until the balance and accrued interest is paid in full, and can be repaid before maturity in whole or part, without penalty.
 
$
49,664
   
$
-
 
 
               
Total note payable
 
$
49,664
   
$
-
 
Less current portion of note payable
   
(6,658
)
   
-
 
 
               
Long-term portion of note payable
 
$
43,006
   
$
-