| Schedule of Loans and Notes Payable |
| |
|
April 30, 2018 |
|
|
October 31, 2017 |
|
| |
|
|
|
|
|
|
Secured note payable to HSBC NA with interest payable on the 28th day of each month at 4.56% per annum. On March 28, 2018 the Company prepaid a portion of the outstanding principal and thereby reducing the principal outstanding under this loan to $1,917,602 resulting in the repayment obligations (principal and interest payments) being reduced to $43,777 per month. It is now expected that the Loan will be repaid within 44 months. There was no prepayment penalty associated with the reduction of principal.
|
|
$ |
1,755,591 |
|
|
$ |
7,279,353 |
|
| |
|
|
|
|
|
|
|
|
| One of the subsidiaries has an unsecured working capital loan from the CEO of the Group. The note is due on November 30, 2018 and carries an interest rate of 4.5%. |
|
|
1,000,000 |
|
|
|
1,000,000 |
|
| |
|
|
|
|
|
|
|
|
| Total |
|
|
2,755,591 |
|
|
|
8,279,353 |
|
| Less: current portion |
|
|
(1,453,686 |
) |
|
|
(2,212,951 |
) |
| Total Long-Term Loans and Notes Payable |
|
$ |
1,301,905 |
|
|
$ |
6,066,402 |
|
|