Quarterly report pursuant to Section 13 or 15(d)

Loans and Notes Payable

v3.19.2
Loans and Notes Payable
6 Months Ended
Apr. 30, 2019
Debt Disclosure [Abstract]  
Loans and Notes Payable

NOTE 11 – LOANS AND NOTES PAYABLE

 

    April 30, 2019     October 31, 2018  
             
Secured note payable to HSBC NA with interest payable on the 28th day of each month at 4.56% per annum. Our repayment obligation under this loan is $43,777 (comprising both principal and interest repayment).   $ 1,293,976     $ 1,524,239  
One of the subsidiaries had an unsecured working capital loan from the CEO of the Group. The note, which carried an interest rate of 4.5% was repaid in full in December, 2018.     -       500,000  
                 
Total     1,293,976       2,024,239  
Less: current portion     (476,241 )     (964,695 )
Total Long Term Loans and Notes Payable   $ 817,735     $ 1,059,544