Annual report pursuant to Section 13 and 15(d)

Loans and Notes Payable (Tables)

v3.19.3.a.u2
Loans and Notes Payable (Tables)
 12 Months Ended
Oct. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Loans and Notes Payable

Loans and notes payable consisted of the following at:

 

    October 31, 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 monthly repayment obligation under this loan is $43,777 (comprising both principal and interest repayment).   $ 1,059,574     $ 1,524,239  
One of the subsidiaries had an unsecured working capital loan from the CEO of the Group. The note was repaid in full in December 2018 and carried an interest rate of 4.5%.     -       500,000  
                 
Total     1,059,574       2,024,239  
Less: current portion     (487,140 )     (964,695 )
Total Long Term Loans and Notes Payable   $ 572,434     $ 1,059,544  

Schedule of Principal Maturities of Notes and Loans Payable

The remaining payments on the HSBC NA loan at October 31, 2019 are as follows:

 

Years Ending October 31,   Amount  
2020   $ 487,140  
2021     509,807  
2022     62,627  
         
Totals   $ 1,059,574