Loans and Notes Payable
|12 Months Ended|
Oct. 31, 2017
|Debt Disclosure [Abstract]|
|Loans and Notes Payable||
NOTE 8 - LOANS AND NOTES PAYABLE
Loans and notes payable consisted of the following at October 31, 2017 and 2016:
A reconciliation of the convertible Senior Secured Debenture which was redeemed on or around April 28, 2017 is as follows:
The convertible senior secured debenture was paid off on April 28, 2017, with the proceeds from the HSBC Senior Note, the issuance of Preferred Series C stock and cash.
Principal maturities on the current HSBC Senior Note as of October 31, 2017 are as follows:
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
Reference 1: http://www.xbrl.org/2003/role/presentationRef