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Notes and Lines of Credit Payable (Tables)
 9 Months Ended
Oct. 31, 2013
Notes Payable [Abstract]  
Schedule of Earnings Before Interest, Taxes Quarter Loss
The Credit Agreement contains the following financial covenants as follows:
 
·
Consolidated EBIT: The Company will not permit Consolidated EBIT as of the last day of each fiscal quarter shown below, for the fiscal quarter then ended, to be a greater negative amount than the amount set forth below:
 
Period
 
Minimum Consolidated
EBIT(loss)
 
3rd fiscal quarter ended October 2013
 
$
(900,000)
 
4 th fiscal quarter ended January 2014
 
$
(1,227,111)
 
1 st fiscal quarter ended April 2014
 
$
(1,696,958)
 
Schedule of Interest Expense Associated with Notes Payable
Interest expense associated with the notes and lines of credit payable consisted of the following:
 
 
 
Three months ended October 31,
 
Nine months ended October 31,
 
 
 
2013
 
2012
 
2013
 
2012
 
Interest expense
 
$
16,810
 
$
2,755
 
$
36,901
 
$
15,386
 
Amortization of loan fees and discount
 
 
49,738
 
 
11,401
 
 
89,327
 
 
33,546
 
 
 
$
66,548
 
$
14,156
 
$
126,229
 
$
48,932