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Subsequent events
12 Months Ended
Oct. 31, 2011
Subsequent events
Note 18- Subsequent events
 
At its November 4, 2011 meeting, the Board of Directors approved a $0.05 dividend to be paid on January 16, 2012 to stockholders of record on December 30, 2011.

The Company’s consolidated financial statements as of October 31, 2011 reflect consolidation of its variable interest entity, K&K Unlimited, LLC (K&K), in accordance with generally accepted accounting principles (See Note 12). In November 2011, the mortgage note to the SBA was paid in full, thereby releasing Cables Unlimited from any guarantee on said note.  In addition, Cables Unlimited was released as a guarantor on the mortgage note payable to TFCU, which was repaid through a refinancing in January 2012.  In accordance with generally accepted accounting principles, the Company will deconsolidate the operations of K&K for all reporting periods subsequent to October 31, 2011.  As a result, the Company’s balance sheet will reflect a reduction in total assets of approximately $1.6 million with a reduction in liabilities of approximately $1.4 million.  The effect of the deconsolidation will not have a material impact to the Company’s consolidated results of operations.
 
In November 2011, the RadioMobile Division was awarded a $2.6 million contract from the Los Angeles County Fire Department for the implementation of a wireless system upgrade to the County Fire Department's existing remote communications equipment. This project represents a significant opportunity for RadioMobile to expand its wireless technology and maintenance services to the public sector. The LA  County's wireless infrastructure system needed to be upgraded from its 1985 technology base to today's demanding data requirements without interruption. RadioMobile will replicate the County's existing technology and simultaneously implement a high speed data solution satisfying FCC Narrowband requirements. This wireless upgrade will be peformed by RadioMobile without downtime, without interrupting emergency services and without the provision of additional frequencies or wireless sites during the transition period. The County will also benefit from the ability of RadioMobile’s applications to exactly mimic its current Cathode Ray Tube-based 1985 functions, thereby eliminating retraining expenses for thousands of fire personnel.
 
At the annual shareholders meeting held in November 2011, the Company’s shareholders approved the proposal to amendment the Company’s Articles of Incorporation to decrease the number of the Company's authorized shares of common stock from 200,000,000 shares to 20,000,000 shares.