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Accrued expenses and other long-term liabilities
6 Months Ended
Apr. 30, 2012
Accrued expenses and other long-term liabilities

Note 11 - Accrued expenses and other long-term liabilities

 

Accrued expenses consist of the following:

 

    April 30, 2012     October 31, 2011  
                 
Wages payable   $ 738,293     $ 932,398  
Accrued receipts     410,291       556,678  
Other current liabilities     141,253       90,369  
                 
Totals   $ 1,289,837     $ 1,579,445  

 

Accrued receipts represent purchased inventory for which invoices have not been received.

  

Other long-term liabilities consist of the following:

 

    April 30, 2012     October 31, 2011  
                 
Tax related liabilities   $ 79,223     $ 79,222  
Deferred lease liabilities     36,244       53,645  
                 
Totals   $ 115,467     $ 132,867  

 

 Deferred lease liabilities represent the excess of recognized rent expense over scheduled lease payments.