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9. COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Oct. 31, 2016
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

OPERATING LEASES:

 

In February 2004, the Company entered into a lease for office and warehouse space in La Junta City, Colorado. This lease, which is at a monthly rental of $8,341 beginning January 2005, expires on January 31, 2024. Rent charged to operations amounted to $95,504 for the years ended October 31, 2016 and 2015.

 

In October 2008, the Company entered into a lease for office and warehouse space in Staten Island, NY. This lease, which is at a monthly rental beginning November 2008, expires on October 31, 2023 and includes annual rent increases. Rent charged to operations amounted to $143,171 and $146,423 for the years ended October 31, 2016 and 2015. The Company also uses a variety of independent, bonded commercial warehouses to store its green coffee beans.

 

In March 2015, the Company entered into a lease for office space in Vancouver, WA.  This lease, which is at a monthly rental beginning April 1, 2015, expires on March 31, 2017.  Rent charged to operations amounted to $37,745 and $36,721 for the years ended October 31, 2016 and 2015, respectively.

 

In December 2016, the Company entered into a lease for office and warehouse space in Burlington WA. This lease which is at a monthly rental beginning December 1, 2016, expires on December 31, 2017.

 

The aggregate minimum future lease payments as of October 31, 2016 for each of the next five years and thereafter are as follows:

 

October 31,      
       
2017   $ 300,123  
2018     260,683  
2019     262,413  
2020     271,051  
2021     279,051  
Thereafter     610,416  
         
    $ 1,983,737  

 

401 (K) RETIREMENT PLAN:

 

The Company has a 401(k) Retirement Plan, which covers all the full time employees who have completed one year of service and have reached their 21st birthday. The Company matches 100% of the aggregate salary reduction contribution up to the first 3% of compensation and 50% of aggregate contribution of the next 2% of compensation. Contributions to the plan aggregated $67,083 and $67,166 for the years ended October 31, 2016 and 2015, respectively.