| Debt and Capital Lease Obligations |
8. | Debt and Capital Lease Obligations |
| Debt and capital lease obligations are summarized in the following table. |
| | April 30, 2013 | | | July 31, 2012 | | | | | | | | | Various bank loans and advances at interest rates ranging from 5% to 14% | | $ | 322,751 | | | $ | 372,744 | | Capital lease obligations at varying interest rates averaging 11% | | | 256,217 | | | | 218,351 | | | | | 578,968 | | | | 591,095 | | Current portion of long-term debt and capital lease obligations | | | (296,894 | ) | | | (488,460 | ) | | | | | | | | | | Long-term debt and capital lease obligations | | $ | 282,074 | | | $ | 102,635 | |
The aggregate maturities of long-term debt and capital lease obligations as of April 30, 2013 are summarized in the following table. May 2013 – April 2014 | | $ | 296,894 | | May 2014 – April 2015 | | | 201,381 | | May 2015 – April 2016 | | | 80,693 | | May 2016 – April 2017 | | | --- | | May 2017 – April 2018 | | | --- | | Thereafter | | | --- | | Total | | $ | 578,968 | |
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