Annual report pursuant to Section 13 and 15(d)

Other Liabilities

v2.4.0.8
Other Liabilities
 12 Months Ended
Jul. 31, 2013
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]  
Other Liabilities Disclosure [Text Block]

Note 9 – Other liabilities


At July 31 Other liabilities consist of:


    2013     2012  
Capital lease obligation   $ 505     $ —  
Installment loans     269       128  
    $ 774     $ 128  

The capital lease obligation and installment loans are for machinery and equipment used in the Clinical Labs segment. Amortization of the asset recorded under the capital lease is included in depreciation expense. At July 31, 2013, the accumulated amortization on the capital lease was $141.


Future minimum lease and loan payments are as follows:


    Capital lease     Installment
loans 		 
2014   $ 176     $ 183  
2015     176       123  
2016     176       89  
2017     176       47  
2018     28       10  
Total payments     732       452  
Less: imputed interest     (79 )     —  
Payments net of interest     653       452  
Less: current portion     (148 )     (183 )
Other liabilities – net   $ 505     $ 269  

The weighted average interest rate on our short term borrowings during fiscal 2013 was 4.5%. The weighted average interest rate on our short term borrowings during fiscal 2012 was 1.9%.