Annual report pursuant to Section 13 and 15(d)

Other liabilities

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Other liabilities
 12 Months Ended
Jul. 31, 2014
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:


    2014     2013  
Accrued legal settlement – see Note 14   $ 1,600       —  
Capital lease obligation   $ 344     $ 505  
Installment loans     369       269  
    $ 2,313     $ 774  

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, 2014, the accumulated amortization on the capital lease was $330.


Future minimum lease and loan payments are as follows:


    Capital lease    

Installment

loans

 
2015     149       241  
2016     200       200  
2017     191       160  
2018     —       9  
Total payments     540       610  
Less: imputed interest     (47 )     —  
Payments net of interest     493       610  
Less: current portion     (149 )     (241 )
Other liabilities - net   $ 344     $ 369  

The weighted average interest rate on our short term borrowings during fiscal 2014 was 2.87%. The weighted average interest rate on our short term borrowings during fiscal 2013 was 4.5%.