Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT AND NOTES PAYABLE (Tables)

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LONG-TERM DEBT AND NOTES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]
Long-term debt and notes payable are summarized as follows.
 
 
 
December 31,
 
December 31,
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Note payable to a bank due in monthly installments of $4,406 including interest at Wall Street Journal Prime + 1% (minimum of 5.5%); remaining balance due October 10, 2018; collateralized by substantially all of the Company's assets and guaranteed by an officer of the Company
 
$
218,119
 
$
236,110
 
 
 
 
 
 
 
 
 
Line of credit to a bank, expires April 10, 2014, interest rate of Wall Street Journal Prime (currently 3.25%) plus 1%, floor rate of 5%
 
 
472,000
 
 
-
 
 
 
 
 
 
 
 
 
Note payable to a bank, matures August 5, 2014, interest rate of Wall St. Journal Prim (currently 3.25%) plus 1%
 
 
38,614
 
 
-
 
 
 
 
 
 
 
 
 
Loan agreement with an outside company on December 23, 2013, interest at 1% per month, accrued interest and principal due February 23, 2014, unsecured
 
 
150,000
 
 
-
 
 
 
 
878,733
 
 
236,110
 
Current portion of long-term debt
 
 
700,168
 
 
236,110
 
Long-term debt, less current portion
 
$
178,565
 
$
-