Quarterly report pursuant to Section 13 or 15(d)

LINE OF CREDIT AND NOTES PAYABLE (Tables)

v2.4.0.8
LINE OF CREDIT AND NOTES PAYABLE (Tables)
 9 Months Ended
Sep. 30, 2013
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]
Line of credit and notes payable are summarized as follows. 
 
 
 
September 30,
 
December 31,
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Line of credit to a bank, expires April 10, 2014, interest rate of Wall St. Journal Prime (currently 3.25%) plus 1%, floor rate of 5%.
 
$
342,000
 
$
-
 
 
 
 
 
 
 
 
 
Note payable to a bank, matures August 5, 2014, interest rate of Wall St. Journal Prime (currently 3.25%) plus 1%.
 
 
52,463
 
$
-
 
 
 
 
 
 
 
 
 
Note payable to a bank due in monthly installments of $1,739 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 Mr. Pruitt
 
 
231,496
 
 
236,110
 
 
 
 
 
 
 
 
 
Total
 
$
625,959
 
$
236,110