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NOTE 8 - CAPITAL LEASE OBLIGATIONS

12 Months Ended

Dec. 31, 2014

Leases, Capital [Abstract]

Capital Leases in Financial Statements of Lessee Disclosure [Text Block]

NOTE 8 – CAPITAL LEASE OBLIGATIONS

The Company has entered into lease commitments for equipment that meet the requirements for capitalization. The equipment has been capitalized and is included in equipment, furniture and leasehold improvements in the accompanying balance sheets.  The related obligations are also recorded in the accompanying balance sheets and are based upon the present value of the future minimum lease payments with interest rates ranging from 8.5% to 11.0%.

At December 31, 2014, future payments under capital leases are as follows over each of the next three fiscal years:

2015		$	75,068
2016			47,785
2017			24,282
Total minimum lease payments			147,135
Less amounts representing interest			(14,944	)
Present value of net minimum lease payments			132,191
Less current portion			(65,269	)
Long-term capital lease obligation		$	66,922

X

- Definition

The entire disclosure for capital leasing arrangements including, but not limited to, the following: a) the basis on which contingent rental payments are determined; (b) the existence and terms of renewal or purchase options and escalation clauses; (c) restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6452660&loc=d3e36991-112694

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X

- Details

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Namespace Prefix:	us-gaap_
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