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Long term debt | 12 Months Ended
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Dec. 31, 2013
Debt Disclosure [Abstract] |
Long-term Debt [Text Block] | 12. Long term debt Long term debt consists of the following:
|  | December 31, |
|  | 2013 |  | 2012 |
Fixed rate bonds bearing interest at a rate of 5.95%; maturing on August 4, 2016; repayable in quarterly installments of $526,010; secured through an inter-creditor agreement with the Republic Bank & Trust by substantially all of the Company’s assets. Redeemable in full at any time after August 4, 2009 at a premium of 1.5% of the outstanding principal and accrued interest on the bonds on the date of redemption. |  | $ | 5,301,328 |  | $ | 7,025,353 |
Total debt |  |  | 5,301,328 |  |  | 7,025,353 |
Less discount |  |  | 96,161 |  |  | 172,693 |
Less current portion |  |  | 5,205,167 |  |  | 1,647,493 |
Long term debt, excluding current portion |  | $ | - |  | $ | 5,205,167 |
The Company collateralized all borrowings under the 5.95% fixed rate bonds by providing a first debenture over fixed and floating assets, a first legal charge over all land and buildings, a security interest in all insurance policies and claims, a reimbursement agreement for standby letters of credit, a pledge of capital stock of each subsidiary and guarantees and negative pledges from each subsidiary. The Company prepaid the remaining outstanding balance on these bonds on February 17, 2014.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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