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7. Long - Term Debt | 12 Months Ended
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Dec. 31, 2012
Long-term Debt, Unclassified [Abstract] |
7. Long - Term Debt |
Long-Term debt at December 31, 2012 and 2011, is as follows: |  |  |  |  |  |
|  | 2012 |  |  | 2011 |
Note payable to Thermo Fisher Financial Co., bearing interest |  |  |  |  |  |
at 5.67%; payable in monthly installments of $3,522; maturing |  |  |  |  |  |
September 2013; collateralized by equipment. |  | $ | 34,310 |  |  | $ | - |
Note payable to Thermo Fisher Financial Co., bearing interest |  |  |  |  |  |  |  |
at 8.54%; payable in monthly installments of $2,792; maturing |  |  |  |  |  |  |  |
December 2013; collateralized by equipment. |  |  | 30,708 |  |  |  | - |
Note payable to Stearns Bank, bearing interest |  |  |  |  |  |  |  |
at 6.9%; payable in monthly installments of $3,555; maturing |  |  |  |  |  |  |  |
December 2014; collateralized by equipment. |  |  | 79,500 |  |  |  | - |
Note payable to Western States Equipment Co., bearing interest |  |  |  |  |  |  |  |
at 6.15%; payable in monthly installments of $2,032; maturing |  |  |  |  |  |  |  |
June 2015; collateralized by equipment. |  |  | 56,390 |  |  |  | 77,040 |
Note payable to CNH Capital America, LLC, bearing interest |  |  |  |  |  |  |  |
at 4.5%; payable in monthly installments of $505; maturing |  |  |  |  |  |  |  |
June 2013; collateralized by equipment. |  |  | 3,478 |  |  |  | 8,648 |
Note payable to Catepillar Financial, bearing interest at 5.95%; |  |  |  |  |  |  |  |
payable in monthly installments of $827; maturing September 2015; |  |  |  |  |  |  |  |
collateralized by equipment. |  |  | 25,823 |  |  |  | - |
Note payable to GE Capital, bearing interest at 2.25%; payable in |  |  |  |  |  |  |  |
monthly installments of $359; maturing July 2013; collateralized by |  |  |  |  |  |  |  |
equipment. |  |  | 2,847 |  |  |  | 6,531 |
Note payable toDe Lage Landen Financial Services |  |  |  |  |  |  |  |
bearing interest at 5.30%; payable in monthly installments of $549; |  |  |  |  |  |  |  |
maturing March 2016; collateralized by equipment. |  |  | 19,629 |  |  |  | - |
Note payable to Phyllis Rice, bearing interest |  |  |  |  |  |  |  |
at 1%; payable in monthly installments of $2,000; maturing |  |  |  |  |  |  |  |
March 2015; collateralized by equipment. |  |  | 55,365 |  |  |  | 80,882 |
Note payable to De Lage Landen Financial Services, |  |  |  |  |  |  |  |
bearing interest at 5.12%; payable in monthly installments of $697; |  |  |  |  |  |  |  |
maturing December 2014; collateralized by equipment. |  |  | 16,496 |  |  |  | 19,229 |
Note payable to Catepillar Financial, bearing interest |  |  |  |  |  |  |  |
at 6.15%; payable in monthly installments of $766; maturing |  |  |  |  |  |  |  |
August 2014; collateralized by equipment. |  |  | 14,535 |  |  |  | 21,990 |
Note payable to De Lage Landen Financial Services, |  |  |  |  |  |  |  |
bearing interest at 5.28%; payable in monthly installments of $709; |  |  |  |  |  |  |  |
maturing June 2014; collateralized by equipment. |  |  | 12,235 |  |  |  | 23,529 |
Note payable for Corral Blanco Land, bearing interest at 6.0%, |  |  |  |  |  |  |  |
due May 1, 2013; collateralized by land |  |  | 86,747 |  |  |  | - |
Note payable for Soyatal Mine, 7.0 % interest, |  |  |  |  |  |  | - |
annual payments of $200,000 through 2019; |  |  | 1,067,431 |  |  |  |  |
|  |  | 1,505,494 |  |  |  | 237,849 |
Less Current portion |  |  | (461,354 | ) |  |  | (79,631 | )
Non-Current portion |  | $ | 1,044,140 |  |  | $ | 158,218 |
At December 31, 2102, principal payments on debt are due as follows:
Year Ending December 31, |  |  |
2013 |  | $ | 461,354 |
2014 |  |  | 259,360 |
2015 |  |  | 181,995 |
2016 |  |  | 159,551 |
2017 |  |  | 168,974 |
2018 |  |  | 180,802 |
2019 |  |  | 93,458 |
|  | $ | 1,505,494 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
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