XML 61 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Restricted Cash
6 Months Ended
Jun. 30, 2013
Cash And Cash Equivalents [Abstract]  
Restricted Cash

NOTE C – RESTRICTED CASH

As required by the original mortgage loan entered into with Fifth Third Bank (the “Bank”) on July 11, 2008 (see NOTE H), $500,000 was deposited into an additional interest-bearing account from which principal and interest payments are made. On each anniversary of the mortgage, we are to deposit into the account an amount sufficient to ensure a balance of $500,000 for principal and interest payments for the subsequent year of the mortgage. This mortgage loan matures during July 2013, at which point in time it was refinanced. The balance in this restricted cash account is held as additional collateral by the Bank and is not available for operations. Any funds remaining in this account at the end of the new mortgage term will be returned to the Company. The balance in this account at June 30, 2013, was $185,217. Subsequent to June 30, 2013, we renewed the mortgage with the Bank which modified the terms of the restricted cash account to require us to replenish the account up to $400,000 each year.