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DEBT (Tables)
 12 Months Ended
Dec. 31, 2014
DEBT  
Schedule of components of notes payable

 

Notes payable consists of the following at December 31:

 

 

 

2014

 

2013

 

Notes payable to commercial banks

 

 

 

 

 

Four outstanding notes payable as of 12/31/2014 with interest between 3.5% and 4.6%, due in monthly installments between $128,363 and $215,863 plus interest; collateralized by equipment

 

$
12,072,454

 

$
14,416,225

 

 

 

 

 

 

 

Notes payable to finance companies for insurance

 

 

 

 

 

Two outstanding notes payable as of 12/31/2014 with interest between 4.09% and 4.95%, due in monthly installments between $14,674 and $326,366 including interest

 
449,308

 
501,766

 

 

 

$
12,521,762

 

$
14,917,991

 

Less current maturities

 
(7,296,950

)
(8,434,879

)

 

 

$
5,224,812

 

$
6,483,112

 

 

 

Schedule of annual maturities of notes payable

 

Aggregate annual maturities of notes payable at December 31, 2014 are as follows:

 

Year Ending
December 31,

 

 

 

2015

 

$
7,296,950 

 

2016

 
3,572,428 

 

2017

 
1,652,384 

 

2018

 

—

 

 

 

$
12,521,762