XML 25 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long Term Debt
 3 Months Ended
Nov. 30, 2011
Notes to Financial Statements  
Long Term Debt

NOTE 6: LONG TERM DEBT

 

Long-term debt consists of the following:

 

   November 30,  February 28,
   2011
Note payable, individual, collateralized by land and buildings, payable in monthly installments of principal and interest of $14,446 through January 2031.  Interest rate 5.5%.
20 year term		  $2,050,787   $2,095,179 
           
Equipment loan, bank, collateralized by related office equipment, payable in monthly installments of principal and interest of $5,154 through June 2015.  Interest rate 2.12%. 
48 month term		   213,313    0 
           
Equipment loan, bank, collateralized by related office equipment, payable in monthly installments of principal and interest of $529 through September 2011.  Interest rate 5.22%.
36 month term		   0    2,647 
           
Total long term debt   2,264,100    2,097,826 
Due within one year   120,303    62,247 
Due after one year  $2,143,797   $2,035,579