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Long Term Debt

3 Months Ended

Nov. 30, 2013

Notes to Financial Statements

Long Term Debt

NOTE 6: LONG TERM DEBT

Long-term debt consists of the following:

		November 30,				February 28,
		2013
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.		$	1,923,075			$	1,972,617
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.			96,143				140,618
Total long term debt			2,019,218				2,113,235
Due within one year			128,794				125,999
Due after one year		$	1,890,424			$	1,987,236

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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

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