XML 43 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Notes Payable (Tables)
 3 Months Ended
Mar. 31, 2013
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]

The table below reflects all notes payable at March 31, 2013 and December 31, 2012, respectively, with the exception of related party notes disclosed in Note 8 - Notes Payable - Related Parties.

 

    March 31,     December 31,  
    2013     2012  
Bank Loan, due April 30, 2014   $ 47,211     $ 60,986  
Authority Loan No. 1, due September 1, 2015     741,787       741,788  
Authority Loan No. 2, due August 1, 2018     750,000       750,000  
Notes payable to advisor, due March 16, 2013     -       131,500  
Note payable to advisor, due July 1, 2013     -       300,000  
Note payable due August 6, 2013     -       107,518  
Note payable to advisor, due February 8, 2013     -       38,000  
Note payable due June 1, 2013     50,000       50,000  
Total notes payable     1,588,998       2,179,792  
Less current portion     (186,076 )     (670,527 )
Long-term portion of notes payable   $ 1,402,922     $ 1,509,265
Schedule of Maturities of Long-term Debt [Table Text Block]

Future minimum principal payments of these notes payable with the exception of the related party notes in Note 8 - Notes Payable - Related Parties, as described in this Note 7 are as follows:

 

For the Twelve-Month
Period Ended March 31,		   Amount  
2014   $ 186,076  
2015     386,669  
2016     571,630  
2017     151,899  
2018     162,880  
Thereafter     129,844  
Total   $ 1,588,998