Notes Payable (Tables)

6 Months Ended

Jun. 30, 2013

The table below reflects all notes payable at June 30, 2013 and December 31, 2012, respectively, with the exception of related party notes disclosed in Note 8 - Notes Payable - Related Parties.

	June 30,		December 31,
	2013		2012
Bank Loan, due April 30, 2014	$	35,974	$	60,986
Authority Loan No. 1, due September 1, 2015		741,788		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

Total notes payable	$	1,527,762	$	2,179,792
Less current portion		(221,688)		(670,527)
Long-term portion of notes payable	$	1,306,074	$	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 June 30,	Amount
2014	$	221,688
2015		367,680
2016		530,759
2017		154,573
2018		165,747
Thereafter		87,315
Total	$	1,527,762