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DERIVATIVE INSTRUMENTS AND FAIR VALUE (Tables)
 9 Months Ended
Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values

At September 30, 2016 and December 31, 2015, the fair values of cash, accounts receivable, accounts payable and accrued expenses approximated their carrying values because of the short-term nature of these instruments.

 

   September 30, 2016 
   Carrying Amount   Fair Value 
Debt          
Short-term borrowings and long-term debt  $32,359,069   $32,359,069 

 

 

   December 31, 2015 
   Carrying Amount   Fair Value 
Debt          
Short-term borrowings and long-term debt  $25,195,452   $25,195,452
Schedule of liabilities measured on recurring basis

The following table presents the fair values of those financial liabilities measured on a recurring basis as of September 30, 2016 and December 31, 2015:

 

       Fair Value Measurements September 30, 2016 
Description   Total    Quoted Prices
in Active
Markets for
Identical assets
(Level 1)		    Significant
Other
Observable
Inputs (Level 2)		    Significant
Unobservable
Inputs (Level 3)		 
Interest Rate Swap, net  $72,000    —   $72,000    — 
Total  $72,000    —   $72,000    — 

 

       Fair Value Measurements December 31, 2015 
Description   Total    Quoted Prices
in Active
Markets for
Identical assets
(Level 1)		    Significant
Other
Observable
Inputs (Level 2)		    Significant
Unobservable
Inputs (Level 3)		 
Interest Rate Swap, net  $4,453    —   $4,453    — 
Total  $4,453    —   $4,453    —