XML 26 R13.htm IDEA: XBRL DOCUMENT
v3.3.1.900

LONG-TERM DEBT | 12 Months Ended
--- | ---
Dec. 31, 2015
LONG-TERM DEBT |
LONG-TERM DEBT | 7.LONG-TERM DEBT Long-term debt consists of the following:
|  | December 31, |
|  | 2015 |  | 2014 |
Loan from American First National Bank. It has a 20 year amortization and 10 year maturity from December 10, 2009. The loan provided funding for the expansion of the warehouse, additional office space, and a new Controlled Environment. The loan is secured by the Company’s land and buildings. The interest rate is 5.968%. |  | $ | 3,426,926 |  | $ | 3,574,772 |
Note payable to Deutsche Leasing USA, Inc. The interest rate is 3.69%. The original amount of the note was $276,495 with a 36 month maturity ending in July 2018. Beginning August 2015, the loan became payable in equal installments of principal and interest of approximately $8,100. Collateralized by molding machines and ancillary equipment. |  | 239,894 |  | — |
|  | 3,666,820 |  | 3,574,772 |
Less: current portion |  | (249,349 | ) | (149,744 | )
|  | $ | 3,417,471 |  | $ | 3,425,028 |
The fair value of long-term liabilities, based on Management’s estimates, approximates their reported values. The aggregate maturities of long-term debt as of December 31, 2015, are as follows:
2016 |  | $ | 249,349 |
2017 |  | 262,758 |
2018 |  | 236,048 |
2019 |  | 2,918,665 |
Thereafter |  | — |
|  | $ | 3,666,820 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: 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 + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration