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Note 6 - Capital Lease Obligations | 12 Months Ended
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Dec. 31, 2015
Notes to Financial Statements |
Debt and Capital Leases Disclosures [Text Block] | 6. CAPITAL LEASE OBLIGATIONS We lease certain telecommunication equipment under a capital lease agreement. The asset subject to the agreement totaled $227,783, $22,152 which is included in Property and Equipment and $205,631 which is included in Prepaid Equipment (not placed in service) as of December 31, 2015. Accumulated depreciation on the assets placed in service at that date was $264. Amortization of the capitalized cost is charged to depreciation expense. At December 31, 2015, the amounts outstanding under capital lease obligation consisted of the following:
|  | 20 15 |
Capital Lease secured by certain telecommunication equipment – total annual principal payments of $72,686, 1.8% interest, maturing January 2018 |  | $ | 156,271 |
Less amount representing interest |  |  | 4,189 |
Total obligation under capital lease |  |  | 152,082 |
Less - Current maturities |  |  | 72,686 |
|  | $ | 79,396 |

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- Definition The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References No definition available. + Details
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