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Note 8 - Long-Term Debt | 12 Months Ended
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Dec. 31, 2013
Disclosure Text Block [Abstract] |
Long-term Debt [Text Block] | Note 8 – Long-term Debt Long-term debt as of December 31 consists of the following:
|  |  | 2013 |  |  | 2012 |
HSBC BANK USA, NA |  |  |  |  |  |  |  |  |
$2,100,000 5 year term loan payable in monthly installments of $35,000 plus interest on the unpaid principal balance which accrues at a fixed rate of 3.045%. This term loan is secured by $1 million, provided that, so long as no event of default has occurred and is then continuing, HSBC will release $200,000 of the collateral on each anniversary of the closing date. On August 5, 2012 HSBC released $200,000, to reduce the collateral to $800,000. HSBC did not release any funds in 2013, as we were not in compliance with the terms of one of the covenants of the agreement. |  |  | $ | 1,120,000 |  |  | $ | 1,540,000 |
GENERAL ELECTRIC CAPITAL CORPORATION |  |  |  |  |  |  |  |  |
$2,700,000 Mortgage payable secured by real property, building and improvements at 1860 Smithtown Avenue, Ronkonkoma, NY pursuant to an installment sale agreement with the Town of Islip Industrial Development Agency; This amount was paid in full on April 5, 2013. |  |  |  | ----- |  |  |  | 1,007,841 |
HSBC BANK USA, NA |  |  |  |  |  |  |  |  |
$6,000,000 Mortgage payable secured by real property Buildings and improvements at 355 South Technology Drive, Central Islip, NY payable in monthly principle installments of $25,000 plus interest. Interest presently accrues at our option, at the variable rate of LIBOR plus 1.75% or HSBC’s prime rate minus 0.50% The loan matures on March 1, 2022. |  |  |  | 4,165,508 |  |  |  | 5,775,000 |
Totals |  |  |  | 5,285,508 |  |  |  | 8,322,841 |
Less: Current maturities |  |  |  | 720,000 |  |  |  | 935,822 |
Long-term debt |  |  |  | 4,565,508 |  |  |  | 7,387,019 |
Future maturities of long-term debt as of December 31, 2013 are as follows:
2014 |  | $ | 720,000 |
2015 |  |  | 720,000 |
2016 |  |  | 580,000 |
2017 |  |  | 300,000 |
2018 |  |  | 300,000 |
Thereafter |  |  | 2,665,508 |
|  | $ | 5,285,508 |
As of December 31, 2013, we were not in compliance with the terms of the covenants in both HSBC Bank, USA, N.A. loan agreements. We received waivers on the agreements.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: 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
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