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LONG-TERM DEBT
 12 Months Ended
Dec. 31, 2012
Debt Disclosure [Abstract]  
Long-term Debt [Text Block]

Note 5 – Long-Term Debt

 

Long-term debt consists primarily of eleven notes with financing companies, related to Gamma Knife and radiation therapy equipment, construction and installation, totaling $17,769,000, as of December 31, 2012. These notes are payable in 36 to 84 monthly installments, mature between October 2014 and December 2017, and are collateralized by the respective Gamma Knife units and radiation therapy equipment. Eight of the notes accrue interest at fixed annual rates between 3.95% and 7.85%, and three of the notes accrue interest at semi-annually adjusted variable rates that are approximately 2.5% as of December 31, 2012. As of December 31, 2011 long-term debt consisted of nine notes totaling $15,368,000. As of December 31, 2012 and December 31, 2011 the Company was in compliance with all debt covenants required under notes with its lenders. The following are contractual maturities of long-term debt by year at December 31, 2012:

 

Year ending December 31,        
2013   $ 3,932,000  
2014     4,479,000  
2015     3,203,000  
2016     4,023,000  
2017     1,186,000  
Thereafter     946,000  
         
    $ 17,769,000