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OBLIGATIONS UNDER CAPITAL LEASES

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Debt and Capital Leases Disclosures [Text Block]

Note 6 – Obligations Under Capital Leases

The Company has nine capital lease obligations with four financing companies, collateralized by Gamma Knife equipment having an aggregate net book value of $23,755,000 at December 31, 2013. These obligations have stated interest rates ranging between 5.62% and 9.73%, are payable in 60 to 84 monthly installments, and mature between March 2014 and June 2020. As of December 31, 2012, the Company had nine capital lease obligations with four finance companies with an aggregate net book value of $23,133,000. Future minimum lease payments, together with the present value of the net minimum lease payments under capital leases at December 31, 2013, are summarized as follows:

		Net Present Value
		of Minimum
		Lease Payments
Year ending December 31,
2014		$	5,140,000
2015			4,809,000
2016			4,090,000
2017			3,335,000
2018			1,709,000
Thereafter			814,000
Total capital lease payments			19,897,000
Less imputed interest			2,980,000
			16,917,000
Less current portion			3,967,000
		$	12,950,000

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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.

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