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OBLIGATIONS UNDER CAPITAL LEASES | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Debt and Capital Leases Disclosures [Text Block] | Note 6 – Obligations Under Capital Leases The Company has eleven capital lease obligations with four financing companies, collateralized by Gamma Knife equipment having an aggregate net book value of $17,608,000, the individual customer contracts and related accounts receivable at December 31, 2015. These obligations have stated interest rates ranging between 5.00% and 10.36%, are payable in 36 to 89 monthly installments, and mature between June 2017 and June 2020. As of December 31, 2014, the Company had ten capital lease obligations with four finance companies with an aggregate net book value of $18,279,000. At the end of each lease term, the Company has a bargain purchase option to purchase the equipment. Future minimum lease payments, together with the present value of the net minimum lease payments under capital leases at December 31, 2015, are summarized as follows:
|  | Net Present Value |
|  | of Minimum |
|  | Lease Payments |
Year ending December 31, |  |  |  |
2016 |  | $ | 5,080,000 |
2017 |  |  | 4,621,000 |
2018 |  |  | 3,051,000 |
2019 |  |  | 1,739,000 |
2020 |  |  | 501,000 |
Thereafter |  |  | - |
Total capital lease payments |  |  | 14,992,000 |
Less imputed interest |  |  | 1,471,000 |
|  |  | 13,521,000 |
Less current portion |  |  | 4,331,000 |
|  | $ | 9,190,000 |

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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. + References No definition available. + Details
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- References No definition available. + Details
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