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10. CAPITAL LEASE OBLIGATIONS
 12 Months Ended
Dec. 31, 2012
Leases [Abstract]  
10. CAPITAL LEASE OBLIGATIONS

 

NOTE 10 – CAPITAL LEASE OBLIGATIONS 

 

The components of capital lease obligations are as follows:

 

  Imputed   As of December 31, 
  Interest rate   2012     2011  
Total capital lease obligations 6.7%   $ 3,146,066     $ 3,226,300  
Less: Current portion       (193,164 )     (189,742 )
Capital lease obligations, net of current portion     $ 2,952,902     $ 3,036,558  

 

Interest expense from capital lease obligations amounted to $209,584 and $210,347, which were charged to the income statements for the year ended December 31, 2012 and 2011. See Note 21 for future minimum lease payments disclosure.