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Note 4 - Factoring

6 Months Ended

Jun. 30, 2015

FACTORING

Due from factor consisted of the following as of:

	June 30,			December 31,
	2015			2014

Original invoice value	$	2,184,290		$	306,625
Factored amount		(315,739	)		(229,968	)
Due to factor		(326,367	)		-
Due from factor	$	1,542,184		$	76,657

As of December 2011, the Company entered into a 24 month accounts receivable factoring arrangement with a financial institution (the “Factor”). Pursuant to the terms of the arrangement, the Company, from time to time, sells to the Factor certain of its accounts receivable balances on a non-recourse basis for credit approved accounts. The Factor remits 35% for foreign and 75% for domestic of the accounts receivable balance to the Company (the “Advance Amount”), with the remaining balance, less fees to be forwarded to the Company once the Factor collects the full accounts receivable balance from the customer. Factoring fees range from 2.75% to 21% of the face value of the invoice factored, and are determined by the number of days required for collection of the invoice. In April 2012, the terms were updated from monthly to quarterly, and the 24-month arrangement was extended to August 1, 2014. In July of 2014, the arrangement was extended to July 31, 2016.