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LONG-TERM LIABILITIES
12 Months Ended
Dec. 31, 2012
Leases, Capital [Abstract]  
Capital Leases in Financial Statements of Lessee Disclosure [Text Block]

NOTE 11. LONG-TERM LIABILITIES

 

Capital Lease Obligations

 

The Company is obligated under various capital leases for equipment, which expire at various dates through April 2015. The assets capitalized under these leases and associated accumulated depreciation at December 31, are as follows.

  

    2012     2011  
Property and equipment   $ 113,400     $ 49,900  
Accumulated depreciation     (37,000 )     (14,000 )
    $ 76,400     $ 35,900  

 

Amortization of capital leases is included in depreciation expense.

 

Minimum future lease payments under capital lease obligations as of December 31, 2012 are as follows:

 

Year Ended December 31,        
2013   $ 30,900  
2014     27,100  
2015     21,600  
2016     4,100  
Total future minimum lease payments     83,700  
Less amount representing interest     8,800  
Present value of net minimum lease payments     74,900  
Less current portion     26,300  
    $ 48,600