XML 35 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
NOTE PAYABLE
12 Months Ended
Dec. 31, 2017
NOTE PAYABLE [Abstract]  
NOTE PAYABLE
NOTE 15 — NOTE PAYABLE:

In September 2017, the Company entered into an agreement with an equipment vendor to purchase automated assembly equipment for approximately $660,000.  The terms call for prepayments of 30% down, 60% at time of factory acceptance testing and 10% after delivery.  The vendor agreed to lend the Company 15%, 40%, and 10% of each originally scheduled payment, respectively.  The Company will pay interest at an annual rate of 12% until delivery.  Thirty days after delivery, the Company will begin making monthly payments of principal and interest of approximately $20,150, at an annual rate of 12% over a twenty-four month period.