FINANCING ARRANGEMENTS (Tables)

6 Months Ended

Jun. 30, 2016

FINANCING ARRANGEMENTS

Summary of long-term debt balances

	June 30			December 31
	2016			2015
Term notes payable - Wells Fargo Bank, N.A.
Real estate term notes bearing interest at three month LIBOR + 2.75% maturing March 31, 2027, and December 31, 2027 with combined monthly payments of approximately $19,000 plus interest, secured by substantially all assets.	$	2,530,461		$	2,645,495
Equipment notes bearing interest at three month LIBOR + 2.75% maturing May 2018 with a combined monthly payments of approximately $46,000 plus interest, secured by substantially all assets	2,592,093			2,633,740
Industrial revenue bond payable to the City of Blue Earth, Minnesota which bears a variable interest rate (approx. 0.25% at March 31, 2016), and has a maturity date of June 1, 2021, with principal of $80,000 payable annually on June 1	200,000			280,000
Devicix Acquistion Note 1 payable to DeLange Holdings bears interest rate of 4.0% per annum, maturing July 1, 2019	784,733			903,128
Devicix Acquistion Note 2 payable to DeLange Holdings bears interest rate of 4.0% per annum, maturing July 1, 2019	1,020,153			1,174,066
	7,127,440			7,636,429
Discount on Devicix Notes Payable	(122,247		)	(142,072		)
Debt issuance Costs	(35,035		)	(44,175		)
Total long-term debt	6,970,158			7,450,182
Current maturities of long-term debt	(1,508,921		)	(1,495,513		)
Long-term debt - net of current maturities	$	5,461,237		$	5,954,669