Financing Agreements and Subsequent Event (Tables)

12 Months Ended

Dec. 31, 2016

Financing Agreements and Subsequent Event

Summary of long-term debt balances

Description	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.	$	2,415,428		$	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	2,489,624			2,633,740
Industrial revenue bond payable to the City of Blue Earth, Minnesota which bears a variable interest rate (approx. 0.24% at December 31, 2014), 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	643,585			903,128
Devicix Acquistion Note 2 payable to DeLange Holdings bears interest rate of 4.0% per annum, maturing July 1, 2019	836,661			1,174,066
	6,585,298			7,636,429
Discount on Devicix Notes Payable	(102,424		)	(142,072		)
Debt issuance Costs	(25,896		)	(44,175		)
Total long-term debt	6,456,978			7,450,182
Current maturities of long-term debt	(1,565,347		)	(1,495,513		)
Long-term debt - net of current maturities	$	4,891,631		$	5,954,669

Schedule of future maturity requirements for long-term debt

Years Ending December 31,	Amount
2017	$	1,565,347
2018	2,716,668
2019	578,055
2020	230,067
2021	230,067
Future	1,265,094
	$	6,585,298