FINANCING ARRANGEMENTS (Tables)

9 Months Ended

Sep. 30, 2017

FINANCING ARRANGEMENTS

Summary of long-term debt balances

	September 30,			December 31,
	2017			2016
Term note payable - Bank of America
Real estate term note bearing interest at one-month LIBOR + 2.25% maturing June 15, 2022 with monthly payments of approximately $41,000 plus interest secured by substantially all assets.	$	4,875,527		$	—
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
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
Industrial revenue bond payable to the City of Blue Earth, Minnesota which bears a variable interest rate had a maturity date on June 1, 2021, with principal of $80,000 payable annually on June 1. Bond redeemed on August 15, 2017.	—			200,000
Devicix Acquistion Note 1 payable to DeLange Holdings bears interest rate of 4.0% per annum, maturing July 1, 2019.	457,210			643,585
Devicix Acquistion Note 2 payable to DeLange Holdings bears interest rate of 4.0% per annum, maturing July 1, 2019.	594,373			836,661
	5,927,110			6,585,298
Discount on Devicix Notes Payable	(72,688		)	(102,424		)
Debt issuance Costs	(251,841		)	(25,896		)
Total long-term debt	5,602,581			6,456,978
Current maturities of long-term debt	(990,755		)	(1,565,347		)
Long-term debt - net of current maturities	$	4,611,826		$	4,891,631

Schedule of future minimum non-cancelable capital leases

Years Ending
December 31,	Amount
Remainder of 2017	$	16,620
2018	198,574
2019	208,733
2020	219,412
2021	230,638
Thereafter	221,791
Total	$	1,095,768