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LONG-TERM DEBT
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Long-term Debt [Text Block]
Note 5 – Long-Term Debt
 
Long-term debt consists primarily of eight notes with three financing companies collateralized by the Gamma Knife equipment having an aggregate net book value of $15,125,000, the individual customer contracts and related accounts receivable at December 31, 2017. In addition, the loan to finance the Company’s unit in Peru is guaranteed by GKF and collateralized by the Company’s stock in the subsidiary, GK Peru. These notes are payable in 36 to 81 fully amortizing monthly installments, mature between December 2018 and November 2021, and are collateralized by the respective Gamma Knife units. The notes accrue interest at fixed annual rates between 3.95% and 7.48%.
 
The following are contractual maturities of long-term debt by year at December 31, 2017:
 
 
 
Principal
 
Interest
 
Year ending December 31,
 
 
 
 
 
 
 
2018
 
$
2,459,000
 
$
301,000
 
2019
 
 
1,988,000
 
 
163,000
 
2020
 
 
1,146,000
 
 
61,000
 
2021
 
 
464,000
 
 
13,000
 
 
 
 
 
 
 
 
 
 
 
$
6,057,000
 
$
538,000