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Note 8 - Leases

12 Months Ended

Dec. 31, 2013

Leases of Lessee Disclosure [Text Block]

8. Leases

The Company leases several operating facilities, vehicles and equipment under non-cancelable operating leases. The Company accounts for operating leases on a straight line basis over the lease term. Future minimum lease payments consist of the following at December 31, 2013:

2014	$	390,766
2015		374,072
2016		374,072
2017		374,072
2018		221,309
Thereafter		—
Total	$	1,734,291

Rent expense amounted to approximately $451,786, $407,600, and $380,800 in 2013, 2012 and 2011, respectively.

Effective October 21, 2013, the Company entered into a five-year lease agreement for certain plant equipment under which the Company is making monthly payments of $1,480. Pursuant to terms of the lease agreement, which contains a bargain purchase option, the Company recorded a capital lease obligation of $77,000. As of December 31, 2013, the outstanding amount of the capital lease obligation was $73,651.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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