LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Long-term debt consisted of the following:

	December 31, 2013		December 31, 2012
First Niagara:
Mortgage payable in equal monthly installments of $14,000 including interest at 9.25% through March 1, 2014 (“Maturity”) with a final lump sum payment representing the entire unpaid balance of principal, plus accrued interest at Maturity, collateralized by the building, land and personal property(1)	$	452,000	$	608,000
MARLIN:
Capital lease payable in equal monthly installment of $147 including interest at 14.46% through September 1, 2013		0		1,000
Debenture financing(2):
$634,000 in principal amount of Series A Debentures; interest at 15% per annum from August 1, 2013 through August 1, 2014, payable quarterly with first payment due November 1, 2013; maturity date of August 1, 2014		634,000		645,000
Bridge Loan with Cantone Asset Management, LLC(3):
Interest rate of 15% payable upon loan maturity; maturity date of August 1, 2014.		200,000		150,000
		1,286,000		1,404,000
Less debt discount (Debenture financing)		(60,000)		0
Total current debt	$	1,226,000	$	1,404,000

(1) The mortgage through First Niagara was refinanced and extended on March 8, 2013.

(2) The original debt with the Series A Debenture Holders was $750,000, with an interest rate of 10% per annum. It was payable semi-annually in August and February of each year with the first payment due February 1, 2009 and a maturity date of August 1, 2012. In July 2012, the Series A Debentures were amended and extended; under the amendment and extension the interest rate from August 1, 2012 through December 31, 2012 was increased to 15% per annum (the interest rate from January 1, 2012 through July 31, 2012 remained at 10%), and the maturity date was extended to August 1, 2013, and $105,000 of Series A Debentures were repaid with a portion of loan proceeds from Cantone Asset Management LLC; lowering the principal of the Series A Debenture to $645,000. The Series A Debentures were amended and extended in October 2013, and the terms noted in the table above are the revised terms of the Series A Debentures. $10,000 in Series A Debentures was repaid under the extension, lowering the principal to $635,000 at December 31, 2013. Even after the amendment and extension, the Series A Debentures remained classified as a current liability given their maturity date of August 1, 2014.

(3) In October 2013, the Company increased our Bridge Loan with Cantone Asset Management LLC from $150,000 to $200,000. The additional $50,000 was used to pay placement agent fees of $39,750 and Cantone Research Inc’s legal fees of $4,000. The remaining proceeds (approx $6,000) were remitted to the Company and used toward the repayment of the $10,000 in non-extending Series A Debentures.

Schedule of Maturities of Long-term Debt [Table Text Block]

At December 31, 2013, the following are the maturities of long-term debt for each of the next five years:

2014	$	1,226,000
2015		0
2016		0
2017		0
2018		0
	$	1,226,000