Note 6 - Capital Lease Obligations

12 Months Ended

Dec. 31, 2015

Debt and Capital Leases Disclosures [Text Block]

6. CAPITAL LEASE OBLIGATIONS

We lease certain telecommunication equipment under a capital lease agreement. The asset subject to the agreement totaled $227,783, $22,152 which is included in Property and Equipment and $205,631 which is included in Prepaid Equipment (not placed in service) as of December 31, 2015. Accumulated depreciation on the assets placed in service at that date was $264. Amortization of the capitalized cost is charged to depreciation expense.

At December 31, 2015, the amounts outstanding under capital lease obligation consisted of the following:

	20 15
Capital Lease secured by certain telecommunication equipment – total annual principal payments of $72,686, 1.8% interest, maturing January 2018	$	156,271
Less amount representing interest		4,189
Total obligation under capital lease		152,082
Less - Current maturities		72,686
	$	79,396