Line of Credit

6 Months Ended

Jun. 30, 2013

Long-Term Debt and Line of Credit [Abstract]

LINE OF CREDIT

(4) LINE OF CREDIT

Prior to July 2013, our line of credit was due on demand, with interest due monthly on outstanding balances at the higher of prime plus 2% or 6.5%. The credit line was cross collateralized with the equipment loan, was collateralized by substantially all our assets, including a mortgage on our High Springs property and is guaranteed by C.E. Rick Strattan, our Chairman and Chief Executive Officer. We owed $86,974 and $94,487 on this line of credit as of June 30, 2013 and December 31, 2012, respectively.

In July 2013, we refinanced our $100,000 line of credit, with interest due monthly at prime plus 1.8%, with a minimum rate of 4.75%. The line of credit is collateralized by all of our inventory, accounts receivable, equipment, general intangibles and fixtures. At the time of the refinancing, we borrowed approximately $41,700 under the line of credit, leaving approximately $58,300 available for future borrowings.