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Long - Term Debt
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Note 5. Long - Term Debt

Long-term debt at March 31, 2012 and December 31, 2011, is as follows:

 

    2012     2011  
Note payable to De Lage Landen financial Services, bearing interest            
at 5.3%; payable in monthly installments of $549; maturing            
March 2016; collateralized by equipment.   $ 23,700     $ -  
                 
Note payable to Western States Equipment Co., bearing interest                
at 6.15%; payable in monthly installments of $2,032; maturing                
June 2015; collateralized by equipment.     71,689       77,040  
                 
Note payable to CNH Capital America, LLC, bearing interest                
   at 4.5%; payable in monthly installments of $505; maturing                
   June 2013; collateralized by equipment.     7,337       8,648  
                 
Note payable to GE Capital, bearing interest at 2.25%; payable in                
monthly installments of $359; maturing July 2013; collateralized by                
equipment.     5,652       6,531  
                 
Note payable to Robert and Phyllis Rice, bearing interest                
at 1%; payable in monthly installments of $2,000; maturing                
March 2015; collateralized by equipment.     73,024       80,882  
                 
Note payable to De Lage Landen Financial Services                
at 5.2%; payable in monthly installments of $709; maturing                
July 2014; collateralized by equipment.     18,001       19,229  
                 
Note payable to Catepillar Finance, bearing interest                
at 6.15%; payable in monthly installments of $766; maturing                
August 2014; collateralized by equipment.     20,607       21,990  
                 
Note payable to De Lage Landen Financial Services                
at 5.2%; payable in monthly installments of $697; maturing                
January 2015; collateralized by equipment.     22,019       23,529  
                 
Note payable for Corral Blanco land, bearing interest                
at 6%; payable in three installments; maturing                
May 1, 2013; collateralized by land.     260,240          
                 
      502,269       237,849  
Less current portion     (255,454 )     (79,631 )
Noncurrent portion   $ 246,815     $ 158,218