Line of Credit and Long Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Line of Credit and Long Term Debt [Abstract]

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

Long-term debt consisted of the following:

	DECEMBER 31,
	2016		2015
Cardinal Bank mortgage dated December 17, 2010 (1)	$	432,367	$	450,770
Cardinal Bank term note dated December 31, 2011 (2)		74,681		874,692
Total		507,048		1,325,462
Less: current portion		94,868		893,706
Long-term debt, net of current portion	$	412,180	$	431,756
Long-term debt related to assets held for sale, net of current portion	$	412,180	$	-

(1) On December 17, 2010, the Company entered into a real estate purchase agreement to acquire the Lewis Center Facility for approximately $677,000. In connection with the real estate purchase agreement the Company entered into a $528,000 ten-year mortgage with Cardinal Bank to fund the unpaid portion of the purchase price. The mortgage loan bears interest at 6.0% with monthly principal and interest payments of approximately $3,800, and matures on December 17, 2020. The mortgage loan principal and interest payments are based on a twenty-year amortization with the unpaid balance due at maturity. The mortgage loan is secured by the real estate. This mortgage obligation was classified separately as a liability held for sale on the consolidated balance sheets. See Note 3 for additional information regarding the planned sale of the Lewis Center Facility.

(2) On December 31, 2011, the Company entered into a $4 million 5-year term note with Cardinal Bank to fund a portion of the purchase price paid in connection with the asset purchase agreement with AGS dated December 30, 2011. The term note bears interest at 4.50% with monthly principal and interest payments of approximately $74,694, and matured on December 30, 2016. The Company paid the last scheduled installment payment on January 6, 2017.

Summary of Future Repayments on Long-term Debt [Table Text Block]

Future repayments on long-term debt are as follows for fiscal years ending December 31:

	Long-Term Debt Related to Assets Held for Sale		Other Long-Term Debt		Total Long-Term Debt
2017	$	20,187	$	74,681	$	94,868
2018		21,431		-		21,431
2019		22,753		-		22,753
2020		367,996		-		367,996
Total	$	432,367	$	74,681	$	507,048