Line of Credit and Long Term Debt (Tables)

3 Months Ended

Mar. 31, 2017

Line of Credit and Long Term Debt [Abstract]

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

Long-term debt consisted of the following:

	MARCH 31,		DECEMBER 31,
	2017		2016
	(Unaudited)
Cardinal Bank mortgage dated December 17, 2010 (1)	$	427,483	$	432,367
Cardinal Bank term note dated December 31, 2011 (2)		-		74,681
Total		427,483		507,048
Less: current portion		20,491		94,868
Long-term debt, net of current portion	$	406,992	$	412,180
Long-term debt related to assets held for sale, net of current portion	$	406,992	$	412,180

(1)     On December 17, 2010, the Company entered into a real estate purchase agreement to acquire operations and call center facility in Columbus, Ohio for approximately $677,000 and financed a significant portion of the purchase price with a $528,000 ten-year mortgage with Cardinal Bank. 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 condensed 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 $4.0 million 5-year term note with Cardinal Bank (“Cardinal Bank Term Note”) to fund a portion of the purchase price paid in connection with the asset purchase agreement with Avalon Global Solutions, Inc. dated December 30, 2011. The term note bears interest at 4.5% with monthly principal and interest payments of approximately $74,694, and matured on December 30, 2016. The term note was secured under a corporate security agreement. The Company paid the last scheduled installment on January 6, 2017.

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The following sets forth the Company’s future minimum payment obligations under these capital lease agreements for fiscal years ending March 31, 2017:

2017	$	22,850
2018		22,850
2019		22,850
2020		22,838
Total principal and interest payments		91,388
Less: portion representing interest		10,861
Present value of minimum lease payments under capital lease agreements		80,527
Less: current portion		22,850
Capital lease obligations, net of current portion	$	57,677