NOTE 7 - CAPITAL LEASE OBLIGATIONS

9 Months Ended

Sep. 30, 2016

Leases, Capital [Abstract]

Capital Leases in Financial Statements of Lessee Disclosure [Text Block]

NOTE 7 – CAPITAL LEASE OBLIGATIONS

The Company has entered into lease commitments for equipment that meet the requirements for capitalization. The equipment has been capitalized and is included in the accompanying balance sheets.  The related obligations are based upon the present value of the future minimum lease payments with interest rates ranging from 7.1% to 12.5%.

At September 30, 2016, future payments under capital leases are as follows:

Remainder of 2016	$	33,195
2017		114,267
2018		60,631
2019		1,785
Total minimum lease payments		209,878
Less amounts representing interest		(15,446	)
Present value of net minimum lease payments		194,432
Less current portion		(111,719	)
Long-term capital lease obligation	$	82,713