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DEBT (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Principal Repayments Under Mortgage Loan Payable

Required principal repayments under the mortgage loan payable are as follows:


Years Ending December 31
2014	$	46,800
2015		49,200
2016		50,400
2017		52,800
2018 and thereafter		1,095,200

Total mortgage payable	$	1,294,400

Summary of Future Payments Under Outstanding Capital Leases

At December 31, 2013, future required payments under all outstanding capital leases are as follows:


2014	$	143,613
2015		142,726
2016		111,660

Total		397,999
Less imputed interest		(18,734	)

Present value of minimum lease payments	$	379,265

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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