Capitalized Lease Obligations

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Note 5 - Capitalized Lease Obligations

The Company leases equipment under capitalized lease obligations with a total cost of $372,027 and $392,878 and accumulated amortization of $77,883 and $71,421 as of December 31, 2011 and January 1, 2011, respectively.

Minimum future lease payments under capital leases as of December 31, 2011, are as follows:

Year ending December:
2012	$	102,100
2013		80,920
2014		80,920
2015		20,767
2016		7,875
Total minimum lease payments		292,582
Less amount representing interest		50,497
Present value of net minimum lease payments		242,085
Less current portion		77,356
Long-term obligations under capital leases	$	164,729

Interest expense related to capital leases was $32,142 and $36,068 for the years ended December 31, 2011 and January 1, 2011, respectively.