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Capital Lease Obligations
 12 Months Ended
Dec. 31, 2014
Capital Lease Obligations [Abstract]  
Capital Lease Obligations
Note 12 — Capital Lease Obligations
 
The Company maintains equipment held under capital lease obligations due in monthly installments of $2,049 including interest at rates of 26.71%. The related equipment is collateral to the leases. Final payments are due through September 2015.
 
 
 
December 31,
2014
 
December 31,
2013
 
 
 
 
 
 
 
 
 
Total Principal Payments
 
$
16,882
 
$
41,552
 
Less: Amount Due Within One Year
 
 
(16,882)
 
 
(24,670)
 
 
 
 
 
 
 
 
 
Amount Due After One Year
 
$
—
 
$
16,882
 
 
Annual requirements for retirement of the capital lease obligations are as follows:
 
 
 
Amount
 
 
 
 
 
 
2015
 
$
18,445
 
 
 
 
 
 
Total Minimum Lease Payments
 
$
18,445
 
Less: Amount Representing Interest
 
 
(1,563)
 
 
 
 
 
 
Present Value of Minimum Lease Payments
 
$
16,882
 
 
The following is a summary of assets held under capital leases:
 
December 31,
 
2014
 
2013
 
 
 
 
 
 
 
 
 
Computers and Software
 
$
16,200
 
$
30,692
 
Furniture and Equipment
 
 
35,083
 
 
35,083
 
 
 
 
 
 
 
 
 
 
 
$
51,283
 
 
65,775
 
Less: Accumulated Depreciation
 
 
(42,230)
 
 
(52,275)
 
 
 
 
 
 
 
 
 
Net
 
$
9,053
 
$
13,500
 
 
Depreciation expense related to the assets under capital lease amounted to $12,417 and $17,247 for years ended December 31, 2014 and 2013, respectively.