Long-Term Loans

3 Months Ended

Mar. 31, 2013

Long-Term Debt, Current and Noncurrent [Abstract]

Long-Term Loans

11. Long-Term Loans

The components of the Company’s long-term loans are as follows:

	March 31,		December 31,
	2013		2012
Long-term loans:
Loan due to financial institution	$	547,346	$	622,114

The long-term loan is due in 2015 and has an interest rate of 7.152% and is secured by one of the Company’s office buildings.

Future minimum payments for the long-term loans are as follows:

Period ending March 31:
2014	$	312,769
2015		234,577
	$	547,346