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NOTES PAYABLE
9 Months Ended
Jun. 30, 2015
Notes Payable [Abstract]  
Notes Payable [Text Block]
NOTE 5- NOTES PAYABLE

The Company secured permanent financing on the purchase of storage lot land in Arroyo Grande, California, with Heritage Oaks Bank. The loan was originated on May 8, 2008. The total loan currently outstanding is $2,345,523 and was financed over a period of ten years at a variable interest rate currently at 5.0%. The payments are currently $15,416 per month interest and principal. The Company secured a note payable with Donahue Transportation Services Corp on a 2008 Tow Truck. The loan originated on December 9, 2009. The total loan currently outstanding is $16,509 and financed over a period of seven years at an interest rate of 8.39%. The payments are currently $799 per month interest and principal. The Company secured a lease, which has been classified as a capital lease and included with notes payable. The capital lease is with Donahue Transportation Services Corp on a 2013 Hino Truck. The lease originated on May 10, 2012. The total balance currently outstanding is $43,925 and is financed over a period of seven years at an interest rate of 4.751%. The payments are currently $1,046 per month interest and principal. The Company secured a lease, which has been classified as a capital lease and included with notes payable. The capital lease is with RLC Funding on a security system for Lot-K. The lease originated on November 8, 2013. The total balance currently outstanding is $41,502 and is financed over a period of five years at an interest rate of 13.537%. The payments are currently $1,295 per month interest and principal.

At June 30, 2015, minimum payments are as follows:

For the Year Ending June 30,

 

 

2016

$

98,755

2017

 

104,100

2018

 

2,229,327

2019

 

15,277

2020

 

-

Thereafter

 

-

Total

$

2,447,459