Note 5 - Long-term Debt

12 Months Ended

Dec. 31, 2014

Disclosure Text Block [Abstract]

Long-term Debt [Text Block]

Note 5– Long-Term Debt

Long-term debt consists of the following at December 31, 2014 and 2013:

	December 31,
	2014			2013
PNC Term Loan, original principal balance of $11,000,000 at issuance, amended to $12,428,576 in November 2013, payable in twenty-three fixed monthly principal installments of $172,620 beginning November 2013, with the remaining principal due November 2, 2015. Variable interest rate based of 4.25% plus 1 month LIBOR for Eurodollar Rate Loans and interest at PNC Base Rate plus 2.25% for Domestic Rate Loans, collateralized by equipment, inventory, and accounts of the Company and subject to financial covenants. (See Note 4.)	$	-		$	12,083,336
Real Estate Loan for facility in North Dakota, interest at 3.75%, monthly principal and interest payment of $5,255 ending October 3, 2028. Collateralized by land and property purchased with the loan. $100,000 of loan guaranteed by the Company’s former Chairman and Chief Executive Officer.		677,204			713,756
Note payable to the seller of Heat Waves. The note was garnished by the Internal Revenue Service (“IRS”) in 2009 and is due on demand; payable in monthly installments of $3,000 per agreement with the IRS.		242,000			281,000
Mortgage payable to a bank; interest at 7.25%, due in monthly principal and interest payments of $4,555 through February 2017, secured by land.		107,967			153,018
Mortgage payable to a bank, interest at 5.9%, monthly principal and interest payments of $1,550 through January 2017 with a balloon payment of $88,118 on February 1, 2017; secured by land.		115,317			126,750
Note payable to vehicle finance companies, interest rates ranging from 4.74% to 8.2%. Paid in full during 2014.		-			404,329
Total		1,142,488			13,762,189
Total current portion		(340,520	)		(2,562,141	)
Long term debt, net of current portion		801,968			11,200,048

Aggregate maturities of debt, excluding the Senior Revolving Credit Facility described in Note 4, are as follows:

Year Ended December 31,
2015	$	340,520
2016		104,258
2017		138,796
2018		42,542
2019		44,188
Thereafter		472,184
Total	$	1,142,488