CAPITAL LEASE OBLIGATION

12 Months Ended

Dec. 31, 2013

Capital Leases in Financial Statements of Lessee Disclosure [Text Block]

NOTE 14- CAPITAL LEASE OBLIGATION

In September 2013, the Company acquired certain computer equipment pursuant to a capital lease obligation. Under the lease agreement, during the term which expires in December 2015, the Company is required to make monthly payments of approximately $14,000, including interest at an annual rate of 12.82%

Annual minimum lease payments under capital lease obligations are as follows:

Year ending December 31:

2014	$	174,000
2015		159,000

		333,000
Less: amount representing interest		(40,000)
Total	$	293,000