CAPITAL LEASE OBLIGATION

9 Months Ended

Sep. 30, 2015

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

NOTE 14 - CAPITAL LEASE OBLIGATION

On September 30, 2013, the Company entered into an equipment lease for computer equipment. The lease is payable in 24 monthly installments of approximately $14,000, including interest at an annual rate of 12.82%. The term of the lease commenced in December 2013 and expires in December 2015. The Company has the option to purchase the equipment for $1.00 at the end of the term of the lease.

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

Year ending December 31:

October - December 2015	$	29,000
Less: amount representing interest		(1,000)
Total	$	28,000