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Debt (Tables)
12 Months Ended
Dec. 31, 2012
Debt  
Schedule of long-term notes payable

 

 

 
  December 31,
2012
  December 31,
2011
 

Note payable to bank, with interest at 3.46%, payable in monthly principal installments of $72,917 plus interest through March 28, 2016, collateralized by all the assets of the Company except Dansensor stock. 

  $ 2,916,664   $  

Seller financed note payable (Seller Note), with interest at 3.46%, payable in semi-annual principal and interest payments totaling $891,000 beginning October 2, 2012 through April 2, 2015, collateralized by 65% of the outstanding stock of Dansensor. 

   
3,517,067
   
 

Capital leases (Note 8)

   
59,286
   
 
           

Total long-term notes payable

  $ 6,493,017   $  

Less current portion of long-term notes payable

    2,566,154      
           

Total long-term notes payable

  $ 3,926,863   $  
           
Schedule of future minimum principal payments of the long term notes payable

As of December 31, 2012, the future minimum principal payments of the long-term notes payable for each fiscal year thereafter is as follows:

2013

  $ 2,566,154  

2014

    2,625,561  

2015

    992,734  

2016

    305,797  

2017

    2,771  
       

Total

  $ 6,493,017