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Note 8 - Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure Text Block [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]
     

2013

   

2012

 

HSBC BANK USA, NA

                 

$2,100,000 5 year term loan payable in monthly installments of $35,000 plus interest on the unpaid principal balance which accrues at a fixed rate of 3.045%. This term loan is secured by $1 million, provided that, so long as no event of default has occurred and is then continuing, HSBC will release $200,000 of the collateral on each anniversary of the closing date. On August 5, 2012 HSBC released $200,000, to reduce the collateral to $800,000. HSBC did not release any funds in 2013, as we were not in compliance with the terms of one of the covenants of the agreement.

    $ 1,120,000     $ 1,540,000  
                   

GENERAL ELECTRIC CAPITAL CORPORATION

                 

$2,700,000 Mortgage payable secured by real property, building and improvements at 1860 Smithtown Avenue, Ronkonkoma, NY pursuant to an installment sale agreement with the Town of Islip Industrial Development Agency; This amount was paid in full on April 5, 2013.

      -----       1,007,841  
                   

HSBC BANK USA, NA

                 

$6,000,000 Mortgage payable secured by real property Buildings and improvements at 355 South Technology Drive, Central Islip, NY payable in monthly principle installments of $25,000 plus interest. Interest presently accrues at our option, at the variable rate of LIBOR plus 1.75% or HSBC’s prime rate minus 0.50% The loan matures on March 1, 2022.

      4,165,508       5,775,000  

Totals

      5,285,508       8,322,841  

Less: Current maturities

      720,000       935,822  

Long-term debt

      4,565,508       7,387,019  
Schedule of Maturities of Long-term Debt [Table Text Block]

2014

  $ 720,000  

2015

    720,000  

2016

    580,000  

2017

    300,000  

2018

    300,000  

Thereafter

    2,665,508  
    $ 5,285,508