Long-Term Debt and Line of Credit

12 Months Ended

Dec. 31, 2011

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

3. Long-Term Debt and Line of Credit

Long-term debt at December 31, 2011 and 2010, is summarized as follows:

	December 31,
	2011		2010
Note payable to Ally, secured by equipment purchased with the proceeds of the loan, payable in monthly installments of $1,627 principal and interest, interest at 2.9%, final payment in 2011.	$	33,283	$	—
Note payable to ALLY, secured by equipment purchased with the proceeds of the loan, payable in monthly installments of $1,123 principal and interest, interest at 0.0%, final payment in 2014.		21,332		40,419
		54,615		40,419
Less - current maturities		32,285		13,473
	$	22,330	$	26,946

At December 31, 2011, approximately $108,000 of gross property and equipment was pledged as collateral to secure approximately $57,000 principal amount of long-term debt.

At December 31, 2011, the Company had an unsecured line of credit with a bank, under which the Company may borrow up to $500,000 through May 31, 2012. Interest on any borrowing is accrued at the bank's index rate plus 0.50 percentage points. The bank's index rate was 4.75% at December 31, 2011.

Maturities of long-term debt are as follows:

Year ending December 31,	2012	$	32,285
	2013		22,330
		$	54,615