SHORT-TERM LOANS - Note 10

6 Months Ended

Jun. 30, 2013

Notes to Financial Statements

SHORT-TERM LOANS - Note 10

NOTE 10 - SHORT-TERM LOANS

Short-term loans are due to various financial institutions which are normally due within one year. As of June 30, 2013 and December 31, 2012, the Company's short term loans consisted of the following:

		June 30,		December 31,
		2013		2012
		(Unaudited)
M&T Bank line of credit for up to $3.0 million is collateralized by real
property, a certificate of deposit, and guarantees of Portables Unlimited,
Inc. (the 49.9% owner of Portables); at 1 month LIBOR plus 3.00%.	$	2,488,424	$	2,994,999
SKAVYNIA HOLDINGS LTD		525,000		525,000
M&T Bank short term portion of $2.5 million loan at 1-month LIBOR plus
3.50% due in 4 years from February 5, 2013, amortizing monthly.		595,348		-
Total	$	3,608,772	$	3,519,999