Term Note Payable and Revolving Credit Line (Tables)

9 Months Ended

Sep. 30, 2013

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table summarizes our term note payable and revolving credit line balances as of September 30, 2013 and December 31, 2012:

	September 30, 2013			December 31, 2012
Term note payable - 4.25 percent at September 30, 2013 (prime plus 1.0 percent), due February 10, 2016	$	3,222,222		$	4,222,222
Revolving credit line - 3.75 percent at September 30, 2013 (prime plus 0.5 percent), due March 29, 2015	3,175,000			3,600,000
Total	$	6,397,222		$	7,822,222
Less: current portion	(1,333,333		)	(1,333,333		)
Long-term portion	$	5,063,889		$	6,488,889

Schedule of Maturities of Long-term Debt

Principal payments under the term note payable are due as follows as of September 30, 2013:

2013	$	333,333
2014	1,333,333
2015	1,333,333
2016	222,223
Total	$	3,222,222