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DERIVATIVE INSTRUMENTS AND FAIR VALUE (Tables)
6 Months Ended
Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values

At June 30, 2016 and December 31, 2015, the fair values of cash, accounts receivable, accounts payable and accrued expenses approximated their carrying values because of the short-term nature of these instruments.

    June 30, 2016
    Carrying Amount   Fair Value
Debt        
Short-term borrowings and long-term debt   $ 32,801,687     $ 32,801,687  

 

    December 31, 2015
    Carrying Amount   Fair Value
Debt        
Short-term borrowings and long-term debt   $ 25,195,452     $ 25,195,452  
Schedule of liabilities measured on recurring basis

The following table presents the fair values of those financial liabilities measured on a recurring basis as of June 30, 2016 and December 31, 2015:

        Fair Value Measurements June 30, 2016
Description   Total   Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
  Significant
Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
Interest Rate Swap, net   $ 116,936       —       $ 116,936       —    
Total   $ 116,936       —       $ 116,936       —    

 

        Fair Value Measurements December 31, 2015
Description   Total   Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
  Significant
Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
Interest Rate Swap, net   $ 4,453       —       $ 4,453       —    
Total   $ 4,453       —       $ 4,453       —