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Notes Payable
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Notes Payable
NOTES PAYABLE
The Company has a mortgage note payable to Summit Community Bank (the “Bank”), with a balance of $1,514,893 as of March 31, 2016.  The note has a term of approximately eight years and a fixed interest rate of 3.99% annually with monthly payments of $25,642 and is secured by principally all of the assets of the Company.  Under the terms of the note, the Bank will permit chattel mortgages on purchased equipment not to exceed $250,000 for any one individual loan so long as the Company is not in default.  Also, the Company is limited to $1,000,000 for annual capital expenditures.  At March 31, 2016, the Company was in compliance with all covenants pursuant to the loan agreement as amended.
The Company also has a $2,000,000 line of credit, of which $352,022 was outstanding at March 31, 2016. The Company used the line of credit to purchase a capital asset that will be refinanced as an installment note payable in the short term. Therefore, the a portion of the purchase price is in current portion of long-term debt, $42,683 and the remainder, $309,339 is in notes payable. The line is evidenced by a commercial revolving promissory note with the Bank, which carries a variable interest rate of prime and matures on September 12, 2016. In addition, the Company has a commitment from the Bank in the amount of $1,000,000 for an equipment line of credit, of which, $187,110 has been used.