Quarterly report pursuant to sections 13 or 15(d)

NOTE 7 - SUBSEQUENT EVENT

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NOTE 7 - SUBSEQUENT EVENT
6 Months Ended
Jun. 30, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
NOTE 7 – SUBSEQUENT EVENT

On August 1, 2013, the Company negotiated a new line of credit and term loan from the bank. The term of the line is for two years and expires on July 31, 2015. The agreement included a borrowing base calculation tied to accounts receivable with a maximum availability of $750,000 at prime plus 1.75% interest (currently 5%).  The line is collateralized by substantially all of the assets of the Company and is guaranteed by the Company’s Chief Executive Officer, Mr. Meller.  The credit facility requires the Company to pay a monitoring fee of $1,000 monthly. The Company also negotiated a term loan in amount of $350,000. The term of the loan is for 2 years and expires on July 31, 2015. Monthly payments are at $15,776 per month at an interest rate of 8%.