General form of registration statement for all companies including face-amount certificate companies

LONG TERM NOTES PAYABLE (Tables)

v2.4.0.6
LONG TERM NOTES PAYABLE (Tables)
9 Months Ended
Sep. 30, 2012
Debt Disclosure [Abstract]  
Schedule Of Long Term Debt [Table Text Block]

Long-term notes payable consists of the following as of December31:

 

 

 

2011

 

 

2010

 

 

 

 

 

 

 

 

Bank Note,7.01% interest

 

$

 

 

$

675,743

 

Wisconsin Department of Commerce, 2% interest

 

 

450,000

 

 

 

450,000

 

 

 

 

450,000

 

 

 

1,125,743

 

Less current portion

 

 

 

 

 

(204,802

)

Long-term note payable, net of current portion

 

$

450,000

 

 

$

920,941

 

 

Schedule of Maturities of Long-term Debt [Table Text Block]

As of December31,2011, long-term notes payable matures as follows:

 

Years ended December31,

 

 

 

 

2012

 

$

 

2013

 

 

 

2014

 

 

 

2015

 

 

119,957

 

2016

 

 

243,591

 

Thereafter

 

 

86,452

 

 

 

$

450,000