Quarterly report pursuant to Section 13 or 15(d)

Short Term Debt (Tables)

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Short Term Debt (Tables)
9 Months Ended
Sep. 30, 2015
Short Term Debt Tables  
Schedule of Short Term Debt

Short term debt consisted of the following:

 

    September 30, 2015     December 31, 2014  
Short term debt                
Revolving line of credit   $ 1,999,084     $ 1,991,605  
2012 and 2013 notes payable to individuals     260,000       285,000  
April 2014 note payable to an individual     200,000       200,000  
April 2015 note payable to an individual     50,000       -  
September 2015 factoring agreement             -  
    $ 2,509,084     $ 2,476,605  

Schedule of Interest Expense Short Term Debt

Interest expense for the short term debt for the nine months ended September 30, 2015 and 2014 is summarized as follows:

 

    Nine months ended     Nine months ended  
    September 30, 2015     September 30, 2014  
Interest expense on short term debt                
Revolving line of credit   $ 66,562     $ 51,468  
2012 and 2013 notes payable to individuals     15,933       16,793  
April 2014 note payable to an individual     11,967       -  
April 2015 note payable to an individual     2,315       -  
September 2015 factoring agreement             -  
    $ 96,777     $ 68,261