Quarterly report pursuant to Section 13 or 15(d)

Stockholder Notes Receivable

Stockholder Notes Receivable
6 Months Ended
Jun. 30, 2016
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]
8. Stockholder Notes Receivable
In 2005 and 2006, certain of the Company’s stockholders and officers issued various promissory notes totaling $195,000 for the sale of Common Stock. The notes were full recourse and were collateralized by the shares of stock sold. The amended notes bore compound interest at 0.93%, effective October 1, 2012. The noteholders were granted an extension of maturity to October 1, 2016.
As of June 30, 2016 and December 31, 2015, principal and accrued interest of $89,409 and $88,995 was outstanding on the remaining stockholder note.