Annual report pursuant to Section 13 and 15(d)

Long term debt and revolving line of credit

Long term debt and revolving line of credit

12 Months Ended

Dec. 31, 2014

Long term debt and revolving line of credit:

Long term debt and revolving line of credit

Note 15 – Long term debt and revolving line of credit

Long term debt

	2014	2013
Two auto loans through Compass bank, interest at 7.99% per annum, monthly principle and interest payments of $538, maturing February 2016	$ 7,168	0

Auto loan through Ford Credit, interest at 6.64% per annum, monthly principle and interest payments of $467, maturing October 2015	4,088	0

Auto loan through Hyundai Motor Finance, interest at 2.99% per annum, monthly principle and interest payments of $878, maturing December 2018.	38,905	0

Total notes payable	50,160	0

Less: Current maturities	(18,911)	0

	31,249	0

Revolving line of credit

The Company has a $75,000 unsecured revolving line of credit with Bank of America, with interest at the bank’s prime rate plus 3% due monthly. The line of credit matures on September 4, 2015. At December 31, 2014 and 2013, the Company had $60,000 and $0 outstanding on the line of credit, respectively. The line is secured by a personal guarantee of WCI’s president.