Subsequent Events |
9 Months Ended |
|---|---|
Sep. 30, 2011 | |
| Subsequent Events [Abstract] | |
| Subsequent Events [Text Block] |
SUBSEQUENT EVENTS
On October 3, 2011 the Company entered into a construction and term loan with a syndication group with an original principal amount of $7,380,068. The note evidencing the loan bears interest at a rate of 6.11%. Monthly interest payments are due from November 1, 2011 to April 1, 2012. The principal amounts are due starting on May 1, 2012 in monthly installments ranging from $33,466 to $101,215, plus interest, with remaining principal balances and unpaid interest due April 1, 2027.
The Company has evaluated subsequent events through the date of this filing. Except as disclosed above, there were no other subsequent events to report.
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