| Capital Lease Obligations [Text Block] |
| 9. | Capital Leases Payable
| Capital leases payable at March 31, 2014 and December 31, 2013 is associated with the South African operations and consists of the following: | | | March 31, | | December 31, | | | | | 2014 | | 2013 | | | | | | | | | | | | Capital lease payable, due in 49 monthly installments of $1,081, including interest at 10%, through April 2016 | | $ | 25,939 | | $ | 28,589 | | | | | | | | | | | | Capital lease payable, due in 32 monthly installments of $800 including interest at 10%, through November 2014 | | | 6,352 | | | 8,627 | | | | | | | | | | | | Capital leases payable, due in 34 monthly installments of $1,560, including interest at 11.5%, through July 2016 | | | 44,420 | | | 46,721 | | | | | | | | | | | | Capital lease payable, due in 34 monthly installments of $2,200, including interest at 11.5%, through November 2016 | | | 61,580 | | | 66,354 | | | | | | | | | | | | Capital lease payable, due in 36 monthly installments of $1,022, including interest at 10%, through February 2015 | | | 10,306 | | | 14,789 | | | Total capital leases payable | | | 148,597 | | | 165,080 | | | Current maturities | | | 58,717 | | | 59,162 | | | Capital leases payable, less current maturities | | $ | 89,880 | | $ | 105,918 | |
The current capital leases cover point of sale and other equipment for five of the South African restaurants. Annual requirements for capital lease obligations are as follows:
| March 31, | | Amount | | | 2015 | | $ | 58,717 | | | 2016 | | | 57,063 | | | 2017 | | | 32,817 | | | Total minimum lease payments | | | 148,597 | | | Less: amount representing interest | | | (12,140) | | | Present Value of Net Minimum Lease Payments | | $ | 136,457 | |
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