Long term debt (Tables)
|
6 Months Ended |
Jun. 30, 2015 |
|---|
| Debt Disclosure [Abstract] |
|
| Schedule of Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2015 |
|
December 31, 2014 |
|
|
|
|
|
Term Loan Agreements |
|
$ |
7,327,500 |
|
|
$ |
7,475,000 |
|
Equipment Financing Agreement |
|
502,548 |
|
|
— |
|
|
|
7,830,048 |
|
|
7,475,000 |
|
Less: Current portion of Long Term Debt |
|
1,728,333 |
|
|
1,495,000 |
|
Long Term Debt, net of Current Portion |
|
$ |
6,101,715 |
|
|
$ |
5,980,000 |
|
|
|
|
|
|
Future minimum loan payments: |
|
|
|
|
2015 |
|
$ |
847,500 |
|
|
|
2016 |
|
1,795,000 |
|
|
|
2017 |
|
1,828,333 |
|
|
|
2018 |
|
1,630,881 |
|
|
|
2019 |
|
1,628,334 |
|
|
|
Thereafter |
|
100,000 |
|
|
|
Total |
|
$ |
7,830,048 |
|
|
|
|
| Schedule of Maturities of Long-term Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2015 |
|
December 31, 2014 |
|
|
|
|
|
Term Loan Agreements |
|
$ |
7,327,500 |
|
|
$ |
7,475,000 |
|
Equipment Financing Agreement |
|
502,548 |
|
|
— |
|
|
|
7,830,048 |
|
|
7,475,000 |
|
Less: Current portion of Long Term Debt |
|
1,728,333 |
|
|
1,495,000 |
|
Long Term Debt, net of Current Portion |
|
$ |
6,101,715 |
|
|
$ |
5,980,000 |
|
|
|
|
|
|
Future minimum loan payments: |
|
|
|
|
2015 |
|
$ |
847,500 |
|
|
|
2016 |
|
1,795,000 |
|
|
|
2017 |
|
1,828,333 |
|
|
|
2018 |
|
1,630,881 |
|
|
|
2019 |
|
1,628,334 |
|
|
|
Thereafter |
|
100,000 |
|
|
|
Total |
|
$ |
7,830,048 |
|
|
|
|