| Schedule of Long Term Debt |
Long term debt consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2016 |
|
December 31, 2015 |
|
|
|
|
Term Loan Agreements |
$ |
10,899,167 |
|
|
$ |
11,980,000 |
|
Equipment Financing Agreement |
840,364 |
|
|
656,763 |
|
Promissory note, net |
875,000 |
|
|
|
|
12,614,531 |
|
|
12,636,763 |
|
Less: Current portion of Long Term Debt |
3,026,324 |
|
|
2,680,116 |
|
Long Term Debt, net of Current Portion |
$ |
9,588,207 |
|
|
$ |
9,956,647 |
|
|
|
|
|
Future minimum loan payments: |
|
|
|
2016 |
$ |
1,505,893 |
|
|
|
2017 |
3,022,920 |
|
|
|
2018 |
3,032,876 |
|
|
|
2019 |
3,043,342 |
|
|
|
2020 |
1,134,500 |
|
|
|
Thereafter |
875,000 |
|
|
|
Total |
$ |
12,614,531 |
|
|
|
|
| Schedule of Maturities of Long-term Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2016 |
|
December 31, 2015 |
|
|
|
|
Term Loan Agreements |
$ |
10,899,167 |
|
|
$ |
11,980,000 |
|
Equipment Financing Agreement |
840,364 |
|
|
656,763 |
|
Promissory note, net |
875,000 |
|
|
|
|
12,614,531 |
|
|
12,636,763 |
|
Less: Current portion of Long Term Debt |
3,026,324 |
|
|
2,680,116 |
|
Long Term Debt, net of Current Portion |
$ |
9,588,207 |
|
|
$ |
9,956,647 |
|
|
|
|
|
Future minimum loan payments: |
|
|
|
2016 |
$ |
1,505,893 |
|
|
|
2017 |
3,022,920 |
|
|
|
2018 |
3,032,876 |
|
|
|
2019 |
3,043,342 |
|
|
|
2020 |
1,134,500 |
|
|
|
Thereafter |
875,000 |
|
|
|
Total |
$ |
12,614,531 |
|
|
|
|