Annual report pursuant to Section 13 and 15(d)

Long term debt (Tables)

v3.7.0.1
Long term debt (Tables)
12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
Long term debt consists of the following:

 
 
At December 31,
 
 
2016
 
2015
 
 
 
 
 
Term Loan Agreements
 
$
9,485,000

 
$
11,980,000

Equipment Financing Agreement
 
1,421,033

 
656,763

Promissory notes, net
 
6,250,000

 

 
 
17,156,033

 
12,636,763

Less: Current portion of Long Term Debt
 
3,153,666

 
2,680,116

Discount on warrants, net
 
834,500

 

Long Term Debt, net of Current Portion
 
13,167,867

 
9,956,647

 
 
 
 
 
Future minimum loan payments:
 
 
 
 
2017
 
$
3,153,333

 
 
2018
 
3,180,798

 
 
2019
 
3,199,385

 
 
2020
 
1,264,790

 
 
2021
 
6,357,727

 
 
Thereafter
 

 
 
Total
 
$
17,156,033

 
 
Schedule of Debt
Long term debt consists of the following:

 
 
At December 31,
 
 
2016
 
2015
 
 
 
 
 
Term Loan Agreements
 
$
9,485,000

 
$
11,980,000

Equipment Financing Agreement
 
1,421,033

 
656,763

Promissory notes, net
 
6,250,000

 

 
 
17,156,033

 
12,636,763

Less: Current portion of Long Term Debt
 
3,153,666

 
2,680,116

Discount on warrants, net
 
834,500

 

Long Term Debt, net of Current Portion
 
13,167,867

 
9,956,647

 
 
 
 
 
Future minimum loan payments:
 
 
 
 
2017
 
$
3,153,333

 
 
2018
 
3,180,798

 
 
2019
 
3,199,385

 
 
2020
 
1,264,790

 
 
2021
 
6,357,727

 
 
Thereafter
 

 
 
Total
 
$
17,156,033