Annual report pursuant to Section 13 and 15(d)

Long term debt (Tables)

v3.3.1.900
Long term debt (Tables)
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
Long term debt consists of the following:

 
 
At December 31,
 
 
2015
 
2014
 
 
 
 
 
Term Loan Agreements
 
$
11,980,000

 
$
7,475,000

Equipment Financing Agreement
 
656,763

 

 
 
12,636,763

 
7,475,000

Less: Current portion of Long Term Debt
 
2,680,116

 
1,495,000

Long Term Debt, net of Current Portion
 
$
9,956,647

 
$
5,980,000

 
 
 
 
 
Future minimum loan payments:
 
 
 
 
2016
 
$
2,680,116

 
 
2017
 
3,022,920

 
 
2018
 
3,032,876

 
 
2019
 
2,900,851

 
 
2020
 
1,000,000

 
 
Thereafter
 

 
 
Total
 
$
12,636,763