| Schedule of Long Term Debt |
Long term debt consists of the following:
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September 30, 2015 |
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December 31, 2014 |
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|
|
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Term Loan Agreements |
|
$ |
10,555,639 |
|
|
$ |
7,475,000 |
|
Equipment Financing Agreement |
|
452,548 |
|
|
— |
|
|
|
11,008,187 |
|
|
7,475,000 |
|
Less: Current portion of Long Term Debt |
|
1,929,167 |
|
|
1,495,000 |
|
Long Term Debt, net of Current Portion |
|
$ |
9,079,020 |
|
|
$ |
5,980,000 |
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|
|
|
|
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Future minimum loan payments: |
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|
|
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2015 |
|
$ |
423,750 |
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|
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2016 |
|
2,397,500 |
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|
|
2017 |
|
2,631,666 |
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|
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2018 |
|
2,434,215 |
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|
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2019 |
|
2,418,556 |
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|
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Thereafter |
|
702,500 |
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|
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Total |
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$ |
11,008,187 |
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|
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| Schedule of Maturities of Long-term Debt |
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September 30, 2015 |
|
December 31, 2014 |
|
|
|
|
|
Term Loan Agreements |
|
$ |
10,555,639 |
|
|
$ |
7,475,000 |
|
Equipment Financing Agreement |
|
452,548 |
|
|
— |
|
|
|
11,008,187 |
|
|
7,475,000 |
|
Less: Current portion of Long Term Debt |
|
1,929,167 |
|
|
1,495,000 |
|
Long Term Debt, net of Current Portion |
|
$ |
9,079,020 |
|
|
$ |
5,980,000 |
|
|
|
|
|
|
Future minimum loan payments: |
|
|
|
|
2015 |
|
$ |
423,750 |
|
|
|
2016 |
|
2,397,500 |
|
|
|
2017 |
|
2,631,666 |
|
|
|
2018 |
|
2,434,215 |
|
|
|
2019 |
|
2,418,556 |
|
|
|
Thereafter |
|
702,500 |
|
|
|
Total |
|
$ |
11,008,187 |
|
|
|
|