| Schedule of Long Term Debt |
Long term debt consisted of the following:
|
|
|
|
|
|
|
|
|
|
At |
|
At |
|
March 31, 2017 |
|
December 31, 2016 |
|
|
|
|
Term Loan Agreements |
$ |
8,777,918 |
|
|
$ |
9,485,000 |
|
Equipment Financing Agreements |
1,340,675 |
|
|
1,421,033 |
|
American Express Loan |
907,409 |
|
|
— |
|
Promissory notes, net |
6,250,000 |
|
|
6,250,000 |
|
|
17,276,002 |
|
|
17,156,033 |
|
Less: Current portion of Long Term Debt |
4,057,042 |
|
|
3,153,666 |
|
Discount on warrants, net |
789,250 |
|
|
834,500 |
|
Long Term Debt, net of Current Portion |
$ |
12,429,710 |
|
|
$ |
13,167,867 |
|
|
|
|
|
Future minimum loan payments: |
|
|
|
2017 |
3,274,174 |
|
|
|
2018 |
3,170,310 |
|
|
|
2019 |
3,187,808 |
|
|
|
2020 |
1,280,594 |
|
|
|
2021 |
113,116 |
|
|
|
Thereafter |
6,250,000 |
|
|
|
Total |
$ |
17,276,002 |
|
|
|
|
| Schedule of Maturities of Long-term Debt |
Long term debt consisted of the following:
|
|
|
|
|
|
|
|
|
|
At |
|
At |
|
March 31, 2017 |
|
December 31, 2016 |
|
|
|
|
Term Loan Agreements |
$ |
8,777,918 |
|
|
$ |
9,485,000 |
|
Equipment Financing Agreements |
1,340,675 |
|
|
1,421,033 |
|
American Express Loan |
907,409 |
|
|
— |
|
Promissory notes, net |
6,250,000 |
|
|
6,250,000 |
|
|
17,276,002 |
|
|
17,156,033 |
|
Less: Current portion of Long Term Debt |
4,057,042 |
|
|
3,153,666 |
|
Discount on warrants, net |
789,250 |
|
|
834,500 |
|
Long Term Debt, net of Current Portion |
$ |
12,429,710 |
|
|
$ |
13,167,867 |
|
|
|
|
|
Future minimum loan payments: |
|
|
|
2017 |
3,274,174 |
|
|
|
2018 |
3,170,310 |
|
|
|
2019 |
3,187,808 |
|
|
|
2020 |
1,280,594 |
|
|
|
2021 |
113,116 |
|
|
|
Thereafter |
6,250,000 |
|
|
|
Total |
$ |
17,276,002 |
|
|
|
|