| Schedule of Long-term Debt |
Long-term debt consisted of the following at March 31, 2018 and December 31, 2017:
|
|
|
2018
|
|
|
2017
|
|
|
Breakaway Term Loan
|
|
$
|
9,187,500
|
|
|
$
|
9,450,000
|
|
|
Equipment notes payable
|
|
|
111,361
|
|
|
|
124,311
|
|
|
Insurance notes payable
|
|
|
46,294
|
|
|
|
73,734
|
|
|
Notes payable, gross
|
|
|
9,345,155
|
|
|
|
9,648,045
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(447,643
|
)
|
|
|
(480,397
|
)
|
|
Warrants issued
|
|
|
(544,425
|
)
|
|
|
(584,261
|
)
|
|
Notes payable, net
|
|
|
8,353,087
|
|
|
|
8,583,387
|
|
|
Less: Current portion
|
|
|
(1,135,983
|
)
|
|
|
(1,163,002
|
)
|
|
Long-term debt, net
|
|
$
|
7,217,104
|
|
|
$
|
7,420,385
|
|
|
| Schedule of Future Maturities |
As of March 31, 2018, future maturities of our long-term debt obligations are as follows, without giving effect to the NSB Credit Agreement:
|
Twelve Months ending March 31,
|
|
Total
|
|
|
2019
|
|
$
|
1,135,983
|
|
|
2020
|
|
|
1,084,480
|
|
|
2021
|
|
|
1,070,309
|
|
|
2022
|
|
|
6,054,383
|
|
|
Total notes payable
|
|
|
9,345,155
|
|
|
Less:
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(447,643
|
)
|
|
Warrants issued
|
|
|
(544,425
|
)
|
|
Notes payable, net
|
|
$
|
8,353,087
|
|
|