| Schedule of Long-term Debt |
Long-term debt consisted of the following at September 30, 2018 and December 31, 2017:
|
|
|
2018
|
|
|
2017
|
|
|
Nevada State Bank Term Loan and Revolver
|
|
$
|
10,361,600
|
|
|
$
|
—
|
|
|
Breakaway Term Loan
|
|
|
—
|
|
|
|
9,450,000
|
|
|
Equipment notes payable
|
|
|
94,977
|
|
|
|
124,311
|
|
|
Insurance notes payable
|
|
|
—
|
|
|
|
73,734
|
|
|
Notes payable, gross
|
|
|
10,456,577
|
|
|
|
9,648,045
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(101,983
|
)
|
|
|
(480,397
|
)
|
|
Warrants issued
|
|
|
—
|
|
|
|
(584,261
|
)
|
|
Notes payable, net
|
|
|
10,354,594
|
|
|
|
8,583,387
|
|
|
Less: Current portion
|
|
|
(1,360,823
|
)
|
|
|
(1,163,002
|
)
|
|
Long-term debt, net
|
|
$
|
8,993,771
|
|
|
$
|
7,420,385
|
|
|
| Schedule of Future Maturities |
As of September 30, 2018, future maturities of our long-term debt obligations are as follows:
|
Twelve months Ending September
|
|
Total
|
|
|
2019
|
|
$
|
1,360,823
|
|
|
2020
|
|
|
1,437,950
|
|
|
2021
|
|
|
1,530,149
|
|
|
2022
|
|
|
1,616,655
|
|
|
Thereafter
|
|
|
4,511,000
|
|
|
Total notes payable
|
|
|
10,456,577
|
|
|
Less:
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(101,983
|
)
|
|
Notes payable, net
|
|
$
|
10,354,594
|
|
|