|
LONG-TERM DEBT (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Notes to Financial Statements |
|
| Schedule of Notes Payable |
|
2013 |
|
2012 |
| Note
payable – related party |
$ |
1,095,181 |
|
|
$ |
1,122,915 |
|
| Notes
payable – PTG, net of debt discount |
|
17,480,676 |
|
|
|
19,488,879 |
|
| |
|
18,575,857 |
|
|
|
20,611,794 |
|
| Less:
current portion |
|
(2,929,918 |
) |
|
|
(2,360,930 |
) |
| Total
long-term debt |
$ |
15,645,939 |
|
|
$ |
18,250,864 |
|
|
| Schedule of Payment Amounts |
| |
|
Monthly
Payment Amounts |
|
|
| Payment
Year |
|
Prime
Table Games, LLC (in USD) |
|
Prime
Table Games UK (in GBP) |
|
Interest Rate |
| |
2012 |
|
|
$ |
100,000 |
|
|
£ |
64,000 |
|
|
|
3 |
% |
| |
2013 |
|
|
|
130,000 |
|
|
|
76,800 |
|
|
|
4 |
% |
| |
2014 |
|
|
|
160,000 |
|
|
|
89,600 |
|
|
|
5 |
% |
| |
2015 |
|
|
|
190,000 |
|
|
|
102,400 |
|
|
|
6 |
% |
| |
2016 |
|
|
|
220,000 |
|
|
|
115,200 |
|
|
|
7 |
% |
| |
2017 |
|
|
|
220,000 |
|
|
|
115,200 |
|
|
|
8 |
% |
| |
2018 |
|
|
|
220,000 |
|
|
|
115,200 |
|
|
|
9 |
% |
|
| Schedule of Maturities |
| Maturities
as of: |
|
Total |
| |
2014 |
|
|
$ |
2,929,918 |
|
| |
2015 |
|
|
|
3,562,771 |
|
| |
2016 |
|
|
|
4,297,758 |
|
| |
2017 |
|
|
|
5,489,776 |
|
| |
2018 |
|
|
|
3,356,212 |
|
| |
Total long term debt |
|
|
$ |
19,636,435 |
|
| |
Less:
debt discount |
|
|
|
(1,060,578 |
) |
| |
Long-term
debt, net of debt discount |
|
|
$ |
18,575,857 |
|
|