Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE (Tables)

v3.4.0.3
NOTES PAYABLE (Tables)
 3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Schedule of Notes Payable

Notes payable consisted of the following at:

 

 

 

March 31,

2016

 

 

December 31,

2015

 

Notes payable, net of debt discount - PTG

 

$

10,261,236

 

 

$

10,934,544

 

Note payable – related party, Carpathia Associates

 

 

562,071

 

 

 

579,083

 

Note payable – related party, Robert Saucier

 

 

500,000

 

 

 

500,000

 

Vehicles, notes payable

 

 

66,624

 

 

 

70,664

 

 

 

 

11,389,931

 

 

 

12,084,291

 

Less: Current portion

 

 

(4,565,293

)

 

 

(4,648,120

)

Total long-term debt

 

$

6,824,638

 

 

$

7,436,171

 

 
Schedule of Maturities

Maturities of our notes payable are as follows:

 

Maturities as of

March 31,

 

Total

 

2017

 

 

4,565,293

 

2018

 

 

4,478,099

 

2019

 

 

2,923,408

 

2020

 

 

14,287

 

Total notes payable

 

$

11,981,087

 

Less: debt discount

 

 

(591,156

)

Notes payable, net of debt discount

 

$

11,389,931