| Schedule of Long-term Debt |
Long-term debt consisted of the following at:
|
|
|
September 30,
2016
|
|
|
December 31,
2015
|
|
|
Term loan
|
|
$
|
10,500,000
|
|
|
$
|
—
|
|
|
Note payable, unrelated party
|
|
|
—
|
|
|
|
11,577,858
|
|
|
Notes payable, related party
|
|
|
527,102
|
|
|
|
1,079,083
|
|
|
Equipment notes payable
|
|
|
58,402
|
|
|
|
70,664
|
|
|
|
|
|
11,085,504
|
|
|
|
12,727,605
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(369,236
|
)
|
|
|
—
|
|
|
Warrants issued
|
|
|
(809,632
|
)
|
|
|
—
|
|
|
Debt discount
|
|
|
—
|
|
|
|
(643,314
|
)
|
|
|
|
|
9,906,636
|
|
|
|
12,084,291
|
|
|
Less: Current portion
|
|
|
(878,401
|
)
|
|
|
(4,648,120
|
)
|
|
|
|
$
|
9,028,235
|
|
|
$
|
7,436,171
|
|
|
| Schedule of Maturities |
As of September 30, 2016, maturities of our long-term debt obligations are as follows:
|
Twelve months ending
September 30,
|
|
Total
|
|
|
2017
|
|
$
|
878,401
|
|
|
2018
|
|
|
1,147,294
|
|
|
2019
|
|
|
1,442,486
|
|
|
2020
|
|
|
1,054,823
|
|
|
2021
|
|
|
6,562,500
|
|
|
Total notes payable
|
|
|
11,085,504
|
|
|
Less:
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(369,236
|
)
|
|
Warrants issued
|
|
|
(809,632
|
)
|
|
Notes payable, net
|
|
$
|
9,906,636
|
|
|