| Schedule of Long-term Debt |
Long-term debt consisted of the following at March 31, 2017 and December 31, 2016:
|
|
|
2017
|
|
|
2016
|
|
|
Term loan
|
|
$
|
10,237,500
|
|
|
$
|
10,500,000
|
|
|
Notes payable, related party
|
|
|
490,838
|
|
|
|
509,135
|
|
|
Equipment notes payable
|
|
|
152,955
|
|
|
|
162,274
|
|
|
Insurance notes payable
|
|
|
22,616
|
|
|
|
36,063
|
|
|
Notes payable -gross
|
|
|
10,903,909
|
|
|
|
11,207,472
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(578,660
|
)
|
|
|
(595,462
|
)
|
|
Warrants issued
|
|
|
(703,768
|
)
|
|
|
(743,604
|
)
|
|
Notes payable - net
|
|
|
9,621,481
|
|
|
|
9,868,406
|
|
|
Less: Current portion
|
|
|
(1,187,570
|
)
|
|
|
(1,199,255
|
)
|
|
Long-term debt, net
|
|
$
|
8,433,911
|
|
|
$
|
8,669,151
|
|
|
| Schedule of Maturities |
As of March 31, 2017, maturities of our long-term debt obligations are as follows:
|
Maturities as of
March 31,
|
|
Total
|
|
|
2018
|
|
$
|
1,187,570
|
|
|
2019
|
|
|
1,503,811
|
|
|
2020
|
|
|
1,086,007
|
|
|
2021
|
|
|
1,072,138
|
|
|
2022
|
|
|
6,054,383
|
|
|
Total notes payable
|
|
|
10,903,909
|
|
|
Less:
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(578,660
|
)
|
|
Warrants issued
|
|
|
(703,768
|
)
|
|
Notes payable, net
|
|
$
|
9,621,481
|
|
|