| Schedule of Long-term Debt |
Long-term debt consisted of the following at June 30, 2017 and December 31, 2016:
|
|
|
2017
|
|
|
2016
|
|
|
Term loan
|
|
$
|
9,975,000
|
|
|
$
|
10,500,000
|
|
|
Notes payable, related party
|
|
|
472,206
|
|
|
|
509,135
|
|
|
Equipment notes payable
|
|
|
143,482
|
|
|
|
162,274
|
|
|
Insurance notes payable
|
|
|
9,077
|
|
|
|
36,063
|
|
|
Notes payable, gross
|
|
|
10,599,765
|
|
|
|
11,207,472
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(545,907
|
)
|
|
|
(595,462
|
)
|
|
Unamortized contra debt associated with the Warrants issued
|
|
|
(663,932
|
)
|
|
|
(743,604
|
)
|
|
Notes payable, net
|
|
|
9,389,926
|
|
|
|
9,868,406
|
|
|
Less: Current portion
|
|
|
(1,175,743
|
)
|
|
|
(1,199,255
|
)
|
|
Long-term debt, net
|
|
$
|
8,214,183
|
|
|
$
|
8,669,151
|
|
|
| Schedule of Maturities |
As of June 30, 2017, maturities of our long-term debt obligations are as follows:
|
June 30,
|
|
Total
|
|
|
2018
|
|
$
|
1,175,743
|
|
|
2019
|
|
|
1,484,089
|
|
|
2020
|
|
|
1,081,407
|
|
|
2021
|
|
|
1,072,243
|
|
|
2022
|
|
|
5,786,283
|
|
|
Total notes payable
|
|
|
10,599,765
|
|
|
Less:
|
|
|
|
|
|
Unamortized debt issuance costs
|
|
|
(545,907
|
)
|
|
Unamortized contra debt associated with the Warrants issued
|
|
|
(663,932
|
)
|
|
Notes payable, net
|
|
$
|
9,389,926
|
|
|