Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.19.1
LONG-TERM DEBT (Tables)
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Long-term Debt

Long-term debt consisted of the following at December 31, 2018 and 2017:

 

 

 

2018

 

 

2017

 

Nevada State Bank Term Loan and Revolver

 

$

10,042,400

 

 

$

 

Breakaway Term Loan

 

 

 

 

 

9,450,000

 

Equipment notes payable

 

 

85,043

 

 

 

124,311

 

Insurance notes payable

 

 

73,794

 

 

 

73,734

 

Long-term debt, gross

 

 

10,201,237

 

 

 

9,648,045

 

Less:

 

 

 

 

 

 

 

 

Unamortized debt issuance costs

 

 

(94,562

)

 

 

(480,397

)

Warrants issued

 

 

 

 

 

(584,261

)

Long-term debt, net

 

 

10,106,675

 

 

 

8,583,387

 

Less: Current portion

 

 

(1,456,847

)

 

 

(1,163,002

)

Long-term debt, net

 

$

8,649,828

 

 

$

7,420,385

 

 

Schedule of Maturities

As of December 31, 2018, maturities of our long-term debt obligations are as follows:

 

December 31,

 

Total

 

2019

 

$

1,456,847

 

2020

 

 

1,456,633

 

2121

 

 

1,555,157

 

2022

 

 

1,637,700

 

2023

 

 

4,094,900

 

Total long-term debt

 

 

10,201,237

 

Less:

 

 

 

 

Unamortized debt issuance costs

 

 

(94,562

)

Long-term debt, net

 

$

10,106,675