Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT (Tables)

v3.10.0.1
LONG-TERM DEBT (Tables)
6 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Long-term Debt

Long-term debt consisted of the following at June 30, 2018 and December 31, 2017:

 

 

 

2018

 

 

2017

 

Nevada State Bank Term Loan and revolver

 

$

10,779,786

 

 

$

 

Breakaway Term Loan

 

 

 

 

 

9,450,000

 

Equipment notes payable

 

 

104,834

 

 

 

124,311

 

Insurance notes payable

 

 

18,583

 

 

 

73,734

 

     Notes payable, gross

 

 

10,903,203

 

 

 

9,648,045

 

Less:

 

 

 

 

 

 

 

 

     Unamortized debt issuance costs

 

 

(109,560

)

 

 

(480,397

)

     Warrants issued

 

 

 

 

 

(584,261

)

     Notes payable, net

 

 

10,793,643

 

 

 

8,583,387

 

Less: Current portion

 

 

(1,456,171

)

 

 

(1,163,002

)

     Long-term debt, net

 

$

9,337,472

 

 

$

7,420,385

 

 

Schedule of Future Maturities

As of June 30, 2018, future maturities of our long-term debt obligations are as follows:    

 

Twelve months Ending June 30 ,

 

Total

 

2019

 

$

1,456,171

 

2020

 

 

1,419,207

 

2021

 

 

1,505,143

 

2022

 

 

1,595,582

 

Thereafter

 

 

4,927,100

 

Total notes payable

 

 

10,903,203

 

Less:

 

 

 

 

Unamortized debt issuance costs

 

 

(109,560

)

Notes payable, net

 

$

10,793,643