Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT (Tables)

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

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

 

 

 

2018

 

 

2017

 

Nevada State Bank Term Loan and Revolver

 

$

10,361,600

 

 

$

 

Breakaway Term Loan

 

 

 

 

 

9,450,000

 

Equipment notes payable

 

 

94,977

 

 

 

124,311

 

Insurance notes payable

 

 

 

 

 

73,734

 

     Notes payable, gross

 

 

10,456,577

 

 

 

9,648,045

 

Less:

 

 

 

 

 

 

 

 

     Unamortized debt issuance costs

 

 

(101,983

)

 

 

(480,397

)

     Warrants issued

 

 

 

 

 

(584,261

)

     Notes payable, net

 

 

10,354,594

 

 

 

8,583,387

 

Less: Current portion

 

 

(1,360,823

)

 

 

(1,163,002

)

     Long-term debt, net

 

$

8,993,771

 

 

$

7,420,385

 

 

Schedule of Future Maturities

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

 

Twelve months Ending September

 

Total

 

2019

 

$

1,360,823

 

2020

 

 

1,437,950

 

2021

 

 

1,530,149

 

2022

 

 

1,616,655

 

Thereafter

 

 

4,511,000

 

Total notes payable

 

 

10,456,577

 

Less:

 

 

 

 

Unamortized debt issuance costs

 

 

(101,983

)

Notes payable, net

 

$

10,354,594