Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE (Tables)

v2.4.1.9
NOTES PAYABLE (Tables)
 3 Months Ended
Mar. 31, 2015
Debt Disclosure [Abstract]  
Schedule of Notes Payable

Notes payable consisted of the following at:

 

 

 

March 31,

2015

 

 

December 31,

2014

 

Notes payable, net of debt discount - PTG

 

$

13,319,934

 

 

$

14,385,643

 

Note payable – related party

 

 

1,057,245

 

 

 

1,065,324

 

Vehicles, notes payable

 

 

82,506

 

 

 

86,364

 

 

 

 

14,459,685

 

 

 

15,537,331

 

Less: Current portion

 

 

(3,578,394

)

 

 

(3,480,864

)

Total long-term debt

 

$

10,881,291

 

 

$

12,056,467

 

 
Schedule of Maturities

Maturities of our notes payable are as follows:

 

Maturities as of

March 31,

 

Total

 

2015

 

$

3,578,394

 

2016

 

 

5,153,536

 

2017

 

 

4,369,562

 

2018

 

 

2,143,696

 

2019

 

 

14,285

 

Total notes payable

 

$

15,259,473

 

Less: debt discount

 

 

(799,788

)

Notes payable, net of debt discount

 

$

14,459,685