| Schedule of Debt |
The long term debt at December 31, 2016
is recorded at its accredited value and consists of the following:
| Face amount of the loans |
|
$ |
7,333,334 |
|
| Unamortized debt issuance costs |
|
|
(448,159 |
) |
| Unamortized discount on loan fees |
|
|
(68,860 |
) |
| Unamortized discount of amount allocated to warrants |
|
|
(115,980 |
) |
| Balance at December 31, 2016 |
|
$ |
6,700,335 |
|
|
| Schedule of Maturities of Long-term Debt |
Maturities of the outstanding notes
payable, the term loans and other obligations as of December 31, 2016 are as follows:
| Years ending December 31 |
|
|
Vehicle Financing Notes |
|
|
Opus Term Loans |
|
|
Insurance Financing |
|
|
Prudential Payable |
|
|
Total |
|
| 2017 |
|
|
$ |
75,520 |
|
|
$ |
2,666,667 |
|
|
$ |
105,939 |
|
|
$ |
5,000,000 |
|
|
$ |
7,848,126 |
|
| 2018 |
|
|
|
66,214 |
|
|
|
2,666,667 |
|
|
|
- |
|
|
|
- |
|
|
|
2,732,881 |
|
| 2019 |
|
|
|
46,152 |
|
|
|
2,000,000 |
|
|
|
- |
|
|
|
- |
|
|
|
2,046,152 |
|
| 2020 |
|
|
|
35,529 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
35,529 |
|
| 2021 |
|
|
|
13,628 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
13,628 |
|
| Thereafter |
|
|
|
4,661 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
4,661 |
|
| Total |
|
|
$ |
241,704 |
|
|
$ |
7,333,334 |
|
|
$ |
105,939 |
|
|
$ |
5,000,000 |
|
|
$ |
12,680,977 |
|
|