Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

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Debt (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule of Debt

The term loans at June 30, 2017 are recorded at their accredited value and consist of the following:

 

Face amount of the loans   $ 3,193,627  
Unamortized debt issuance costs     (391,174 )
Unamortized discount on loan fees     (54,739 )
Unamortized discount of amount allocated to warrants     (92,217 )
Balance at June 30, 2017   $ 2,655,497

Schedule of Maturities of Long-term Debt

Maturities of the outstanding notes payable, the term loans and other obligations as of June 30, 2017 are as follows:

 

Years ending
December 31
    Vehicle
Financing
Notes
    Opus Term
Loans
    Prudential
Payable
    Total  
2017 (six months)     $ 39,502     $ 1,333,333     $ 5,000,000     $ 6,372,835  
2018       69,967       1,860,294       -       1,930,261  
2019       50,281       -       -       50,281  
2020       39,966       -       -       39,966  
2021       18,385       -       -       18,385  
Thereafter       12,437       -       -       12,437  
Total     $ 230,538     $ 3,193,627     $ 5,000,000     $ 8,424,165