v2.4.0.8

Notes Payable (Tables)

6 Months Ended

Jun. 30, 2014

Notes Payable [Abstract]

Schedule of Notes Payable

														Contribution
														and
		December 31,				Participation				Reverse				Assumption																June 30,
		2013				Agreement				Merger				Agreement				Issuances				Accretion				Payments				2014
Current notes payable related party
16% Promissory Note- related party		$	-			$	3,016,228			$	-			$	-			$	-			$	-			$	-			$	3,016,228
Current notes payable - third party
14% Senior Secured Promissory Note			-				-				-				-				10,180,000				-				-				10,180,000
Less: discount on Senior Secured Promissory Note			-				-				-				-				(3,800,847	)			729,080				-				(3,071,767	)
1.5% Secured Promissory Note			-				8,620,000				-				-				-				-				-				8,620,000
18% Promissory Note			-				1,100,000				-				-				-				-				-				1,100,000
18% Promissory Note			-				445,040				-				-				-				-				-				445,040
3.68% to 8.39% Premium financing agreements			-				-				18,426				-				138,139				-				(45,321	)			111,244
0% Promissory note			-				-				-				-				102,500				-				-				102,500
0% Promissory note			-				-				102,060				-				-				-				-				102,060
10% Promissory note			-				-				100,000				-				-				-				-				100,000
0% Promissory note			-				-				10,000				-				-				-				-				10,000
Total third party current notes payable			-				10,165,040				230,486				-				6,619,792				729,080				(45,321	)			17,699,077
Total current notes payable			-				13,181,268				230,486				-				6,619,792				729,080				(45,321	)			20,715,305
Non current notes payable - related party
6% Senior Secured Debenture - related party			-				-				-				11,000,000				211,562				-				-				11,211,562
Non current notes payable - third party
0% contingent promissory note			-				3,770,000				-				-				-				-				-				3,770,000
Less: discount on Contingent Promissory Note			-				(1,847,628	)			-				-				-				118,178				-				(1,729,450	)
0% Promissory note			-				-				25,443				-				-				-				-				25,443
0% Promissory note			-				-				10,000				-				-				-				-				10,000
Total non current third party notes payable			-				1,922,372				35,443				-				-				118,178				-				2,075,993
Total non current notes payable			-				1,922,372				35,443				11,000,000				211,562				118,178				-				13,287,555
Total notes payable		$	-			$	15,103,640			$	265,929			$	11,000,000			$	6,831,354			$	847,258			$	(45,321	)		$	34,002,860

Schedule of Future Payments

The following is a consolidated schedule of the future payments required under notes payable.

2015		$	23,787,072
2016			11,247,005
2017			-
2018			3,770,000
Thereafter			-
		$	38,804,077

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

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- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 470

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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