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Long Term Debt and Other Term Obligations | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Long Term Debt and Other Term Obligations | Long term debt and other obligations consisted of the following as of the periods presented below:
|  | DECEMBER 31, 2018 |  |  | DECEMBER 31, 2017 |
|  | Current |  |  | Non-Current |  |  |  |  |  | Current |  |  | Non-Current |  |  |  |
|  | Portion |  |  | Portion |  |  | Total |  |  | Portion |  |  | Portion |  |  | Total |
Capital Lease Obligations (1) |  | $ | 107,325 |  |  | $ | 122,040 |  |  | $ | 229,365 |  |  | $ | 101,591 |  |  | $ | 232,109 |  |  | $ | 333,700 |
Deferred Rent Liability (2) |  |  | 46,332 |  |  |  | 73,952 |  |  |  | 120,284 |  |  |  | 70,021 |  |  |  | 78,336 |  |  |  | 148,357 |
Short term installment borrowings (3) |  |  | 145,931 |  |  |  | - |  |  |  | 145,931 |  |  |  | 133,250 |  |  |  | - |  |  |  | 133,250 |
Total Other Term Obligations |  | $ | 192,263 |  |  | $ | 73,952 |  |  | $ | 266,215 |  |  | $ | 203,271 |  |  | $ | 78,336 |  |  | $ | 281,607 |
Total Capital Leases and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term Obligations |  | $ | 299,588 |  |  | $ | 195,992 |  |  |  |  |  |  | $ | 304,862 |  |  | $ | 310,445 |  |  |  |  |
(1) As more fully described in Note 8, the Company entered into capital leases to acquire computer hardware and software for its customer facing infrastructure and two new automobiles that expire between 2020 and 2021. (2) The Company has two significant long term building lease obligations that contain fixed rent escalations and rent abatements. The Company has recognized a deferred rent liability related to the difference between actual cash rent paid and rent recognized for financial reporting purposes. (3) The Company annually finances the cost of its commercial liability insurance premiums for a period of less than 12 months. During the years ended December 31, 2018 and 2017, the Company financed approximately $195,200 and $191,400, respectively. Future repayments on long-term and other obligations are as follows for fiscal years ending December 31:
|  | Capital |  |  | Other Term |  |  |  |
|  | Leases |  |  | Obligations |  |  | Total |
2019 |  | $ | 107,325 |  |  | $ | 192,263 |  |  | $ | 299,588 |
2020 |  |  | 116,208 |  |  |  | 10,224 |  |  |  | 126,432 |
2021 |  |  | 5,832 |  |  |  | 1,251 |  |  |  | 7,083 |
2022 |  |  | - |  |  |  | 5,566 |  |  |  | 5,566 |
2023 |  |  | - |  |  |  | 9,880 |  |  |  | 9,880 |
Thereafter |  |  | - |  |  |  | 47,031 |  |  |  | 47,031 |
|  | $ | 229,365 |  |  | $ | 266,215 |  |  | $ | 495,580 |
The following sets forth the Company’s future minimum payment obligations under capital lease agreements for fiscal years ending December 31:
2019 |  | $ | 121,421 |
2020 |  |  | 121,421 |
2021 |  |  | 6,042 |
Total principal and interest payments |  |  | 248,884 |
Less: portion representing interest |  |  | 19,519 |
Present value of minimum lease payments |  |  |  |
under capital leases |  |  | 229,365 |
Less: current portion |  |  | 107,325 |
Capital leases, net of current portion |  | $ | 122,040 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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