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Long-Term Debt and Capital Lease Obligations (Tables)
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Summary of Long Term Debt

At December 31, 2013 and December 31, 2012, total long-term debt outstanding consisted of the following:

 

     As of December 31,  
     2013     2012  

Senior secured convertible notes payable to a related party, 9% interest due monthly in arrears, converted July 16, 2013 (Net of discount of nil and $1,313,897 as of December 31, 2013 and 2012, respectively)

      —          686,103   

Secured convertible notes payable to related parties, 7% interest due monthly in arrears, due July 2016, repayment provisions discussed further below (Net of discount of $4,656,934 and nil as of December 31, 2013 and 2012, respectively)

      17,343,066        —     

Capital lease obligations, imputed interest at 4.75 to 46.0%, with monthly payments of $1,507 and $8,540, through November 2016 and December 2013, secured by computer equipment and office furniture, respectively

      49,163        72,128   
  

 

 

    

 

 

  

Total

      17,392,229        758,231   

Less: current maturities

      (16,096 )      (72,128 ) 
  

 

 

    

 

 

  

Long-term portion

    $ 17,376,133      $ 686,103   
  

 

 

    

 

 

  
Summary of Future Maturities of Long Term Debt and Capital Lease Obligations

The following table summarizes future maturities of debt and capital lease obligations, as amended, as of December 31, 2013:

 

Year Ending December 31,

    Amount  

2014

    $ 16,096   

2015

      16,877   

2016

      22,016,190   
  

 

 

  

Subtotal (assuming repayment in cash)

      22,049,163   

Less discount on Convertible Note

      (4,656,934 ) 

Less current maturities

      (16,096 ) 
  

 

 

  

Total

    $ 17,376,133