| Schedule of long-term debt |
| |
| |
March 31,
2018 | | |
December 31,
2017 | |
| |
Senior Secured Notes, due June 30, 2018 (discount is based on imputed interest rate of 26%) | |
$ | 5,750,000 | | |
$ | 5,750,000 | |
| |
Less: unamortized discount and debt issuance costs on Senior Secured Notes | |
| (493,750 | ) | |
| (987,500 | ) |
| |
Net Senior Secured Notes | |
| 5,256,250 | | |
| 4,762,500 | |
| |
Secured mortgage payable to Bank for the purchase of the 100 Commerce Drive Building due in monthly installments of $11,951. | |
| 1,732,354 | | |
| 1,741,378 | |
| |
Note payable, former building owner interest payment only due in monthly installments of $1,604 interest at 5.5%. A balloon payment of $350,000 plus unpaid interest due August 2018. | |
| 350,000 | | |
| 350,000 | |
| |
| |
| | | |
| | |
| |
| |
| 7,338,604 | | |
| 6,853,878 | |
| |
Less current portion | |
| 5,637,996 | | |
| 5,143,997 | |
| |
Long term debt | |
$ | 1,700,608 | | |
$ | 1,709,881 | |
|