Note 5 – Long-Term Debt

Long-term debt consists primarily of six notes with financing companies collateralized by the Gamma Knife equipment having an aggregate net book value of $14,684,000, the individual customer contracts and related accounts receivable at December 31, 2016. In addition, the loan to finance the Company’s unit in Peru is guaranteed by GKF and collateralized by the Company’s stock in the subsidiary, IGKP. These notes are payable in 12 to 84 fully amortizing monthly installments, mature between June 2018 and November 2021, and are collateralized by the respective Gamma Knife units. The notes accrue interest at fixed annual rates between 3.95% and 7.48%.

The following are contractual maturities of long-term debt by year at December 31, 2016:

Year ending December 31,	Principal		Interest
2017	$	2,205,000	$	378,000
2018		2,146,000		247,000
2019		1,536,000		138,000
2020		963,000		61,000
2021		461,000		14,000
Thereafter		-		-

	$	7,311,000	$	838,000