XML 69 R46.htm IDEA: XBRL DOCUMENT
v3.19.2

DEBT (Details Narrative) |  | 3 Months Ended | 6 Months Ended |  |
--- | --- | --- | --- | --- | ---
May 01, 2018 USD ($) | Jun. 30, 2019 USD ($) | Jun. 30, 2019 USD ($) | Jun. 30, 2018 USD ($) | Apr. 24, 2019 USD ($) | Dec. 31, 2018 USD ($)
Amortization of deferred financing fees |  | $ 196,734 | $ 196,734 |  |  |
Deferred financing fees |  | 6,652,270 | 6,652,270 |  |  |
Interest Expense, Borrowings |  | $ 3,985,000 | 3,985,000 |  |  |
Amortization of debt issuance costs |  |  | $ 316,880 | $ 30,155 |  |
Repayment fee (percent) |  | 4.00% |  |  |  |
Prepayment fee (percent) |  | 4.00% |  |  |  |
Effective interest rate |  | 11.00% | 11.00% |  |  |
Repayment of debt with new credit facility |  | $ 81,661,000 |  |  |  |
Line of Credit [Member] |  |  |  |  |  |
Borrowings outstanding |  | 200,000,000 | $ 200,000,000 |  |  |
Long-term Debt |  | 200,000,000 | 200,000,000 |  |  |
Unsecured Debt [Member] |  |  |  |  |  |
Amortization of deferred financing fees |  |  | 120,146 |  |  |
Borrowings outstanding |  |  |  |  |  | $ 75,000,000
Interest Expense, Borrowings |  |  | 1,816,747 |  |  |
Tranche 1 [Member] |  |  |  |  |  |
Deferred financing fees |  | 6,101,513 | 6,101,513 |  |  |
Term Loan [Member] |  |  |  |  |  |
Borrowings outstanding |  | 200,000,000 | 200,000,000 |  |  |
Borrowing capacity under loan facility | $ 200,000,000 |  |  |  |  |
Description of Interest Rate | ne-month LIBOR (subject to a LIBOR floor of1.50%) plus (ii)7.75% per annum |  |  |  |  |
Basis spread of loan | 7.75% |  |  |  |  |
LIBOR floor | 1.50% |  |  |  |  |
Financing Agreement [Member] |  |  |  |  |  |
Revenues |  | 11,000,000 |  |  |  |
Minimum cash balance requirement under credit agreement |  | $ 50,000,000 | $ 50,000,000 |  |  |
Description of Interest Rate |  | 3-month LIBOR plus7.75% |  |  |  |
Basis spread of loan |  | 7.75% |  |  |  |
LIBOR floor rate |  | 2.70% | 2.70% |  |  |
Facility fee paid (percent) |  | 2.50% |  |  |  |
Financing Agreement [Member] | Tranche 3 [Member] |  |  |  |  |  |
Line of Credit Facility, Current Borrowing Capacity |  | $ 50,000,000 | $ 50,000,000 |  |  |
Financing Agreement [Member] | Tranche 2 [Member] |  |  |  |  |  |
Line of Credit Facility, Current Borrowing Capacity |  | $ 50,000,000 | $ 50,000,000 |  |  |
Financing Agreement [Member] | Subsequent Event [Member] | TSPP Facility [Member] |  |  |  |  |  |
Borrowing capacity under loan facility |  |  |  |  | $ 300,000,000 |
Number of tranches under term loan facility |  |  |  |  | 3 |
Rate [Member] | Financing Agreement [Member] |  |  |  |  |  |
Prime rate floor |  | 5.20% | 5.20% |  |  |
Description of Interest Rate |  | the prime rate plus6.75 |  |  |  |
Basis spread of loan |  | 6.75% |  |  |  |
First Two Years [Member] | Financing Agreement [Member] |  |  |  |  |  |
Prepayment percent of debt |  | 30.00% | 30.00% |  |  |
Year Three [Member] | Financing Agreement [Member] |  |  |  |  |  |
Prepayment percent of debt |  | 5.00% | 5.00% |  |  |
Year Four [Member] | Financing Agreement [Member] |  |  |  |  |  |
Prepayment percent of debt |  | 3.00% | 3.00% |  |  |
Year Five [Member] | Financing Agreement [Member] |  |  |  |  |  |
Prepayment percent of debt |  | 1.00% | 1.00% |  |  |
Maximum [Member] | Financing Agreement [Member] |  |  |  |  |  |
Minimum cash balance requirement under credit agreement |  | $ 60,000,000 | $ 60,000,000 |  |  |

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- Definition The facility fee expressed as a percentage paid or payable to the Agent for the benefit of lenders, under the terms of Credit Agreement. + References No definition available. + Details
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- Definition The minimum cash balance the Borrower must maintain under the credit and secuirty agreement. + References No definition available. + Details
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- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. + References No definition available. + Details
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- Definition Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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