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Debt Issuance Costs

12 Months Ended

Dec. 31, 2015

Debt Issuance Costs [Abstract]

Debt Issuance Costs

8. Debt Issuance Costs

Debt issuance costs consisted of the following at December 31, 2015 and 2014:

		2015				2014
Financial advisor fee		$	108,000			$	108,000
Legal fees			56,229				56,229
Fair value of warrants issued (as disclosed in Note 15 )			11,024				11,024
			175,253				175,253
Less: accumulated amortization			(170,049	)			(149,234	)
		$	5,204			$	26,019

Amortization expense of debt issuance costs for the years ended December 31, 2015 and 2014 amounted to $20,815 and $59,574, respectively, and is included in interest expense on the accompanying consolidated statements of operations. Future estimated amortization expense of deferred loan costs for the year ending December 31, 2016 is $5,204.

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