|
NOTES PAYABLE AND UNSECURED CONVERTIBLE DEBENTURES (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Notes Payable And Unsecured Convertible Debentures Tables |
|
| Schedule of Notes Payable and Unsecured convertible debentures |
The
table below summarizes the Company’s notes payable and unsecured convertible debentures as of December 31, 2013:
| |
|
Related
Party |
|
|
Unrelated |
|
|
Total |
|
| |
|
|
|
|
|
|
|
|
|
| Secured debt |
|
$ |
- |
|
|
$ |
3,804,111 |
|
|
$ |
3,804,111 |
|
| Revolving credit facilities |
|
|
477,000 |
|
|
|
- |
|
|
|
477,000 |
|
| Other notes and debt |
|
|
- |
|
|
|
52,408 |
|
|
|
52,408 |
|
| Total notes payable |
|
$ |
477,000 |
|
|
$ |
3,856,519 |
|
|
$ |
4,333,519 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Unsecured convertible |
|
|
|
|
|
|
|
|
|
|
|
|
| debentures, net of discount |
|
$ |
- |
|
|
$ |
1,500,000 |
|
|
$ |
1,500,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total debt |
|
$ |
477,000 |
|
|
$ |
5,356,519 |
|
|
$ |
5,833,519 |
|
|
| Schedule of debt maturities |
Maturities
of debt at December 31, 2013 are as follows:
| |
|
Secured Debt |
|
|
Revolving
Credit Facilities |
|
|
Other
notes and debt |
|
|
Unsecured
convertible debentures |
|
|
Total |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2014 |
|
|
399,889 |
|
|
|
- |
|
|
|
26,526 |
|
|
|
357,528 |
|
|
|
783,943 |
|
| 2015 |
|
|
300,863 |
|
|
|
- |
|
|
|
25,882 |
|
|
|
104,659 |
|
|
|
431,404 |
|
| 2016 |
|
|
3,103,359 |
|
|
|
477,000 |
|
|
|
- |
|
|
|
1,037,813 |
|
|
|
4,618,172 |
|
| Total |
|
$ |
3,804,111 |
|
|
$ |
477,000 |
|
|
$ |
52,408 |
|
|
$ |
1,500,000 |
|
|
$ |
5,833,519 |
|
|
| Schedule of Unsecured Convertible debentures and Related Debt Discounts |
As
of December 31, 2013, we have the following unsecured convertible debentures outstanding to the following:
| |
|
$ |
|
|
Maturity
Date |
|
|
Interest
Rate |
|
|
#
of Warrants |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| HCI |
|
|
1,000,000 |
|
|
|
June 30, 2016 |
|
|
|
16.0% |
|
|
|
1,600,007 |
|
| AQR |
|
|
200,000 |
|
|
|
December 1, 2012 |
|
|
|
20.0% |
|
|
|
576,002 |
|
| CNH |
|
|
100,000 |
|
|
|
December 1, 2012 |
|
|
|
20.0% |
|
|
|
288,003 |
|
| Coventry |
|
|
200,000 |
|
|
|
April 1, 2016 |
|
|
|
16.0% |
|
|
|
575,999 |
|
| Total |
|
$ |
1,500,000 |
|
|
|
|
|
|
|
|
|
|
|
3,040,011 |
|
|