Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.19.1
Debt (Tables)
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
As of December 31, 2018 and 2017, debt consisted of the following:
 
 
 
December 31,
 
 
December 31,
 
 
 
2018
 
 
2017
 
Line of credit:
 
 
 
 
 
 
 
 
Asset backed line of credit
 
$ 561,804
 
 
$ -
 
Debt issuance costs
 
 
(30,000 )
 
 
-
 
Total line of credit
 
 
531,804
 
 
 
-
 
 
 
 
 
 
 
 
 
 
Long-term senior convertible debt:
 
 
 
 
 
 
 
 
Senior convertible notes payable
 
 
1,428,161
 
 
 
-
 
Debt issuance costs
 
 
(466,667 )
 
 
-
 
Total long-term senior convertible debt
 
 
961,494
 
 
 
-
 
 
 
 
 
 
 
 
 
 
Long-term debt:
 
 
 
 
 
 
 
 
Notes payable
 
 
370,250
 
 
 
-
 
Less: current portion of long-term debt
 
 
(313,572 )
 
 
-
 
Noncurrent portion of long-term debt
 
 
56,688
 
 
 
-
 
 
 
 
 
 
 
 
 
 
Long-term debt – related parties:
 
 
 
 
 
 
 
 
Notes payable
 
 
3,464,191
 
 
 
2,996,500
 
Less: current portion of long-term debt – related parties
 
 
(932,701 )
 
 
(225,553 )
Noncurrent portion of long-term debt – related parties
 
$ 2,531,490
 
 
$ 2,770,947
 
Schedule of Maturities of Long-term Debt [Table Text Block]
The scheduled maturities of the debt for the next five years as of December 31, 2018, are as follows:
 
 
For the Years Ended December 31,
 
Amount
 
2018
 
$ 1,778,077
 
2019
 
 
239,461
 
2020
 
 
254,230
 
2021
 
 
704,296
 
2022
 
 
1,420,190
 
Thereafter
 
 
1,428,162
 
 
 
 
5,824,416
 
Less: debt discount
 
 
(496,667 )
 
 
$ 5,327,749