Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.19.1
Debt (Tables)
3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
As of March 31, 2019 and December 31, 2018, debt consisted of the following:
 
 
 
March 31,
 
 
December 31,
 
 
 
2019
 
 
2018
 
Line of credit:
 
 
 
 
 
 
 
 
Asset backed line of credit
 
$
547,914
 
 
$
561,804
 
Debt issuance costs
 
 
(27,252
)
 
 
(30,000
)
Total line of credit
 
 
520,662
 
 
 
531,804
 
 
 
 
 
 
 
 
 
 
Long-term senior convertible debt:
 
 
 
 
 
 
 
 
Senior convertible notes payable
 
 
1,428,161
 
 
 
1,428,161
 
Debt issuance costs
 
 
(441,667
)
 
 
(466,667
)
Total long-term senior convertible debt
 
 
986,494
 
 
 
961,494
 
 
 
 
 
 
 
 
 
 
Long-term debt:
 
 
 
 
 
 
 
 
Notes payable
 
 
926,924
 
 
 
370,250
 
Debt issuance costs
 
 
(129,471
)
 
 
-
 
Total long-term debt
 
 
797,453
 
 
 
370,250
 
Less: current portion of long-term debt
 
 
(744,255
)
 
 
(313,572
)
Noncurrent portion of long-term debt
 
 
53,198
 
 
 
56,688
 
 
 
 
 
 
 
 
 
 
Long-term debt – related parties:
 
 
 
 
 
 
 
 
Notes payable
 
 
3,436,928
 
 
 
3,464,191
 
Less: current portion of long-term debt – related parties
 
 
(967,576
)
 
 
(932,701
)
Noncurrent portion of long-term debt – related parties
 
$
2,469,352
 
 
$
2,531,490
 
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
 
2019
 
$
1,778,077
 
2020
 
 
239,461
 
2021
 
 
254,230
 
2022
 
 
704,296
 
2023
 
 
1,420,190
 
Thereafter
 
 
1,428,162
 
 
 
 
5,824,416
 
Less: debt discount
 
 
(496,667
)
 
 
$
5,327,749