Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.19.2
Debt (Tables)
6 Months Ended
Jun. 30, 2019
Debt  
Schedule of Debt

As of June 30, 2019 and December 31, 2018, debt consisted of the following:

 

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

    

2019

    

2018

Line of credit:

 

 

  

 

 

  

Asset backed line of credit

 

$

771,407

 

$

561,804

Debt issuance costs

 

 

(23,359)

 

 

(30,000)

Total line of credit

 

 

748,048

 

 

531,804

 

 

 

 

 

 

  

Senior convertible notes payable:

 

 

 

 

 

  

Senior convertible notes payable

 

 

2,539,272

 

 

1,428,161

Debt issuance costs

 

 

(609,274)

 

 

(466,667)

Total long-term senior convertible notes payable

 

 

1,929,998

 

 

961,494

Less: current portion of long-term notes payable

 

 

918,504

 

 

 —

Noncurrent portion of long-term convertible  notes payable

 

 

1,011,494

 

 

961,494

 

 

 

 

 

 

 

Notes payable:

 

 

 

 

 

  

Notes payable

 

 

913,550

 

 

370,250

Debt issuance costs

 

 

(74,667)

 

 

 —

Total long-term debt

 

 

838,883

 

 

370,250

Less: current portion of long-term debt

 

 

(789,214)

 

 

(313,572)

Noncurrent portion of long-term debt

 

 

49,669

 

 

56,688

 

 

 

 

 

 

  

Notes payable – related parties:

 

 

 

 

 

  

Notes payable

 

 

3,423,194

 

 

3,464,191

Less: current portion of long-term debt – related parties

 

 

(1,016,917)

 

 

(932,701)

Noncurrent portion of long-term debt – related parties

 

$

2,406,277

 

$

2,531,490

 

Schedule of Maturities of Long-term Debt

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