Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.19.3
Debt (Tables)
9 Months Ended
Sep. 30, 2019
Debt  
Schedule of debt

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

 

 

 

 

 

 

 

 

 

 

September 30, 

 

December 31, 

 

    

2019

    

2018

Line of credit:

 

 

  

 

 

  

Asset backed line of credit

 

$

471,553

 

$

561,804

Debt issuance costs

 

 

(19,466)

 

 

(30,000)

Total line of credit

 

 

452,087

 

 

531,804

 

 

 

 

 

 

  

Senior convertible notes payable:

 

 

 

 

 

  

Senior convertible notes payable

 

 

2,539,273

 

 

1,428,161

Debt issuance costs

 

 

(439,818)

 

 

(466,667)

Total long-term senior convertible notes payable

 

 

2,099,455

 

 

961,494

Less: current portion of long-term notes payable

 

 

 —

 

 

 —

Noncurrent portion of long-term convertible  notes payable

 

 

2,099,455

 

 

961,494

 

 

 

 

 

 

 

Notes payable:

 

 

 

 

 

  

Notes payable

 

 

1,470,137

 

 

370,250

Debt issuance costs

 

 

(153,793)

 

 

 —

Total long-term debt

 

 

1,316,344

 

 

370,250

Less: current portion of long-term debt

 

 

(1,270,243)

 

 

(313,572)

Noncurrent portion of long-term debt

 

 

46,101

 

 

56,678

 

 

 

 

 

 

  

Notes payable – related parties:

 

 

 

 

 

  

Notes payable

 

 

3,381,579

 

 

3,464,191

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

 

 

(1,039,330)

 

 

(932,701)

Noncurrent portion of long-term debt – related parties

 

$

2,342,249

 

$

2,531,490

 

Schedule of maturities of the 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

 

$

2,175,092

2020

 

 

828,426

2021

 

 

871,916

2022

 

 

218,266

2023

 

 

1,229,569

Thereafter

 

 

2,539,273

 

 

 

7,862,542

Less: debt discount

 

 

(613,077)

 

 

$

7,249,465