Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.3.1.900
Debt (Tables)
12 Months Ended
Dec. 31, 2015
DEBT  
Schedule of debt

 

 

 

 

 

 

 

 

    

December 31,

    

December 31,

 

 

2015

 

2014

Term loan

 

$

5,688,256

 

$

7,500,000

Less: debt discount

 

 

(126,700)

 

 

(285,910)

Term Loan, net of debt discount

 

 

5,561,556

 

 

7,214,090

Less: current portion, net of debt discount

 

 

(3,208,074)

 

 

(1,905,879)

Long term debt, net of current portion and debt discount

 

$

2,353,482

 

$

5,308,211

 

Schedule of future principal payments

 

 

 

 

Year ending December 31,

    

    

 

2016

 

$

3,314,225

2017

 

 

2,374,031

 

 

$

5,688,256