| Schedule of Notes Payable |
| |
|
September 30, 2016 |
|
|
December 31, 2015 |
|
| Vendors Notes (Unsecured) |
|
|
|
|
|
|
|
|
| Long term vendor Notes (“Vendor Notes”) issued to settle litigation bearing interest rates between 0% and 6% per annum. Terms range from 1 to 9 months. |
|
$ |
1,059,337 |
|
|
$ |
491,000 |
|
Other Notes Payable
| Notes payable bearing interest at a stated rate of 12% and a 4% PIK per annum. Terms is for 7 months. |
|
|
2,560,700 |
|
|
|
- |
|
| Less deferred financing costs |
|
|
(473,100 |
) |
|
|
|
|
| Total other note payable, net |
|
|
2,087,600 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Notes payable bearing interest at a stated rate between 10% and 12% per annum. Terms range from 1 to 4 months. |
|
|
609,000 |
|
|
|
709,000 |
|
Equipment Notes
| Obligations under capital leases, bearing interest rates between 4.1% and 8.2% per annum, secured by equipment having a value that approximates the debt value. Terms range from 48 to 60 months. |
|
|
1,050,935 |
|
|
|
960,205 |
|
| Various Equipment notes, bearing interest rates between 2% and 41% per annum, secured by equipment having a value that approximates the debt value. Terms range from 36 to 72 months. |
|
|
1,574,475 |
|
|
|
1,298,978 |
|
| Total Notes payables |
|
$ |
6,381,347 |
|
|
$ |
3,459,183 |
|
| Less: Current portion |
|
$ |
4,105,491 |
|
|
$ |
(1,887,120 |
) |
| Total Notes non-current portion |
|
$ |
2,275,856 |
|
|
$ |
1,572,063 |
|
|