Schedule of Debt |
| |
|
2016 |
|
|
2015 |
|
| |
|
|
|
|
|
|
| Unsecured facility agreement with an entity whereby, as of June 30, 2015, the Company may borrow up to borrow up to $30.4 million bearing interest at a rate of 8% per annum, payable in arrears semi-annually, with all principal and accrued and unpaid interest due on July 31, 2018. A $1.2M origination fee was paid and recorded as a debt discount and will be amortized as interest expense over the term of the loan. As of September 30, 2016, the remaining debt discount was $408,784. |
|
$ |
29,991,216 |
|
|
$ |
29,768,243 |
|
| |
|
|
|
|
|
|
|
|
| Loan Agreement whereby the Company can borrow up to $5 million at 8% per annum on borrowed funds maturing on September 30, 2017. |
|
|
3,399,644 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| The Company entered into an agreement whereby the Company was granted a non-exclusive, irrevocable, perpetual and royalty-free license to certain patents with an entity. The Company agreed to pay $4,500,000 over two years or $187,500 per month through February 2016. |
|
|
- |
|
|
|
937,500 |
|
| |
|
|
|
|
|
|
|
|
| Non-interest bearing notes payable to a governmental agency assumed in conjunction with the G2 acquisition. |
|
|
182,002 |
|
|
|
254,917 |
|
| |
|
|
|
|
|
|
|
|
| Capital lease with effective interest rate of 12%. Lease matures August 15, 2019. |
|
|
18,673 |
|
|
|
24,754 |
|
| |
|
|
|
|
|
|
|
|
| Total debt obligations |
|
|
33,591,535 |
|
|
|
30,985,414 |
|
| Less current portion |
|
|
(3,245,732 |
) |
|
|
(796,225 |
) |
| Long-term debt, net of current portion |
|
$ |
30,345,803 |
|
|
$ |
30,189,189 |
|
|
Schedule of Maturities of Long-term Debt |
| Fiscal Year |
|
Total |
|
| 2017 |
|
$ |
3,245,732 |
|
| 2018 |
|
|
30,269,844 |
|
| 2019 |
|
|
42,250 |
|
| 2020 |
|
|
32,797 |
|
| 2021 & thereafter |
|
|
912 |
|
| Debt discount |
|
|
(408,784 |
) |
| Total |
|
$ |
33,182,751 |
|
|
Schedule of debt and debt obligations |
| Fiscal Year |
|
Total |
|
| 2017 |
|
$ |
4,440 |
|
| 2018 |
|
|
4,440 |
|
| 2019 |
|
|
4,440 |
|
| 2020 |
|
|
4,440 |
|
| Thereafter |
|
|
913 |
|
| Total minimum lease payments |
|
|
18,673 |
|
| Less: amount representing interest |
|
|
(3,705 |
) |
| Present value of net minimum lease payments |
|
|
14,968 |
|
| Less: current portion |
|
|
(4,440 |
) |
| Obligation under capital leases - long-term |
|
$ |
10,528 |
|
|