Annual report pursuant to Section 13 and 15(d)

Notes Payable and Interest Expense (Tables)

v3.7.0.1
Notes Payable and Interest Expense (Tables)
12 Months Ended
Dec. 31, 2016
Notes Payable and Interest Expense [Abstract]  
Schedule Of Notes Payable



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

Facility

 

Maturity

 

Interest Rate

 

Balance at
December 31,
2016

 

Balance at
December 31,
2015

   BDC Term Loan

 

December 15, 2018

 

12% 

 

$

333,260 

 

$

 -

   ACOA Note

 

May 1, 2021

 

-

 

 

59,995 

 

 

 -

   SVB Working Capital Line of Credit Facility

 

March 30, 2018

 

Variable

 

 

979,821 

 

 

 -

Total Debt

 

 

 

 

 

 

1,373,076 

 

 

 -

Debt discount

 

 

 

 

 

 

21,003 

 

 

 

Less current portion

 

 

 

 

 

 

(1,032,913)

 

 

 -

Long-term debt, net of current portion

 

 

 

 

 

$

361,166 

 

$

 -



Summary of Interest Expense



 

 

 

 

 

 



 

 

 

 

 

 

 

 

December 31,

 

 

2016

 

2015

Interest expense

 

$

77,361 

 

$

847 

Total interest expense

 

$

77,361 

 

$

847