Annual report pursuant to Section 13 and 15(d)

Notes Payable and Interest Expense (Tables)

v3.8.0.1
Notes Payable and Interest Expense (Tables)
12 Months Ended
Dec. 31, 2017
Notes Payable and Interest Expense [Abstract]  
Schedule Of Notes Payable



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

Facility

 

Maturity

 

Interest Rate

 

Balance at

December 31,

2017

 

Balance at

December 31,

2016

   BDC Term Loan

 

September 15, 2019

 

12% 

 

$

358,466 

 

$

333,260 

   ACOA Note

 

May 1, 2023

 

-

 

 

175,632 

 

 

59,995 

   SVB Working Capital Line of Credit Facility

 

March 30, 2018

 

Variable

 

 

1,882,936 

 

 

979,821 

Total Debt

 

 

 

 

 

 

2,417,034 

 

 

1,373,076 

Debt discount

 

 

 

 

 

 

7,786 

 

 

21,003 

Less current portion

 

 

 

 

 

 

(2,244,010)

 

 

(1,032,913)

Long-term debt, net of current portion

 

 

 

 

 

$

180,810 

 

$

361,166 



Summary of Interest Expense



 

 

 

 

 

 



 

 

 

 

 

 

 

 

December 31,

 

 

2017

 

2016

Interest expense

 

$

169,044 

 

$

77,361 

Total interest expense

 

$

169,044 

 

$

77,361