Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Interest Expense (Tables)

v3.10.0.1
Notes Payable and Interest Expense (Tables)
9 Months Ended
Sep. 30, 2018
Notes Payable and Interest Expense [Abstract]  
Schedule Of Notes Payable



 

 

 

 

 

 

 

 

 

 

Facility

 

Maturity

 

Interest Rate

 

Balance at

September 30,

2018

 

Balance at
December 31,
2017

BDC Term Loan

 

December 15, 2018

 

12% 

 

$

304,829 

 

$

358,466 

ACOA Note

 

May 1, 2021

 

-

 

 

153,269 

 

 

175,632 

SVB Working Capital Line of Credit Facility

 

March 30, 2018

 

Variable

 

 

 -

 

 

1,882,936 

Bridge Loan Promissory Note

 

 

 

24% 

 

 

 -

 

 

 -

Related Party Note

 

March 31, 2020

 

15% 

 

 

80,000 

 

 

 -

Total Debt

 

 

 

 

 

 

538,098 

 

 

2,417,034 

Debt discount

 

 

 

 

 

 

 -

 

 

7,786 

Less current portion

 

 

 

 

 

 

(332,312)

 

 

(2,244,010)

Long-term debt, net of current portion

 

 

 

 

 

$

205,786 

 

$

180,810