Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Interest Expense (Tables)

v3.7.0.1
Notes Payable and Interest Expense (Tables)
3 Months Ended
Mar. 31, 2017
Notes Payable and Interest Expense [Abstract]  
Schedule Of Notes Payable



 

 

 

 

 

 

 

 

 

 

Facility

 

Maturity

 

Interest Rate

 

Balance at
March 31,
2017

 

Balance at
December 31,
2016

   BDC Term Loan

 

December 15, 2018

 

12% 

 

$

337,055 

 

$

333,260 

   ACOA Note

 

May 1, 2021

 

-

 

 

113,348 

 

 

59,995 

   SVB Working Capital Line of Credit Facility

 

March 30, 2018

 

Variable

 

 

968,855 

 

 

979,821 

Total Debt

 

 

 

 

 

 

1,419,258 

 

 

1,373,076 

Debt discount

 

 

 

 

 

 

31,769 

 

 

21,003 

Less current portion

 

 

 

 

 

 

(1,097,919)

 

 

(1,032,913)

Long-term debt, net of current portion

 

 

 

 

 

$

353,108 

 

$

361,166