Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Other Long Term Debt (Tables)

v3.10.0.1
Notes Payable and Other Long Term Debt (Tables)
9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Schedule of long-term debt
The following table presents the balances of notes payable as of the dates indicated:
Branch Banking and Trust Company
 
Maturity Date
 
September 30,
2018
 
December 31, 2017
 
Interest Rates
 
 
 
 
September 30, 2018
 
December 31, 2017
Previous Working Capital Loan
 
November 28, 2019
 
$

 
$
2,750,000

 
%
 
3.38
%
Working Capital Loan
 
November 28, 2020
 

 

 
4.02
%
 
%
$27.49 Million Equipment Loan (previously $22.6 Million Equipment Loan)
 
May 1, 2022
 
25,450,000

 
19,540,000

 
4.02
%
 
3.25
%
Total notes payable
 
 
 
25,450,000

 
22,290,000

 
 
 
 
Less unamortized debt issuance costs
 
30,738

 
38,646

 
 
 
 
Total notes payable, net
 
25,419,262

 
22,251,354

 
 
 
 
Less current portion of notes payable, net
 
6,897,725

 
6,099,787

 
 
 
 
Notes payable net, less current portion
 
$
18,521,537

 
$
16,151,567