Quarterly report pursuant to Section 13 or 15(d)

10. Long-Term Debt (Tables)

v3.7.0.1
10. Long-Term Debt (Tables)
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Secured credit facilities
    June 30,     December 31,  
    2017     2016  
Term loan   $ 63,375,000     $ 65,000,000  
Less:                
Deferred financing fees     (1,158,481 )     (1,289,629 )
Current portion     (4,875,000 )     (2,979,167 )
Term loan - long-term portion   $ 57,341,519     $ 60,731,204  
                 
Indebtedness under revolving credit facility   $ -     $ 3,000,000  
Components of notes payable non-related parties
    June 30,     December 31,  
    2017     2016  
Subordinated notes   $ 33,588,717     $ 33,588,717  
Discount on subordinated notes     (1,204,398 )     (1,368,629 )
Deferred financing fees     (691,936 )     (788,486 )
Total notes payable - non-related parties     31,692,383       31,431,602  
Less: current portion     -       -  
Long-term portion   $ 31,692,383     $ 31,431,602  
Related Party Note Payable
    June 30,     December 31,  
    2017     2016  
Notes payable to Marvin Rosen   $ 928,081     $ 928,081  
Discount on notes     (24,498 )     (52,331 )
Total notes payable - related parties   $ 903,583     $ 875,750