Quarterly report pursuant to Section 13 or 15(d)

DEBT, COMMITMENTS AND CONTINGENCIES (Tables)

v3.7.0.1
DEBT, COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Jun. 30, 2017
DEBT, COMMITMENTS AND CONTINGENCIES  
Schedule of debt

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

 

 

 

 

 

 

 

 

 

 

Senior secured term notes

 

9-Jul-20

 

LIBOR + 9.75%

 

 $

15,835,900

 

 $

15,620,759

 

Less: debt discount

 

 

 

 

 

(1,805,701)

 

(1,425,167)

 

 

 

 

 

 

 

 

 

 

 

Total senior-term notes, net of discount

 

 

 

 

 

 $

14,030,199

 

 $

14,195,592

 

 

 

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

 

 

 

 

 

 

 

 

 

 

Convertible Note

 

10-Oct-18

 

11

%

 $

500,000

 

$

500,000

 

 

 

 

 

Maturity

 

Late

 

June 30,

 

December 31,

 

 

 

Date

 

Fee

 

2017

 

2016

 

iRunway trade payable

 

On Demand

 

1.5% per month

 

 $

191,697

 

$

191,697

 

 

 

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

Note payable

 

31-Jan-17

 

NA

 

 $

-

 

$

103,000

 

 

 

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

Siemens

 

30-Sep-17

 

NA

 

 $

750,000

 

$

1,672,924

 

 

 

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

Dominion Harbor

 

15-Oct-17

 

NA

 

 $

-

 

$

125,000

 

 

 

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

Oil & Gas

 

On Demand

 

NA

 

 $

1,000,000

 

$

944,296

 

 

 

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

3dnano Convertible Note

 

1-Jan-18

 

15

%

 $

50,000

 

$

-

 

 

 

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

Medtech Note

 

1-May-18

 

NA

 

 $

600,000

 

$

-

 

 

 

 

 

Maturity

 

Interest

 

June 30,

 

December 31,

 

 

 

Date

 

Rate

 

2017

 

2016

 

3dnano Liscense Fee

 

31-Jan-17

 

NA

 

 $

-

 

$

100,000

 

 

 

 

 

 

 

 

 

June 30, 2017

 

December 31, 2016

 

Total

 

 

 

 

 

 $

17,121,896

 

 $

17,832,509

 

Less: current portion

 

 

 

 

 

(5,622,173)

 

(13,162,007)

 

 

 

 

 

 

 

 

 

 

 

Total, net of current portion

 

 

 

 

 

 $

11,499,723

 

 $

4,670,502

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of future minimum principal payments

 

2017

 

$

2,446,561

 

2018

 

7,208,368

 

2019

 

6,058,367

 

2020

 

3,214,301

 

 

 

 

 

Total

 

$

18,927,597

 

 

 

 

 

 

 

Schedule of future minimum lease payments

 

Minimum future lease payments under this lease at June 30, 2017, for the next five years are as follows:

 

2017 (Six Months)

 

$

36,162

 

2018

 

74,540

 

2019

 

77,872

 

2020

 

81,336

 

2021

 

27,504

 

 

 

 

 

Total

 

$

297,414