Quarterly report pursuant to Section 13 or 15(d)

Debt, Commitments and Contingencies (Tables)

v3.8.0.1
Debt, Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2017
DEBT, COMMITMENTS AND CONTINGENCIES  
Schedule of Debt

Debt consists of the following:

 

    Maturity   Interest     September 30,     December 31,  
    Date   Rate     2017     2016  
                       
Senior secured term notes   9-Jul-20     LIBOR + 9.75 %   $ 15,881,493     $ 15,620,759  
Less: debt discount                 (1,686,090 )     (1,425,167 )
Total senior-term notes, net of discount               $ 14,195,403     $ 14,195,592  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
                             
Convertible Note   10-Oct-18     11 %   $ 0     $ 500,000  

 

    Maturity     Late       September 30,       December 31,  
    Date     Fee       2017       2016  
iRunway trade payable   On Demand     1.5% per month     $ 0     $ 191,697  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
Note payable   31-Jan-17     NA     $ -     $ 103,000  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
Siemens   30-Sep-17     NA     $ -     $ 1,672,924  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
Dominion Harbor   15-Oct-17     NA     $ -     $ 125,000  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
Oil & Gas   On Demand     NA     $ 1,000,000     $ 944,296  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
Convertible Note   10-May-18     0     $ 1,876,300     $ -  
Less: debt discount                 (1,851,171 )     -  
Total Convertible notes, net of discount               $ 25,129     $ -  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
Convertible Note   31-May-18     5 %   $ 3,195,932     $ -  
Less: debt discount                 (2,834,308 )     -  
Total Convertible notes, net of discount               $ 361,624     $ -  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
Medtech Note   1-May-18     NA     $ -     $ -  

 

    Maturity     Interest       September 30,       December 31,  
    Date     Rate       2017       2016  
3D Nano License Fee   31-Jan-17     NA     $ -     $ 100,000  

 

    September 30, 2017     December 31, 2016  
Total   $ 15,582,156     $ 17,832,509  
Less: current portion     (15,582,156 )     (13,162,007 )
Total, net of current portion   $ -     $ 4,670,502  

Schedule of Future Minimum Principal Payments

Future minimum principal payments for all items set forth above are as follows:

 

2017   $ 16,881,493  
2018     5,072,232  
Total   $ 21,953,725  

Schedule of Future Minimum Lease Payments

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

 

2017 (Three Months)   $ 18,081  
2018     74,540  
2019     77,872  
2020     81,336  
2021     27,504  
Total   $ 297,333