Annual report pursuant to Section 13 and 15(d)

Schedule of Long Term Debt (Tables)

v3.8.0.1
Schedule of Long Term Debt (Tables)
12 Months Ended
Dec. 31, 2016
Schedule of Long Term Debt (Tables)  
Schedule of Long Term Debt (Tables)

Long term debt at December 31, 2016 and 2015 consists of the following:

 

 

 

2016

 

2015

Commercial credit agreement with Bond Street Servicing, LLC at 11.6% interest per annum, semi-monthly payments of $1,648, maturing October 16, 2019. Net of $3,723 loan service fee.

$

91,488

$

-

 

 

 

 

 

Two auto loans through Compass bank, interest at 7.99% per annum, monthly principle and interest payments of $538, maturing February 2016.

 

-

 

1,069

 

 

 

 

 

Auto loan through Hyundai Motor Finance, interest at 2.99% per annum, monthly principle and interest payments of $878, maturing December 2018.

 

6,004

 

29,384

 

 

 

 

 

 Total notes payable

 

97,492

 

30,453

 

 

 

 

 

 Less: Current maturities

 

(28,226)

 

(10,841)

 

 

 

 

 

 

$

69,226

$

19,612