Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Long Term Debt and Revolving Line of Credit

Note 15 - Long Term Debt and Revolving Line of Credit

6 Months Ended

Jun. 30, 2017

Notes

Note 15 - Long Term Debt and Revolving Line of Credit

Note 15 - Long term debt and revolving line of credit

Long term debt

Long term debt consists of the following:

		June 30, 2017		December 31, 2016
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 $3,056 and $3,723 unamortized loan service fee, respectively.	$	77,496	$	91,488

Auto loan through Hyundai Motor Finance, interest at 2.99% per annum, monthly principle and interest payments of $878, maturing December 2018.		-		6,004

Total notes payable		77,496		97,492

Less: Current maturities		(30,020)		(28,226)

	$	47,476	$	69,226

Commercial credit agreement with Bond Street Servicing, LLC

WCI entered into a commercial credit agreement with Bond Street Servicing, LLC which required a $4,000 loan service fee which is being amortized as additional interest over the life of the loan on a straight line basis. The unamortized loan service fee balance was $3,056 and $3,723 at June 30, 2017 and December 31, 2016, respectively.