| LONG-TERM DEBT |
Long-term debt consists of the following:
| |
|
|
June 30,
2017 |
|
|
December 31,
2016 |
|
| |
Secured mortgage payable to Bank for the purchase of the 100 Commerce Drive Building due in monthly installments of $11,900. |
|
|
1,755,908 |
|
|
|
1,767,950 |
|
| |
Note payable, former building owner interest payment only due in monthly installments of $1,604 interest at 5.5%. A balloon payment of $350 thousand plus unpaid interest due August 2018. |
|
|
350,000 |
|
|
|
350,000 |
|
| |
Note payable to the City of Loveland paid off in May 2017 |
|
|
- |
|
|
|
50,000 |
|
| |
|
|
|
2,105,908 |
|
|
|
2,167,950 |
|
| |
Less current portion |
|
|
30,493 |
|
|
|
79,521 |
|
| |
Long term debt |
|
|
2,075,415 |
|
|
|
2,088,429 |
|
Aggregate maturities of debt are as follows:
| 2018 |
|
|
363,373 |
|
| 2019 |
|
|
33,607 |
|
| 2020 |
|
|
35,858 |
|
| 2021 |
|
|
38,260 |
|
| 2022 |
|
|
44,345 |
|
| Thereafter |
|
|
1,559,972
|
|
| |
|
|
2,075,415
|
|
|