Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.19.3
Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term debt consists of the following:
September 30, 2019 December 31, 2018
Marathon Tranche One Loan, due December 31, 2021, interest payable quarterly, variable interest rate of 10.0% as of September 30, 2019
$ 10,000,000    $ 10,000,000   
Marathon Tranche Two Loan, due December 31, 2021, interest payable quarterly, variable interest rate of 10.0% as of September 30, 2019
5,854,140    —   
Unamortized discount and issuance costs (1,294,730)   (1,687,921)  
Net Marathon Credit Agreement 14,559,410    8,312,079   
Less current portion 6,354,140    —   
Long-term debt $ 8,205,270    $ 8,312,079