Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.19.2
Long-Term Debt (Tables)
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Schedule of long-term debt

    June 30,
2019
    December 31,
2018
 
Marathon Tranche One Loan, due December 31, 2021, interest only quarterly payments, variable interest rate of 10.25% as of June 30, 2019   $ 10,000,000     $ 10,000,000  
Marathon Tranche Two Loan, due December 31, 2021, interest only quarterly payments, variable interest rate of 10.25% as of June 30, 2019     5,854,140       -  
Marathon Credit Agreement unamortized discount and issuance costs     (1,427,818 )     (1,687,921 )
Net Marathon Credit Agreement     14,426,322       8,312,079  
Less current portion     5,854,140       -  
Long-term debt   $ 8,572,182     $ 8,312,079