13.

Long Term Debt and Other Term Obligations

Long term debt and other obligations consisted of the following as of the periods presented below:

	DECEMBER 31, 2017						DECEMBER 31, 2016
	Current		Non-Current				Current		Non-Current
	Portion		Portion		Total		Portion		Portion		Total

Mortgage Debt (Assets Held for Sale) (1)	$	-	$	-	$	-	$	20,187	$	412,180	$	432,367
Bank Term Note (2)		-		-		-		74,681		-		74,681
Capital Lease Obligations (3)		101,591		232,109		333,700		4,097		-		4,097
Total Long Term Debt	$	101,591	$	232,109	$	333,700	$	98,965	$	412,180	$	511,145

Deferred Rent Liability (4)		70,021		78,336		148,357		40,397		86,198		126,595
Short term installment borrowings (5)		133,250		-		133,250		131,761		-		131,761
Total Other Term Obligations	$	203,271	$	78,336	$	281,607	$	172,158	$	86,198	$	258,356

(1) On December 17, 2010, the Company entered into a real estate purchase agreement to acquire the Lewis Center Facility for approximately $677,000 and financed a significant portion of the purchase price with a $528,000 ten-year mortgage with Cardinal Bank. On May 22, 2017, the Company completed the sale of this real estate asset and paid off the balance of the mortgage. See Note 3 for additional information regarding the sale of the property.

(2) On December 31, 2011, the Company entered into a $4.0 million 5-year term note with Cardinal Bank to fund a portion of the purchase price paid in connection with the asset purchase agreement with Avalon Global Solutions, Inc. dated December 30, 2011. The Company paid the last scheduled installment on January 6, 2017.

(3) As more fully described in Note 8, the Company entered into capital leases to acquire computer hardware and software for its client facing infrastructure and two new automobiles that expire between 2020 and 2021.

(4) The Company has two significant long term building lease obligations that contain fixed rent escalations and rent abatements. The Company has recognized a deferred rent liability related to the difference between actual cash rent paid and rent recognized for financial reporting purposes.

(5) The Company annually finances the cost of its commercial liability insurance premiums for a period of less than 12 months. During the years ended December 31, 2017 and 2016, the Company financed approximately $191,400 and $177,300, respectively.

Future repayments on long-term and other obligations are as follows for fiscal years ending December 31:

	Long-Term		Other Term
	Debt		Obligations

2018		101,591		203,271
2019		108,546		12,840
2020		117,361		3,063
2021		6,202		1,251
2022		-		5,566
Thereafter		-		55,616

Total	$	333,700	$	281,607

The following sets forth the Company’s future minimum payment obligations under capital lease agreements for fiscal years ending December 31:

2018	$	122,620
2019		122,620
2020		119,621
2021		7,908

Total principal and interest payments		372,769
Less: portion representing interest		39,069
Present value of minimum lease payments
under capital lease agreements		333,700
Less: current portion		101,591
Capital lease obligations, net of current portion	$	232,109