Insurance Financing Note Payable

9 Months Ended

Sep. 30, 2019

Insurance Financing Note Payable [Abstract]

Insurance Financing Note Payable

9.  Insurance Financing Note Payable

On June 3, 2019, the Company entered into a short-term note payable for $1.9 million, bearing interest at 4.65% per annum to finance various insurance policies. Principal and interest payments related to this note began on July 3, 2019 and are paid on a straight-line amortization over a 10-month period with the final payment due on April 3, 2020. As of September 30, 2019, the Company’s insurance note payable balance was $1.15 million.