Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Minimum future rental payments required under capital and operating leases

A summary of minimum future rental payments required under capital and operating leases as of June 30, 2018 are as follows:



For the Years Ending December 31,	Capital Leases		Operating Leases		Cloud Data Storage
Remaining in 2018	$	117,315	$	2,259,011	$	63,165
2019	148,183		2,451,287		478,506
2020	39,655		967,326		682,329
2021	4,904		612,619		1,014,517
2022	—		283,302		1,115,969
Thereafter	—		—		1,227,566
Total minimum lease payments	$	310,057	$	6,573,545	$	4,582,052
Less: amount representing interest	12,395
Total present value of minimum payments	297,662
Less: current portion of capital lease obligations	187,606
Long-term capital lease obligations	$	110,056

Minimum future principal payments

A summary of minimum future principal payments under our New Term Loan Facility as of June 30, 2018 are as follows:



For the Years Ending December 31,	New Term Loan Facility⁽¹⁾
Remaining in 2018	$	7,500,000
2019	15,000,000
2020	26,250,000
Total minimum loan payments	$	48,750,000

(1)

Interest rates on the New Term Loan Facility are variable in nature, however, the Company is party to a fixed-pay amortizing interest rate swap having a remaining notional amount of $33.8 million and a non-amortizing interest rate cap with a notional amount of $15.0 million. If interest rates were to remain at the June 30, 2018 level, we would receive interest payments of $0.03 million in 2018, $0.04 million in 2019 and $0.01 million in 2020 of net settlements on the fixed-pay amortizing interest rate swap.