Debt Description

June 30,

December 31,

2014

2013

Maturity

Rate

Bank Loan

$

5,000,000

$

5,000,000

June, 2016

3.85

%

Capital lease obligations - Noteholder lease

122,899

132,321

August, 2019

8.00

%

Capital lease obligations - Office furniture

33,433

36,778

September, 2016

9.80

%

Convertible notes - related parties, net of discount of $5,515,357 and $1,921,394, respectively

23,358,874

23,512,836

November, 2016

8.00

%

Convertible notes, net of discount of $50,129 and zero, respectively

680,640

730,770

November, 2016

8.00

%

Total debt

29,195,846

29,412,705

Less: current portion of long term debt

Capital lease obligations

27,206

26,113

Bank Loan

-

5,000,000

Total current portion of long term debt

27,206

5,026,113

Debt - long term

$

29,168,640

$

24,386,592