Debt Description

September 30,

December 31,

2014

2013

Maturity

Rate

Bank Loan

$

5,000,000

$

5,000,000

June 2016

3.85

%

Capital lease obligations - Noteholder lease

118,045

132,321

August 2019

8.00

%

Capital lease obligations - Office furniture

31,699

36,778

September 2016

9.80

%

Convertible notes - related parties, net of discount of $4,927,129 and $1,921,394, respectively

24,447,102

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

30,277,486

29,412,705

Less: current portion of long term debt

Capital lease obligations

27,786

26,113

Bank Loan

-

5,000,000

Total current portion of long term debt

27,786

5,026,113

Debt - long term

$

30,249,700

$

24,386,592