Borrowings and Capital Lease Obligations (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Short-Term Debt Obligations

The Company’s short-term debt obligations are as follows:

	Rate (1)		March 31, 2015		December 31, 2014
Insurance premium financings	3.9 - 4.9%		$	410,766	$	456,784
Line of Credit - SNB		3.25%		1,500,000		—
Short-term debt			$	1,910,766	$	456,784
(1) Effective rate as of March 31, 2015

Schedule of Applicable Margins Rate

The Applicable Margins are as follows:

	Applicable Margin
Senior Debt Ratio	Revolving Loan	Term Loan
≥ 2.5x	3.75%	4.25%
< 2.5x, but ≥ 2.0x	3.25%	3.75%
< 2.0 x	2.75%	3.25%

Future Maturities of Long-Term Debt

At March 31, 2015, future maturities of long-term debt were as follows:

Twelve months ended March 31:
2016	$	5,158,510
2017		4,772,089
2018		4,580,032
2019		4,613,126
2020		4,626,908
Thereafter		4,954,187

Continuing Operations

Schedule of Borrowings and Capital Lease Obligations

The Company’s long-term debt and capital lease obligations are as follows:

	Rate (1)		Maturity Date	March 31, 2015			December 31, 2014
Senior Lender:
Note payable		3.9%	Jul. 2021	$	24,875,000		$	25,750,000
Capital Lease Obligations	5.5 - 10.7%		Jan. 2017 - Dec. 2020		3,829,852			4,010,767
Total					28,704,852			29,760,767
Less: Current portion of long-term debt					(5,158,510	)		(5,023,048	)
Long-term debt				$	23,546,342		$	24,737,719
(1) Effective rate as of March 31, 2015