Borrowings and Capital Lease Obligations (Tables)

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Schedule of Short-Term Debt Obligations

The Company’s short-term debt obligations are as of June 30, 2016 and December 31, 2015 are as follows:

	Rate (1)	June 30, 2016		December 31, 2015
Insurance premium financings	4.8 - 5.0%	$	425,653	$	308,769
(1) Effective rate as of June 30, 2016

Schedule of Long-Term Debt Obligations

The Company’s long-term debt obligations at June 30, 2016 and December 31, 2015 are as follows:

	Rate (1)		Maturity Date	June 30, 2016			December 31, 2015
Senior Lender:
Note payable		4.3%	Dec. 2020	$	27,361,606		$	28,375,000
Line of credit		4.3%	Dec. 2018		14,500,000			10,500,000
Unamortized loan origination costs					(579,962	)		(644,403	)
Other Lenders:
Note payable - subordinated note		3.0%	Dec. 2019		7,900,000			7,900,000
Total					49,181,644			46,130,597
Less: Current portion of long-term debt					(9,028,572	)		(4,601,320	)
Long-term debt				$	40,153,072		$	41,529,277
(1) Effective rate as of June 30, 2016

Schedule of Applicable Margins Rate

The Applicable Margins are as follows:

Pricing Level	Senior Debt to EBITDA Ratio	Base Rate Portion		LIBOR Portion and Letter of Credit Fee		Commitment Fee
1	< 2.0 : 1.0		2.75%		3.75%		0.375%
2	≥ 2.0 : 1.0 but < 2.5 : 1.0		3.00%		4.00%		0.375%
3	≤ 2.5 : 1.0		3.25%		4.25%		0.375%

Future Maturities of Long-Term Debt

At June 30, 2016, future maturities of long-term debt were as follows:

Years ended June 30:
2017	$	9,028,572
2018		5,883,582
2019		17,383,582
2020		4,073,786
2021		12,812,122
Thereafter		—

Schedule of Capital Lease Obligations

The Company’s capital lease obligations as of June 30, 2016 and December 31, 2015 are as follows:

	Rate (1)		Maturity Date	June 30, 2016			December 31, 2015
Building		7.5%	Jul. 2036	$	24,168,540		$	24,424,341
Equipment	5.1 - 9.1%		Mar. 2017 - Dec. 2020		8,276,219			9,185,320
Total					32,444,759			33,609,661
Less: Current portion of capital leases					(4,071,318	)		(4,478,968	)
Capital leases obligations				$	28,373,441		$	29,130,693
(1) Effective rate as of June 30, 2016

Future Maturities of Capital Leases Obligations

At June 30, 2016, future maturities of capital lease obligations were as follows:

Years ended June 30:
2017	$	4,071,318
2018		2,942,345
2019		1,560,415
2020		1,630,374
2021		1,227,285
Thereafter		21,013,022