XML 23 R13.htm IDEA: XBRL DOCUMENT v3.19.1
Debt
3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Debt

Note 7 – Debt

As of March 31, 2019, the Company’s outstanding short-term debt consisted of approximately $333,000 due under the MGHIF Note, as well as the financing arrangements for the Company’s insurance with note balances of approximately $14,000 with a final payment scheduled for May 2019. The Company’s outstanding long-term debt as of March 31, 2019 consisted of approximately $494,000 due under the MGHIF Note (see Note 5 “MGHIF financing”). As of December 31, 2018, the Company’s outstanding short-term debt consisted of $333,000 due under the MGHIF Note, net of discounts and financing costs, as well as the financing arrangements for the Company’s insurance with note balances of approximately $65,000. The Company’s outstanding long-term debt as of December 31, 2018 consisted of approximately $660,000 due under the MGHIF Note, net of discounts and financing costs. Total principal payments of approximately $333,000 are due annually in 2019, 2020, and 2021.  

 

Total interest expense (including amortization of debt discounts and financing fees) on all debt instruments was $56,444 and $57,846 for the three months ended March 31, 2019 and 2018, respectively.