June 30,

December 31,

2015

2014

Line of credit of $50,000 from PNC bank, originating on February 16, 2012. The outstanding balance on the line of credit bears interest at an introductory rate of 4.25% for the first year, subject to renewal thereafter. Payments of $739 are due monthly.

$

44,371

$

47,898

Line of credit of $20,000 from US Bank, originating on June 8, 2012. The outstanding balance on the line of credit bears interest at 9.75%, maturing on June 5, 2019. Payments of $500 are due monthly.

12,374

14,786

Line of credit of $40,000 from Dell Business Credit available for the purchase of Dell products, such as computer and software equipment. The outstanding balance on the line of credit bears interest at a rate of 26.99%. Variable payments are due monthly.

20,297

5,305

Line of credit of $40,000 from Chase Bank, originating on March 9, 2015. The outstanding balance on the line of credit bears interest at 8.0%, maturing on March 9, 2016. Payments of $250 are due monthly.

37,460

–

Line of credit of $25,000 from Bank of America. The outstanding balance on the line of credit bears interest at a rate of 4.25%. Variable payments are due monthly. A total of $24,500 was acquired with the acquisition of Telecorp.

10,889

12,250

Total line of credit

125,391

80,239

Less: current portion

(125,391

)

(80,239

)

Line of credit, less current portion

$

–

$

–