Royalty Financing	9 Months Ended
Sep. 30, 2017
Royalty Financing
Royalty Financing	Note 8. Royalty Financing On October 31, 2014, the Company entered into a royalty purchase agreement with Grenville Strategic Royalty Corp. (“Grenville”) for the amount of $2,000,000. The agreement calls for a monthly payment to Grenville based on a percentage of the total of certain revenue items and subject to a minimum payment amount until $8,000,000 has been paid. The amount financed is recorded net of discount to be amortized during the term. For the nine months ended September 30, 2017 and 2016, the Company has recorded discount amortization expense of $319,025 and $232,175, respectively. The balance as shown on the consolidated balance sheet as of September 30, 2017, was $2,326,448, net of $4,983,828 in unamortized discount. The balance as shown on the consolidated balance sheet as of December 31, 2016, was $2,007,424, net of $5,302,853 in unamortized discount. As of September 30, 2017, the Company paid a total of $689,723 in royalty payments. Additionally, the Company has accrued $609,986 in unpaid royalty fees from August 2016 to September 2017.

Royalty Financing

9 Months Ended

Sep. 30, 2017

Note 8. Royalty Financing

On October 31, 2014, the Company entered into a royalty purchase agreement with Grenville Strategic Royalty Corp. (“Grenville”) for the amount of $2,000,000. The agreement calls for a monthly payment to Grenville based on a percentage of the total of certain revenue items and subject to a minimum payment amount until $8,000,000 has been paid. The amount financed is recorded net of discount to be amortized during the term. For the nine months ended September 30, 2017 and 2016, the Company has recorded discount amortization expense of $319,025 and $232,175, respectively. The balance as shown on the consolidated balance sheet as of September 30, 2017, was $2,326,448, net of $4,983,828 in unamortized discount. The balance as shown on the consolidated balance sheet as of December 31, 2016, was $2,007,424, net of $5,302,853 in unamortized discount. As of September 30, 2017, the Company paid a total of $689,723 in royalty payments. Additionally, the Company has accrued $609,986 in unpaid royalty fees from August 2016 to September 2017.