XML 59 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Long-term debt and other financing arrangements (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Long-term debt and other financing arrangements    
Schedule of long-term borrowing

 

 

Description
  Interest
rate		   June 30,
2014		   December 31,
2013		  

Convertible Subordinated Unsecured Promissory Note—Richmont Capital Partners V L.P. (including accrued interest)

     4.00 % $ 21,281,097   $ 20,881,096  

Promissory Note—payable to former shareholder of TLC

     2.63 %   3,555,293     3,734,695  

Promissory Note—Lega Enterprises, LLC (formerly Agel Enterprises, LLC)

     5.00 %   1,496,996     1,649,880  

Promissory Note—payable to Tamala L. Longaberger

     10.00 %   42,000     —  

Term loan—KeyBank

           —     427,481  

Other, equipment notes

           30,244     30,244  
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total debt

           26,405,630     26,723,396  

Less current maturities

           711,398     1,128,674  
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-term debt

         $ 25,694,232   $ 25,594,722  
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 

 

 

Description
  Interest
rate		   December 31,
2013		   December 31,
2012		  

Convertible Subordinated Unsecured Promissory Note—Richmont Capital Partners V L.P. (including accrued interest)

     4.00 % $ 20,881,096   $ 20,041,644  

Promissory Note—payable to former shareholder of TLC

     2.63 %   3,734,695     —  

Promissory Note—Lega Enterprises, LLC (formerly Agel Enterprises, LLC)

     5.00 %   1,649,880     —  

Term loan—KeyBank

     7.70% *   427,481     —  

Other, equipment notes

           30,244     —  
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total debt

           26,723,396     20,041,644  

Less current maturities

           1,128,674     —  
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-term debt

         $ 25,594,722   $ 20,041,644  
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 
*
Represents the weighted average interest rate at December 31, 2013. The interest rate is variable based on the agreement described below.
Schedule of maturities of long-term debt  

 

 

2014

   $ 1,128,674  

2015

     696,406  

2016

     722,928  

2017

     750,565  

2018

     714,939  

Thereafter

     1,828,788  
       
​ ​ ​ ​ ​

Total excluding convertible note

     5,842,300  

Convertible note

     20,881,096  
       
​ ​ ​ ​ ​

Total long-term debt including current maturities

   $ 26,723,396  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​