Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Long-term debt consists of the following:


	September 30, 2019		December 31, 2018
Marathon Tranche One Loan, due December 31, 2021, interest payable quarterly, variable interest rate of 10.0% as of September 30, 2019	$	10,000,000	$	10,000,000
Marathon Tranche Two Loan, due December 31, 2021, interest payable quarterly, variable interest rate of 10.0% as of September 30, 2019	5,854,140		—
Unamortized discount and issuance costs	(1,294,730)		(1,687,921)
Net Marathon Credit Agreement	14,559,410		8,312,079
Less current portion	6,354,140		—
Long-term debt	$	8,205,270	$	8,312,079

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details