8. Long-Term Debt

9 Months Ended

Sep. 30, 2019

Long-term Debt, Unclassified [Abstract]

Long-term debt

8. Long-term debt

The Company has a chattel mortgage outstanding at September 30, 2019 secured by a motor vehicle requiring monthly payments approximating $2,541 (and a final payment approximating $43,712) that includes interest approximating 6.2%, and maturing on August 22, 2022. The components of the balance due under the chattel mortgage at September 30, 2019 are as follows:

	September 30, 2019 (not reviewed)			December 31, 2018
Chattel mortgage	$	110,986		$	131,304
Less: current portion		(21,047	)		(20,535	)
	$	89,939		$	110,769

Maturities of long-term debt at September 30, 2019 for each of the next five years and in the aggregate, are as follows:

	September 30, 2019 (not reviewed)		December 31, 2018
Next 12 months	$	21,047	$	20,535
2 years		23,079		22,530
3 years		66,860		24,720
4 years		–		63,519
	$	110,986	$	131,304