Notes Payable and Other Long Term Debt (Tables)

6 Months Ended

Jun. 30, 2019

The following table presents the balances of notes payable as of the dates indicated:

						Interest Rates
Branch Banking and Trust Company	Maturity Date	June 30, 2019		December 31, 2018		June 30, 2019			December 31, 2018
Working Capital Loan	November 28, 2020	$	—	$	5,000,000		—	%		4.31	%
$38.2 Million Equipment Loan	March 9, 2024		35,832,000		23,920,000		4.22	%		4.31	%
$ 4.5 Million Equipment Loan	March 7, 2024		—		—		—	%		—	%
Total notes payable			35,832,000		28,920,000
Less unamortized debt issuance costs			70,271		27,086
Total notes payable, net			35,761,729		28,892,914
Less current portion of notes payable, net			7,458,207		7,161,890
Notes payable net, less current portion		$	28,303,522	$	21,731,024

- 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.

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+ Details