Notes Payable and Convertible Notes (Tables)

3 Months Ended

Mar. 31, 2017

Notes Payable and Convertible Notes [Abstract]

Schedule of long-term debt

	March 31, 2017			December 31, 2016
Goldman Sachs - Tranche A Term Loan - LIBOR Interest on loan date plus 8%, 9% at March 31, 2017	$	65,500,000		$	40,000,000
Goldman Sachs – Revolver- LIBOR Interest on loan date plus 8%, 9.338% at March 31, 2017		4,864,212			3,195,000
Goldman Sachs – Tranche B Term Loan - Interest 11% annually		8,600,000			-
Convertible Notes Payable		-			1,250,000
Mortgage note payable to a bank, secured by real estate and guarantee of Company, bearing interest at 4.6%, due in monthly installments of $9,934, maturing May 2020		1,295,427			-
Notes payable, secured by equipment, bearing interest at 0%, due in monthly installments of approximately $8,000 through October 2016, then approximately $4,600 monthly thereafter until March 2019		109,294			-
Equipment loans		203,447			282,791
Notes payable to seller of Meridian, subordinated debt		1,475,000			1,475,000
Less: debt issuance cost/fees		(2,166,789	)		(1,195,797	)
Less: debt discount		(1,719,365	)		(1,810,881	)
Total debt		78,161,226			43,196,113
Less: current portion		(250,752	)		(1,385,380	)
Long term debt less current portion	$	77,910,474		$	41,810,733

Schedule of fair value calculations

	January 30, 2017			December 31,  2016			March 31, 2016
Purchase Price	$	450,000		$	450,000		$	450,000
Time to expiration		12/22/2023			12/22/2023			12/23/2023
Risk-free interest rate		1.41	%		1.42	%		1.60	%
Estimated volatility		60	%		60	%		45	%
Dividend		0	%		0	%		0	%
Stock price	$	2.95		$	10.34		$	36.00
Expected forfeiture rate		0	%		0	%		0	%

Schedule of change in the market value

Fair value of warrants @ December 31, 2016	$	1,250,000
Unrealized gain on derivative liability		(290,000	)
Extinguishment of warrant liability		(960,000	)
Fair value of warrants @ March 31, 2017	$	-

Fair value of warrants @ December 31, 2015	$	2,820,000
Unrealized gain on derivative liability		(180,000	)
Fair value of warrants @ March 31, 2016	$	2,640,000