| Schedule of credit line debt |
| |
|
September 30,
2016 |
|
|
September 30,
2015 |
|
| |
|
|
|
| Base Rate Revolver
Loan- interest rate based on prime rate adjusted for fixed coverage ratio (table below), maturity date July 6, 2020 |
|
$ |
222,590 |
|
|
$ |
7,225,745 |
|
| Base Rate Term Loan- interest
rate based on prime rate adjusted for fixed coverage ratio (table below) fixed coverage ratio, maturity date July 6, 2020 |
|
|
– |
|
|
|
7,628,438 |
|
| Note Payable to Bank, due
September 24, 2021. 59 monthly payments of $84,273 with a final payment in the amount of $584,273, interest at 3.8905%, secured
by Equipment |
|
|
4,931,937 |
|
|
|
– |
|
| Note payable to STORE Capital
Acquisitions, LLC, due June 13, 2056, monthly principal and interest payments of $73,970, interest at 9.25% per annum, secured
by land and buildings |
|
|
9,351,796 |
|
|
|
– |
|
| Note Payable to Bank, due
December 31, 2017, with interest at 6.25% |
|
|
198,569 |
|
|
|
– |
|
| Note Payable to Bank, due
December 31, 2017, with interest at 5% |
|
|
249,765 |
|
|
|
– |
|
| Credit line due January
1, 2024, with interest rate of 2.75% |
|
|
– |
|
|
|
669,351 |
|
| Note payable to individual,
payable on demand, interest at 10.0% per annum, unsecured |
|
|
– |
|
|
|
92,441 |
|
| Acquisition note payable,
due September 6, 2016, as amended, non-interest bearing |
|
|
– |
|
|
|
395,251 |
|
| Note payable to individual,
payable within 90 days of a written demand notice, interest at 11% per annum, unsecured |
|
|
206,529 |
|
|
|
– |
|
| Note payable to individual,
payable within 90 days of a written demand notice, interest at 10% per annum, unsecured |
|
|
500,000 |
|
|
|
– |
|
| Note
payable to individual, payable within 120 days of a written demand notice, interest at 8.25% per annum, unsecured |
|
|
225,000 |
|
|
|
– |
|
| Total debt |
|
|
15,886,186 |
|
|
|
16,011,226 |
|
| Less
unamortized debt issuance costs |
|
|
(414,025 |
) |
|
|
– |
|
| Net amount |
|
|
15,472,161 |
|
|
|
16,011,226 |
|
| Less
current portion |
|
|
(1,789,289 |
) |
|
|
(1,443,036 |
) |
| Long-term
portion |
|
$ |
13,682,872 |
|
|
$ |
14,568,190 |
|
|