Quarterly report pursuant to Section 13 or 15(d)

Debentures (Tables)

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Debentures (Tables)
6 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Debentures

The carrying amount of all outstanding debentures as of June 30, 2018 (unaudited), and December 31, 2017 is as follows:

 

    June 30, 2018     December 31, 2017  
Debentures   $ 17,317,061     $ 17,720,082  
Discount on Debentures     (7,324,327 )     (12,127,634 )
Deferred financing fees     (30,422 )     (224,733 )
      9,962,312       5,367,715  
Less current portion     (1,833,705 )     (1,615,693 )
Debentures   $ 8,128,607     $ 3,752,022  

Schedule of Payment on Outstanding Debentures

Payment on all outstanding debentures as of June 30, 2018 is due as follows:

 

Period ended December 31,      
2018   $ 2,875,481  
2019   $ 14,441,580  
    $ 17,317,061