Quarterly report pursuant to Section 13 or 15(d)

Debentures (Tables)

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

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

 

    September 30, 2018     December 31, 2017  
Debentures   $ 17,837,502     $ 17,720,082  
Discount on Debentures     (7,284,194 )     (12,127,634 )
Deferred financing fees     (19,717 )     (224,733 )
      10,533,591       5,367,715  
Less current portion     (10,533,591 )     (1,615,693 )
Debentures   $ -     $ 3,752,022  

Schedule of Payment on Outstanding Debentures

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

 

Period ended September 30,      
2018   $ 2,027,502  
2019   $ 15,810,000  
    $ 17,837,502