Quarterly report pursuant to Section 13 or 15(d)

Debentures (Tables)

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Debentures (Tables)
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Debentures

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

 

    March 31, 2018     December 31, 2017  
Debentures   $ 15,758,851     $ 17,720,082  
Discount on Debentures     (8,424,756 )     (12,127,634 )
Deferred financing fees     (94,175 )     (224,733 )
      7,239,921       5,367,715  
Less current portion     (3,445,841 )     (1,615,693 )
Debentures   $ 3,794,079     $ 3,752,022  

Schedule of Payment on Outstanding Debentures

Payment on all outstanding debentures as of March 31, 2018 are due as follows:

 

Period ended December 31,      
2018   5,647,271  
2019   10,111,580  
    $ 15,758,851