Quarterly report pursuant to Section 13 or 15(d)

Notes Payable (Tables)

v3.3.0.814
Notes Payable (Tables)
9 Months Ended
Sep. 30, 2015
Notes Payable [Abstract]  
Schedule of fair value of warrants

Assumptions used in calculating the fair value of the warrants using the Black-Scholes valuation model were:

         
Dividend yield     0%  
Expected volatility     46.7% – 47.8%  
Risk free interest rates     1.58% – 1.75%  
Expected life (in years)     5.5 – 6.0  
Schedule of principal payments with respect to notes payable maturities

Scheduled principal payments with respect to notes payable are summarized as follows:

         
Years ending December 31,        
2015      
2016   $ 4,289,444  
2017      
2018      
2019     3,725,000  
Thereafter     3,000,000  
Total scheduled principal payments     11,014,444  
Less, unamortized discounts at September 30, 2015     (3,017,961 )
    $ 7,996,483