Annual report pursuant to Section 13 and 15(d)

Notes Payable (Tables)

v3.3.1.900
Notes Payable (Tables)
12 Months Ended
Dec. 31, 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     47.5% - 47.7%  
Risk free interest rates     1.73% - 1.76%  
Expected life (in years)     5.0  

 

Schedule of principal payments with respect to notes payable maturities

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

 

Years ending December 31,          
2016     $ 4,289,444  
2017       -  
2018       -  
2019       3,725,000  
2020       3,000,000  
Total scheduled principal payments       11,014,444  
Less unamortized discounts at December 31, 2015       (2,901,596 )
      $ 8,112,848