Quarterly report pursuant to Section 13 or 15(d)

Note Payable (Tables)

v3.10.0.1
Note Payable (Tables)
9 Months Ended
Sep. 30, 2018
Notes Payable [Abstract]  
Carrying Value of Note Payable

As of September 30, 2018, the Company’s note payable is summarized as follows:

 

Note Payable

 

Carrying Value

 

Principal balance outstanding

 

$

19,924,203

 

Less: Loan procurement costs, net

 

 

(550,789

)

Total note payable, net

 

$

19,373,414

 

 

Future Principal Payment Requirements

The following table represents the future principal payment requirements on the note payable as of September 30, 2018:

 

2018

 

$

153,190

 

2019

 

 

472,600

 

2020

 

 

492,797

 

2021

 

 

513,857

 

2022

 

 

535,816

 

2023 and thereafter

 

 

17,755,943

 

Total principal payments

 

 

19,924,203

 

Less: Loan procurement costs, net

 

 

(550,789

)

Total note payable

 

$

19,373,414