Quarterly report pursuant to Section 13 or 15(d)

Note Payable (Tables)

v3.19.2
Note Payable (Tables)
6 Months Ended
Jun. 30, 2019
Notes Payable [Abstract]  
Carrying Value of Note Payable

As of June 30, 2019, the Company’s note payable is summarized as follows:

 

Note Payable

 

Carrying Value

 

Principal balance outstanding

 

$

19,576,497

 

Less: Loan procurement costs, net

 

 

(519,390

)

Total note payable, net

 

$

19,057,107

 

Future Principal Payment Requirements The following table represents the future principal payment requirements on the note payable as of June 30, 2019:

 

2019

 

$

278,084

 

2020

 

 

492,797

 

2021

 

 

513,857

 

2022

 

 

535,816

 

2023

 

 

558,714

 

2024 and thereafter

 

 

17,197,229

 

Total principal payments

 

 

19,576,497

 

Less: Loan procurement costs, net

 

 

(519,390

)

Total note payable

 

$

19,057,107