Quarterly report pursuant to Section 13 or 15(d)

Note Payable (Tables)

v3.19.3
Note Payable (Tables)
9 Months Ended
Sep. 30, 2019
Notes Payable [Abstract]  
Carrying Value of Note Payable

The carrying value of the Company’s note payable is summarized as follows:

 

Note Payable

 

September 30, 2019

 

 

December 31, 2018

 

Principal balance outstanding

 

$

19,458,149

 

 

$

19,809,511

 

Less: Loan procurement costs, net

 

 

(509,048

)

 

 

(540,261

)

Total note payable, net

 

$

18,949,101

 

 

$

19,269,250

 

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

 

2019

 

$

159,736

 

2020

 

 

492,797

 

2021

 

 

513,857

 

2022

 

 

535,816

 

2023

 

 

558,714

 

2024 and thereafter

 

 

17,197,229

 

Total principal payments

 

$

19,458,149