Annual report pursuant to Section 13 and 15(d)

Notes Payable Related to Acquisitions (Tables)

v3.5.0.1
Notes Payable Related to Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2015
Aug. 31, 2014
Debt Instrument [Line Items]    
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
A detail of the impact of adopting ASU 2015-03 on the Company’s Notes Payable Related to Acquisitions, net of unamortized discount balances, as of December 31, 2015 and December 31, 2014, is as follows
 
 
 
December 31, 2015
 
December 31, 2014
 
Notes payable related to acquisitions, gross
 
$
23,788,065
 
$
16,760,000
 
Less: Unamortized debt discount (deferred financing costs)
 
 
(302,892)
 
 
(291,691)
 
Notes payable related to acquisitions, net
 
$
23,485,173
 
$
16,468,309
 
 
Schedule of Debt [Table Text Block]
A rollforward of the unamortized debt discount balance as of December 31, 2015 is as follows:
 
Balance as of January 1, 2015, net
 
$
291,691
 
Additions – West Mifflin financing
 
 
137,736
 
Debt discount amortization expense
 
 
(126,535)
 
Balance as of December 31, 2015, net
 
$
302,892
 
 
A rollforward of the unamortized debt discount balance as of December 31, 2014 is as follows:
 
Balance as of September 1, 2014, net
 
$
309,543
 
Additions – Asheville financing
 
 
21,577
 
Debt discount amortization expense
 
 
(39,429)
 
Balance as of December 31, 2014, net
 
$
291,691
 
 
Schedule of Maturities of Long-term Debt [Table Text Block]  
Scheduled principal payments due on debt as of August 31, 2014, are as follows:
 
Year Ending August 31,
 
 
 
 
2015
 
$
206,655
 
2016
 
 
319,965
 
2017
 
 
14,533,380
 
Total Payments
 
$
15,060,000
 
West Mifflin Note Payable [Member]    
Debt Instrument [Line Items]    
Schedule of Maturities of Long-term Debt [Table Text Block]
As of December 31, 2015, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows:
 
2018
 
$
22,044
 
2019
 
 
136,007
 
2020
 
 
7,219,449
 
Total
 
$
7,377,500
 
 
Asheville Note Payable [Member]    
Debt Instrument [Line Items]    
Schedule of Maturities of Long-term Debt [Table Text Block]
As of December 31, 2015, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows:
 
2016
 
$
52,719
 
2017
 
 
1,609,382
 
Total
 
$
1,662,101
 
 
Omaha Note Payable [Member]    
Debt Instrument [Line Items]    
Schedule of Maturities of Long-term Debt [Table Text Block]
As of December 31, 2015, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows:
 
2016
 
$
325,323
 
2017
 
 
14,423,141
 
Total
 
$
14,748,464