Quarterly report pursuant to Section 13 or 15(d)

Capital Lease Obligations (Tables)

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Capital Lease Obligations (Tables)
9 Months Ended
Sep. 30, 2014
Capital Lease Obligations [Abstract]  
Summary of future minimum lease payments under capital leases
Future minimum lease payments under the capital leases are as follows:
 
As of September 30, 2014
 
$
938,527
 
Less amount representing interest
 
 
(95,920)
 
Total obligations under capital leases
 
 
842,607
 
Less current portion of obligations under capital leases
 
 
(217,269)
 
Long-term obligations under capital leases
 
$
625,338
 
Summary of long-term obligation under capital leases
Long-term obligations under capital leases at September 30, 2014 mature as follows:
 
For The Twelve Months Ending September 30,
 
 
 
2015
 
$
217,269
 
2016
 
 
230,669
 
2017
 
 
244,896
 
2018
 
 
149,773
 
 
 
$
842,607
 
Summary of assets held under capital leases included in property and equipment
The assets held under the capital leases are included in property and equipment as follows:
 
Equipment
 
$
1,603,461
 
Less: accumulated depreciation
 
 
(1,102,388)
 
 
 
$
501,073