Quarterly report pursuant to Section 13 or 15(d)

Capital lease obligations (Tables)

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Capital lease obligations (Tables)
3 Months Ended
Mar. 31, 2015
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 March 31, 2015   $ 807,570  
Less amount representing interest     (71,972 )
Total obligations under capital leases     735,598  
Less current portion of obligations under capital leases     (223,869 )
Long-term obligations under capital leases   $ 511,729  
Summary of long-term obligations under capital leases

Long-term obligations under capital leases at March 31, 2015 mature as follows:

 

For the Twelve Months Ending March 31,      
2015   $ 223,869  
2016     237,676  
2017     252,336  
2018     21,717  
    $ 735,598  
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     1,256,134  
    $ 347,327