Annual report pursuant to Section 13 and 15(d)

Capital Lease Obligations (Tables)

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Capital Lease Obligations (Tables)
12 Months Ended
Dec. 31, 2015
Capital Lease Obligations [Abstract]  
Schedule of future minimum lease payments

Future minimum lease payments under the capital leases are as follows:

 

As of December 31, 2015   $ 631,217  
Less amount representing interest     (42,651 )
Total obligations under capital leases     588,566  
Less current portion of obligations under capital leases     (241,983 )
Long-term obligations under capital leases   $ 346,583  
Schedule of long-term obligations under capital leases

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

 

Year ending December 31,      
2016   $ 241,983  
2017     234,868  
2018     111,715  
    $ 588,566  
Schedule of assets held under the capital leases

The assets held under the capital leases are included in property and equipment as follows:

 

Equipment   $ 1,361,995  
Less: accumulated depreciation     1,005,886  
    $ 356,109