Quarterly report pursuant to Section 13 or 15(d)

Capital Lease Obligations (Tables)

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Capital Lease Obligations (Tables)
6 Months Ended
Jun. 30, 2016
Capital Lease Obligations [Abstract]  
Schedule of future minimum lease payments

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

 

As of June 30, 2016   $ 496,899  
Less amount representing interest     (27,555 )
Total obligations under capital leases     469,344  
Less current portion of obligations under capital leases     (249,168 )
Long-term obligations under capital leases   $ 220,176  
Schedule of long-term obligations under capital leases

Long-term obligations under capital leases at June 30, 2016 mature as follows:

 

For the twelve months ending  June 30,      
2017   $ 249,259  
2018     220,175  
    $ 469,434  
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     (1,113,292 )
    $ 248,703