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, 2016
Capital Lease Obligations [Abstract]  
Schedule of future minimum lease payments

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

 

As of March 31, 2016   $ 564,411  
Less amount representing interest     (35,021 )
Total obligations under capital leases     529,390  
Less current portion of obligations under capital leases     (245,549 )
Long-term obligations under capital leases   $ 283,841  
Schedule of long-term obligations under capital leases

Long-term obligations under capital leases at March 31, 2016 mature as follows:

 

For the twelve months ending March 31,      
2017   $ 245.549  
2018     260,354  
2019     23,487  
    $ 529,390  
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     (1,053,319 )
    $ 308,676