Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt

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Long-Term Debt
3 Months Ended
Mar. 31, 2017
Long-Term Debt [Abstract]  
Long-Term Debt

Note 6 – Long-Term Debt

 

Detail of non-related party long term debt:

 

    March 31,     December 31,  
    2017     2016  
Notes payable to various banks, to finance various equipment purchases, payable in monthly installments of between $1,187 and $10,107, with interest rates ranging from 2.39% to 9.63%, maturing from December 30, 2017 through November 2022   $ 778,731     $ 476,340  
Less current maturities of long-term debt     (213,988 )     (155,889 )
Long-term debt, net of current portion   $ 564,743     $ 320,451  

 

The aggregate annual maturities of non-related party long-term debt are as follows:

 

Period Ended December 31:      
2017 (Remaining)     165,269  
2018     206,996  
2019     213,369  
2020     93,795  
2021     73,522  
Thereafter     25,780  
Total   $ 778,731