Note Payable (Tables)

12 Months Ended

Dec. 31, 2017

Notes Payable [Abstract]

Carrying Value of Note Payable

As of December 31, 2017 and 2016 the carrying value of the Company’s note payable is summarized as follows:

Note Payable	December 31, 2017			December 31, 2016
Principal balance outstanding	$	20,000,000		$	20,000,000
Less: Loan procurement costs, net		(582,595	)		(625,029	)
Total note payable, net	$	19,417,405		$	19,374,971

Future Principal Payment Requirements

The following table represents the future principal payment requirements on the note payable as of December 31, 2017:

2018	$	228,987
2019		472,600
2020		492,797
2021		513,857
2022		535,816
2023 and thereafter		17,755,943
Total principal payments		20,000,000
Less: Loan procurement costs, net		(582,595	)
Total note payable	$	19,417,405