Note Payable (Tables)

6 Months Ended

Jun. 30, 2018

Notes Payable [Abstract]

Carrying Value of Note Payable

As of June 30, 2018, the Company’s note payable is summarized as follows:

Note Payable	Carrying Value
Principal balance outstanding	$	20,000,000
Less: Loan procurement costs, net		(561,377	)
Total note payable, net	$	19,438,623

Future Principal Payment Requirements

The following table represents the future principal payment requirements on the note payable as of June 30, 2018:

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		(561,377	)
Total note payable	$	19,438,623