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LONG-TERM DEBT (Tables)
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
 
Long-term debt consists of the following at December 31, 2018, 2017 as follows:
 
 
 
Year Ended December 31,
 
 
 
2018
 
 
2017
 
Principal amount
 
$
10,000,000
 
 
$
10,000,000
 
Less unamortized debt acquisition costs
 
 
(105,681
)
 
 
(75,567
)
Plus accrued final fee
 
 
46,875
 
 
 
67,708
 
Subtotal
 
 
9,941,194
 
 
 
9,992,141
 
Less Current maturities
 
 
666,667
 
 
 
4,000,000
 
Long-term debt net of current maturities
 
$
9,274,527
 
 
$
5,992,141
 
Schedule of Principal payments of long-term debt
 
Principal payments of long-term debt are due as follows at December 31, 2018:
 
2019
 
$
666,667
 
2020
 
 
4,000,000
 
2021
 
 
4,000,000
 
2022
 
 
1,333,333
 
Total
 
$
10,000,000