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FAIR VALUE
3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value

8.       Fair Value

 

Fair Value

 

At March 31, 2019 and December 31, 2018, the fair values of cash, accounts receivable, accounts payable and accrued expenses approximated their carrying values because of the short-term nature of these instruments.

 

   March 31, 2019 (restated) 
   Carrying Amount   Fair Value 
Debt        
Line of credit and long-term debt  $29,846,667   $29,846,667 
     
   December 31, 2018 (restated) 
   Carrying Amount   Fair Value 
Debt        
Line of credit and long-term debt  $30,349,904   $30,349,904 

 

We estimated the fair value of debt using market quotes and calculations based on market rates.