Notes Payable and Convertible Notes (Tables)

12 Months Ended

Dec. 31, 2016

Notes Payable and Convertible Notes [Abstract]

Schedule of long-term debt

	December 31, 2016			December 31, 2015
Goldman Sachs - Tranche A Term Loan - LIBOR Interest	$	40,000,000		$	40,000,000
Goldman Sachs – Revolver		3,195,000			-
Convertible Notes Payable		1,250,000			1,250,000
Capitalized lease - financing company, secured by equipment		12,566			37,096
Equipment loans		270,225			395,119
Notes payable to seller of Meridian, subordinated debt		1,475,000			1,475,000
Less: debt issuance cost/fees		(1,195,797	)		(1,416,697	)
Less: debt discount		(1,810,881	)		(2,152,603	)
Total debt		43,196,113			39,587,915
Less: current portion		(1,385,380	)		(417,119	)
Long term debt less current portion	$	41,810,733		$	39,170,796

Schedule of fund distribution

Aggregate outstanding principal balance of the Notes	$	10,845,043
Aggregate accrued but unpaid interest on the Notes		82,844
Prepayment Premium1		325,351
Accrued PIK		9,941
Tax Liability		150,000
Accrued but unpaid fees and expenses		4,000
Payoff Amount	$	11,417,179

Schedule of fair value calculations

	December 31,			December 31,
	2016			2015
Purchase Price	$	450,000		$	450,000
Time to expiration		12/22/2023			12/22/2023
Risk-free interest rate		1.42	%		2.15	%
Estimated volatility		60	%		45	%
Dividend		0	%		0	%
Stock price	$	10.34		$	38.00
Expected forfeiture rate		0	%		0	%

Schedule of change in the market value

The change in the market value for the period ending December 31, 2016 is as follows:

Fair value of warrants @ December 31, 2015	$	2,820,000
Unrealized gain on derivative liability		1,570,000
Fair value of warrants @ December 31, 2016	$	1,250,000

The change in the market value for the period ending December 31, 2015 is as follows:

Fair value of warrants @ December 31, 2014	$	-
Issuance of Praesdian warrants @ August 6, 2015		904,427
Unrealized loss on derivative liability		1,004,213
Cancellation of Praesidian warrants @ December 22, 2015		(1,908,640	)
Issuance of Goldman warrants @ December 22, 2015		2,160,000
Unrealized loss on derivative liability		660,000
Fair value of warrants @ December 31, 2015	$	2,820,000

Schedule of future minimum payments on notes excluding related party notes

2017	$	1,423,000
2018		2,587,000
2019		3,010,000
2020		37,706,000
2021		1,000
Thereafter		1,475,000
Total	$	46,202,000