| Components of Notes Payable and Capital Leases |
Notes payable and capital leases consisted of the following:
| |
|
|
|
As of March 31, 2015 |
|
| |
|
|
|
|
|
|
Current |
|
|
Long-Term |
|
| Name |
|
|
|
Total |
|
|
Maturities |
|
|
Maturities |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| D&O Insurance |
|
(1) |
|
$ |
130,283 |
|
|
$ |
130,283 |
|
|
$ |
- |
|
| Habib Bank Line of Credit |
|
(2) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Bank Overdraft Facility |
|
(3) |
|
|
22,374 |
|
|
|
22,374 |
|
|
|
- |
|
| HSBC Loan |
|
(4) |
|
|
499,465 |
|
|
|
301,198 |
|
|
|
198,267 |
|
| Term Finance Facility |
|
(5) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Loan Payable Bank |
|
(6) |
|
|
1,940,052 |
|
|
|
1,940,052 |
|
|
|
- |
|
| Loan From Related Party |
|
(7) |
|
|
119,655 |
|
|
|
119,655 |
|
|
|
- |
|
| |
|
|
|
|
2,711,829 |
|
|
|
2,513,562 |
|
|
|
198,267 |
|
| Subsidiary Capital Leases |
|
(8) |
|
|
871,857 |
|
|
|
475,958 |
|
|
|
395,899 |
|
| |
|
|
|
$ |
3,583,686 |
|
|
$ |
2,989,520 |
|
|
$ |
594,166 |
|
| |
|
|
|
As of June 30, 2014 |
|
| |
|
|
|
|
|
|
Current |
|
|
Long-Term |
|
| Name |
|
|
|
Total |
|
|
Maturities |
|
|
Maturities |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| D&O Insurance |
|
(1) |
|
$ |
54,547 |
|
|
$ |
54,547 |
|
|
$ |
- |
|
| Habib Bank Line of Credit |
|
(2) |
|
|
2,438,844 |
|
|
|
2,438,844 |
|
|
|
- |
|
| Bank Overdraft Facility |
|
(3) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| HSBC Loan |
|
(4) |
|
|
835,899 |
|
|
|
346,138 |
|
|
|
489,761 |
|
| Term Finance Facility |
|
(5) |
|
|
632,527 |
|
|
|
253,011 |
|
|
|
379,516 |
|
| Loan Payable Bank |
|
(6) |
|
|
2,024,087 |
|
|
|
2,024,087 |
|
|
|
- |
|
| Loan From Related Party |
|
(7) |
|
|
322,600.00 |
|
|
|
194,740.00 |
|
|
|
127,860.00 |
|
| |
|
|
|
|
6,308,504 |
|
|
|
5,311,367 |
|
|
|
997,137 |
|
| Subsidiary Capital Leases |
|
(8) |
|
|
1,014,834 |
|
|
|
479,891 |
|
|
|
534,943 |
|
| |
|
|
|
$ |
7,323,338 |
|
|
$ |
5,791,258 |
|
|
$ |
1,532,080 |
|
|
| Schedule of Aggregate Minimum Future Lease Payments under Capital Leases |
Following is the aggregate minimum future lease payments
under capital leases as of March 31, 2015:
| |
|
Amount |
|
| Minimum Lease Payments |
|
|
|
|
| Due FYE 3/31/16 |
|
$ |
547,706 |
|
| Due FYE 3/31/17 |
|
|
345,959 |
|
| Due FYE 3/31/18 |
|
|
78,162 |
|
| Total Minimum Lease Payments |
|
|
971,827 |
|
| Interest Expense relating to future periods |
|
|
(99,970 |
) |
| Present Value of minimum lease payments |
|
|
871,857 |
|
| Less: Current portion |
|
|
(475,958 |
) |
| Non-Current portion |
|
$ |
395,899 |
|
|