Annual report pursuant to Section 13 and 15(d)

5. DEBT (Tables)

v3.6.0.2
5. DEBT (Tables)
12 Months Ended
Dec. 31, 2016
Future amortization of financing fees
     
  2017     $ 708,720  
  2018       529,888  
  2019       328,641  
        $ 1,567,249  
Oxford Loan  
Summary of loans
    December 31, 2016   December 31, 2015
         
Gross proceeds   $ 20,000,000     $ 16,000,000  
Less: debt discount, net                
End of term fee     (1,155,157 )     (1,250,194 )
Warrants     (257,201 )     (310,196 )
Financing fees     (154,891 )     (192,398 )
Note payable   $ 18,432,751     $ 14,247,212