| LONG-TERM DEBT |
| |
Long term debt is as follows: |
|
September 30, 2016 |
|
| |
|
|
|
|
| |
8.0%, Hitachi Capital, payable $631.13 monthly beginning September 2015 through August 2019, secured by delivery equipment with a book value of $29,508 |
|
$ |
19,644 |
|
| |
|
|
|
|
|
| |
3.5%, Wells Fargo Equipment Finance, payable $518.96 monthly beginning April 2016 through March 2021, secured by warehouse equipment with a book value of $28,527 |
|
|
25,449 |
|
| |
|
|
|
|
|
| |
10.926%, RMT Equipment, payable 1154.79 monthly beginning September 2016 through October 2018, security be delivery equipment with a book value of $37,523 |
|
|
25,289 |
|
| |
|
|
|
|
|
| |
|
|
$ |
70,382 |
|
| |
Less Current Maturities |
|
|
(23,443 |
) |
| |
Total Long-Term Debt |
|
$ |
46,939 |
|
Future Debt Maturities – A schedule of expected debt payments and the portion allocated to principal follows:
| |
Twelve Months Ending September 30, |
|
Total
Payment |
|
|
Allocated to
Principal |
|
| |
2017 |
|
$ |
27,779 |
|
|
$ |
23,443 |
|
| |
2018 |
|
|
27,779 |
|
|
|
25,508 |
|
| |
2019 |
|
|
13,520 |
|
|
|
12,835 |
|
| |
2020 |
|
|
6,228 |
|
|
|
6,023 |
|
| |
2021 |
|
|
2,596 |
|
|
|
2,573 |
|
| |
|
|
$ |
77,902 |
|
|
$ |
70,382 |
|
|