Long Term Debt |
NOTE 8 Long Term Debt
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Year ended December 31, |
Notes payable of Biozone Labs |
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2012 |
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2011 |
Capitalized lease obligations bearing interest at rates ranging from 8.6% to 16.3%, |
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$ 192,323 |
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$ 307,255 |
payable in monthly installments of $168 to $1,589, inclusive of interest |
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City of Pittsburg Redevelopment Agency, 3% interest, payable in monthly installments |
221,190 |
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257,639 |
of $3,640 inclusive of interest |
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Other |
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80,000 |
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90,000 |
Notes payable of 580 Garcia Properties |
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Mortgage payable of 580 Garcia collateralized by the land and building |
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2,582,818 |
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2,643,438 |
payable in monthly installments of $20,794, inclusive of interest at 7.24% per annum |
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$ 3,076,331 |
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$ 3,298,332 |
Less: current portion |
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181,752 |
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260,741 |
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2,894,579 |
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3,037,591 |
Long-term debt (excluding capital leases) matures as follows:
12/31/2013 |
112,435 |
12/31/2014 |
118,446 |
12/31/2015 |
124,856 |
12/31/2016 |
111,151 |
12/31/2017 |
96,969 |
Thereafter |
2,512,474 |
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Future minimum annual lease payments for capital leases in
effect as of December 31, 2012 are as follows:
12/31/2013 |
69,316 |
12/31/2014 |
58,214 |
12/31/2015 |
35,371 |
12/31/2016 |
29,421 |
12/31/2017 |
- |
Thereafter |
- |
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