Note 6 - Long Term Debt

6 Months Ended

Mar. 31, 2017

Long Term Debt

Long term debt consisted of the following at:

	March 31, 2017		September 30, 2016

Note payable to Keehan Trust Funding, LLC as amended on February 16, 2016 in the amount of $1,600,000. This note is secured by the assignment of potential proceeds from a claim against a terminated government contract with a value in excess of $4,700,000.		1,066,500		1,111,500

Note payable to Ford Credit dated October 1, 2014 in the amount of $32,929 payable in 48 monthly installments of $744, secured by a vehicle		-		17,187

Capital lease obligation dated July 16, 2015, bearing interest at 8%, payable at 3,355 monthly with a final payment due June 16, 2020, secured by equipment.		115,993		131,495

Various notes payable to EIN CAP in various amounts with no stipulated interest rate, and various maturity dates, unsecured, totaling $154,452 net of discount of $35,248 and $102,335 net of discount of $29,975 respectively.		119,204		72,360

Various notes payable to Complete Business Solutions in various amounts, with no stipulated interest rate, and various maturity dates, unsecured, totaling $2,400,546 net of discount of $683,620 and $1,173,521 net of discount of $185,046 respectively		1,716,926		988,475

Various notes payable to Yellowstone Capital in various amounts with no stipulated interest rate, and various maturity dates, unsecured, totaling $370,235 net of discount of $88,204 and $212,382 net of discount of $66,944 respectively/		282,031		145,438

Note payable to Sunshine Bank dated January 28, 2016 as a revolving credit line, bearing interest at Prime plus 1%, with a maturity of January 31, 2021, secured by the assets of BT Twiss Transport LLC.		2,000,000		1,163,853

Note payable to Sunshine Bank dated January 28, 2016 in the amount of $2,000,000, bearing interest at 4.75%, with a maturity date of January 31, 2021, net of unamortized loan costs of $34,033 and $38,472 respectively, secured by the assets of BT-Twiss Transport, LLC.		1,700,066		1,820,594

Various notes payable to Power Up Lending Group, LTD in various amounts, with no stipulated interest rate, and various maturity dates, unsecured, totaling $244,286 net of discount of $43,714 and $454,752 net of discount of $89,601 respectively		200,572		365,151

Financing agreements for the purchase of insurance through Bank Direct payable in monthly installments		5,006		21,500

Note payable to Sunshine Bank dated September 30, 2016 as a revolving credit line, bearing interest at Prime plus 1%, with a maturity of January 31, 2021, secured by the assets of Twiss Transport, Inc. net of unamortized loan costs of $49,292 and $54,769 respectively.		5,428,112		6,408,431

Various equipment financing contracts for Transport Tractors and Trailers, with various terms and interest rates, secured by equipment		1,101,110		409,820

Various capital lease obligations for Transport Tractors, with various payment terms, secured by equipment		898,478		1,087,613

Various notes payable to Ace Funding in various amounts, with no stipulated interest rate, and various maturity dates, unsecured, totaling $237,105 net of discount of $52,513.		184,592			-

Note payable to RAM Capital, with no stipulated interest rate, unsecured.		122,205			-

Note payable to Caymus Funding, Inc., with no stipulated interest rate, unsecured		281,818			-

Note payable to New Era, with no stipulated interest rate, unsecured.		93,030			-

Two promissory notes payable to LiftForward, Inc., each in the amount of $510,000, each payable in twenty-four monthly installments of $25,997.23, with a maturity date of January 28, 2019, net of unamortized loan costs of $47,208.		937,935			-

Convertible promissory note payable to Power Up Lending Group LTD in the amount of $53,000, bearing interest at 8% per annum, with a maturity date of October 28, 2017.		53,000			-

		16,306,578			13,743,417

Less current portion pertaining to continuing operations		(8,801,080	)		(4,553,201	)

Less current portion pertaining to discontinued operations		-			(1,111,500	)

Less long term portion associated with discontinued operations		-			-
	$	7,505,498		$	8,078,716

Principal maturities of long term debt for the next

five

years and thereafter are as follows:

Period ended March 31,
2018	$	8,801,080
2019		2,418,235
2020		1,770,549
2021		2,460,350
2022		846,847
Thereafter		9,517
	$	16,306,578

These principal maturities are presented net of discounts and unamortized loan costs in the amount of

$1,033,832.

Bulova Technologies Group, Inc. 10-Q/A