Fixed Debt Service

I wanted to address the fixed debt service by looking over the last three years 3Qs.  Just looking at the first one - this year - one may feel a bit of concern.  Sure we are making money, but how do we pay off $32M by the end of next year?  Fair enough.  But now look at the two previous years?  One would  likely choose our present circumstances over the previous years - and still somehow - we made it through those previous years and are still standing tall. 

What happened?  One can see from last years (2010) 3Q that the $41M originally due this year (2011) was pushed out to next year (2012).  Some $17M of the total was paid off and much of what was due in 2011 - is now due in 2012.  Since this took place over the last couple years I would be surprised if - working with our creditors - it does not happen again.  That is unless the books are to a point that more conventional financing can finish off the rest of the debt.  The thing about steady and increasing profits - are they are just the thing to service a conventional debt.

3Q 2011
The following chart is presented to assist the reader in analyzing the Company’s ability to fulfill its fixed debt service requirements (net of note discounts) as of September 30, 2011 and the Company’s ability to meet such obligations:
2011 1,806,322
2012 30,621,973
Total minimum payments due under current and long term obligations $32,428,295
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3Q 2010
The following chart is presented to assist the reader in analyzing the Company’s ability to fulfill its fixed debt service requirements (net of note discounts) as of September 30, 2010 and the Company’s ability to meet such obligations:
2010  $7,077,489
2011  $41,425,518
2012  $39,088
2013  $39088
2014  $39088
2015 and thereafter $474,841
Total minimum payments due under current and long term obligations $49,095,112
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3Q 2009
The following chart is presented to assist the reader in analyzing the Company's ability to fulfill its fixed debt service requirements (net of note discounts) of as of September 30, 2009 and the Company's ability to meet such obligations:
2009  $26,749,698
2010  $6,013,638
2011  $8,483,466
2012  $377,250
2013 and thereafter $173,902
Total minimum payments due under current and long term obligations $41,797,953

SkunK