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Related Party Transactions (Summary of Assets Contributed and Liabilities Assumed) (Details) (Infusion Brands, Inc. ("Infusion") [Member], USD $)
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1 Months Ended | |
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Mar. 31, 2014
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Jun. 30, 2014
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Infusion Brands, Inc. ("Infusion") [Member]
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| Related Party Transaction [Line Items] | ||
| Cash | $ 31,161 | |
| Note receivable | 711,220 | 711,000 |
| Interest receivable | 259,584 | 292,000 |
| Property and equipment, net | 6,660 | |
| Deposits | 5,392 | |
| Total IBI assets contributed to Infusion | 1,014,017 | |
| Note payable | (11,000,000) | |
| Total liabilities assumed | (11,000,000) | |
| Net liabilities assumed by Infusion | (9,985,983) | |
| Forgiveness of debt | 20,167,184 | |
| Contribution to capital | $ 10,181,201 | |
| Interest rate on note receivable | 18.00% |
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- Definition
Per related party transaction contribution and assumption agreement, the sum of the carrying amounts as of the reported date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the amount recognized as of the reported date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the amount of contribution to capital. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the amount of indebtedness forgiven by the holder of the debt instrument. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the carrying amount of the asset transferred to a related party to serve as a deposit, which typically serves as security against failure by the transferor to perform under terms of an agreement. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the carrying amount as of the reported date of interest earned but not received. Also called accrued interest or accrued interest receivable. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the sum of the carrying amounts as of the reported date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, amounts due from parties associated with the reporting entity as evidenced by a written promise to pay. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the aggregate carrying amount of all types of notes payable, as of the reported date. No definition available.
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- Definition
Per related party transaction contribution and assumption agreement, the amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. No definition available.
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- Details
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- Definition
Identify the stated interest rate per the agreement, for example, leasing and debt arrangements between related parties. No definition available.
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