Notes Payable To Related Party |
3 Months Ended |
|---|---|
May 01, 2021 | |
| Debt Disclosure [Abstract] | |
| Notes Payable To Related Party |
NOTE 12. Notes Payable to Related Party On January 21, 2021, the Company’s Simply Mac subsidiary issued a $400,000 unsecured short-term promissory note to Taylor Capital LLC that was outstanding at January 30, 2021. The note was scheduled to mature, and become due and payable in full, on April 21, 2021 together with a one-time fee of $20,000 plus accrued interest at the rate of 18% per annum compounded monthly. Taylor Capital is wholly owned by Kevin Taylor, the chairman of the Company’s Board of Directors. In March 2021, the note and all accrued interest and fees were repaid in advance of its maturity. Interest expense on the note for the 13 weeks ended May 2, 2021 was $9,000. |