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v3.7.0.1

Loans Payable (Details Narrative) - USD ($) |  | 1 Months Ended | 6 Months Ended | 12 Months Ended
--- | --- | --- | --- | ---
Dec. 21, 2016 | Mar. 31, 2017 | Jun. 30, 2017 | Jun. 30, 2017
Amortization of debt costs |  |  |  | $ 7,721
Change in fair value of seller's note |  |  |  | $ 68,955
ISP Optics Corp [Member] |  |  |  |
Interest acquired | 100.00% |  |  |
LOC - Avidbank [Member] |  |  |  |
Interest rate basis |  |  |  | Prime Rate
Basis spread on variable rate |  |  |  | 1.00%
Maximum borrowing capacity |  |  | $ 1,000,000 | $ 1,000,000
Borrowing capacity eligible accounts, percentage |  |  | 80.00% | 80.00%
Lower Limit [Member] | LOC - Avidbank [Member] |  |  |  |
Interest rate |  |  | 4.50% | 4.50%
AvidBank Note [Member] |  |  |  |
Interest rate basis | Prime Rate |  |  |
Basis spread on variable rate | 2.00% |  |  |
Debt discount | $ 72,000 |  |  |
Term of payments | 5 years |  |  |
Face amount of debt | $ 5,000,000 |  |  |
Late payment rate | 5.00% |  |  |
Interest rate |  |  | 6.00% | 6.00%
Amortization of debt costs |  |  | $ 7,200 |
Fixed charge coverage ratio |  |  | 1.15 | 1.15
Asset coverage ratio |  |  | 1.50 | 1.50
AvidBank Note [Member] | On or Prior to 12/21/2018 [Member] |  |  |  |
Prepayment fee |  |  |  | 1.00%
AvidBank Note [Member] | After 12/21/2017 and on or Prior to 12/21/2018 [Member] |  |  |  |
Prepayment fee |  |  |  | 0.75%
AvidBank Note [Member] | After 12/21/2018 before 12/21/2019 [Member] |  |  |  |
Prepayment fee |  |  |  | 0.50%
AvidBank Note [Member] | After 12/21/2019 before 12/21/2020 [Member] |  |  |  |
Prepayment fee |  |  |  | 0.25%
AvidBank Note [Member] | Lower Limit [Member] |  |  |  |
Interest rate | 5.50% |  |  |
Sellers Note [Member] | ISP Optics Corp [Member] |  |  |  |
Carrying amount of debt |  |  | $ 5,700,000 | $ 5,700,000
Working capital adjustment - repayment of debt |  | $ 292,816 |  |
Face amount of debt | $ 6,000,000 |  |  |
Interest rate | 10.00% |  |  |
Default interest rate | 12.00% |  |  |
Prinipal amount in excess that will accrue interest | $ 2,700,000 |  |  |
Risk adjusted discount rate | 7.50% |  |  |
Fair value of loan payable | $ 6,327,208 |  |  |

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