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v3.8.0.1

Loans Payable (Details Narrative) - USD ($) |  | 1 Months Ended | 6 Months Ended |
--- | --- | --- | --- | ---
Dec. 21, 2016 | Mar. 31, 2017 | Dec. 31, 2017 | Mar. 21, 2017
Amortization of debt costs |  |  | $ 7,721 |
Change in fair value of seller's note |  |  | $ 71,505 |
ISP Optics Corp [Member] |  |  |  |
Interest acquired | 100.00% |  |  |
Revolving Line - Avidbank [Member] |  |  |  |
Interest rate basis |  |  | Prime Rate |
Basis spread on variable rate |  |  | 1.00% |
Maximum borrowing capacity |  |  | $ 1,000,000 |
Borrowing capacity eligible accounts, percentage |  |  | 80.00% |
Lower Limit [Member] | Revolving Line - Avidbank [Member] |  |  |  |
Interest rate |  |  | 4.50% |
AvidBank Note [Member] |  |  |  |
Interest rate basis | Prime Rate |  |  |
Basis spread on variable rate | 2.00% |  |  |
Maximum amount of indebtness secured by permitted liens | $ 600,000 |  |  |
Amount held in foreign financial instustions per LSA | 1,000,000 |  |  |
Debt discount | $ 72,000 |  |  |
Term of payments | 5 years |  |  |
Face amount of debt | $ 5,000,000 |  |  |
AvidBank Note [Member] | ISP Optics Corp [Member] |  |  |  |
Face amount of debt | $ 5,000,000 |  |  |
AvidBank Note [Member] | On or Prior to 12/21/2018 [Member] |  |  |  |
Prepayment fee (percent) |  |  | 1.00% |
AvidBank Note [Member] | After 12/21/2017 and on or Prior to 12/21/2018 [Member] |  |  |  |
Prepayment fee (percent) |  |  | 0.75% |
AvidBank Note [Member] | After 12/21/2018 before 12/21/2019 [Member] |  |  |  |
Prepayment fee (percent) |  |  | 0.50% |
AvidBank Note [Member] | After 12/21/2019 before 12/21/2020 [Member] |  |  |  |
Prepayment fee (percent) |  |  | 0.25% |
AvidBank Note [Member] | Lower Limit [Member] |  |  |  |
Interest rate | 5.50% |  |  |
First Amendment to Amend LSA [Member] |  |  |  |
Maximum amount of indebtness secured by permitted liens |  |  | $ 800,000 |
Late payment rate |  |  | 5.00% |
Interest rate |  |  | 6.50% |
Fixed charge coverage ratio |  |  | 1.15 |
Asset coverage ratio |  |  | 1.50 |
Sellers Note [Member] | ISP Optics Corp [Member] |  |  |  |
Carrying amount of debt |  |  | $ 5,700,000 | $ 5,704,439
Working capital adjustment - repayment of debt |  | $ 292,816 |  |
Term of payments | 5 years |  |  |
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 | $ 6,327,200 |  |  |
Fair value premium |  |  | $ 140,000 |

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