Subsequent Events

12 Months Ended

Sep. 30, 2014

Subsequent Events

On October 16, 2014, the Company sold its wholly owned interest in 1957 Delamo, LLC, the operator of its Vivid Cabaret in Rancho Dominguez, California for $250,000 in cash. The Company recognized an impairment on the sale of $1.4 million as of September 30, 2014.

On October 30, 2014, a 51% owned subsidiary of the Company (“Robust”) acquired certain assets and liabilities of Robust Energy LLC for $200,000 in cash and 200,000 shares of its common stock for a total purchase price of $5.0 million. The Company has also agreed to issue 50,000 shares of the Company’s common stock to the two principals of Robust Energy LLC if Robust has net income of at least $1 million during the 2015 calendar year. The principals will enter into a Lock-Up Agreement with the Company in connection with the issuance by the Company of its shares of common stock as explained above, which will provide that none of the shares will be sold for a period of one year after the date of issuance and, thereafter, neither principal will sell more than 1/6th of the their respective shares per month that they receive in connection herewith.

Robust is an energy drink distributor, targeting the on premises bar and mixer market. At this time, the Company has not allocated the purchase price to the acquired assets.