XML 18 R41.htm IDEA: XBRL DOCUMENT v3.19.2
Acquisitions and Disposition (Details Narrative) - USD ($)
 1 Months Ended 9 Months Ended
Mar. 21, 2019
Jan. 24, 2019
Nov. 05, 2018
Nov. 01, 2018
Nov. 01, 2018
Sep. 25, 2018
Jul. 31, 2019
Jun. 30, 2019
Apr. 30, 2019
Nov. 30, 2018
Oct. 31, 2018
Jun. 30, 2019
Business Acquisition [Line Items]                        
Total sales price                     $ 1,000,000  
Acquisition cash paid       $ 6,000,000             375,000  
Note payable   $ 1,150,000                 $ 625,000  
Interest rate   8.00%       7.00%            
Business acquisition disposition description                     The Company sold its nightclub in Philadelphia for a total sales price of $1.0 million, payable $375,000 in cash at closing and a $625,000 9% note payable over a 10-year period. The note is payable interest-only for twelve months at the conclusion of which time a balloon payment of $250,000 is due, and then the remainder of the principal and interest is payable in 108 equal installments of $5,078 per month until October 2028. The buyer will lease the property from the Company's real estate subsidiary under the following terms: $36,000 per month lease payments for ten years; renewal option for a succeeding ten years at a minimum of $48,000 per month; lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028.  
Balloon payment                     $ 250,000  
Installment amount                     5,078  
Operating lease payments                     $ 36,000  
Operating lease term                     10 years  
Operating lease amount                     $ 48,000  
Payment to acquire property                     $ 6,000,000  
Operating lease description                     Lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028.  
Gain on sale transaction                     $ 879,000  
Total consideration acquired       10,500,000                
Acquisition-related costs       37,000                
Revenues       $ 3,400,000                
Borrowings from related party         $ 500,000              
Maturity date           May 31, 2019            
Assets held for sale   $ 1,400,000                    
Proceeds from sale of property $ 1,400,000             $ 350,000 $ 1,100,000 $ 868,000    
Gain loss on sale of property 628,000             376,000 331,000 273,000    
Repayments of debt $ 980,000             331,000 $ 942,000 $ 945,500    
Payments to acquire assets   163,000                    
Property taxes   $ 87,000                    
Notes payable, period   3 years                    
Preliminary gain on the sale transaction                       $ 383,000
Aircraft [Member]                        
Business Acquisition [Line Items]                        
Proceeds from sale of property               690,000        
Gain loss on sale of property               9,000        
Repayments of debt               666,000        
First 35 Months [Member]                        
Business Acquisition [Line Items]                        
Note payable               $ 9,619       $ 9,619
Notes payable, period                       35 months
Pittsburgh Club [Member]                        
Business Acquisition [Line Items]                        
Acquisition cash paid     $ 7,500,000                  
Total consideration acquired     15,000,000                  
Acquisition-related costs     134,000                  
Revenues     $ 3,400,000                  
Bank Lender [Member]                        
Business Acquisition [Line Items]                        
Borrowings from related party           $ 5,000,000            
6-Year Seller Financed Note [Member]                        
Business Acquisition [Line Items]                        
Interest rate       7.00% 7.00%              
Total consideration acquired       $ 4,500,000                
2-Year Seller Financed Note [Member] | Pittsburgh Club [Member]                        
Business Acquisition [Line Items]                        
Interest rate     7.00%                  
Total consideration acquired     $ 2,000,000                  
10-Year Seller Financed Note [Member] | Pittsburgh Club [Member]                        
Business Acquisition [Line Items]                        
Interest rate     8.00%                  
Total consideration acquired     $ 5,500,000                  
Subsequent Event [Member]                        
Business Acquisition [Line Items]                        
Interest rate             9.00%          
Installment amount             $ 11,905          
Debt principal amount             $ 879,085          
Debt payment description             The note, as modified, still bears interest at 9% and is payable in 108 equal monthly installments of $11,905, including principal and interest, until July 2028.