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Note Payables - Related Party (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes Payable [Abstract] |
Schedule of Notes Payable | As of December 31, 2020, the Company had various notes payable to Gloria E. Gebbia, the Company’s principal stockholder, the details of which are presented below:
Description | Issuance Date |  | Face Amount |  |  | Unpaid Principal Amount |
4.00% due May 31, 2021 | December 1, 2020 |  | $ | 2,200,000 |  |  | $ | 2,200,000 |
4.00% due November 30, 2021* | November 30, 2020 |  |  | 3,000,000 |  |  |  | 3,000,000 |
Total Notes payable – related party |  |  | $ | 5,200,000 |  |  | $ | 5,200,000 |
*This note payable is subordinated to MSCO and is subordinated to the claims of general creditors, approved by FINRA, and are included in MSCO’s calculation of net capital and the capital requirements under FINRA and SEC regulations. As of December 31, 2019, the Company had various notes payable to Gloria E. Gebbia, the details of which are presented below:
Description | Issuance Date |  | Face Amount |  |  | Unpaid Principal Amount |
4.00% due December 2, 2020 | December 2, 2019 |  | $ | 3,000,000 |  |  | $ | 3,000,000 |
2.75% due November 30, 2020* | November 30, 2018 |  |  | 3,000,000 |  |  |  | 3,000,000 |
1.75% due September 4, 2020* | September 4, 2020 |  |  | 2,000,000 |  |  |  | 2,000,000 |
Total Notes payable – related party |  |  | $ | 8,000,000 |  |  | $ | 8,000,000 |
*These notes payable are subordinated to MSCO and are subordinated to the claims of general creditors, approved by FINRA, and are included in MSCO’s calculation of net capital and the capital requirements under FINRA and SEC regulations. Subsequently, a rate adjustment was completed on March 3, 2020. These notes were acquired as part of the transaction with StockCross and no consideration was paid or received as part of the renegotiation. MSCO subsequently repaid the notes on September 4, 2020 and November 30, 2020, respectively.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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