XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.21.2

Notes Payable - Related Party | 9 Months Ended
--- | ---
Sep. 30, 2021
Notes Payable [Abstract] |
Notes Payable - Related Party | 12. Notes Payable - Related Party As of September 30, 2021, 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 October 31, 2021* | September 17, 2021 |  | $ | 2,000,000 |  | $ | 2,000,000
4.00% due November 30, 2022** | November 30, 2020 |  |  | 3,000,000 |  |  | 3,000,000
Total Notes payable – related party |  |  | $ | 5,000,000 |  | $ | 5,000,000
As of December 31, 2020, 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 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
*On May 31, 2021, this note payable was renewed with a maturity of September 30, 2021. On September 30, 2021, this notes payable was renewed with a maturity of October 31, 2021. **This note payable is subordinated to MSCO and is subordinated to the claims of general creditors, approved by FINRA, and is included in MSCO’s calculation of net capital and the capital requirements under FINRA and SEC regulations. On August 17, 2021, this note payable was renewed with a maturity of November 30, 2022. The Company’s interest expense for these notes payable for the three months ended September 30, 2021 and 2020 was $52,000 and $74,000, respectively. The Company’s interest expense for these notes payable for the nine months ended September 30, 2021 and 2020 was $156,000 and $220,000, respectively. The Company’s interest payable related to these notes payable was $0 as of both September 30, 2021 and December 31, 2020.

X
- References No definition available. + Details
Name: | us-gaap_NotesPayableAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_ShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration