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Notes Payable - Related Party (Tables) | 9 Months Ended
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Sep. 30, 2021
Notes Payable [Abstract] |
Schedule of Notes Payable | 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.

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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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