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Notes Payable - Related Party (Tables) | 6 Months Ended
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Jun. 30, 2022
Notes Payable [Abstract] |
Schedule of Notes Payable | As of June 30, 2022, the Company had various notes payable to Gloria E. Gebbia and Hedge Connection, the details of which are presented below:
Description |  | Issuance Date |  | Face Amount |  | Unpaid Principal Amount |
0.00% due July 20, 2022* |  | January 21, 2022 |  | $ | 600,000 |  | $ | 250,000 |
4.00% due November 30, 2022*** |  | November 30, 2020 |  |  | 3,000,000 |  |  | 3,000,000 |
Total Notes payable – related party |  |  |  | $ | 3,600,000 |  | $ | 3,250,000 |
-14- As of December 31, 2021, 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 30, 2022** |  | December 30, 2021 |  | $ | 2,000,000 |  | $ | 2,000,000 |
4.00% due June 30, 2022** |  | December 31, 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 |  |  |  | $ | 7,000,000 |  | $ | 7,000,000 |
*On January 21, 2022, the Company entered into a $600,000 note payable to Hedge Connection. During the six months ended June 30, 2022, the Company paid $350,000 of this note payable. **On March 31, 2022, $2,880,000 in aggregate of notes payable to Gloria E. Gebbia was exchanged for 24% ownership interest in RISE. During the six months ended June 30, 2022, the Company paid the remainder of these notes payable. ***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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