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Notes Payable - Related Party | 12 Months Ended
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Dec. 31, 2022
Long-Term Debt [Abstract] |
Notes Payable - Related Party | 14. Notes Payable - Related Party During 2022 the Company had notes payable to Gloria E. Gebbia and Hedge Connection of $3 million and $600,000, respectively; however, as of December 31, 2022, the Company had no outstanding balance on these notes payables. 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 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 year ended December 31, 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. The Company’s interest expense for these notes payable for the years ended December 31, 2022 and 2021 was $151,000 and $206,000, respectively. The Company’s interest payable related to these notes payable was $0 as of both December 31, 2022 and 2021.

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- 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 https://asc.fasb.org/topic&trid=2208564 + Details
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