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6. Notes Payable (Tables) | 9 Months Ended
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Jun. 30, 2017
Debt Disclosure [Abstract] |
Fixed coverage ratio table |
Level |  |  | Fixed Charge Coverage Ratio |  | Base Rate Revolver |  |  | LIBOR Revolver |  |  | Base Rate Term |  |  | LIBOR Term Loans |
| I |  |  | >2.00 to 1.00 |  |  | 0.50% |  |  |  | 1.50% |  |  |  | 0.75% |  |  |  | 1.75% |
| II |  |  | <2.00 to 1.00 but >1.50 to 1.00 |  |  | 0.75% |  |  |  | 1.75% |  |  |  | 1.00% |  |  |  | 2.00% |
| III |  |  | <1.50 to 1.00 but >1.20 to 1.00 |  |  | 1.00% |  |  |  | 2.00% |  |  |  | 1.25% |  |  |  | 2.25% |
| IV |  |  | <1.2 to 1.00 |  |  | 1.25% |  |  |  | 2.25% |  |  |  | 1.50% |  |  |  | 2.50% |
Schedule of debt |
|  | June 30, |  |  | September 30, |
|  | 2017 |  |  | 2016 |
Bank of America Revolver Loan - variable interest rate based upon a base rate plus a margin, interest payable monthly, maturity date July 2020, secured by substantially all Marquis assets |  | $ | 5,266,331 |  |  | $ | 222,590 |
Texas Capital Bank Revolver Loan - variable interest rate based upon the one-month LIBOR rate plus a margin, interest payable monthly, maturity date November 2020, secured by substantially all Vintage Stock assets |  |  | 12,109,111 |  |  |  | – |
Note Payable Capitala Term Loan - variable interest rate based upon a base rate plus a margin, 3% per annum interest payable in kind, with the balance of interest payable monthly in cash, principal due quarterly in the amount of $725,000, maturity date November 2021, note subordinate to Texas Capital Bank Revolver Loan, secured by Vintage Stock Assets |  |  | 28,415,651 |  |  |  | – |
Note Payable to the Sellers of Vintage Stock, interest at 8% per annum, with interest payable monthly, maturity date May 2022, note subordinate to both Texas Capital Bank Revolver and Capitala Term Loan, secured by Vintage Stock Assets |  |  | 10,000,000 |  |  |  | – |
Note #1 Payable to Banc of America Leasing & Capital LLC - interest at 3.8905% per annum, with interest and principal payable monthly in the amount of $84,273 for 59 months, beginning September 23, 2016, with a final payment due in the amount of $584,273, maturity date September 2021, secured by equipment |  |  | 4,309,354 |  |  |  | 4,931,937 |
Note #2 Payable to Banc of America Leasing & Capital LLC - interest at 4.63% per annum, with interest and principal payable monthly in the amount of $34,768 for 59 months, beginning January 30, 2017, with a final payment due in the amount of $476,729, maturity date January 2022, secured by equipment |  |  | 2,050,830 |  |  |  | – |
Note #3 Payable to Banc of America Leasing & Capital LLC - interest at 4.7985% per annum with interest and principal payable monthly in the amount of $51,658 for 84 months, beginning January 30, 2017, secured by equipment. |  |  | 3,455,617 |  |  |  | – |
Note #4 Payable to Banc of America Leasing & Capital LLC - interest at 4.8907% per annum, with interest and principal payable monthly in the amount of $15,901 for 81 months, beginning April 30, 2017, secured by equipment. |  |  | 1,060,659 |  |  |  | – |
Note Payable to Store Capital Acquisitions, LLC, - interest at 9.25% per annum, with interest and principal payable monthly in the amount of $73,970 for 480 months, beginning July 1, 2016, maturity date of June 2056, secured by Marquis land and buildings |  |  | 9,334,312 |  |  |  | 9,351,796 |
Note Payable to Cathay Bank, variable interest rate, Prime Rate plus 2.50%, with interest payable monthly, maturity date December 2017, secured by substantially all Modern Everyday assets |  |  | 180,346 |  |  |  | 198,569 |
Note Payable to Cathay Bank, variable interest rate, Prime Rate plus 1.50%, with interest payable monthly, maturity date December 2017, secured by substantially all Modern Everyday assets |  |  | 249,766 |  |  |  | 249,766 |
Note payable to individual, interest at 11% per annum, payable on a 90 day written notice, unsecured |  |  | 206,529 |  |  |  | 206,529 |
Note payable to individual, interest at 10% per annum, payable on a 90 day written notice, unsecured |  |  | 500,000 |  |  |  | 500,000 |
Note payable to individual, interest at 8.25% per annum, payable on a 120 day written demand notice, unsecured |  |  | 225,000 |  |  |  | 225,000 |
Total notes payable |  |  | 77,363,506 |  |  |  | 15,886,187 |
Less unamortized debt issuance costs |  |  | (1,411,867 | ) |  |  | (414,025 | )
Net amount |  |  | 75,951,639 |  |  |  | 15,472,162 |
Less current portion |  |  | (5,847,194 | ) |  |  | (1,789,290 | )
Long-term portion |  | $ | 70,104,445 |  |  | $ | 13,682,872 |
Future maturities of debt |
Years ending June 30, |  |  |  |
2018 |  | $ | 6,081,238 |
2019 |  |  | 4,801,499 |
2020 |  |  | 10,153,524 |
2021 |  |  | 17,085,972 |
2022 |  |  | 18,889,319 |
Thereafter |  |  | 20,351,954 |
Total |  | $ | 77,363,506 |

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