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7. Notes Payable (Details - Note Payable) - USD ($) | 9 Months Ended |
--- | --- | ---
Jun. 30, 2017 | Sep. 30, 2016
Total Debt | $ 77,363,506 | $ 15,886,186
Less: unamortized debt issuance costs | (1,411,867) | (414,025)
Net amount | 75,951,639 | 15,472,162
Current portion | (23,222,636) | (2,011,880)
Long-term portion | 52,729,003 | 13,460,282
Capitala Term Loan [Member] |  |
Total Debt | $ 28,415,651 | 0
Debt maturity date | Nov. 30, 2021 |
Debt interest rate description | Variable, base rate plus margin |
Periodic payment frequency | quarterly |
Periodic principal and/or interest payments | $ 725,000 |
Collateral | Secured by Vintage Stock assets |
Note Payable - Cathay Bank [Member] |  |
Total Debt | $ 180,346 | 198,569
Debt maturity date | Dec. 31, 2017 |
Debt interest rate description | Prime plus 2.25% |
Periodic payment frequency | interest monthly |
Collateral | Secured by substantially all Modern Everyday assets |
Note Payable #2 - Cathay Bank [Member] |  |
Total Debt | $ 249,766 | 249,766
Debt maturity date | Dec. 31, 2017 |
Debt interest rate description | Prime plus 1.5% |
Periodic payment frequency | interest monthly |
Collateral | Secured by substantially all Modern Everyday assets |
Note payable to individual [Member] |  |
Total Debt | $ 206,529 | 206,529
Debt interest rate description | 11% per annum |
Collateral | Unsecured |
Note Payable - Individual [Member] |  |
Total Debt | $ 500,000 | 500,000
Debt interest rate description | 10% per annum |
Collateral | Unsecured |
Note Payable - Individual 3 [Member] |  |
Total Debt | $ 225,000 | 225,000
Debt interest rate description | 8.25% per annum |
Collateral | Unsecured |
Note Payable to the Sellers of Vintage Stock [Member] |  |
Total Debt | $ 10,000,000 | 0
Debt maturity date | May 31, 2022 |
Debt interest rate description | 8% per annum |
Periodic payment frequency | monthly |
Collateral | Secured by Vintage Stock assets |
Note Payable to Bank of America Leasing [Member] |  |
Total Debt | $ 4,309,354 | 4,931,937
Debt maturity date | Sep. 30, 2021 |
Debt interest rate description | 3.8905% per annum |
Periodic payment frequency | monthly |
Periodic principal and/or interest payments | $ 84,273 |
Collateral | Secured by equipment |
Note #2 Payable to Bank of America Leasing [Member] |  |
Total Debt | $ 2,050,830 | 0
Debt maturity date | Jan. 30, 2022 |
Debt interest rate description | 4.63% per annum |
Periodic payment frequency | 59 monthly payments |
Periodic principal and/or interest payments | $ 34,768 |
Collateral | Secured by equipment |
Note #3 Payable to Bank of America Leasing [Member] |  |
Total Debt | $ 3,455,617 | 0
Debt maturity date | Dec. 30, 2023 |
Debt interest rate description | Variable, base rate plus a margin |
Periodic payment frequency | 84 monthly payments |
Periodic principal and/or interest payments | $ 51,658 |
Note Payable - Store Capital [Member] |  |
Total Debt | $ 9,334,312 | 9,351,796
Debt maturity date | Jun. 30, 2056 |
Debt interest rate description | 9.25% per annum |
Periodic payment frequency | monthly |
Periodic principal and/or interest payments | $ 73,970 |
Collateral | Secured by Marquis land and buildings |
Note #4 Payable to Bank of America Leasing [Member] |  |
Total Debt | $ 1,060,659 | 0
Debt maturity date | Dec. 30, 2023 |
Debt interest rate description | 4.8907% per annum |
Periodic payment frequency | 81 monthly payments |
Periodic principal and/or interest payments | $ 15,901 |
Collateral | Secured by equipment |
Note #1 Payable to Bank of America Leasing [Member] |  |
Debt maturity date | Sep. 23, 2021 |
Periodic payment frequency | 59 monthy payments |
Periodic principal and/or interest payments | $ 84,273 |
Bank of America Revolver Loan [Member] |  |
Total Debt | $ 5,266,331 | 222,590
Debt maturity date | Jul. 31, 2020 |
Debt interest rate description | Variable, base rate plus a margin |
Periodic payment frequency | monthly |
Collateral | Secured by substantially all Marquis assets |
Texas Capital Bank Revolver Loan [Member] |  |
Total Debt | $ 12,109,111 | $ 0
Debt maturity date | Nov. 30, 2020 |
Debt interest rate description | Variable, one-month LIBOR plus a margin |
Periodic payment frequency | monthly |
Collateral | Secured by substantially all Vintage Stock assets |

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