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8. Long-Term Debt (Tables) | 9 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Schedule of credit line debt | Long-term debt as of June 30, 2019 and September 30, 2018 consisted of the following:
|  | June 30, |  |  | September 30, |
|  | 2019 |  |  | 2018 |
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 |  | $ | – |  |  | $ | 7,600,605 |
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 and common stock |  |  | 11,194,534 |  |  |  | 11,892,595 |
Note Payable Comvest Term Loan - variable interest rate based upon LIBOR rate plus a margin, interest payable monthly in cash, principal due quarterly March 31, June 30, September 30, December 31, subject to a variable amortization of principal, maturity date May 26, 2023 note subordinate to Texas Capital Bank Revolver Loan, secured by Vintage Stock Assets |  |  | 16,162,393 |  |  |  | 22,500,000 |
Note Payable to the Sellers of Vintage Stock, interest at 8% per annum, with interest payable monthly, amended maturity date of September 6, 2023, note subordinate to both Texas Capital Bank Revolver and Capitala Term Loan, secured by Vintage Stock Assets |  |  | 10,000,000 |  |  |  | 10,000,000 |
Crossroads Financial Revolver Loan - variable interest rate based upon the three-month LIBOR rate plus a margin, interest payable monthly, maturity date March 2021, secured by substantially all ApplianceSmart assets |  |  | 2,852,282 |  |  |  | – |
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 |  |  | 2,258,835 |  |  |  | 3,230,555 |
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 |  |  | – |  |  |  | 1,636,940 |
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. |  |  | 2,504,440 |  |  |  | 2,871,849 |
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. |  |  | 769,351 |  |  |  | 881,937 |
Note #5 Payable to Banc of America Leasing & Capital LLC - interest at 4.67% per annum, with interest and principal payable monthly in the amount of $54,943 for 84 months, beginning January 28, 2018, secured by equipment. |  |  | 3,193,383 |  |  |  | 3,568,925 |
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 |  |  | 9,281,321 |  |  |  | 9,302,346 |
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 8.5% per annum, payable on a 120 day written demand notice, unsecured |  |  | – |  |  |  | 225,000 |
Total notes payable |  |  | 58,923,068 |  |  |  | 74,417,281 |
Less unamortized debt issuance costs |  |  | (1,522,815 | ) |  |  | (1,653,458 | )
Net amount |  |  | 57,400,253 |  |  |  | 72,763,823 |
Less current portion |  |  | (8,598,026 | ) |  |  | (13,958,355 | )
Long-term portion |  | $ | 48,802,227 |  |  | $ | 58,805,468 |
Future maturities of debt | Future maturities of long-term debt at June 30, 2019 are as follows which does not include related party debt separately stated:
Years ending June 30, |  |  |
2020 |  | $ | 8,598,026 |
2021 |  |  | 16,326,884 |
2022 |  |  | 4,930,740 |
2023 |  |  | 4,410,878 |
2024 |  |  | 15,234,244 |
Thereafter |  |  | 9,422,296 |
Total |  | $ | 58,923,068 |

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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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