XML 37 R30.htm IDEA: XBRL DOCUMENT v3.19.2
9. Notes payable, related parties (Tables)
9 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Long-term debt, related parties

Notes payable, related parties as of June 30, 2019 and September 30, 2018 consisted of the following:

 

   June 30,   September 30, 
   2019   2018 
         
Note Payable and revolving line of credit to the Sellers of ApplianceSmart, Inc., interest rate is 5% per annum, with interest payable monthly, maturity date April 1, 2021, accrued interest and principal all due at maturity. ApplianceSmart may reborrow funds up to the Original Principal amount during the term of the note.  $2,752,632   $3,821,507 
Note Payable to Isaac Capital Fund, interest rate is 12.5% per annum, with interest payable monthly, maturity date January 2021.   2,000,000    2,000,000 
Total notes payable - related parties   4,752,632    5,821,507 
Less unamortized debt issuance costs        
Net amount   4,752,632    5,821,507 
Less current portion       (391,949)
Long-term portion  $4,752,632   $5,429,558 
Future maturities of long term debt related party

Future maturities of notes payable, related parties at June 30, 2019 are as follows:

 

Years ending June 30,    
2020  $ 
2021   4,752,632 
2022    
2023    
2024    
Thereafter    
Total  $4,752,632