XML 77 R19.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Short-Term Liabilities
3 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Short-Term Liabilities

NOTE 13 – SHORT-TERM LIABILITIES

 

The Company’s subsidiaries have revolving lines of credit with various banks in order to fund operations. As of December 31, 2019, the balance of these accounts were $408,940.

 

On September 21, 2018, the Company’s subsidiary, Vicon Industries, entered into a $5,600,000 Term Loan Agreement with NIL Funding Corporation. This note carries interest of 8.95% and has a maturity date of March 30, 2020. As of December 31, 2019, $5,425,000 of this note remains outstanding.

 

As of December 31, 2019, there were $3,766,391 in current portion of long-term liabilities.