v3.2.0.727
DEBT (Tables)
9 Months Ended
Jun. 30, 2015
Debt Disclosure [Abstract]  
Schedule Of Debt Related Party Affiliate Lenders
The following officers, directors and 5% shareholders of the Company participated as Lenders in the Loan and Security Agreement:
 
Name
 
Commitment
 
Amount Funded as of
June 30, 2015
 
Aggregate Number
of Warrants Issuable
 
Warrants Issued as of
June 30, 2015
 
The Estate of Gene Mulvihill(1)
 
$
500,000
 
$
500,000
 
 
232,561
 
 
232,561
 
Sunset Marathon Partners LLC(2)
 
$
250,000
 
$
250,000
 
 
116,281
 
 
116,281
 
MRP Holdings LLC(3)
 
$
400,000
 
$
400,000
 
 
186,051
 
 
186,051
 
Burton I. Koffman and David Koffman(4)
 
$
750,000
 
$
750,000
 
 
348,850
 
 
348,850
 
Anthony P. Miele III(5)
 
$
25,000
 
$
25,000
 
 
11,631
 
 
11,631
 
Alexandria Equities, LLC(6)
 
$
700,000
 
$
700,000
 
 
325,585
 
 
325,585
 
Albert Behler(7)
 
$
400,000
 
$
400,000
 
 
186,051
 
 
186,051
 
Fox Hunt Wine Collectors, LLC(8)
 
$
1,000,000
 
$
1,000,000
 
 
465,117
 
 
465,117
 
James Gelly(9)
 
$
400,000
 
$
400,000
 
 
186,051
 
 
186,051
 
 
 
(1)
Gail Mulvihill and Andrew Mulvihill, the co-administrators of the estate, exercise voting and investment power over the shares issuable upon exercise of the Warrants. Gail Mulvihill is a principal stockholder of the Company and mother of Christopher, the Company’s President and a principal stockholder of the Company. Andrew Mulvihill is a brother of Christopher Mulvihill.
 
 
(2)
James Mulvihill, was a principal stockholder of the Company at the time we entered into the Loan and Security Agreement, has voting and investment power over the shares issuable upon exercise of the Warrants and is a brother of Christopher Mulvihill.
 
 
(3)
MRP Holdings LLC is owned by Mark Patterson, the Chairman of the Board of Directors, a principal stockholder and the former Chief Executive Officer of the Company.
 
 
(4)
Directly and indirectly through entities they control and by members of their families and entities they control, Burton Koffman and David Koffman are principal stockholders of the Company. In addition, David Koffman is a director of the Company.
 
 
(5)
Anthony P. Miele, III is a director of the Company.
 
 
(6)
Alexandria Equities, LLC was a principal stockholder of the Company at the time we entered into the Loan and Security Agreement.
 
 
(7)
Albert Behler is a principal stockholder of the Company.
 
 
(8)
Fox Hunt Wine Collectors, LLC, is managed by Peter Mulvihill, brother of Christopher Mulvihill.
 
 
(9)
James Gelly is the Chief Executive Officer and a director of the Company.
Schedule of Debt
Accordingly, the Company reclassified the debt from a current liability to a non-current liability on its balance sheet for the period ending June 30, 2015.
 
 
 
Principal
 
 
 
 
 
 
 
 
 
 
As of
 
 
 
 
 
 
 
 
 
 
6/30/2015
 
9/30/2014
 
Maturity Date
 
Interest Rate
 
Secured
 
 
 
(unaudited)
 
 
 
 
 
 
 
 
 
 
 
Current Debt- Third Party:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loan Payable- Third Party
 
$
80,538
 
$
80,538
 
Upon Demand
 
 
10
%
No
 
Equipment Note Payable (current portion)
 
 
-
 
 
9,024
 
1/15/2015
 
 
6
%
Yes
 
Notes – June 2013 Loan Agreement
 
 
9,625,300
 
 
-
 
5/31/2016
 
 
15
%
Yes
 
Discount on Notes
 
 
(3,340,382)
 
 
-
 
 
 
 
 
 
 
 
Amortization of Discount
 
 
1,322,185
 
 
-
 
 
 
 
 
 
 
 
Total Current Debt- Third Party
 
$
7,687,641
 
$
89,562
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current Debt- Related Party:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes – June 2013 Loan Agreement
 
$
3,724,700
 
$
-
 
5/31/2016
 
 
15
%
Yes
 
Discount on Notes
 
 
(1,287,024)
 
 
-
 
 
 
 
 
 
 
 
Amortization of Discount
 
 
526,034
 
 
-
 
 
 
 
 
 
 
 
Total Current Debt- Related Party
 
$
2,963,710
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-Term Debt – Third Party:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes – June 2013 Loan Agreement
 
$
-
 
$
4,729,866
 
5/31/2016
 
 
15
%
Yes
 
Convertible Notes – 2011 Offering
 
 
-
 
 
3,665,763
 
11/1/2016
 
 
6
%
No
 
Convertible Notes – 2011 Offering
 
 
200,000
 
 
1,250,000
 
11/18/2016
 
 
6
%
No
 
Convertible Notes – 2011 Offering
 
 
-
 
 
925,000
 
12/9/2016
 
 
6
%
No
 
Convertible Notes – 2012 Offering
 
 
200,000
 
 
4,065,000
 
6/14/2017
 
 
6
%
No
 
Convertible Notes – Dec 2012 Offering
 
 
-
 
 
1,230,000
 
12/28/2017
 
 
6
%
No
 
Discount on Notes
 
 
(251,876)
 
 
(10,073,448)
 
 
 
 
 
 
 
 
Amortization of Discount
 
 
167,791
 
 
5,077,137
 
 
 
 
 
 
 
 
Total Long-Term Debt – Third Party
 
$
315,915
 
$
10,869,318
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-Term Debt- Related Party:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes – June 2013 Loan Agreement
 
$
-
 
$
1,755,674
 
5/31/2016
 
 
15
%
Yes
 
Convertible Notes – 2011 Offering
 
 
-
 
 
5,683,757
 
11/1/2016
 
 
6
%
No
 
Convertible Notes – 2011 Offering
 
 
-
 
 
100,000
 
11/18/2016
 
 
6
%
No
 
Convertible Notes – 2012 Offering
 
 
-
 
 
2,135,000
 
6/14/2017
 
 
6
%
No
 
Convertible Notes – Dec 2012 Offering
 
 
-
 
 
1,845,000
 
12/28/2017
 
 
6
%
No
 
Long-Term Note – Related Party
 
 
500,000
 
 
-
 
2/28/2020
 
 
4
%
No
 
Discount on Notes
 
 
-
 
 
(8,329,964)
 
 
 
 
 
 
 
 
Amortization of Discount
 
 
-
 
 
4,335,717
 
 
 
 
 
 
 
 
Total Long-Term Debt- Related Party
 
$
500,000
 
$
7,525,184
 
 
 
 
 
 
 
 
Schedule of Maturities of Long-term Debt
The aggregate maturities of our long-term debt are as follows:
 
Twelve months ended
 
 
 
 
June 30, 2017
 
$
400,000
 
June 30, 2018
 
 
-
 
June 30, 2019
 
 
-
 
June 30, 2020
 
 
500,000
 
Total
 
$
900,000