DEBT (Tables)
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9 Months Ended |
Jun. 30, 2015 |
| Debt Disclosure [Abstract] |
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| 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. |
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| 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 | | | | | | | | |
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| 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 | |
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