Annual report pursuant to Section 13 and 15(d)

7. Debt (Tables)

v2.4.1.9
7. Debt (Tables)
12 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
Notes payable of Modern Everyday, Inc.
Note payable to individual, payable on demand, interest at 10.0% per annum, unsecured   $ 90,168  
Convertible note payable to individual, due February 27, 2015, interest at 6.0% per annum, unsecured     335,245  
Convertible note payable to ICG, due January 23, 2015, interest at 8.0% per annum, unsecured     527,889  
Acquisition note payable (See Note 17), $200,000 due February 28, 2015 and $400,000 due February 28, 2016, non-interest bearing with interest imputed at 2.87% per annum     581,707  
Credit line due September 28, 2019, with interest rate at prime plus 2%     240,204  
Less Debt Discount     (215,884 )
Total Debt     1,559,329  
Current portion     920,360  
Long-term portion   $ 638,969  
Future maturities of debt
Years ending September 30,        
2015     $ 920,360  
2016       400,000  
2017        
2018        
2019       238,969  
Thereafter        
        $ 1,559,329