| Schedule of Long-term debt, related parties |
| |
|
June 30,
2018
|
|
September 30,
2017
|
| |
|
|
|
|
| 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, 2021,10% of principal will be repaid annually on a quarterly basis, with accrued interest and principal due at maturity. ApplianceSmart may reborrow funds up to the Original Principal amount |
|
$ |
3,817,714 |
|
|
$ |
— |
|
| 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 |
|
|
5,817,714 |
|
|
|
2,000,000 |
|
| Less unamortized debt issuance costs |
|
|
— |
|
|
|
— |
|
| Net amount |
|
|
5,817,714 |
|
|
|
2,000,000 |
|
| Less current portion |
|
|
(391,949 |
) |
|
|
— |
|
| Long-term portion |
|
$ |
5,425,765 |
|
|
$ |
2,000,000 |
|
|