| Schedule of Long-term debt, related parties |
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2018 |
|
|
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 |
|
$ |
3,821,507 |
|
|
$ |
– |
|
| |
|
|
|
|
|
|
|
|
| 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 |
|
|
5,821,507 |
|
|
|
2,000,000 |
|
| Less unamortized debt issuance costs |
|
|
– |
|
|
|
– |
|
| Net amount |
|
|
5,821,507 |
|
|
|
2,000,000 |
|
| Less current portion |
|
|
(391,949 |
) |
|
|
– |
|
| Long-term portion |
|
$ |
5,429,558 |
|
|
$ |
2,000,000 |
|
|