Quarterly report pursuant to Section 13 or 15(d)

18. Subsequent Events

v3.19.1
18. Subsequent Events
6 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

Note 18:        Subsequent Events

 

ApplianceSmart Note

 

On March 15, 2019, ApplianceSmart entered into subordination agreements with the Seller and Crossroads pursuant to which it agreed to subordinate the payment of indebtedness under the ApplianceSmart Note and the Seller’s security interest in the assets of ApplianceSmart and other related parties in exchange for up to $1,200,000 payable within 15 days of the agreement. ApplianceSmart paid $1,200,000 to the Company $100,000 on March 29, 2019, $250,000 on April 5, 2019 and $850,000 on April 15, 2019 as principal payments on the ApplianceSmart Note.