Long-Term Debt (Details Textual) |
1 Months Ended | 6 Months Ended | |
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Jun. 07, 2018
USD ($)
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Dec. 26, 2017
USD ($)
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Jun. 30, 2018
USD ($)
Employee
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Long-Term Debt (Textual) | |||
Aggregate principal amount | $ 550,000 | ||
Unamortized discount | $ 987,500 | ||
Related Parties Notes [Member] | |||
Long-Term Debt (Textual) | |||
Aggregate principal amount | $ 550,000 | ||
Debt maturity date | Dec. 06, 2018 | ||
Excess of equity financing | $ 10,000,000 | ||
Related parties notes, description | Under no circumstance may the Related Parties Notes be paid off on or prior to the 91st day following the maturity date of the Senior Secured Notes issued by the Company on December 27, 2017 in the principal aggregate amount of $5,750,000. Interest accrues on the Related Parties Notes at the rate of 12.0% per annum. The Related Parties Notes contain terms and events of default customary for similar transactions. The Company used the net proceeds from the transaction for general business and working capital purposes. | ||
Secured mortgage payable to Bank [Member] | |||
Long-Term Debt (Textual) | |||
Number of Commerce Drive Building | Employee | 100 | ||
Monthly installments | $ 11,951 | ||
Senior Secured Notes (Member) | |||
Long-Term Debt (Textual) | |||
Percentage of interest payable | 26.00% | ||
Debt due date | July 6, 2018 | ||
Aggregate principal amount | $ 5,750,000 | ||
Consideration of gross proceeds paid by spin-off investors | $ 5,000,000 | ||
Note payable, to former building owner [Member] | |||
Long-Term Debt (Textual) | |||
Monthly installments | $ 1,604 | ||
Percentage of interest payable | 5.50% | ||
Balloon payment | $ 350,000 | ||
Debt due date | August 2018 | ||
Notes payable, related parties [Member] | |||
Long-Term Debt (Textual) | |||
Percentage of interest payable | 12.00% |
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the required periodic payments including both interest and principal payments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of payment greater than the preceding installment payments to be paid at final maturity date of debt. No definition available.
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- Definition Amount, after accumulated amortization, of debt discount. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash inflow from the issuance of equity classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A description of the related party transaction, including transactions to which no amounts or nominal amounts were ascribed and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements. Examples of common related party transactions are, sales, purchases and transfers of realty and personal property, services received or furnished, loans and leases to and from top management and affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The change in equity as a result of a spin-off transaction (a regular or reverse spin-off) which is based on the recorded amounts. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Represents the number of buildings. No definition available.
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