XML 55 R44.htm IDEA: XBRL DOCUMENT v3.10.0.1
Notes Payable and Capital Lease Obligations (Details Textual 1) - USD ($)
4 Months Ended 9 Months Ended
Mar. 21, 2017
Sep. 30, 2018
Feb. 28, 2017
Notes Payable and Capital Lease Obligations (Textual)      
Debt instrument aggregate principal value   $ 297,000  
Outstanding interest, percentage     8.00%
Accrued interest payable   $ 1,269,000  
Debr instrument interest rate, description   Interest for that quarterly interest payment shall be calculated at the rate of 12% per annum. Upon the occurrence and continuation of an event of default, interest shall accrue at the rate of 12% per annum.  
Debt instrument principal, description   As of September 30, 2018, we had outstanding $4,775,000 principal amount of 8% Notes, of which $2,575,000 principal amount is due on November 30, 2018 and $2,200,000 principal amount is due on February 28, 2019.  
Common stock conversion prices decrease   $ 2.25  
Common stock conversion prices increase   $ 4.45  
Warrants issued, percentage   8.00%  
Warrant, description   Of these warrants, 320,702 warrants may be exercised until November 30, 2021 and 243,307 warrants may be exercised until January 31, 2022.  
Minimum      
Notes Payable and Capital Lease Obligations (Textual)      
Offerings per share   $ 3.00  
Maximum [Member]      
Notes Payable and Capital Lease Obligations (Textual)      
Offerings per share   $ 4.53  
Taglich Brothers, Inc., [Member]      
Notes Payable and Capital Lease Obligations (Textual)      
Warrants to purchase common stock, shares 180,977    
Debt instrument aggregate principal value $ 382,000    
Amendments to 8% Notes [Member]      
Notes Payable and Capital Lease Obligations (Textual)      
Debt instrument principal, description   Michael Taglich, Robert Taglich and Taglich Brothers (collectively, the “Taglich Parties”) owned $1,300,000, $650,000 and $382,000, respectively, principal amount of 8% Notes, with accrued interest thereon from the date of issuance through September 30, 2018 of $203,613, $120,097 and $68,294, respectively. In consideration for waiving all defaults in payment of principal and accrued interest on the 8% Notes through the date of the amendment, the conversion price of the Amended Notes owned by the Taglich Parties and the other holders of the Amended Notes has been reduced to $1.50 per share, subject to the anti-dilution adjustments set forth in the Amended Notes and the 8% Notes, and the Company issued to the Taglich Parties and the other holders of the 8% Notes such number of shares of common stock calculated based upon a value of $1.39 per share, the closing market price of common stock on the NYSE American on September 28, 2018, the date immediately prior to the date the holders of a majority of the outstanding principal amount of the 8% Notes approved the amendment as is equal to the interest accrued on their 8% Notes from the date of issuance through September 30, 2018. As a result, the Company issued to Michael Taglich, Robert Taglich and Taglich Brothers 146,484 shares, 86,401 shares and 49,132 shares, respectively, of common Stock.  
Interest on unpaid principal amount, description   From and after September 30, 2018, interest on the unpaid principal amount of the Amended Notes shall accrue and be paid at the rate of six (6%) percent per annum, if paid in cash, or at the rate of eight (8%) percent per annum if converted into common stock.   
Adoption of amendments, description   The Company agreed to pay Taglich Brothers $95,550, representing a fee equal to 2% of the outstanding principal amount of Notes whose registered holders (other than Taglich Brothers) received shares of common stock in lieu of cash payment of accrued interest on the 8% Notes as of September 30, 2018.  
Majority of outstanding principal amount, description   <font style="font: 10pt Times New Roman, Times, Serif">In September 2018, holders of a majority of the outstanding principal amount of the 8% Notes consented to an amendment to the terms of the 8% Notes to extend the maturity date to December 31, 2020 and to provide that interest on the 8% Notes, as amended (the “Amended Notes”), shall accrue and be paid on the due date of the Amended Notes or, if earlier, upon conversion of the Amended Notes into shares of common stock.  
Private Placements of 8% Subordinated Convertible Notes [Member]      
Notes Payable and Capital Lease Obligations (Textual)      
Proceeds from receiving of gross $ 4,775,000    
Warrants to purchase common stock, shares 383,080    
Private Placements of 8% Subordinated Convertible Notes [Member] | Robert and Michael Taglich [Member]      
Notes Payable and Capital Lease Obligations (Textual)      
Proceeds from receiving of gross $ 1,950,000    
Percentage of subordinated convertible notes 8.00%    
Private Placement [Member]      
Notes Payable and Capital Lease Obligations (Textual)      
Gross proceeds amount   $ 1,200,000