5. Notes Payable (Tables)

3 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Fixed coverage ratio table

Level	Fixed Charge Coverage Ratio	Base Rate Revolver Loan	LIBOR Revolver Loans	Base Rate Term Loans	LIBOR Term Loans
I	>2.00 to 1.00	0.50%	1.50%	0.75%	1.75%
II	<2.00 to 1.00 but >1.50 to 1.00	0.75%	1.75%	1.00%	2.00%
III	< 1.50 to 1.00 but >1.20 to 1.00	1.00%	2.00%	1.25%	2.25%
IV	< 1.2 to 1.00	1.25%	2.25%	1.50%	2.5%

Notes payable of Modern Everyday, Inc.

	December 31,		September 30,
	2015		2015
Base Rate Revolver Loan- interest rate based on prime rate adjusted for fixed coverage ratio (table above), maturity date July 6, 2020	$	7,769,494	$	7,225,745
Base Rate Term Loan- interest rate based on prime rate adjusted for fixed coverage ratio (table above) fixed coverage ratio, maturity date July 6, 2020		7,389,602		7,628,438
Note payable to individual, payable on demand, interest at 10.0% per annum, unsecured		93,663		92,441
Acquisition note payable, $200,000 due February 28, 2015 and $400,000 due February 28, 2016, non-interest bearing with interest imputed at  2.87% per annum		398,094		395,251
Credit line due January 1, 2024, with interest rate of 2.75%		665,956		669,351
Note payable for purchase of noncontrolling interest, interest at 2% per annum; due February 1, 2016. This note was paid on January 20, 2016		500,889		–
Total Debt		16,817,698		16,011,226
Current portion		1,947,990		1,443,036
Long-term portion	$	14,869,708	$	14,568,190