XML 106 R87.htm IDEA: XBRL DOCUMENT v3.22.4
Notes Payable Non-Convertible (Details) - USD ($)
1 Months Ended 3 Months Ended 9 Months Ended 10 Months Ended 12 Months Ended
Jul. 26, 2022
Jun. 04, 2022
Feb. 04, 2022
Sep. 16, 2022
Jul. 31, 2022
Dec. 20, 2021
Nov. 30, 2021
Nov. 17, 2020
Oct. 31, 2022
Oct. 31, 2021
Sep. 30, 2022
Dec. 31, 2021
Jul. 31, 2022
Jul. 31, 2021
Feb. 03, 2023
Oct. 21, 2022
Aug. 22, 2022
Jul. 27, 2022
Sep. 12, 2021
Oct. 22, 2018
Notes Payable Non-Convertible (Details) [Line Items]                                        
Transaction related expenses                     $ 100,000 $ 100,000                
Total unamortized debt discount                 $ 72,354                      
Principal amount of bridge loan                             $ 2,848,525          
Borrowing principal amount                             151,475          
Indebtedness of principal amount                             $ 3,000,000          
Bridge loan payment percentage                 50.00%                      
Aggregate amount             $ 25,000                          
Annual interest rate                     1.00%           1.00%      
DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Promissory note       $ 30,000,000                       $ 30,000,000        
Debt discount outstanding         $ 0       $ 0       $ 0 $ 5,355,322            
Principal amount           $ 3,500,000                            
Accrued interest                 790,872       530,672              
Amendment fees           1,418,744     1,418,744       1,418,744              
Proceeds to fund acquisitions     $ 10,000,000   6,000,000       6,000,000       6,000,000              
Extinguishment of debt                 5,479,865       5,479,865              
Total unamortized debt discount         180,750       $ 4,061,121       180,750              
Secured loan     10,000,000                                  
Recognized in OID     250,000                                  
Debt issuance cost     220,000                                  
Principal balance         10,000,000               $ 10,000,000         $ 165,000    
Credit agreement, description                 1.Maximum Allowed - Senior Leverage Ratio of 4.05 to 1.00 2.Minimum Allowed - EBITDA of $3,771,629   3.Minimum Allowed - Liquidity of $2,000,000   4.Maximum Allowed - Capital Expenditures of $94,798 (Quarterly)   5.Minimum Allowed - Fixed Charge Coverage Ratio of 1.5 to 1.00   6.Maximum Allowed - Churn of 3.00% at any time         1. Maximum Allowed - Senior Leverage Ratio of 4.06 to 1.00 2. Minimum Allowed - EBITDA of $3,719,589 3. Minimum Allowed - Liquidity of $2,000,000 4. Maximum Allowed - Capital Expenditures of $94,798 (Quarterly) 5. Minimum Allowed - Fixed Charge Coverage Ratio of 1.5 to 1.00 6. Maximum Allowed - Churn of 3.00% at any time               
Credit agreement and amendment discription                 On December 15, 2022, the lender agreed to forbear from exercising its remedies in connection with the financial covenants that were not complied with during the quarter ended October 31,2022, as well as certain other specified defaults, until December 23, 2022 or such later date as agreed to in writing by the lender.                       
Aggregate amount   $ 250,000                                    
interest expense $ 80,000               $ 30,125                      
Unsecured adjustable promissory notes         $ 1,750,000       1,750,000       $ 1,750,000              
Amortized cost       $ 50,000,000                 $ 1,294,201              
Total unamortized debt discount     313,334                                  
Equity ownership percentage                         100.00%              
Annual interest rate                                   8.00% 8.00%  
Debt discount     241,000,000           $ 204 $ 943     $ 2,064 2,809            
Interest expense                         60,250              
Principal payment                         250,000              
DIGERATI TECHNOLOGIES, INC [Member] | Minimum [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Annual interest rate                 0.00%                      
Annual interest rate   0.00%                                    
DIGERATI TECHNOLOGIES, INC [Member] | Maximum [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Annual interest rate                 18.00%                      
Annual interest rate   18.00%                                    
DIGERATI TECHNOLOGIES, INC [Member] | Term Loan C Note [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Accrued interest                         $ 199,413              
DIGERATI TECHNOLOGIES, INC [Member] | November 17, 2024 [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Interest rate of LIBOR         12.00%       12.00%       12.00%              
DIGERATI TECHNOLOGIES, INC [Member] | August 04, 2023 [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Interest rate of LIBOR         12.00%       12.00%       12.00%              
Credit Agreement and Notes [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Transaction related expenses               $ 964,000                        
Next Level Internet Acquisition [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Debt discount                 $ 241,000                      
Unsecured Promissory Notes [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Promissory note     1,800,000                                  
Unsecured Adjustable Promissory Notes [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Promissory note     $ 200,000                                  
Skynet Telecom LLC [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Total unamortized debt discount         $ 4,061,121               $ 4,061,121              
T3 Communications, Inc. [Member] | DIGERATI TECHNOLOGIES, INC [Member] | Pledge Agreement [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Ownership percentage                 100.00%                      
T3 Communications, Inc. [Member] | Credit Agreement and Notes [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Additional amount received               6,000,000                        
Loan increment               1,000,000                        
Net proceeds               13,036,000                        
Discounts cost               964,000                        
Non-convertible [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Promissory note                                       $ 50,000
Base annual interest rate                                       8.00%
Non-convertible [Member] | Secured promissory note [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Principal amount outstanding         50,000       $ 50,000       50,000 $ 50,000            
Term Loan A Note [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Principal amount         $ 22,168,515               22,168,515              
Accrued interest                 $ 22,959,387       $ 530,672              
Term Loan A Note [Member] | T3 Communications, Inc. [Member] | Credit Agreement and Notes [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Promissory note               10,500,000                        
Secured loan               20,000,000                        
Term Loan B Note [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Accrued interest           $ 187,442                            
Term Loan B Note [Member] | T3 Communications, Inc. [Member] | Credit Agreement and Notes [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Promissory note               $ 3,500,000                        
Interest rate description of LIBOR                 Term Loan B had a maturity date of December 31, 2021, and an interest rate of LIBOR (with a minimum rate of 1.5%) plus twelve percent (12%). Term Loan B is non-amortized (interest only payments) through the maturity date and contains an option for the Company to pay interest in kind (PIK) for up to five percent (5%) of the interest rate in year one, four percent (4%) in year two and three percent (3%) in year three.       Term Loan B had a maturity date of December 31, 2021, and an interest rate of LIBOR (with a minimum rate of 1.5%) plus twelve percent (12%). Term Loan B is non-amortized (interest only payments) through the maturity date and contains an option for the Company to pay interest in kind (PIK) for up to five percent (5%) of the interest rate in year one, four percent (4%) in year two and three percent (3%) in year three.              
Term Loan A [Member] | T3 Communications, Inc. [Member] | Credit Agreement and Notes [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Interest rate description of LIBOR                 Term Loan A Note with a maturity date of November 17, 2024, and an interest rate of LIBOR (with a minimum rate of 1.5%) plus twelve percent (12%). Term Loan A is non-amortized (interest only payments) through the maturity date and contains an option for the Company to pay interest in kind (PIK) for up to five percent (5%) of the interest rate in year one, four percent (4%) in year two and three percent (3%) in year three.        Term Loan A Note with a maturity date of November 17, 2024, and an interest rate of LIBOR (with a minimum rate of 1.5%) plus twelve percent (12%). Term Loan A is non-amortized (interest only payments) through the maturity date and contains an option for the Company to pay interest in kind (PIK) for up to five percent (5%) of the interest rate in year one, four percent (4%) in year two and three percent (3%) in year three.               
Minimum [Member] | DIGERATI TECHNOLOGIES, INC [Member] | November 17, 2024 [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Interest rate of LIBOR         1.50%       1.50%       1.50%              
Minimum [Member] | DIGERATI TECHNOLOGIES, INC [Member] | August 04, 2023 [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Interest rate of LIBOR         1.50%       1.50%       1.50%              
Credit Agreement and Notes [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Total unamortized debt discount         $ 313,334       $ 235,001       $ 313,334              
Term Loan C Note [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Accrued interest                 304,029       199,413              
Principal balance         10,000,000       10,000,000       10,000,000              
Promissory Notes – Next Level Internet Acquisition [Member] | DIGERATI TECHNOLOGIES, INC [Member]                                        
Notes Payable Non-Convertible (Details) [Line Items]                                        
Total unamortized debt discount         $ 180,750       $ 150,625       $ 180,750