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14. SUBSEQUENT EVENTS
3 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 14            SUBSEQUENT EVENTS

 

On January 21, 2020, the Company executed a non-negotiable promissory note with a design segment customer (same customer in which the Company has a cost method investment – see Note 3) to recover approximately $1.6 million in accounts receivable which had been reserved as bad debt in fiscal 2019. The principal sum of the note is approximately $1,626,000. Beginning on April 1, 2020, monthly interest and principal payments, based on a one-year amortization schedule, will be due and payable in arrears on the first day of the month until March 1, 2021. Interest shall accrue at a rate of 8% per annum.