LINE OF CREDIT (Details Narrative) - USD ($) |
9 Months Ended | |
---|---|---|
Sep. 30, 2023 |
Jan. 31, 2023 |
|
Line of Credit Facility [Line Items] | ||
Debt agency fee rate | 0.50% | |
Line of credit outstanding amount | $ 21,433,094 | |
Interest rate percentage | 8.90% | |
Webster Credit Line [Member] | ||
Line of Credit Facility [Line Items] | ||
Maximum borrowing capacity | $ 32,500,000 | |
Line of credit facility, interest rate description | The interest rates relating to the Webster Credit Line equal (i) the Secured Overnight Financing Rate (“SOFR”) plus a premium, which rate aggregated approximately 8.9%, including a 0.5% agency fee, as of September 30, 2023, or (ii) a Base Rate (as defined in the Amended and Restated Credit Agreement) plus 2.00% and a 0.5% agency fee, as chosen by the Company for each drawdown | |
Line of credit facility, interest rate at period end | 2.00% | |
Debt agency fee rate | 0.50% | |
Mortgage notes receivable, description | Further, the Company may issue up to $20 million in bonds through its subsidiary, of which not more than $10 million of such bonds may be secured by mortgage notes receivable, and provided that the terms and conditions of such bonds are approved by Webster, subject to its reasonable discretion | |
Webster Credit Line [Member] | Mr. Ran [Member] | Amended and Restated Credit Agreement [Member] | ||
Line of Credit Facility [Line Items] | ||
Debt guaranteed amount | $ 1,000,000 | |
Webster Credit Line [Member] | Secured Overnight Financing Rate [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit facility, interest rate at period end | 8.90% | |
Debt agency fee rate | 0.50% |