Notes Payable - Related Party (Tables)

3 Months Ended

Mar. 31, 2021

Notes Payable [Abstract]

Schedule of Notes Payable

As of both March 31, 2021 and December 31, 2020, the Company had various notes payable to Gloria E. Gebbia, the Company’s principal stockholder, the details of which are presented below:

Description	Issuance Date	Face Amount		Unpaid Principal Amount
4.00% due May 31, 2021	December 1, 2020	$	2,200,000	$	2,200,000
4.00% due November 30, 2021*	November 30, 2020		3,000,000		3,000,000
Total Notes payable – related party		$	5,200,000	$	5,200,000

*This note payable is subordinated to MSCO and is subordinated to the claims of general creditors, approved by FINRA, and are included in MSCO’s calculation of net capital and the capital requirements under FINRA and SEC regulations.