XML 42 R33.htm IDEA: XBRL DOCUMENT v3.22.1
Notes and Lines of Credit (Details Narrative)
Jan. 28, 2022
A And R Loan Agreement [Member] | Strandler LLC [Member] | Revolving Credit Facility [Member]  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Borrowing Capacity, Description the Company entered into an additional Business Loan Agreement (the “New Term Loan Agreement”) with Strandler, LLC, which effectively transferred or assigned the previously existing Term Loan to Strandler, LLC from Beachcorp, LLC. Interest on the New Term Loan is at the prime rate plus 0.75%, and it matures on March 31, 2024. Strandler, LLC is also an affiliate of Bradford T. Whitmore.
A And R Loan Agreement [Member] | Beachcorp, LLC [Member] | Revolving Credit Facility [Member]  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Borrowing Capacity, Description the Company entered into the A&R Loan Agreement and a new revolving loan agreement (“Inventory Facility”) with Beachcorp, LLC, and a new promissory note in order to evidence the Inventory Facility. The maximum borrowing amount under the Inventory Facility is $4,000, with a borrowing base consisting of up to 50% of the value of qualified inventory of the Company. The interest rate for the Inventory Revolver is at the prime rate plus 0.75%, and it matures on March 31, 2024.
Business Loan Agreement [Member] | Beachcorp, LLC [Member]  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Borrowing Capacity, Description the Company entered into an Amended and Restated Business Loan Agreement (the “A&R Loan Agreement”), which amends and restates the Master Agreement between the Company and Beachcorp, LLC, and a new promissory note in order to evidence the A/R Revolver facility, including an amendment to expand the limit on the A/R Revolver Facility from $6,000 to $8,000, reduce the interest rate to the prime rate plus 0.75%, and extend the maturity of the A/R Revolver Facility to March 31, 2024.