XML 33 R24.htm IDEA: XBRL DOCUMENT v3.21.2
Line of Credit (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended
Nov. 04, 2020
Feb. 24, 2021
Feb. 15, 2021
Apr. 22, 2020
Feb. 24, 2020
Jun. 29, 2015
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Loan amount             $ 38,000   $ 38,000    
Prime Rate                 3.00%    
Equipment Loan balance             0   $ 0   $ 0
Loan agreement amount             25,000   25,000    
Interest expense             0 $ 0 0 $ 0  
Loan agreement balance             25,000   25,000   25,000
Net proceeds                 0 164,000  
Inventory receivables             321,000   321,000   279,000
2019 Cherokee Loan and Security Agreement                      
Loan amount             200,000   200,000    
Interest expense             11,000 10,000 21,000 21,000  
Accrued interest             7,000   7,000   14,000
Principal amount         $ 3,000            
Restricted shares         42,857            
Fixed rate     18.00%                
Delinquent fee charged     8.00%                
Legal fees                 2,000    
Penalty     $ 20,000   $ 20,000            
Term Loan     $ 240,000       200,000   200,000    
Term Loan others             150,000   150,000    
Term Loan remains             48,000   $ 48,000    
Annual interest rate on loan                 18.00%    
Extension agreement rate         1.50%            
Increase financing rate     20.00%                
Remaining loan balance             240,000   $ 240,000   220,000
Crestmark Line of Credit                      
Prime Rate                 3.00%    
Interest expense             11,000 9,000 $ 24,000 17,000  
Accrued interest             0 0 0 0  
Remaining balance                 $ 287,000 277,000  
Initial term           5 years          
Current interest rate                 12.75%    
Floor rate                 5.25%    
Crestmark LOC interest rate                 6.25%    
Maintenance fee charge                 0.30%    
Actual average rate                 11.99%    
Inventory receivables             1,500,000   $ 1,500,000    
Decrease inventory receivables                 1,000,000    
Minimum loan balance requirement             500,000   500,000    
Availability loan balance             287,000   287,000    
Tangible charge                 5,000    
Loan and Security Agreement with Cherokee Financial, LLC                      
Interest expense             25,000 18,000 48,000 53,000  
Accrued interest             17,000 14,000 17,000 14,000  
Machinery and equipment             1,200,000   $ 1,200,000    
Fixed annual interest rate                 8.00%    
Additional interest rate                 8.00%    
Pay annual loan interest                 1.00%    
Net proceeds                 $ 80,000    
Debt payments                 1,015,000    
Other expenses and fees                 105,000    
Annual principal reduction payments   $ 97,000             75,000    
Agreement extension amount         $ 900,000            
Consideration amount         $ 900,000            
Percentage         2.00%            
Principal amount         $ 18,000            
Restricted shares         257,143            
Increased agreement extension amount   $ 1,000,000                  
Fixed rate   10.00%                  
Delinquent fee charged   8.00%                  
Maturity period   Feb. 15, 2022                  
Principal fee interest rate   8.00%                  
Fees interest rate   3.00%                  
Extended principal amount   $ 900,000                  
Service fee rate   3.00%                  
Legal fees   $ 1,000                  
Increase interest rate   18.00%                  
Administration fee rate   1.00%                  
Remaining balance                 1,000,000 900,000  
Penalty                 100,000    
Initial term         5 years            
April 2020 PPP Loan with Crestmark                      
Interest expense             1,000   1,000 0  
Accrued interest             1,000 2,000 1,000 2,000  
Promissory Note       $ 332,000              
Bears interest rate       1.00%              
PPP loans       $ 332,000     332,000   332,000   332,000
Forgiveness loan       $ 332,000              
November 2020 Shareholder Note 1                      
Loan agreement amount $ 50,000           50,000   50,000   $ 50,000
Interest expense             1,000   2,000 0  
Accrued interest             $ 1,000 $ 0 $ 1,000 $ 0  
Loan interest rate 7.00%                    
Extended loan maturity Nov. 04, 2021