XML 45 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
Bank Financing (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended 9 Months Ended
Aug. 01, 2017
Jun. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Mar. 31, 2017
Line of Credit Facility [Line Items]              
Revolving line of credit     $ 3,465,332   $ 3,465,332  
Line of credit facility, LIBOR Rate plus rate     2.75%   2.75%    
Incurred interest expense     $ 114,370 $ 89,512 $ 188,413 $ 143,138  
Unused facility fee     $ 5,481 8,027 $ 19,559 23,291  
First priority security ownership interest percentage     100.00%   100.00%    
Line of credit facility, collateral amount     $ 815,000   $ 815,000    
Amortization expense     $ (3,333) (18,519) (28,272) (55,558)  
Proceeds from lines of credit         $ 3,465,332 2,274,291  
Term Note [Member]              
Line of Credit Facility [Line Items]              
Line of credit facility, interest rate during period         1.75%    
Line of credit facility, LIBOR Rate plus rate     3.75%   3.75%    
Incurred interest expense     $ 9,560 0 $ 17,170 0  
Line of credit facility, periodic payment $ 125,000            
Outstanding balance     750,000   750,000   $ 0
Subordinated Debt [Member]              
Line of Credit Facility [Line Items]              
Line of credit facility, maximum amount outstanding during period         $ 1,000,000    
Line of credit facility, interest rate during period         6.00%    
Incurred interest expense     12,269 $ 0 $ 26,228 $ 0  
Line of credit facility, collateral amount     $ 815,000   815,000    
Line of credit facility, periodic payment         $ 123,000    
Maximum [Member]              
Line of Credit Facility [Line Items]              
First priority lien percentage     65.00%   65.00%    
Prior 30 Days [Member] | Subordinated Debt [Member]              
Line of Credit Facility [Line Items]              
Line of credit facility, maximum amount outstanding during period         $ 1,000,000    
Revolving Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Debt instrument, term         3 years    
Line of credit facility, expiration date         Jul. 15, 2020    
Line of credit facility, description         Usage under the Revolving Credit Facility shall not exceed the sum of the following (the “Borrowing Base”): 1. Up to 85% of the company’s eligible domestic and Canadian accounts receivable and up to 90% of eligible foreign credit insured accounts aged less than 60 days past due (not to exceed 90 days from invoice date, cross aged on the basis of 50% or more past due with certain specific accounts qualifying for up to 120 days from invoice date not to exceed 30 days from the due date; plus 2. Up to the lesser of (a) 60% of the cost of eligible inventory or (b) 85% of net orderly liquidation value percentage of eligible inventory (annual inventory appraisals required); minus 3. Applicable reserves including a dilution reserve equal to 100% of the Company’s advertising and return accrual reserves. Dilution reserve not to exceed availability generated from eligible accounts receivable.    
Line of credit facility sub limits description         The Revolving Credit Facility includes the following sub-limits: 1. Letters of Credit to be issued limited to $3,000,000. 2. Inventory availability limited to $5,000,000. 3. $500,000 eligible in-transit inventory sublimit within the $5,000,000 total inventory. 4. Mandatory pay-down to $1,000,000 (excluding letters of credit) for any 30 consecutive days between February 1 and April 30.    
Line of credit facility, covenant terms         The Revolving Credit Facility must comply with the following quarterly financial covenants to avoid default: Fixed charge coverage ratio test of 1.1:1 times measured on a rolling four quarter basis, defined as EBITDA less non-financed capital expenditures, cash dividends and distributions paid and cash taxes paid divided by the sum of interest and principal on all indebtedness. Capital expenditures limited to $300,000 per year.    
Line of credit facility, interest rate during period         0.75%    
Line of credit facility default rate         2.00%    
Line of credit facility, unused capacity, commitment fee percentage         0.375%    
Line of credit facility, collateral fee         $ 40,000    
Revolving Credit Facility [Member] | Term Note [Member]              
Line of Credit Facility [Line Items]              
Debt instrument, term   2 years          
Proceeds from lines of credit   $ 1,000,000     1,000,000    
Repayments of lines of credit   $ 1,924,000          
Revolving Credit Facility [Member] | Peak Selling Season Between August 1 And December 31 [Member]              
Line of Credit Facility [Line Items]              
Line of credit facility, maximum amount outstanding during period         15,000,000    
Revolving line of credit     $ 5,000,000   5,000,000    
Revolving Credit Facility [Member] | Peak Selling Season Between January 1 And July 31 [Member]              
Line of Credit Facility [Line Items]              
Line of credit facility, maximum amount outstanding during period         7,500,000    
Toys R Us bankruptcy's [Member] | Subordinated Debt [Member]              
Line of Credit Facility [Line Items]              
Line of credit facility, periodic payment         $ 123,000