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Subsequent Events
3 Months Ended
Dec. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events

11. Subsequent Events

 

On January 4, 2017, the Company paid off $392,000 of convertible 6% notes, which would have matured on March 4, 2023.

 

On January 13, 2017, we closed the sale on one of our non-income producing properties for $2.2 million in cash, recognizing approximately $116,000 loss on the sale. Proceeds were used to pay off the remaining $1.5 million of a related 11% balloon note, which was due in 2018. The Company paid a $75,000 prepayment penalty to pay off the debt.