LINE OF CREDIT (Details Narrative) - Citibank, N.A. [Member] - Revolving Credit Facility [Member] - Credit Agreement [Member] - USD ($) |
Mar. 21, 2017 |
Sep. 30, 2018 |
Dec. 31, 2017 |
|---|---|---|---|
| Maximum borrowing capacity | $ 1,000,000 | ||
| Description of expiration | <p><font style="font: 10pt Times New Roman, Times, Serif">Expire at such time the parties mutually agree to terminate the credit facility or at the election of the lender.</font></p> | ||
| Description of interest rate | <p><font style="font: 10pt Times New Roman, Times, Serif">Interest accrues on the principal amount of revolving loans outstanding under the credit facility at a rate equal to the greater of (i) the prime rate of interest as published by Citibank, or (ii) the one-month London Interbank Offered Rate plus 2%.</font></p> | ||
| Description of payments | <p><font style="font: 10pt Times New Roman, Times, Serif">Amounts outstanding from time to time under the credit facility are due and payable monthly in an amount equal to the greater of 2% of the outstanding principal balance or $100, plus accrued interest.</font></p> | ||
| Annual finance charge | $ 2,500 | ||
| Description of collateral | <p><font style="font: 10pt Times New Roman, Times, Serif">Certificate of Deposit (restricted cash) account opened by the Company with Citibank in the amount of $1,000,000.</font></p> | ||
| Description covenant terms | <p style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(i) creating or permitting to exist any liens, security interests or other encumbrances on the Company’s assets, (ii) engaging in any business activities substantially different than those in which the Company is presently engaged, (iii) ceasing operations, liquidating, merging, transferring, acquiring or consolidating with any other entity, changing its name, dissolving or transferring or selling collateral out of the ordinary course of business, or (iv) paying dividends on the Company’s capital stock (other than dividends payable in stock). The Company was in compliance with all covenants at June 30, 2018.</font></p> <p></p> | ||
| Remaining borrowing capacity | $ 0 | $ 1,000,000 |