Related Party Transactions |
9 Months Ended |
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Jun. 30, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Presently, our Chairman and President, Eric Langan, personally guarantees all of the commercial bank indebtedness of the Company. Mr. Langan receives no compensation or other direct financial benefit for any of the guarantees. The balance of our commercial bank indebtedness, net of debt discount and issuance costs, as of June 30, 2025, and September 30, 2024, was $136.9 million and $135.3 million, respectively. Included in the debt balance as of June 30, 2025, and September 30, 2024, are notes borrowed from related parties—one note for $500,000 (from Ed Anakar, an employee of the Company and brother of our former director Nourdean Anakar) and another note for $150,000 (from a brother of Company CFO, Bradley Chhay) in which the terms of the notes are the same as the rest of the lender group. We used the services of Tall Oak Custom Furniture, and previously Nottingham Creations, both furniture fabrication companies that manufacture tables, chairs and other furnishings for our Bombshells locations, as well as providing ongoing maintenance. Tall Oak Custom Furniture is owned by a brother of Eric Langan (as was Nottingham Creations). Amounts billed to us for goods and services provided by Tall Oak Custom Furniture and Nottingham Creations were $12,344 and $19,098 during the three and nine months ended June 30, 2025, respectively, and $0 and $344,798 during the three and nine months ended June 30, 2024, respectively. As of June 30, 2025, and September 30, 2024, we owed Tall Oak Custom Furniture and Nottingham Creations $3,312 and $18,700, respectively, in unpaid billings. TW Mechanical LLC provided plumbing and HVAC services to both a third-party general contractor providing construction services to the Company, as well as directly to the Company during fiscal 2025 and 2024. A son-in-law of Eric Langan owns a 50% interest in TW Mechanical. Amounts billed by TW Mechanical to the third-party general contractor were $0 and $0 for the three and nine months ended June 30, 2025, respectively, and $0 and $0 for the three and nine months ended June 30, 2024, respectively. Amounts billed directly to the Company were $455 and $1,856 for the three and nine months ended June 30, 2025, respectively, and $0 and $3,160 for the three and nine months ended June 30, 2024, respectively. As of June 30, 2025, and September 30, 2024, the Company owed TW Mechanical $0 and $0, respectively, in unpaid direct billings.
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