CONVERTIBLE NOTES PAYABLE (Details Textual) (USD $)
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1 Months Ended | 3 Months Ended | ||||||
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Oct. 31, 2013
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Sep. 30, 2013
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Aug. 31, 2013
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Apr. 30, 2013
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Mar. 31, 2014
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Nov. 26, 2013
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Oct. 17, 2013
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Aug. 02, 2013
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Debt Instrument, Redemption [Line Items] | ||||||||
Number Of Common Stock Warrants Issued | 300,000 | |||||||
Class Of Warrant Or Right Term | 3 years | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | 3.00 | 5.00 | 3.00 | |||||
Secured Subordinate Convertible Notes Conversion Description | Beginning six months after the original issue date and until this debenture is no longer outstanding, each Note holder may convert his or her Note into shares of the Companys common stock (at 90% of the average closing price ten days prior to conversion, unless a public offering is pending at the time of the conversion notice, which would result in the conversion price being the same price as the offering).The conversion price is subject to a floor of $1.00 per share; | |||||||
Secured Subordinate Convertible Notes Redemption Description | each Note holder has the right to redeem the Note for a period of sixty days following the eighteen month anniversary of the issuance of the Note, unless a capital raise is conducted within eighteen months after the issuance of the Note. | |||||||
Fair Value Of Conversion Features | $ 2,265,600 | |||||||
Fair Value Of Warrants | 884,600 | |||||||
Debt Instrument, Fair Value Disclosure | 3,150,200 | |||||||
Debt Discount On Conversion Features And Warrants | 3,000,000 | |||||||
Interest Expense, Short-term Borrowings, Total | 150,200 | |||||||
Stock Issued During Period, Shares, Issued For Services | 15,000 | 25,000 | 300,000 | 4,000 | 58,764 | |||
Equity Method Investment, Ownership Percentage | 25.00% | |||||||
Secured Subordinate Convertible Notes [Member]
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Debt Instrument, Redemption [Line Items] | ||||||||
Debt Instrument, Face Amount | 3,000,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||
Debt Instrument, Term | 36 months | |||||||
Debt Instrument, Description | the Note holders shall receive 10%, pro rata, of the net profit of the Hooters Nottingham restaurant, paid quarterly for the life of the location, and 10% of the net proceeds should the location be sold; | |||||||
Convertible Promissory Note [Member]
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Debt Instrument, Redemption [Line Items] | ||||||||
Debt Instrument, Face Amount | 500,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.25% | |||||||
Debt Instrument, Term | 5 years | |||||||
Equity Method Investment, Ownership Percentage | 30.00% | |||||||
Debt Instrument, Convertible, Conversion Price | $ 5.25 | |||||||
Debt Instrument, Unamortized Discount | $ 9,442 | |||||||
Debt Instrument, Convertible, Terms of Conversion Feature | The note is convertible into the Company’s common stock (at 85% of the offering price in a future offering or 85% of the VWAP). The conversion price is subject to a floor of $3.00 per share. If not converted, the note matures one year from the issuance date. |