Factor Receivables, Letters of Credit Payable and Loan Payable (Details Narrative) (10-K) - USD ($) |
6 Months Ended | 12 Months Ended | ||
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Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
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Debt Disclosure [Abstract] | ||||
Fixed fee description | The Company pays a fixed fee of 5% of the cost of products it purchased from the vendor upon opening the LC, and 1% each 30 days thereafter, after the LC is funded by the Factor until such time the Factor receives the payment from the Company's customers. | The Company pays a fixed fee of 5% of the cost of products it purchased from the vendor upon opening the LC, and 1% each 30 days thereafter, after the LC is funded by the Factor until such time the Factor receives the payment from the Company's customers. | ||
Loan payable third party | $ 1,139,981 | $ 1,078,941 | $ 1,244,129 | |
Accounts receivable | 8,453,623 | 8,088,035 | ||
Factor fees incurred | 205,717 | $ 242,831 | 461,624 | 409,240 |
Allowances for sales discount and rebates | 13,000 | 13,000 | 13,000 | |
Outstanding accounts receivable factored | $ 1,493,916 | 1,663,398 | 1,238,912 | |
Proceeds from short term loan | 75,000 | |||
Payments on short term loan | 211,146 | |||
Short term advances |
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- Definition Allowances for sales discount. No definition available.
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- Definition Fixed fee description. No definition available.
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- Definition For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Carrying value as of the balance sheet date of portion of long-term loans payable due within one year or the operating cycle if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after allowance, of receivables classified as other, due within one year or the operating cycle, if longer. No definition available.
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- Definition Amount of cash outflow for fees classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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