Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events (Details Textual)

v3.7.0.1
Subsequent Events (Details Textual) - Preferred Class A [Member] - Subsequent Event [Member]
Jul. 14, 2017
USD ($)
shares
Stock Repurchased During Period, Shares 120,000
Payments for Repurchase of Preferred Stock and Preference Stock | $ $ 4,092,153
Common Stock, Shares Held in Escrow, Shares 509,500
Redeemable Preferred Stock Description (a) the Company repurchased from 1347 Investors a total of 120,000 shares of the Company’s Class A Preferred Stock, par value $0.0001 per share (the “Preferred Stock”), for an aggregate sum of approximately $4,092,153 in cash, (b) for a period of six months after such repurchase, the Company will have the right to repurchase from 1347 Investors in one or more transactions all or a portion of the remaining 280,000 shares of Preferred Stock owned by 1347 Investors for a purchase price equal to 130% of the liquidation value per share plus 130% of any and all accrued but unpaid dividends thereon as of the date of closing of the purchase of such shares and (c) 1347 Investors will not, with respect to the 509,500 shares of common stock held in escrow pursuant to its current lock-up arrangement that expired on July 20, 2017, sell or otherwise transfer such shares of common stock during the period from such expiration through October 20, 2017.