BONDS - SERIES B (Details Textual) (USD $)
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0 Months Ended |
3 Months Ended |
6 Months Ended |
1 Months Ended |
0 Months Ended |
1 Months Ended |
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Jul. 08, 2015
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Nov. 30, 2015
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Nov. 30, 2014
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Nov. 30, 2015
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Nov. 30, 2014
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Nov. 30, 2015
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Oct. 30, 2015
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Aug. 31, 2015
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Apr. 30, 2015
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Feb. 28, 2015
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Nov. 13, 2014
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Nov. 24, 2014
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May 31, 2015
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Jul. 29, 2014
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May 31, 2014
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Dec. 15, 2015
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Jun. 23, 2015
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Debt Instrument, Face Amount |
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$ 3,056,030us-gaap_DebtInstrumentFaceAmount |
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$ 3,056,030us-gaap_DebtInstrumentFaceAmount |
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$ 3,056,030us-gaap_DebtInstrumentFaceAmount |
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$ 3,056,030us-gaap_DebtInstrumentFaceAmount |
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Shares Issuable Contingent On Investment |
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10,600staf_SharesIssuableContigentOnInvestment |
29,985staf_SharesIssuableContigentOnInvestment |
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Debt Instrument, Unamortized Discount |
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66,420us-gaap_DebtInstrumentUnamortizedDiscount |
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66,420us-gaap_DebtInstrumentUnamortizedDiscount |
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66,420us-gaap_DebtInstrumentUnamortizedDiscount |
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Amortization of Debt Discount (Premium) |
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242,606us-gaap_AmortizationOfDebtDiscountPremium |
236,423us-gaap_AmortizationOfDebtDiscountPremium |
504,768us-gaap_AmortizationOfDebtDiscountPremium |
1,026,798us-gaap_AmortizationOfDebtDiscountPremium |
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Debt Instrument, Convertible, Beneficial Conversion Feature |
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1,980,475us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature |
667,941us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature |
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Amortization Of Beneficial Conversion Feature |
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193,345staf_AmortizationOfBeneficialConversionFeature |
598,269staf_AmortizationOfBeneficialConversionFeature |
366,040staf_AmortizationOfBeneficialConversionFeature |
2,346,705staf_AmortizationOfBeneficialConversionFeature |
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Accrued interest |
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165,539us-gaap_InterestPayableCurrentAndNoncurrent |
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165,539us-gaap_InterestPayableCurrentAndNoncurrent |
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165,539us-gaap_InterestPayableCurrentAndNoncurrent |
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123,832us-gaap_InterestPayableCurrentAndNoncurrent |
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Other Restructuring Costs |
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5,215us-gaap_OtherRestructuringCosts |
3,082,447us-gaap_OtherRestructuringCosts |
10,429us-gaap_OtherRestructuringCosts |
3,082,447us-gaap_OtherRestructuringCosts |
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Interest Paid |
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859,144us-gaap_InterestPaid |
102,958us-gaap_InterestPaid |
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Repayments of Debt |
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1,024,000us-gaap_RepaymentsOfDebt |
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Stock Issued During Period, Shares, New Issues |
10,460us-gaap_StockIssuedDuringPeriodSharesNewIssues |
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Series B Convertible Bonds [Member] |
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Debt Instrument, Interest Rate, Stated Percentage |
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12.00%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Face Amount |
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100,000us-gaap_DebtInstrumentFaceAmount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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100,000us-gaap_DebtInstrumentFaceAmount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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100,000us-gaap_DebtInstrumentFaceAmount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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981,500us-gaap_DebtInstrumentFaceAmount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Shares Issuable Contingent On Investment |
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500staf_SharesIssuableContigentOnInvestment / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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500staf_SharesIssuableContigentOnInvestment / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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500staf_SharesIssuableContigentOnInvestment / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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1,000staf_SharesIssuableContigentOnInvestment / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Shares Issuable Investment Threshold |
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50,000staf_SharesIssuableInvestmentThreshold / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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50,000staf_SharesIssuableInvestmentThreshold / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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50,000staf_SharesIssuableInvestmentThreshold / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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100,000staf_SharesIssuableInvestmentThreshold / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Stock Issued During Period Shares Issued In Connection With Financings |
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9,815staf_StockIssuedDuringPeriodSharesIssuedInConnectionWithFinancings / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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9,815staf_StockIssuedDuringPeriodSharesIssuedInConnectionWithFinancings / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Unamortized Discount |
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123,505us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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123,505us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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123,505us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Amortization of Debt Discount (Premium) |
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84,263us-gaap_AmortizationOfDebtDiscountPremium / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Convertible, Beneficial Conversion Feature |
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100,389us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Amortization Of Beneficial Conversion Feature |
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69,530staf_AmortizationOfBeneficialConversionFeature / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Short-term Debt |
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881,500us-gaap_ShortTermBorrowings / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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881,500us-gaap_ShortTermBorrowings / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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881,500us-gaap_ShortTermBorrowings / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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981,500us-gaap_ShortTermBorrowings / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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0us-gaap_ShortTermBorrowings / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument Remaining Discount |
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881,500staf_DebtInstrumentRemainingDiscount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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881,500staf_DebtInstrumentRemainingDiscount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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881,500staf_DebtInstrumentRemainingDiscount / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Interest Expense, Debt |
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62,235us-gaap_InterestExpenseDebt / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Accrued interest |
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9,125us-gaap_InterestPayableCurrentAndNoncurrent / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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9,125us-gaap_InterestPayableCurrentAndNoncurrent / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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9,125us-gaap_InterestPayableCurrentAndNoncurrent / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
756us-gaap_InterestPayableCurrentAndNoncurrent / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Convertible, Terms of Conversion Feature |
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(i) the interest rate on the Series B Bond shall automatically increase to eighteen percent (18%); and (ii) with a 30-day written notice to the Company of an Event of Default, the holder may convert a portion of the Series B Bond into common stock up to a principal amount equal to eight percent (8%) of the original principal amount (plus any accrued and unpaid interest outstanding on the debenture) at a conversion price per share equal to seventy-five percent (75%) of the average of the 20 VWAPs of the common stock immediately prior to the applicable default conversion date until the earlier of: (A) the Event of Default is cured to the satisfaction of the holder; or (B) the Series B Bond is repaid in full; or (C) the Series B Bond is converted in full. The holder shall have the right to submit additional default conversion notices until the debenture is no longer outstanding, provided that the holder may not submit more than one such notice per 30-day period. In the event the Company fails to deliver the common stock shares within five (5) days of receiving the default conversion notice, the Company may be subject to additional cash penalty payments to the Series B Bond holders. |
(i) in the event the Companys common stock shares are trading at $26.70 or higher based on a 10-Day VWAP immediately prior to the Maturity Date, then the repayment conversion price shall be set at $20.00 per share, or (ii) in the event the Companys common stock shares are trading below $26.70 based on a 10-Day VWAP, then the repayment conversion price shall be set at a twenty-five percent (25%) discount to the 10-Day VWAP calculated immediately prior to the Maturity Date, provided however, that in no event will the repayment conversion price be less than $15.00. |
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Debt Instrument, Convertible, Conversion Price |
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$ 20.00us-gaap_DebtInstrumentConvertibleConversionPrice1 / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
$ 20.00us-gaap_DebtInstrumentConvertibleConversionPrice1 / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Placement Agent Terms |
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As part of the Series B Bond offering, the placement agent was entitled to: (i) a fee in cash of $88,335, nine percent (9%) of the aggregate gross proceeds raised, plus reimbursement of certain expense, (ii) 589 common stock shares equal to six percent (6%) of the Equity Consideration issued, and (iii) a three (3) year warrant, exercisable at $20.00 per share, to purchase 2,945 common stock shares with such exercise price subject to certain adjustments |
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Other Restructuring Costs |
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40,216us-gaap_OtherRestructuringCosts / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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154,489us-gaap_OtherRestructuringCosts / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Unamortized Discount (Premium), Net |
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223,894us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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223,894us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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223,894us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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153,793us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Interest Paid |
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43,430us-gaap_InterestPaid / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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29,364us-gaap_InterestPaid / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
29,042us-gaap_InterestPaid / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
25,207us-gaap_InterestPaid / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Repayments of Debt |
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25,000us-gaap_RepaymentsOfDebt / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Series B Convertible Bonds [Member] | Minimum [Member] |
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Debt Instrument, Unamortized Discount |
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0us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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0us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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0us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Convertible, Conversion Price |
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$ 10.00us-gaap_DebtInstrumentConvertibleConversionPrice1 / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Series B Convertible Bonds [Member] | Maximum [Member] |
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Debt Instrument, Convertible, Conversion Price |
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$ 12.00us-gaap_DebtInstrumentConvertibleConversionPrice1 / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Series B Convertible Bonds [Member] | Private Placement Agent [Member] |
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Debt Instrument, Interest Rate, Stated Percentage |
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2.00%us-gaap_DebtInstrumentInterestRateStatedPercentage / staf_EquityIssuanceAxis = staf_PrivatePlacementAgentMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Stock Issued During Period, Shares, New Issues |
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9,630us-gaap_StockIssuedDuringPeriodSharesNewIssues / staf_EquityIssuanceAxis = staf_PrivatePlacementAgentMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Stock Issued During Period, Value, New Issues |
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48,149us-gaap_StockIssuedDuringPeriodValueNewIssues / staf_EquityIssuanceAxis = staf_PrivatePlacementAgentMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Series B Convertible Bonds [Member] | Amendment One [Member] |
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Debt Instrument, Face Amount |
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55,000us-gaap_DebtInstrumentFaceAmount / staf_AmendmentAxis = staf_AmendmentOneMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Shares Issuable Contingent On Investment |
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2,500staf_SharesIssuableContigentOnInvestment / staf_AmendmentAxis = staf_AmendmentOneMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Shares Issuable Investment Threshold |
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100,000staf_SharesIssuableInvestmentThreshold / staf_AmendmentAxis = staf_AmendmentOneMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Maturity Date |
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Mar. 31, 2016 |
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Debt Instrument, Convertible, Conversion Price |
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$ 10.00us-gaap_DebtInstrumentConvertibleConversionPrice1 / staf_AmendmentAxis = staf_AmendmentOneMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Series B Convertible Bonds [Member] | Amendment Two A [Member] |
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Debt Instrument, Face Amount |
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426,500us-gaap_DebtInstrumentFaceAmount / staf_AmendmentAxis = staf_AmendmentTwoMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Interest Rate, Effective Percentage |
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18.00%us-gaap_DebtInstrumentInterestRateEffectivePercentage / staf_AmendmentAxis = staf_AmendmentTwoMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Payment Terms |
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the Company shall make payments on the principal amount of the Series B Bonds in six (6) equal tranches, every month, beginning on December 15, 2015 and (ii) the Company shall pay all accrued interest on the Series B Bonds by December 11, 2015 |
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Series B Convertible Bonds [Member] | Amendment Two A [Member] | Minimum [Member] |
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Debt Instrument, Convertible, Conversion Price |
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$ 10.00us-gaap_DebtInstrumentConvertibleConversionPrice1 / staf_AmendmentAxis = staf_AmendmentTwoMember / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Interest Rate, Effective Percentage |
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12.00%us-gaap_DebtInstrumentInterestRateEffectivePercentage / staf_AmendmentAxis = staf_AmendmentTwoMember / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Series B Convertible Bonds [Member] | Amendment Two A [Member] | Maximum [Member] |
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Debt Instrument, Convertible, Conversion Price |
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$ 12.00us-gaap_DebtInstrumentConvertibleConversionPrice1 / staf_AmendmentAxis = staf_AmendmentTwoMember / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Series B Convertible Bonds [Member] | Amendment Three A [Member] |
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Debt Instrument, Face Amount |
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75,000us-gaap_DebtInstrumentFaceAmount / staf_AmendmentAxis = staf_AmendmentThreeMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Accrued interest |
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2,876us-gaap_InterestPayableCurrentAndNoncurrent / staf_AmendmentAxis = staf_AmendmentThreeMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Maturity Date |
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Nov. 06, 2015 |
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Repayments of Debt |
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75,000us-gaap_RepaymentsOfDebt / staf_AmendmentAxis = staf_AmendmentThreeMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Series B Convertible Bonds [Member] | Amendment Three B [Member] |
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Debt Instrument, Face Amount |
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400,000us-gaap_DebtInstrumentFaceAmount / staf_AmendmentAxis = staf_AmendmentThreeBMember / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember |
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Debt Instrument, Maturity Date |
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Nov. 13, 2015 |
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Series B Convertible Bonds [Member] | Subsequent Event [Member] |
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Prepaid Interest |
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3,155us-gaap_PrepaidInterest / us-gaap_ShortTermDebtTypeAxis = staf_SeriesBConvertibleBondsMember / us-gaap_SubsequentEventTypeAxis = us-gaap_SubsequentEventMember |
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Convertible Notes Payable [Member] |
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Debt Instrument, Convertible, Beneficial Conversion Feature |
3,255,350us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature / us-gaap_ShortTermDebtTypeAxis = us-gaap_ConvertibleNotesPayableMember |
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Interest Expense, Debt |
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6,016us-gaap_InterestExpenseDebt / us-gaap_ShortTermDebtTypeAxis = us-gaap_ConvertibleNotesPayableMember |
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Accrued interest |
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$ 0us-gaap_InterestPayableCurrentAndNoncurrent / us-gaap_ShortTermDebtTypeAxis = us-gaap_ConvertibleNotesPayableMember |
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$ 0us-gaap_InterestPayableCurrentAndNoncurrent / us-gaap_ShortTermDebtTypeAxis = us-gaap_ConvertibleNotesPayableMember |
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$ 0us-gaap_InterestPayableCurrentAndNoncurrent / us-gaap_ShortTermDebtTypeAxis = us-gaap_ConvertibleNotesPayableMember |
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Debt Instrument, Convertible, Terms of Conversion Feature |
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(i) in the event the Companys common stock shares are trading at $26.70 or higher based on a 10-Day VWAP immediately prior to the Maturity Date, then the repayment price shall be set at $20.00 per share, or (ii) in the event the Companys common stock shares are trading below $26.70 based on a 10-Day VWAP, then the repayment price shall be set at a twenty-five percent (25%) discount to the 10-Day VWAP calculated immediately prior to the Maturity Date, provided however, that in no event will the repayment conversion price be less than $12.00. |
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Debt Instrument, Convertible, Conversion Price |
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$ 11.50us-gaap_DebtInstrumentConvertibleConversionPrice1 / us-gaap_ShortTermDebtTypeAxis = us-gaap_ConvertibleNotesPayableMember |