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Note Payable

12 Months Ended

Jul. 31, 2015

Note Payable [Abstract]

Note Payable

Note 11—Note Payable

The Company’s note payable consisted of the following:

July 31 (in thousands)		2015				2014
$11.0 million secured term loan due September 2015		$	6,353			$	6,624
Less current portion			(6,353	)			(271	)
Notes payable—long term portion		$	—			$	6,353

The future principal payments for the note payable at July 31, 2015 were as follows:

(in thousands)
Year ending July 31:
2016		$	6,353
2017			—
2018			—
2019			—
2020			—
Thereafter			—
Total notes payable		$	6,353

Interest on the loan was 5.6% per annum. The outstanding principal of $6.4 million was paid on the maturity date of September 1, 2015. The loan was secured by a mortgage on a building in Piscataway, New Jersey.

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- References

No definition available.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 505



-SubTopic 10



-Section 50



-Paragraph 3



-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 210



-SubTopic 10



-Section S99



-Paragraph 1



-Subparagraph (SX 210.5-02.19,20,22)



-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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