XML 68 R18.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Lines of Credit and Long Term Debt | 3 Months Ended
--- | ---
Mar. 31, 2015
Debt Disclosure [Abstract] |
Lines of Credit and Long Term Debt | Lines of Credit and Long Term Debt Lines of Credit Trans Ova has a $10,000 revolving line of credit with First National Bank of Omaha which matures on June 1, 2015. The line of credit bears interest at the greater of 2.95% above the London Interbank Offered Rate or 3.00% and was 3.13% at March 31, 2015. As of March 31, 2015, there was no outstanding balance. The amount available under the line of credit is based on eligible accounts receivable and inventory or the maximum line of credit amount. As of March 31, 2015, the amount available under the line of credit was $10,000. Trans Ova's revolving line of credit is collateralized by certain of its assets and contain certain restricted covenants that include maintaining minimum tangible net worth, maximum allowable annual capital expenditures and working capital. Trans Ova was in compliance with these covenants as of March 31, 2015. Exemplar has a $700 revolving line of credit with American State Bank which matures on November 1, 2015. The line of credit bears interest at 4.50% per annum. As of March 31, 2015, there was an outstanding balance of $621. As of March 31, 2015, the amount available under the line of credit was $79. Long Term Debt Long term debt consists of the following:
| March 31, 2015 |  | December 31, 2014
Notes payable | $ | 7,360 |  |  | $ | 7,653 |
Royalty-based financing | 1,868 |  |  | 1,926 |
Other | 498 |  |  | 790 |
Long term debt | 9,726 |  |  | 10,369 |
Less current portion | 1,426 |  |  | 1,675 |
Long term debt, less current portion | $ | 8,300 |  |  | $ | 8,694 |
Trans Ova has a note payable to American State Bank which matures in April 2033 and has an outstanding principal balance of $5,866 as of March 31, 2015. Trans Ova pays monthly installments of $39, which includes interest at 3.95%. The note payable is collateralized by all of Trans Ova's assets. Trans Ova has a note payable to the Iowa Economic Development Authority which matures in July 2016 and has an outstanding principal balance of $916 as of March 31, 2015. Trans Ova pays quarterly installments of $183. The note payable in collateralized by certain of Trans Ova's real estate. Exemplar has notes payable with outstanding principal balances totaling $578 as of March 31, 2015. Exemplar pays monthly installments ranging from $1 to $4 with interest rates ranging from 0% to 3.00%. These notes mature from September 2018 to May 2020 and are collateralized by certain of Exemplar's real estate or letters of credit of certain of its members. AquaBounty has a royalty-based financing grant from the Atlantic Canada Opportunities Agency ("ACOA"), a Canadian government agency, to provide funding of a research and development project. The total amount available under the award is $2,271, which AquaBounty can claim over a five year period. All amounts claimed by AquaBounty must be repaid in the form of a 10% royalty on any products commercialized out of this research and development project until fully paid. Because the timing of commercialization is subject to regulatory approval, the timing of repayment is uncertain. As of the acquisition date, AquaBounty had claimed $1,952 of the available funds and this amount was recorded at its acquisition date fair value of $1,107. The Company accretes the difference of $845 between the face value of amounts drawn and the acquisition date fair value over the expected period of repayment. Since the acquisition date and through March 31, 2015, AquaBounty has made subsequent claims of $811 resulting in total long term debt of $1,868 as of March 31, 2015. Future maturities of long term debt are as follows:
2015 | $ | 1,117 |
2016 | 896 |
2017 | 364 |
2018 | 361 |
2019 | 338 |
2020 | 457 |
Thereafter | 4,325 |
Total | $ | 7,858 |
The AquaBounty royalty-based financing grant is not included in the table above due to the uncertainty of the timing of repayment.

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: 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 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration