XML 23 R52.htm IDEA: XBRL DOCUMENT v2.4.0.8
$2,000,000 Credit Facility (Details Narrative) (USD $)
6 Months Ended
Dec. 31, 2013
Avidbank - Loan and Servicing Agreement
 
Maximum borrowing capacity description Avidbank will lend to the Company under a revolving credit facility an aggregate outstanding amount not to exceed the lesser of (i) One Million Dollars ($1,000,000) (the "Revolving Line") or (ii) an amount equal to eighty percent (80%) of eligible accounts
Maximum borrowing capacity $ 1,000,000
Borrowing capacity eligible accounts, percentage 80.00%
Interest rate basis 1.0 % above the Prime Rate
Basis spread on variable rate 1.00%
Late fee, percent 5.00%
Basis on interest rate upon debt default 5.00%
Avidbank - Equipment Advances
 
Maximum borrowing capacity 1,000,000
Minimum amount of equipment advance $ 100,000
Interest rate basis 1.5 % above the Prime Rate
Basis spread on variable rate 1.50%
Frequency of payments monthly
Number of payments 36
Due date of debt Sep. 30, 2017