XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.20.4

Note 12 - Debt | 3 Months Ended
--- | ---
Dec. 31, 2020
Notes to Financial Statements |
Debt Disclosure [Text Block] |
1 2 . | DEBT
In connection with the acquisition of Genasys Spain the Company acquired certain debts of Genasys Spain. The carrying value of the acquired debt approximates fair value. The balances of the acquired debt consist of loans with governmental agencies as of December 31, 2020. Loans with governmental agencies represent interest free debt granted by ministries within Spain for the purpose of stimulating economic development and promoting research and development. Loans with governmental agencies as of December 31, 2020 are as follows:
Agency | Due Date |  | Principal |
Ministry of Economy and Competitiveness | February 2, 2022 |  | $ | 37 |
Ministry of Economy and Competitiveness | February 2, 2024 |  |  | 295 | (a)
|  |  | $ | 332 |
| (a) | This loan is secured by $295 of cash pledged as collateral by Genasys Spain, which is the current balance of the loan. This amount is included in restricted cash at December 31, 2020. The Company expects the Ministry of Economy and Competitiveness to declare the terms of the loan satisfied within fiscal 2021 and that the outstanding balance of the loan will be paid in full during fiscal 2021. Accordingly, this has been included in the current portion of notes payable as of December 31, 2020.
The following is a schedule of future annual payments as of December 31, 2020:
2021 |  | $ | 314 |
2022 |  |  | 18 |
Total |  | $ | 332 |
The current portion of debt is $314 and the noncurrent portion of debt is $18.

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration