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Subsequent Events | 9 Months Ended
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Sep. 30, 2015
Subsequent Events [Abstract] |
Subsequent Events | 14. SUBSEQUENT EVENTS On October 5, 2015, the underwriters of the Company’s public offering of common stock completed on September 25, 2015, exercised their over-allotment option to purchase and additional 168,750 shares from the Company at the public offering price of $4.00 per share, resulting in an additional $0.6 million in net proceeds after deducting the underwriting discount. (see Note 11 – Shareholders’ Equity). On November 18, 2015, the Company secured a Limited Duration Wavier and Consent Letter from Bank of Montreal with respect to its U.S. Facilities and its Canadian Facilities, pursuant to which Bank of Montreal agreed to suspend testing of the existing financial and other covenants until January 31, 2016 and to permit up to $3.0 million of available borrowing capacity under the Canadian Facilities to be advanced to its U.S. operations for working capital purposes and to pay a portion of its past due federal payroll tax obligation, subject to the satisfaction of additional financial reporting requirements. (see Note 1 – Basis of Presentation and Note 5 – Other Expense).

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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