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Line of Credit | 12 Months Ended
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Dec. 31, 2017
Line of Credit Facility [Abstract] |
Debt Disclosure [Text Block] |
12. | Line of Credit
Commercial Loan Agreement Facility On June 15, 2017, the Company entered into a Loan and Security Agreement with Access National Bank (the “Loan Agreement”), which was modified effective February 19, 2018. The Loan Agreement provides for a $5.0 million working capital revolving line of credit through April 30, 2018 and replaces the Company’s prior credit facility with Cardinal Bank. The available amount under the working capital line of credit is subject to a borrowing base, which is equal to the lesser of (i) $5.0 million or (ii) 70% of the net unpaid balance of the Company’s eligible accounts receivable. The interest rate for the working capital line of credit is the Wall Street Journal prime rate plus 1.25%. The facility is secured by a first lien security interest on all of the Company’s personal property, including its accounts receivable, general intangibles, inventory and equipment maintained in the United States. The Loan Agreement requires that the Company (i) maintain a minimum adjusted tangible net worth of at least $2.0 million for each quarter and (ii) maintain a current ratio of 1.10:1 tested quarterly. Under the previous credit facility with Cardinal Bank the Company was advanced and repaid approximately $3.3 million during the year ended December 31, 2017. Under the current credit facility with Access National Bank the Company was advanced and repaid approximately $20.3 million and $20.3 million, respectively during the year ended December 31, 2017. As of December 31, 2017, the Company was eligible to borrow up to $4.5 million under the borrowing base formula.

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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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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