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Note 7 - Financing Arrangements | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Short-term Debt [Text Block] | Note 7 – Financing Arrangements The Company has a revolving credit facility with HSBC Bank, USA, N.A. (“HSBC”) providing up to $7 million, although the Company has never utilized this facility. This credit facility remains available until September 1, 2018. The credit agreement also contains certain financial covenants, all of which the Company was in compliance with at December 31, 2017. The Company has a loan agreement with HSBC which is secured by a mortgage against our Central Islip facility. The loan is payable in 120 consecutive equal monthly installments of $25,000 in principal plus interest and a final balloon payment upon maturity in March 2022. The balances as of December 31, 2017 and December 31, 2016 were approximately $3.0 million and $3.3 million respectively. Interest accrues on the Loan, at our option, at the variable rate of LIBOR plus 1.75% which was 3.3118% and 2.5610% at December 31, 2017 and 2016 respectively. On October 31, 2017 The Company through its newly formed and wholly-owned indirect subsidiary (CVD MesoScribe Technologies Corporation, a New York corporation) purchased substantially all of the operating assets and business (excluding cash, accounts receivable and other specified excluded assets) of MesoScribe Technologies, Inc., a Delaware corporation. Pursuant to the Asset Purchase Agreement, the purchase price for the assets acquired in the Acquisition was $800,000.00, of which $500,000 was paid on the Closing Date an d $300,000 may be paid to Mesoscribe Technologies Inc. as additional consideration based upon the achievement of certain revenue thresholds and other criteria set forth in the Asset Purchase Agreement with respect to each of the two ( 2 ) consecutive twelve ( 12 ) month measurement periods following the Closing Date. The additional consideration is classified as Acquisition related contingent payments, of which $100,000 is the current portion. On November 30, 2017, we closed on the purchase of the premises located at 555 North Research Place, Central Islip, NY 11722. The purchase price of the building was $13,850,000 exclusive of closing costs. The Company ’s newly formed wholly-owned subsidiary, 555 N Research Corporation (the “Assignee”) and the Islip IDA, entered into a Fee and Leasehold Mortgage and Security Agreement (the ”Loan”) with HSBC in the amount of $10,387,500, which was used to finance a portion of the purchase price to acquire the premises located at 555 North Research Place, Central Islip, New York 11722 . The Loan was evidenced by the certain Note, dated November 30, 2017 ( the “Note”), by and between Assignee and the Bank, and secured by a certain Fee and Leasehold Mortgage and Security Agreement, dated November 30, 2017, as well as a collateral Assignment of Leases and Rents. The Loan is payable in 60 consecutive equal monthly installments of $62,777.60 including interest. The Loan shall bear interest for each Interest Period (as defined in the Note), at the fixed rate of 3.9148%. The maturity date for the Note is December 1, 2022. As a condition of the Bank making the Loan, the Company was required to guaranty Assignee ’s obligations under the Loan pursuant that certain Unlimited Guaranty, dated November 30, 2017 ( the “Guaranty”).

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- Definition The entire disclosure for short-term debt. + 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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