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Long-Term Debt
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Mar. 31, 2015
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt |
4. Long-term debt JP Morgan Chase debt In November 2014, the Company secured a primary banking relationship that provides access to a $15,000 working capital revolving line of credit, and treasury and cash management services through commercial banking with JP Morgan Chase. This agreement is a three year working capital revolving line of credit which replaces the previous loan facility the Company maintained with Comerica. The interest rate on outstanding debt balances will be (“London Interbank Offer Rate”) LIBOR plus 1.25%. The Company is required to maintain a tangible net worth not less than $90,000 and EBITDA of $10,000 for any period of four consecutive quarters commencing with the four-quarter test period ending September 30, 2014. The Company was in compliance as of March 31, 2015, and no outstanding debt balances were outstanding on the credit facility.
As of March 31, 2015, the minimum aggregate payments due under non-cancelable debt are summarized as follows:
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