Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt

v3.4.0.3
Long-Term Debt
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Long-Term Debt

6. Long-term debt

JPMorgan Chase Bank debt

As of March 31, 2016 and December 31, 2015, the Company had no outstanding borrowings under its revolving line of credit.

The contractual obligations schedule below relates to the acquisition of patents which are reflected in intangible assets and were acquired in 2011.

 

 

 

March 31,

 

 

December 31,

 

 

 

2016

 

 

2015

 

Contractual obligation, bearing imputed interest at prime plus two, quarterly payments of $53

   beginning May 2011 through October 2014 and quarterly payments of

   $81 beginning January 2015 through October 2016

 

$

238

 

 

$

315

 

Less: current maturities

 

 

(238

)

 

 

(315

)

Long-term debt, net of current portion

 

$

 

 

$

 

 

As of March 31, 2016, the minimum aggregate payments due under non-cancelable debt are summarized as follows:

 

 

 

March 31, 2016

 

Remaining 9 months of 2016

 

$

238

 

2017

 

 

 

Total

 

$

238