XML 44 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6
Line of credit facility
12 Months Ended
Dec. 31, 2012
Line Of Credit Facility [Abstract]  
Line of credit facility [Text Block]

Note 21. Line of credit facility

 

On April 12, 2011, the Company entered into an Agreement with Laddcap for up to $500 for a fifteen-month term. The Agreement encompasses a standby commitment fee of two (2%) percent of the maximum loan amount along with an eight (8%) percent interest charge on any funds drawn. The Company has expensed $10 and $6 during the years ended December 30, 2012, and 2011, respectively. Laddcap is a related party as the Managing Partner and beneficial owner of Laddcap is a 10% plus shareholder and President and Chief Executive Officer of MGT. The Agreement expired in July 2012, and has not been renewed. No amounts were drawn down against the facility as of the date of expiration.