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Debt
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Debt

5. DEBT

 

Revolving Line of Credit

 

On February 6, 2019 the Company entered into a revolving credit facility with Citibank that allows for borrowings up to the lesser of (i) $2,000,000 or (ii) the collateralized balance in the Company’s existing fixed income investment account with Citibank subject to certain limitations. The facility bears interest at a rate consistent of Citibank’s Base Rate (7% at June 30, 2019) minus 2%. Interest is payable monthly and as of June 30, 2019, there were no amounts outstanding under this facility and unused availability under this facility was $2,000,000.