Debt Obligations

3 Months Ended

Mar. 31, 2015

NOTE 5: DEBT OBLIGATIONS

Debt obligations consisted of the following at March 31, 2015 and December 31, 2014:


			As of
($ in thousands)		March 31, 2015		December 31, 2014
Short-term debt:
Capital leases and other borrowings, current portion	$	346	$	325

Long-term debt:
Capital leases and other borrowings		333		295
Total debt obligations	$	679	$	620

On November 7, 2014, the Company entered into a demand line of credit with TriState (the "Demand Line of Credit") to allow for borrowings up to $5.0 million. The Company borrows or repays its debt as needed based upon its working capital obligations. It is up to the discretion of TriState to approve borrowings within the allowed line of credit limit and TriState may, at any time, demand that the Company make payment on an outstanding balance. There are no financial covenants under the Demand Line of Credit. As of March 31, 2015, the Company did not have any outstanding balance under the Demand Line of Credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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