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Deferred Financing Costs, Net
12 Months Ended
Dec. 31, 2014
Deferred Financing Costs, Net [Abstract]  
DEFERRED FINANCING COSTS, NET

10.   DEFERRED FINANCING COSTS, NET

 

On January 10, 2014 the Company paid $15,000 to Full Circle Capital Corporation (“Full Circle”) as a deposit for deal-related expenses related to the long-term financing commitment. On January 21, 2014 as part of the $500,000 proceeds from the warrant being issued to Full Circle, $100,000 was retained by Full Circle out of the total consideration of $500,000 to cover legal and deal-related expenses in connection with the long-term financing commitment from Full Circle (see Note 14).

 

The deferred financing costs of $115,000 are being amortized over the estimated term of the long-term financing agreement of three years (see Note 13). Amortization expense was approximately $32,000 and $0 for the year ended December 31, 2014 and the 2013 Fiscal Period, respectively. The unamortized deferred financing balance at December 31, 2014 was approximately $83,000.