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Debt and Shareholders' Equity	6 Months Ended
Jun. 30, 2014
Debt And Shareholders Equity
Debt and Stockholders Equity	Note 4 —Debt and Shareholders’ Equity On April 25, 2013, the Company amended its revolving loan agreement with HSBC Bank N.A. dated April 5, 2012. The amendment increased the borrowing limit to $40 million from $30 million. The interest rate remains the same at LIBOR plus 1.75%. All principal amounts outstanding under the agreement are required to be repaid in a single amount on April 5, 2017, the date the agreement expires; interest is payable monthly. Funds borrowed under the agreement may be used for working capital, general operating expenses, share repurchases, acquisitions and certain other purposes. During the fourth quarter of 2013, the Company and HSBC made certain technical amendments to a covenant of the amended loan agreement to accommodate the purchase of the Rocky Mount facility. Under the amended loan agreement, the Company is required to maintain specific amounts of tangible net worth, a debt/net worth ratio, and a fixed charge coverage ratio. At June 30, 2014 the Company was in compliance with these covenants. As of June 30, 2014 and December 31, 2013, the Company had outstanding borrowings of $31,324,528 and $22,911,829, respectively, under the Company’s revolving loan agreement with HSBC. During the first six months of 2014, the Company issued a total of 12,750 shares of common stock and received aggregate proceeds of $173,410 upon the exercise of employee stock options.

Debt and Shareholders' Equity

6 Months Ended

Jun. 30, 2014

Note 4 —Debt and Shareholders’ Equity

On April 25, 2013, the Company amended its revolving loan agreement with HSBC Bank N.A. dated April 5, 2012. The amendment increased the borrowing limit to $40 million from $30 million. The interest rate remains the same at LIBOR plus 1.75%. All principal amounts outstanding under the agreement are required to be repaid in a single amount on April 5, 2017, the date the agreement expires; interest is payable monthly. Funds borrowed under the agreement may be used for working capital, general operating expenses, share repurchases, acquisitions and certain other purposes. During the fourth quarter of 2013, the Company and HSBC made certain technical amendments to a covenant of the amended loan agreement to accommodate the purchase of the Rocky Mount facility. Under the amended loan agreement, the Company is required to maintain specific amounts of tangible net worth, a debt/net worth ratio, and a fixed charge coverage ratio. At June 30, 2014 the Company was in compliance with these covenants.

As of June 30, 2014 and December 31, 2013, the Company had outstanding borrowings of $31,324,528 and $22,911,829, respectively, under the Company’s revolving loan agreement with HSBC.

During the first six months of 2014, the Company issued a total of 12,750 shares of common stock and received aggregate proceeds of $173,410 upon the exercise of employee stock options.