Note 18 - Subsequent Events |
6 Months Ended | ||
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Jun. 30, 2018 | |||
Notes to Financial Statements | |||
Subsequent Events [Text Block] |
The Company and its subsidiaries amended and restated its Revolving Credit Facility with Citizens Bank of Pennsylvania on August 9, 2018. As amended and restated, the Revolving Credit Facility, now provides for a $45.0 million revolving credit facility (increased from $40.0 no longer has a sub-limit for letters of credit (from a sub-limit of $5.0 million) and expires on August 8, 2023 . $1.4 million in the borrowers’ fiscal year ending on December 31, 2018 for certain expenses including severance accrued for the Company’s former chief executive officer and related payroll taxes, continuation of certain benefits and professional fees, charges incurred related to transactional financial advisory fees, legal fees associated with defending an ongoing frivolous lawsuit with a competitor of the Company, and search fees associated with hiring a senior executive. Except as noted, all material terms remain unchanged. |