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Line of Credit
6 Months Ended
Sep. 30, 2012
Line of Credit Facility [Abstract]  
Line of Credit
Line of Credit
We currently have a revolving line of credit for $15.0 million, that matures on December 1, 2013. Interest accrues on outstanding balances under the line of credit at a rate equal to LIBOR plus 1.5 percent. The credit line is secured by substantially all of our assets and includes certain financial covenants. In August 2012 the agreement was amended to allow for letters of credit to be issued, provided that at any time the amount of outstanding letters of credit shall not exceed $1.0 million. The letters of credit are reserved under the line of credit and will reduce the amount available for borrowing.

One of the financial covenants requires us to maintain cash liquidity of three times the amount of all cumulative quarterly losses. Wells Fargo Bank N.A. waived this requirement for the quarter ended September 30, 2012. At September 30, 2012, we had no outstanding borrowings under this agreement.