Note 6 - Line of Credit

6 Months Ended

Jun. 30, 2015

6.	Line of credit

On December 5, 2012, the Company entered into an Amended and Restated Credit Agreement (“Restated Agreement”) with Sovereign Bank, now called Santander Bank, N.A. (“Santander”), as the sole arranger, administrative agent and collateral agent and Valley National Bank. The Restated Agreement provides for a revolving credit loan (“Santander Revolving Facility”) commitment of $35 million.

As of June 30, 2015, the Company was in compliance with all of the financial covenants contained in the Restated Agreement, as amended. As of June 30, 2015, the Company had $22.5 million outstanding under the Restated Agreement bearing interest at 3.50%.

The Santander Revolving Facility and term loan under the Restated Agreement are secured by all our assets.