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Margin Account Loan
12 Months Ended
Dec. 31, 2013
Margin Account Loan [Abstract]  
Margin Account Loan
Margin Account Loan
A “Margin Account” loan was established with Wells Fargo Advisors for which the proceeds of this flexible form of indebtedness effectively serves the Company as a line of credit to finance the capital improvement project underway at the New Brunswick, New Jersey Manufacturing facility. In order to maintain this Margin Account, established on July 26, 2011, the Company pledged, restricted from sale and segregated to a dedicated Margin Account its marketable securities at an approximate ratio of two to one of security collateral to debt undertaken. With the exception of collateral requirements, the Company maintained all the rights and benefits of ownership including receipt of interest, dividends or proceeds from the securities. While this Margin Account had no material establishment or maintenance fees, it carried an effective interest rate of approximately 2.50% per annum applied against the “Margin Debit Balance” (i.e., those funds withdrawn and outstanding), based on the prevailing “Wells Fargo Base Rate” less 2.75%. As of December 31, 2012, the principal loan balance of the Margin Account was approximately $7,051,000, for which approximately $14,500,000 in Marketable Securities that are restricted with them dedicated collateral for the indebtedness. In October 2013, the Company liquidated approximately one-half of its Marketable Securities - Restricted (see “Note 6: Marketable Securities - Restricted”) in order to pay-off in its entirety the approximately $7,051,000 of principal balance of the Margin Account Loan. As a result, the Margin Account Loan was eliminated and the remaining dollar value of the Marketable Securities - Restricted was reclassified to Unrestricted. The finance charges were approximately $143,000 and $85,000 for the years ended December 31, 2013 and 2012, respectively.