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Line of Credit
3 Months Ended
Jun. 30, 2011
Line of Credit [Abstract]  
Line of Credit
Note 3. Line of Credit
On October 19, 2010, the Company secured a one-year renewal of the Line for a reduced amount of $90,000 which is secured by a $90,000 certificate of deposit with a financial institution. All borrowings under the revolving line of credit bear variable interest based on either the prime rate plus 1.5% per annum (totaling 4.75% as of June 30, 2011) or 5.0%, whichever is higher. The Company utilizes the funds advanced from the Line for capital equipment purchases to support the commercialization of the Company’s CryoPort Express® Dry Shipper. As of June 30, 2011 and March 31, 2011, the outstanding balance of the Line was $90,375 and $90,388, respectively, including accrued interest of $375 and $388, respectively. No funds were drawn against the Line during the three months ended June 30, 2011 and 2010. During the three months ended June 30, 2011 and 2010, the Company recorded interest expense of $1,138 related to the Line.