Notes Payable

6 Months Ended

Jun. 30, 2018

Notes Payable

Notes Payable

5. Notes Payable

In 2014, we borrowed an aggregate of $7.0 million in connection with a Loan and Security Agreement, as amended, with an interest rate equal to the greater of (a) prime rate plus 3.25% or (b) 6.5%.  In July 2017, we paid in full the entire outstanding term loans balance of $3.5 million and accrued interest, with no penalty for prepayment.  Interest expense related to the term loans was $70 thousand and $152 thousand for the three and six months ended June 30, 2017, respectively.