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Subsequent Events
9 Months Ended
Sep. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events

12. Subsequent Events

 

On November 6, 2015, the parties to the SVB Loan entered into the Tenth Modification Agreement pursuant to which Silicon Valley Bank waived non-compliance as of September 30, 2015 with the EBITDA-based financial covenant in the SVB Loan and the parties agreed to certain amendments. The Tenth Modification Agreement (i) eliminated the EBITDA-based financial covenant as of November 6, 2015 and (ii) replaced it with a liquidity covenant to be met at all times after November 30, 2015 of $2.5 million in the aggregate of Company cash in SVB accounts and availability under the SVB Loan. As of September 30, 2015, the Company had outstanding borrowings under the revolving line of credit of $2.7 million. See Note 3. Revolving Line of Credit.