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Line of Credit
3 Months Ended
Apr. 30, 2016
Debt Disclosure [Abstract]  
Line of Credit

Note 6. Line of Credit

In August 2014, we entered into a two-year loan and security agreement with a financial institution to provide up to $15.0 million on a revolving line based on 80% of qualifying accounts receivable. Borrowings under this revolving line of credit bear interest at prime rate plus 1%. Interest expense is paid on a monthly basis based on the principal amount outstanding under the line of credit.

As of January 31, 2016, we had no borrowings from this line of credit and we were in compliance with our financial covenants. In April 2016, we early terminated this line of credit.