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Note 5 - Long-term Debt
 12 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Debt Disclosure [Text Block]
NOTE 5. LONG-TERM DEBT
 
   
As
of
  
($
in thousands)
  
June 30, 2016
    
June
30, 2015
  
                 
Debt obligations:
                
Revolving loan facility
   $ 1,150     $ -  
Term loan
     8,550       -  
Equipment financing     78       -  
Total
     9,778       -  
Less current portion
     (1,925
)
     -  
Long-term debt
   $ 7,853     $ -  
 
 
On December 1, 2015, the Company entered into a new credit agreement with J.P. Morgan Chase Bank, N.A. to provide for borrowings up to $12.0 million consisting of a $9.5 million term loan and a $2.5 million revolver (“
Credit Facility”).  All borrowings become due and payable on December 1, 2018. The borrowings bear interest at a variable rate based on either LIBO Rate or a Prime Rate, as defined in the Credit Facility, plus an applicable margin of 3.00% to 3.50%, based upon financial covenants. As of June 30, 2016, the interest rate was 4.0%. The term loan required monthly principal payments of $158,000.  Under the terms of the Credit Facility, the Company is required to comply with certain loan covenants, which include, but are not limited to, the maintenance of certain financial ratios as well as certain financial reporting requirements and limitations. The Company’s obligations under the Credit Facility are secured by all of the Company’s US assets and are guaranteed by the Company’s US wholly-owned subsidiary.  Additionally, the Company pledged 65% of the stock of MAM Software Limited, its UK subsidiary.  As of June 30, 2016, the Company was in compliance with its loan covenants. 
 
On December 1, 2015, the Company borrowed $10.5 million under the Credit Facility to fund a portion of the Tender Offe
r (see Note 8).
 
The Company entered into an equipment financing agreement of $78,000 during the year ended June 30, 2016.  The interest rate is 3.98% and the maturity date of the agreement is June 15, 2019.  The equipment financing is secured by the related equipment.
 
Future minimum payments under long-term debt outstanding at June 30, 2016 are as follows:
 
For the years ending June 30,
        
2017    $ 1,925  
2018     1,926  
2019     5,927  
Total debt payments    $ 9,778