XML 25 R53.htm IDEA: XBRL DOCUMENT v2.4.0.8
LINE OF CREDIT (Detail Textuals) (USD $)
 12 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended
Jun. 30, 2013
Dec. 30, 2012
Mar. 17, 2011
Warrants
Jun. 30, 2013
Line of Credit
Loan and Security Agreement
Apr. 15, 2013
Line of Credit
Avidbank (the "Bank")
Loan and Security Agreement
Jul. 10, 2012
Line of Credit
Avidbank (the "Bank")
Loan and Security Agreement
Jun. 30, 2013
Line of Credit
Avidbank (the "Bank")
Warrants
Loan and Security Agreement
Line of Credit Facility [Line Items]              
Line of credit facility, description        
The Third Amendment provides that the aggregate amount of advances now available to the Company under the Line of Credit cannot exceed the lesser of (i) $5.0 million, or (ii) 80% of the prior three months transaction processing revenues and networking service fees as defined in the Loan Agreement.
    
Maximum limit of amount under line of credit         $ 5,000,000 $ 3,000,000  
Maximum limit of amount of advances under Line of Credit         5,000,000 3,000,000  
Line of credit facility, basis of measurement           Prime rate  
Percentage limit of eligible accounts receivable           75.00%  
Percentage of prior months transaction processing revenues and networking service fees         80.00% 80.00%  
Threshold limit of processing revenues and service fees           2,000,000  
Line of credit facility, interest rate description           The outstanding balance of the amounts advanced under the Line of Credit will bear interest at 2% above the prime rate as published in The Wall Street Journal or 5% whichever is higher.  
Percentage of interest rate above prime rate as per condition one           2.00%  
Percentage of interest rate on line of credit as per condition two           5.00%  
Term of line of credit       1 year      
Minimum interest payable on line of credit           20,000  
Number of common stock called by warrants             45,000
Exercise price of shares to be purchased as warrants (in dollars per share) 2.6058 2.6058 2.6058       2.10
Warrants issued in conjunction with Line of Credit Amendment 55,962           55,962
Non-cash interest and amortization of debt discount 53,867            
Unrestricted cash in accounts with bank 3,000,000            
Current assets to current liabilities, ratio 1.00 to 1.00            
Line of credit 3,000,000            
Line of credit available $ 2,000,000