2.4.0.8109 - Disclosure - Debttruefalsefalse1falsefalsefalseP01_01_2013To06_30_2013http://www.sec.gov/CIK0000907686duration2013-01-01T00:00:002013-06-30T00:00:001true1us-gaap_DebtDisclosureAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_DebtDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00 <table border="0" style="clear:both;width:100%; table-layout:fixed;"> <tr> <td></td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><strong><font style="FONT-SIZE: 10pt"> 3.   Debt</font></strong><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><u><font style="FONT-SIZE: 10pt">Convertible Debt</font></u><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">On various dates from October 2012 through March 2013 the Company entered into 2% Secured Convertible Promissory Note agreements (the “Prior Notes”) with certain of its investors and management. Pursuant to the Prior Notes, the Company sold an aggregate of $<font style=" FONT-SIZE: 10pt">2,433,333</font> in principal and issued  <font style=" FONT-SIZE: 10pt"> 833,333</font> warrants (the “Prior Note Warrants”) to purchase shares of the Company’s common stock. The Prior Notes were payable in full <font style=" FONT-SIZE: 10pt">54</font> months from date of issuance, if and to the extent they were not sooner paid or converted. The Prior Notes accrued simple interest at two percent (<font style=" FONT-SIZE: 10pt">2</font>%) per annum. The Prior Notes were guaranteed jointly and severally by the Company’s subsidiaries and secured by all of the assets of the Company and by a pledge of each subsidiary’s securities, subordinate only to the Massachusetts Development Financing Agency (“MDFA”) lien. The Prior Notes were convertible into common stock of the Company at $<font style=" FONT-SIZE: 10pt">3.00</font> and $<font style=" FONT-SIZE: 10pt">2.50</font> per share plus additional shares for any unpaid interest by the holders at any time prior to maturity. <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Of the total amount of the Prior Notes, $<font style=" FONT-SIZE: 10pt">2,100,000</font> were convertible at $<font style=" FONT-SIZE: 10pt">3.00</font>, while $<font style=" FONT-SIZE: 10pt">333,333</font> were convertible at $<font style=" FONT-SIZE: 10pt">2.50</font>.</font> The Prior Notes could have been prepaid at any time at the option of the Company.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Prior Note Warrants were exercisable at any time at an exercise price of $.<font style=" FONT-SIZE: 10pt">01</font> per share and expire four (<font style=" FONT-SIZE: 10pt">4</font>) years from date of issuance. The fair value of the Prior Note Warrants was determined using the Black <font style=" FONT-SIZE: 10pt">Scholes</font> model with the following assumptions: risk free rate <font style=" FONT-SIZE: 10pt">0.48</font>% - <font style=" FONT-SIZE: 10pt"> 0.63</font>%, dividend yield <font style=" FONT-SIZE: 10pt"> 0.0</font>%, expected life of <font style=" FONT-SIZE: 10pt"> 4</font> years, and volatility <font style=" FONT-SIZE: 10pt"> 40.4</font>% - <font style=" FONT-SIZE: 10pt">44.9</font>%. The proceeds of the Prior Notes were discounted for the fair value of the Prior Note Warrants ($1,199,517) which was recorded as additional paid-in capital. The warrant discount was being amortized over the life of the Prior Notes using the effective interest method. For the year ended December 31, 2012, $<font style=" FONT-SIZE: 10pt">2,862</font> of the warrant discount was amortized to interest expense. The total fair value allocated to the Prior Notes was $<font style=" FONT-SIZE: 10pt">1,233,815</font> of which $<font style=" FONT-SIZE: 10pt">1,143,961</font> was allocated to a beneficial conversion feature (“BCF”). A BCF was recorded as a debt discount when the consideration allocated to the convertible security, divided by the number of common shares into which the security converts, was below the fair value of the common stock at the date of issuance of the convertible instruments. The BCF was being amortized to interest expense over the life of the Prior Notes, using the effective interest method. Amortization of the BCF totaled $<font style=" FONT-SIZE: 10pt">2,861</font> for the year ended December 31, 2012. Additionally, interest expense of $<font style=" FONT-SIZE: 10pt">5,207</font> was accrued to the Prior Notes for the year ended December 31, 2012. The Company agreed to pay the holders’ legal fees in conjunction with the Prior Notes.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">For the six months ended June 30, 2013, amortization of the BCF was $<font style=" FONT-SIZE: 10pt">23,660</font>. At closing of the Amended Securities Purchase Agreement <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(as defined later in Note 5),</font> the unamortized warrant discount and BCF of $<font style=" FONT-SIZE: 10pt">2,314,084</font> were written off to Additional Paid in Capital as of May 8, 2013.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font></div> <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> </font> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"></font><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><strong><font style="FONT-SIZE: 10pt">  </font></strong> <font style="FONT-SIZE: 10pt">On April 4 and May 8, 2013 the Company entered into Amended Securities Purchase Agreements with certain of its investors and management for <font style=" FONT-SIZE: 10pt">2</font>% Secured Convertible Promissory Notes (“Notes”). Pursuant to the Notes, the Company sold an aggregate of $<font style=" FONT-SIZE: 10pt">5,633,333</font> in principal and issued <font style=" FONT-SIZE: 10pt">3,536,458</font> warrants (the “Note Warrants”) to purchase shares of the Company’s common stock. This consists of $<font style=" FONT-SIZE: 10pt">3,225,000</font> of additional Notes <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(of which $<font style=" FONT-SIZE: 10pt">333,333</font> was raised from the April 4 transaction)</font> and $<font style=" FONT-SIZE: 10pt">2,433,333</font> in Prior Notes entered into during 2012 and <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">during the first quarter of</font> 2013 and amended under this agreement. The Notes are payable in full 54 months from date of issuance, if and to the extent they are not paid sooner or converted. The Notes accrue simple interest at two percent (2%) per annum. The Notes are initially convertible into common stock of the Company at $<font style=" FONT-SIZE: 10pt">1.60</font> per share plus additional shares for any unpaid interest by the holders at any time prior to maturity. <font style=" ">If the cash balance of the Company and its subsidiaries is less than $1,000,000 during the term of the Notes, the conversion rate will become $1.00 (<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On May 8, 2013,</font> the $2,433,333 of Prior Notes theretofore issued were converted under these terms).</font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Notes are guaranteed jointly and severally by the Company’s subsidiaries and secured by all of the assets of the Company and by a pledge of each subsidiary’s securities, subordinate to the Hercules Loan and Security Agreement (“Hercules Loan) and the Massachusetts Development Financing Agency (“MDFA”) note payable. The Notes can be prepaid at any time at the option of the Company.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Note Warrants are exercisable at any time at an exercise price of $.01 per share and expire four (<font style=" FONT-SIZE: 10pt">4</font>) years from date of issuance. The proceeds of the Notes have been discounted for the fair value of the Note Warrants ($1,027,770) which was recorded as a warrant liability. The warrant discount is being amortized over the life of the Notes using the effective interest method. The fair value of the warrant, which is required to be measured on a recurring basis, was determined using the Black <font style=" FONT-SIZE: 10pt">Scholes</font> model with the following assumptions: risk free rate .55%, dividend yield <font style=" FONT-SIZE: 10pt">0.0</font>%, expected life of 3.4-4 years, and volatility <font style=" FONT-SIZE: 10pt"> 82.5</font>%.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company evaluated the conversion feature of the Notes and determined that it met the conditions for bifurcation into a separate derivative liability (the “conversion feature”). The Company estimated the fair market value of the derivative liability to be $<font style=" FONT-SIZE: 10pt">1,028,517</font> at inception, which was recorded as a liability and a discount to the Notes. The conversion feature discount is being amortized over the life of the Notes using the effective interest method. The fair value of the conversion feature was determined using the Black <font style=" FONT-SIZE: 10pt">Scholes</font> model with the following assumptions: risk free rate <font style=" FONT-SIZE: 10pt"> 0.55</font>%, dividend yield <font style=" FONT-SIZE: 10pt"> 0.0</font>%, expected life of <font style=" FONT-SIZE: 10pt"> 3.94</font>-<font style=" FONT-SIZE: 10pt">4.5</font> years, and volatility <font style=" FONT-SIZE: 10pt"> 82.5</font>%.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">As of June 30, 2013 the Company had accrued interest on the Notes of $<font style=" FONT-SIZE: 10pt">31,343</font>. Additionally, the Company paid direct financing costs, which were recorded as deferred financing costs of $<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style=" FONT-SIZE: 10pt">18,674</font> which will be amortized to interest expense over the term of the related debt</font>.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The total principal amounts outstanding at June 30, 2013 and December 31, 2012 were $<font style=" FONT-SIZE: 10pt">5,658,331</font> and $<font style=" FONT-SIZE: 10pt">1,433,332</font> respectively.</font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><u><font style="FONT-SIZE: 10pt">Notes Payable</font></u><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><em><font style="FONT-SIZE: 10pt">Massachusetts Development Financing Agency (“MDFA”) Loan</font></em><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">On October 13, 2011, the Company and its subsidiary, AMS Corp. entered into a series of agreements with MDFA related to financing for up to $<font style=" FONT-SIZE: 10pt">2,000,000</font> loan for the purchase of equipment, including a Loan Agreement, a Note, a Security Agreement, a Guaranty and a Warrant. The actual principal amount will be based on equipment purchased during the first six months or such longer period as the lender permits.  The loan bears interest at the rate of <font style=" FONT-SIZE: 10pt">6.25</font>% per annum. The term of the loan is seven years and is repayable as follows: interest only for the first twelve months, and then constant payments of interest and principal during the following six year period. The loan is repayable in whole or part without penalty.  The loan is secured by a security interest in substantially all of the assets of AMS excluding intellectual property. In connection with this loan, the Company has certain covenants that are required to be maintained that may or may not result in default. The Company, in conjunction with the financing, granted a warrant to MDFA for <font style=" FONT-SIZE: 10pt">59,524</font> shares of common stock of the Company at an exercise price of $<font style=" FONT-SIZE: 10pt">2.10</font>. The $<font style=" FONT-SIZE: 10pt">80,357</font> fair value of the warrants was recorded as a warrant liability with a corresponding amount as a discount to the debt. The fair value of the warrant, which is required to be measured on a recurring basis, was determined using the Black <font style=" FONT-SIZE: 10pt">Scholes</font> model with the following assumptions: risk free rate <font style=" FONT-SIZE: 10pt">2.0</font>%, dividend yield <font style=" FONT-SIZE: 10pt">0.0</font>%, expected life of 10 years, and volatility <font style=" FONT-SIZE: 10pt">65</font>%. Additionally, the Company paid the direct financing costs, which were recorded as deferred financing costs of $<font style=" FONT-SIZE: 10pt">34,000</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">, which are being amortized over the term of the related debt.</font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">As of March 29, 2012 AMS had borrowed the full amount available under the loan. Consistent with the terms of the loan, AMS began making principal payments effective October 1, 2012.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"></font></font> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"> </font> </font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">As a result of the debt financing in May 2013, the warrant issued in October 2011 became subject to adjustment in terms of exercise price and number of shares. The exercise price was adjusted to $<font style=" FONT-SIZE: 10pt">1.35</font>, which resulted in an increase in the number of shares <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style=" FONT-SIZE: 10pt"> </font> of common stock of the Company exercisable in the warrant grant to MDFA</font> to <font style=" FONT-SIZE: 10pt">92,472</font>.</font></font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"> </font></font></font> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> </font></font></font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"></font></font></font></font> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"></font></font></font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"></font></font><font style="FONT-SIZE: 10pt"></font> </font></font></font></div> </div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">O n May 8, 2013, the Company and MDFA executed a “First Amendment to Term Note”. Per the amendment, the Company, prior to the maturity date of the Loan, must make a one-time lump sum principal payment of $<font style=" FONT-SIZE: 10pt">500,000</font>. Until such payment is made, the Company</font> must accrue an additional <font style=" FONT-SIZE: 10pt">3</font>% annual interest on the outstanding principal balance. This accrued interest is to be paid in addition to the lump sum. MDFA also executed a subordination agreement that makes this Note subordinate to the Hercules Note. MDFA was also granted an additional warrant to purchase <font style=" FONT-SIZE: 10pt">59,524</font> shares of common stock with an exercise price of $.10 with a term of 10 years. The $<font style=" FONT-SIZE: 10pt">15,330</font> fair value of the warrant was recorded as a warrant liability with a corresponding amount as a discount to the debt. The fair value of the warrant, which is required to be measured on a recurring basis, was determined using the Black <font style=" FONT-SIZE: 10pt">Scholes</font> model with the following assumptions: risk free rate of <font style=" FONT-SIZE: 10pt">1.81</font>%, dividend yield of <font style=" FONT-SIZE: 10pt">0.0</font>%, expected life of 10 years, and volatility of  <font style=" FONT-SIZE: 10pt"> 66</font>%.</font></font></div> </div> <font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">As of June 30, 2013 $<font style=" FONT-SIZE: 10pt">140,886</font> had been applied to the principal. Interest expense of $<font style=" FONT-SIZE: 10pt">30,027</font> and $<font style=" FONT-SIZE: 10pt">64,533</font> was paid for the three and six months ended June 30, 2013 respectively. Interest expense of $<font style=" FONT-SIZE: 10pt">31,255</font> and $<font style=" FONT-SIZE: 10pt">55,915</font> was paid for the three and six months ended June 30, 2012 respectively. As of June 30, 2013, the Company was not considered to be in default.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The total principal amounts outstanding at June 30, 2013 and December 31, 2012 were $<font style=" FONT-SIZE: 10pt">1,813,246</font> and $ <font style=" FONT-SIZE: 10pt">1,954,133</font> respectively.</font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><em><font style="FONT-SIZE: 10pt">Hercules Technology Growth Capital (“Hercules”) Loan</font></em><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">On May 8, 2013 the Company’s subsidiary, AMS Corp., and Hercules Technology Growth Capital, Inc.  <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> (“Hercules”)</font> entered into a Loan and Security Agreement, a Note, a Guaranty and a Warrant. The agreement provides for up to $<font style=" FONT-SIZE: 10pt">3,000,000</font> with an initial loan amount of $<font style=" FONT-SIZE: 10pt">2,000,000</font> upon closing. The debt is guaranteed jointly and severally by the Company’s subsidiaries and secured with a first lien by all of the assets of the Company and by a pledge of each subsidiary’s securities. In connection with this loan, the Company has certain covenants that are required to be maintained that may or may not result in default. The loan bears <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">interest at a rate equal to current prime rate plus <font style=" FONT-SIZE: 10pt">12.75</font>%. At closing the rate was <font style=" FONT-SIZE: 10pt">16.0</font>% per annum (<font style=" FONT-SIZE: 10pt">3.25</font>% prime plus 12.75%).<font style=" FONT-SIZE: 10pt"> </font> The interest rate is broken into two components;</font> cash interest at the rate of 12.0% per annum<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style=" FONT-SIZE: 10pt"> </font> and payment-in-kind (PIK) interest at 4.0% per annum</font>. The term of the loan is <font style=" FONT-SIZE: 10pt">41</font> months and is repayable as follows: interest only for the first nine months, and then payments of cash interest and principal for the remaining term. The loan is repayable in whole or part without penalty. PIK interest is accrued over the term of the loan and paid at maturity.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company, in conjunction with the financing, granted a warrant to Hercules to purchase Series A Preferred <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Convertible Stock</font> such that upon conversion of the same, Hercules will own <font style=" FONT-SIZE: 10pt">3.5</font>% of the fully diluted shares on an ongoing basis. The warrant is exercisable for seven years from date of issuance at an exercise price of $.01 per share. At closing the estimated <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">number of shares granted with the warrant was <font style=" FONT-SIZE: 10pt"> 431,393</font>.<font style=" FONT-SIZE: 10pt"> </font> The $<font style=" FONT-SIZE: 10pt">845,922</font></font> fair value of the<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style=" FONT-SIZE: 10pt"> </font> Series A Preferred Stock</font> warrants was recorded as a warrant liability with a corresponding amount as a discount to the debt. The fair value of the warrant, which is required to be measured on a recurring basis, was determined using the Black <font style=" FONT-SIZE: 10pt"> Scholes</font> model with the following assumptions: <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">estimated fair value of preferred stock of $<font style=" FONT-SIZE: 10pt">1.97</font>,</font> risk free rate of <font style=" FONT-SIZE: 10pt">1.2</font>%, dividend yield of <font style=" FONT-SIZE: 10pt">0.0</font>%, expected life of <font style=" FONT-SIZE: 10pt">7</font> years, and volatility of  <font style=" FONT-SIZE: 10pt">70.58</font>%.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Additionally, the Company paid the direct financing costs, which were recorded as deferred financing costs of $<font style=" FONT-SIZE: 10pt">107,920</font>. The Company also paid finders fees in the form of cash and warrants to purchase commons stock of $<font style=" FONT-SIZE: 10pt">190,270</font> which were recorded as deferred financing costs<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">,<font style=" FONT-SIZE: 10pt"> </font> which will be amortized to interest expense over the term of the related debt.</font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">As of June 30, 2013, the Company was not considered to be in default.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The total principal amounts outstanding at June 30, 2013 and December 31, 2012 were $<font style=" FONT-SIZE: 10pt">2,000,000</font> and $<font style=" FONT-SIZE: 10pt">0</font> respectively.</font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> </font></font> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The following is a summary of the maturities of debt outstanding on June 30, 2013:</font></font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">  </font></font></font></font></font></font> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:center; TEXT-INDENT: 0in; WIDTH: 100%" align="center"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> </font></font></font></font></font></font> <table style="clear:both;BORDER-BOTTOM: #9eb6ce 0px solid; BORDER-LEFT: #9eb6ce 0px solid; MARGIN: 0px:auto; WIDTH: 30%; BORDER-COLLAPSE: collapse; OVERFLOW: visible; BORDER-TOP: #9eb6ce 0px solid; BORDER-RIGHT: #9eb6ce 0px solid" cellspacing="0" cellpadding="0" align="center"> <tr style="HEIGHT: 12px"> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%"> <div>Year</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>Debt<br/> Outstanding<br/> as of 12/31</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="15%"> <div>2013</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="12%"> <div>145,086</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%"> <div>2014</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>909,404</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%"> <div>2015</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>1,057,248</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%"> <div>2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>1,007,977</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%"> <div>2017</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>6,026,546</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%"> <div>2018</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>325,316</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%"> <div>Thereafter</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 6px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>0</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%"> <div>Total</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="12%"> <div>9,471,577</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> </font></font></font></font></font></font></div> </div> </div> </div> falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19, 20, 22
-Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20,22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
false0falseDebtUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.plurestechnologies.com/role/Debt12