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LINES OF CREDIT
12 Months Ended
Dec. 31, 2015
Line of Credit Facility [Abstract]  
LINES OF CREDIT

9.  LINES OF CREDIT

 

Outstanding lines of credit consist of the following:

 

($ in thousands)  

December 31,

2015

   

December 31,

2014 

 
Lines of Credit to a related party                
8% convertible lines of credit. Face value of advances under lines of credit $0 at December 31, 2015 and $1,550 at December 31, 2014. Discount on advances under lines of credit is $0 at December 31, 2015 and $239 at December 31, 2014. Maturity date is March 27, 2017.     $       $ 1,311  
                 
Total lines of credit to related parties           1,311  
Less current portion     (— )     (— )
Long-term lines of credit to related parties   $     $ 1,311  

 

Lines of Credit

 

As of December 31, 2014, advances made under the Line of Credit agreement aggregated $1,550,000 and there were no borrowings under the $500K Line of Credit. During the year ended December 31, 2015, the Company borrowed $750,000 under the Line of Credit and borrowed $0 under the $500K Line of Credit. During the year ended December 31, 2015, the Company repaid $350,000 in principal borrowings under the Line of Credit.

 

For a more detailed discussion of the Company’s Lines of Credit, see Note 5 Related Parties.