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Credit Facilities
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Credit Facilities

Note G:  Credit Facilities

 

In May 2014, the Company entered into a credit agreement and related documents with Alliance Bank providing for a revolving line of credit for the Company. The credit agreement and related documents with Alliance Bank (collectively, the “Alliance Credit Agreement”) provides up to a $5.0 million revolving line of credit. Amounts due under the Alliance Credit Agreement bear interest at a fixed annual rate of 3.95%. Any advances are secured by the Company's inventories, accounts receivable, cash, marketable securities, and equipment. We are subject to certain covenants under the Alliance Credit Agreement. In April 2016, we entered into an agreement with Alliance Bank amending the Alliance Credit Agreement to extend the maturity date from April 1, 2016 to May 12, 2017.  At June 30, 2016, we had no borrowings under the Alliance Credit Agreement, and we were in compliance with all financial covenants.  For the quarter ended June 30, 2016, available borrowings is $542,000.