Annual report pursuant to Section 13 and 15(d) 12-31-2014

Debt and Line of Credit (Tables)

v2.4.1.9
Debt and Line of Credit (Tables)
12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Outstanding Long-Term Debt

Outstanding long-term debt consisted of the following (in thousands):

 

 

 

December 31, 2014

 

 

December 31, 2013

 

 

 

Outstanding Principal

 

 

Unamortized Discount

 

 

Net Carrying Amount

 

 

Outstanding Principal

 

 

Unamortized Discount

 

 

Net Carrying Amount

 

GE Secured Lending Facility

 

$

-

 

 

$

-

 

 

$

-

 

 

$

18,000

 

 

$

(75

)

 

$

17,925

 

Hercules Term Loan

 

 

20,000

 

 

 

(930

)

 

 

19,070

 

 

 

-

 

 

 

-

 

 

 

-

 

Convertible Note

 

 

4,500

 

 

 

(1,439

)

 

 

3,061

 

 

 

-

 

 

 

-

 

 

 

-

 

Total debt

 

 

24,500

 

 

 

(2,369

)

 

 

22,131

 

 

 

18,000

 

 

 

(75

)

 

 

17,925

 

Less: Current portion

 

 

(20,000

)

 

 

930

 

 

 

(19,070

)

 

 

(18,000

)

 

 

75

 

 

 

(17,925

)

Long-term debt

 

$

4,500

 

 

$

(1,439

)

 

$

3,061

 

 

$

-

 

 

$

-

 

 

$

-

 

 

Future Principal Payments on Debt

The following summarizes by year the future principal payments as of December 31, 2014 (in thousands):

 

Years Ending December 31,

 

Hercules Term

Loan

 

 

Magna

Convertible Notes

 

 

Total

 

2014

 

$

-

 

 

$

-

 

 

$

-

 

2015

 

 

2,949

 

 

 

-

 

 

 

2,949

 

2016

 

 

7,666

 

 

 

4,500

 

 

 

12,166

 

2017

 

 

8,567

 

 

 

-

 

 

 

8,567

 

2018

 

 

818

 

 

 

-

 

 

 

818

 

Total future principal payments

 

$

20,000

 

 

$

4,500

 

 

$

24,500