Line of Credit (Details Narrative) - USD ($) |
1 Months Ended | 6 Months Ended | |
|---|---|---|---|
Aug. 14, 2019 |
Jun. 30, 2019 |
Nov. 13, 2018 |
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| Subsequent Event [Member] | |||
| Line of credit outstanding accounts receivable | $ 325,000 | ||
| Line of credit facility, description | The Company has drawn $3.4 million of the $4.0 million of available funds under its Revolving Line; $250,000 of the Line of Credit has been used to secure the issuance of a LOC by SVB. As such, the amount available under the line is $3.75 million. The funds drawn were used in conjunction with the acquisition of the BioPharma Business of CGI. | ||
| Silicon Valley Bank [Member] | |||
| Line of credit facility, description | The amount that may be borrowed under the Revolving Line is the lower of (i) $4.0 million or (ii) 80% of the Company’s eligible accounts receivable (as adjusted by SVB). Revolving Line outstanding amounts incur interest at a rate per annum equal to the Wall Street Journal Prime Rate plus 0.5%. The Company is also required to pay an unused Revolving Line facility fee monthly in arrears in an amount equal to 0.35% per annum of the average unused but available portion of the Revolving Line. Subsequent to June 30, 2019, the Company has drawn $3.4 million of the available funds with the Revolving Line. | ||
| Revolving Line facility fee monthly in arrears, percentage | 0.35% | ||
| Silicon Valley Bank [Member] | Subsequent Event [Member] | |||
| Line of credit outstanding accounts receivable | $ 325,000 | ||
| Withdrawn of available funds | $ 3,400,000 | ||
| Silicon Valley Bank [Member] | Prime Rate [Member] | |||
| Line of credit, percentage | 0.50% | ||
| Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | |||
| Line of credit | $ 4,000,000 | ||
| Line of credit outstanding accounts receivable | 4,000,000 | ||
| Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan [Member] | |||
| Line of credit | $ 850,000 |
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- Definition Amount of financing receivable that can be withdrawn, repaid and redrawn. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. No definition available.
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- Definition Description of the terms of a credit facility arrangement. Terms typically include interest rate, collateral required, guarantees required, repayment requirements, and restrictions on use of assets and activities of the entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The effective interest rate during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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