Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 06, 2015 | |
Document Information [Line Items] | ||
Entity Registrant Name | BLONDER TONGUE LABORATORIES INC | |
Entity Central Index Key | 1,000,683 | |
Entity Filer Category | Smaller Reporting Company | |
Current Fiscal Year End Date | --12-31 | |
Trading Symbol | BDR | |
Entity Common Stock, Shares Outstanding | 6,554,736 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,015 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash | $ 304 | $ 232 |
Accounts receivable, net of allowance for doubtful accounts of $191 and $176 | 2,171 | 2,425 |
Inventories | 7,623 | 9,257 |
Prepaid and other current assets | 284 | 651 |
Total current assets | 10,382 | 12,565 |
Inventories, net of non-current | 1,391 | 1,628 |
Property, plant and equipment, net of accumulated depreciation and amortization | 3,744 | 3,923 |
License agreements, net | 594 | 645 |
Intangible assets, net | 1,827 | 1,962 |
Goodwill | 493 | 493 |
Other assets | 130 | 28 |
Total Assets | 18,561 | 21,244 |
Current liabilities: | ||
Line of credit | 2,539 | 1,269 |
Current portion of long-term debt | 3,673 | 286 |
Accounts payable | 1,944 | 1,351 |
Accrued compensation | 553 | 513 |
Accrued benefit liability | 260 | 260 |
Income taxes payable | 24 | 24 |
Other accrued expenses | 198 | 101 |
Total current liabilities | 9,191 | 3,804 |
Long-term debt | 14 | 3,607 |
Deferred income taxes | 95 | 95 |
Commitments and contingencies | 0 | 0 |
Stockholders’ equity: | ||
Preferred stock, $.001 par value; authorized 5,000 shares; No shares outstanding | 0 | 0 |
Common stock, $.001 par value; authorized 25,000 shares, 8,464 shares Issued and 6,555 and 6,263 shares outstanding at Sept. 30, 2015 and Dec. 31, 2014 | 8 | 8 |
Paid-in capital | 26,390 | 26,435 |
Accumulated deficit | (9,471) | (4,096) |
Accumulated other comprehensive loss | (1,354) | (1,354) |
Treasury stock, at cost, 1,909 and 2,202 shares | (6,312) | (7,255) |
Total stockholders’ equity | 9,261 | 13,738 |
Total Liabilities and Stockholders' Equity | $ 18,561 | $ 21,244 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Allowance for doubtful accounts (in dollars) | $ 191 | $ 171 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000 | 5,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 25,000 | 25,000 |
Common stock, shares issued | 8,464 | 8,464 |
Common Stock, Shares, Outstanding | 6,555 | 6,263 |
Treasury stock, shares | 1,909 | 2,202 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net sales | $ 5,704 | $ 8,659 | $ 15,729 | $ 23,065 |
Cost of goods sold | 4,931 | 5,173 | 12,040 | 14,347 |
Gross profit | 773 | 3,486 | 3,689 | 8,718 |
Operating expenses: | ||||
Selling | 776 | 807 | 2,392 | 2,500 |
General and administrative | 1,003 | 1,161 | 3,085 | 3,631 |
Research and development | 869 | 865 | 2,598 | 2,634 |
Total Operating expenses | 2,648 | 2,833 | 8,075 | 8,765 |
Earnings (loss) from operations | (1,875) | 653 | (4,386) | (47) |
Other Expense: Interest expense (net) | (83) | (69) | (249) | (183) |
Earnings (loss) before income taxes | (1,958) | 584 | (4,635) | (230) |
Provision (benefit) for income taxes | 0 | 0 | 0 | 0 |
Net earnings (loss) | $ (1,958) | $ 584 | $ (4,635) | $ (230) |
Basic and diluted net earnings (loss) per share (in dollars per share) | $ (0.30) | $ 0.09 | $ (0.72) | $ (0.04) |
Basic weighted averages shares outstanding (in shares) | 6,555 | 6,226 | 6,407 | 6,220 |
Diluted weighted average shares outstanding (in shares) | 6,555 | 6,320 | 6,407 | 6,220 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (4,635) | $ (230) |
Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ||
Stock compensation expense | 158 | 186 |
Depreciation | 367 | 339 |
Amortization | 634 | 735 |
Provision for inventory reserves | 1,026 | 107 |
Provision for doubtful accounts. | 15 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 239 | 560 |
Inventories | 845 | 958 |
Prepaid and other current assets | 367 | (244) |
Other assets | (102) | 24 |
Accounts payable, accrued compensation and other accrued expenses | 730 | 272 |
Net cash provided by (used in) operating activities | (356) | 2,707 |
Cash Flows From Investing Activities: | ||
Capital expenditures | (188) | (508) |
Additional licenses | (448) | (369) |
Net cash used in investing activities | (636) | (877) |
Cash Flows From Financing Activities: | ||
Net borrowings (repayments) on line of credit | 1,270 | (275) |
Repayments of long-term debt | (206) | (204) |
Proceeds from exercise of stock options | 0 | 12 |
Net cash provided by (used in) financing activities | 1,064 | (467) |
Net increase in cash | 72 | 1,363 |
Cash, beginning of period | 232 | 67 |
Cash, end of period | 304 | 1,430 |
Supplemental Cash Flow Information: | ||
Cash paid for interest | 221 | 190 |
Cash paid for income taxes | $ 0 | $ 0 |
Company and Basis of Presentati
Company and Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 - Company and Basis of Presentation Blonder Tongue Laboratories, Inc. (together with its consolidated subsidiaries, the “ Company The results for the third quarter of 2015 are not necessarily indicative of the results to be expected for the full fiscal year and have not been audited. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting primarily of normal recurring accruals, necessary for a fair statement of the results of operations and cash flows for the periods presented and the condensed consolidated balance sheet at September 30, 2015. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to SEC rules and regulations. These financial statements should be read in conjunction with the financial statements and notes thereto that were included in the Company’s latest annual report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 21, 2015. |
Liquidity and Going Concern
Liquidity and Going Concern | 9 Months Ended |
Sep. 30, 2015 | |
Liquidity [Abstract] | |
Liquidity [Text Block] | Note 2 Liquidity and Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business. During the nine months ended September 30, 2015, the Company experienced a decline in sales, a reduction in working capital, reported a loss from operations and net cash used in operating activities in conjunction with liquidity constraints. Furthermore, the Company’s Revolver and Term Loan will by their terms on February 1, 2016, unless extended. The above factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern. In response to lower than expected sales due to a slowdown in market activities experienced during the first half of the fiscal year, the Company implemented a two-phase cost-reduction program which is expected to reduce annualized expenses by approximately $ 2,100 750 The Company’s primary sources of liquidity are its existing cash balances, cash generated from operations and amounts available under the Santander Financing (as defined in Note 6 below). As of September 30, 2015, the Company had approximately $ 2,539 483 The Company cannot provide any assurance that it will be able to refinance its current debt obligations. If the Company is unable to refinance, it may be required to take additional measures to reduce costs in order to conserve its cash in amounts sufficient to sustain operations and meet its obligations. |
Earnings (loss) Per Share
Earnings (loss) Per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 3- Earnings (loss) Per Share Earnings (loss) per share is calculated in accordance with ASC Topic 260 “Earnings Per Share,” which provides for the calculation of “basic” and “diluted” earnings (loss) per share. Basic earnings (loss) per share includes no dilution and is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect, in periods in which they have a dilutive effect, the effect of common shares issuable upon exercise of stock options. The diluted share base excludes incremental shares of 2,183 and 1,015 1,443 |
New Accounting Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 4 New Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“ FASB”) (“ASU”) ASU 2015-11” In July 2015, the FASB issued ASU No. 2015-12 “Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Part I. Fully Benefit-Responsive Investment Contract; Part II. Plan Investment Disclosures; Part III. Measurement Date Practical Expedient” (“ASU 2015-12”). ASU 2015-12 Part II simplifies the disclosure of plan assets by removing the requirement to disaggregate the fair value of assets disclosed by general type. The Company is currently assessing the impact that adopting this new accounting guidance will have on its Consolidated Financial Statements. ASU 2015-12 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and early adoption is permitted. Accordingly, the standard is effective for the Company on January 1, 2016. In April 2015, the FASB issued ASU No. 2015-4, “Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets” to provide a practical expedient related to the measurement date of the defined benefit plan assets and obligations. The practical expedient allows employers with fiscal year-end dates that do not coincide with a calendar month-end to measure pension and post-retirement benefit plan assets and obligations as of the calendar month-end date closest to the fiscal year-end. The standard requires entities that elect the practical expedient to adjust the measurement of benefit plan assets and obligations for contributions or significant events between the month end measurement date and the entity’s fiscal year end. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier adoption is permitted. The Company does not expect adoption of ASU 2015-4 to have a material impact on its consolidated financial statements. The FASB, the Emerging Issues Task Force and the SEC have issued certain accounting standards updates and regulations as of September 30, 2015 that will become effective in subsequent periods; however, management of the Company does not believe that any of those updates would have significantly affected the Company’s financial accounting measures or disclosures had they been in effect during 2015 or 2014, and does not believe that any of those pronouncements will have a significant impact on the Company’s consolidated financial statements at the time they become effective. |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2015 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | Note 5 Inventories September 30, December 31, 2015 2014 Raw Materials $ 4,791 $ 5,151 Work in process 2,233 3,045 Finished Goods 5,391 5,487 12,415 13,683 Less current inventory (7,623) (9,257) 4,792 4,426 Less reserve for slow moving and obsolete inventory (3,401) (2,798) $ 1,391 $ 1,628 Inventories are stated at the lower of cost, determined by the first-in, first-out (“FIFO”) method, or market. The Company periodically analyzes anticipated product sales based on historical results, current backlog and marketing plans. Based on these analyses, the Company anticipates that certain products will not be sold during the next twelve months. Inventories that are not anticipated to be sold in the next twelve months, have been classified as non-current. Approximately 100% and 66 The Company continually analyzes its slow-moving inventories. Based on historical and projected sales volumes and anticipated selling prices, the Company establishes reserves. |
Debt
Debt | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 6 Debt On August 6, 2008, the Company entered into a Revolving Credit, Term Loan and Security Agreement with Santander Bank, N.A. (formerly known as Sovereign Bank, N.A.) through its Sovereign Business Capital division (“ Santander 8,000 Santander Financing Santander Agreement 8,783 5,000 Revolver 3,783 Term Loan Under the Santander Agreement, the Revolver currently bears interest at a rate per annum equal to the prime lending rate announced from time to time by Santander (“Prime”) plus 1.50% or the LIBOR rate plus 4.25% Prime plus 1.75% or the LIBOR rate plus 4.50% 3.25 0.19 0.32 0.53 On November 14, 2015, the Company entered into the Eleventh Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “ Eleventh Amendment 25 35 25 On October 14, 2015, the Company entered into the Tenth Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “ Tenth Amendment 25 35 25 5 On August 12, 2015, the Company entered into the Ninth Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “ Ninth Amendment 20 On May 14, 2015, the Company entered into the Eighth Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “ Eighth Amendment 25 35 25 15 On March 30, 2015, Santander agreed to provide the Company with $ 500 Temporary Overadvance Facility 2.5 On January 21, 2015, the Company entered into the Seventh Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “ Seventh Amendment 18 February 1, 2016 0.25 15 On March 28, 2014, the Company entered into a Sixth Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “ Sixth Amendment 6,000 5,000 50 35 25% effective on or about June 27, 2014 3,000 2,000 45 Upon termination of the Revolver, all outstanding borrowings under the Revolver are due. The outstanding principal balance of the Revolver was $ 2,539 18 3,622 The Santander Agreement contains customary representations and warranties as well as affirmative and negative covenants, including certain financial covenants. The Santander Agreement contains customary events of default, including, among others, non-payment of principal, interest or other amounts when due. |
Legal Proceedings
Legal Proceedings | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Matters and Contingencies [Text Block] | Note 7 Legal Proceedings The Company may be a party to certain proceedings incidental to the ordinary course of its business, none of which, in the current opinion of management, may be likely to have a material adverse effect on the Company’s business, financial condition, results of operations, or cash flows. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 8 Subsequent Events The Company has evaluated subsequent events through the filing of its condensed consolidated financial statements with the SEC. |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories net of reserves are summarized as follows: September 30, December 31, 2015 2014 Raw Materials $ 4,791 $ 5,151 Work in process 2,233 3,045 Finished Goods 5,391 5,487 12,415 13,683 Less current inventory (7,623) (9,257) 4,792 4,426 Less reserve for slow moving and obsolete inventory (3,401) (2,798) $ 1,391 $ 1,628 |
Liquidity and Going Concern (De
Liquidity and Going Concern (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Liquidity [Line Items] | ||
Long-Term Line Of Credit | $ 2,539 | $ 1,269 |
Two-phase cost-reduction program [Member] | ||
Liquidity [Line Items] | ||
Expected Decrease in Annual Expense | 2,100 | |
Third phase cost reduction program [Member] | ||
Liquidity [Line Items] | ||
Expected Decrease in Annual Expense | 750 | |
Revolving Credit Facility [Member] | ||
Liquidity [Line Items] | ||
Long-Term Line Of Credit | 2,539 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 483 |
Earnings (loss) Per Share (Deta
Earnings (loss) Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants | 2,183 | 1,015 | 1,799 | 1,443 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Inventory [Line Items] | ||
Raw Materials | $ 4,791 | $ 5,151 |
Work in process | 2,233 | 3,045 |
Finished Goods | 5,391 | 5,487 |
Inventory, gross | 12,415 | 13,683 |
Less current inventory | (7,623) | (9,257) |
Inventory Value Before Reserves | 4,792 | 4,426 |
Less reserve for slow moving and obsolete inventory | (3,401) | (2,798) |
Inventories, net non-current | $ 1,391 | $ 1,628 |
Inventories (Details Textual)
Inventories (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Inventory [Line Items] | ||||
Percentage Of Fifo Inventory Non Current For Finished Goods | 100.00% | 66.00% | ||
Inventory Write-Down | $ 1,008 | $ 1,026 | $ 107 |
Debt (Details Textual)
Debt (Details Textual) - USD ($) | Nov. 14, 2015 | Oct. 14, 2015 | Aug. 12, 2015 | Aug. 06, 2008 | Mar. 30, 2015 | Jan. 21, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Apr. 24, 2015 | Mar. 31, 2015 | Jun. 27, 2014 | Mar. 28, 2014 |
Debt Instrument [Line Items] | ||||||||||||
Long-Term Line Of Credit | $ 2,539,000 | $ 1,269,000 | ||||||||||
Eighth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Revolving Credit Advances Rate | 25.00% | |||||||||||
Sixth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of Credit Facility, Interest Rate Description | 25% effective on or about June 27, 2014 | |||||||||||
Amendment Fee | 45,000 | |||||||||||
Tenth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Amendment Fee | $ 5,000 | |||||||||||
Revolving Credit Advances Rate | 25.00% | |||||||||||
Eleventh Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Amendment Fee | $ 50 | |||||||||||
Revolving Credit Advances Rate | 25.00% | |||||||||||
Installment Payment Of Amendment Fee | $ 5 | |||||||||||
Maximum [Member] | Sixth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 6,000,000 | |||||||||||
Revolving Credit Advances Against Eligible Inventory Eligible | 3,000,000 | |||||||||||
Revolving Credit Advances Rate | 50.00% | |||||||||||
Minimum [Member] | Sixth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | |||||||||||
Revolving Credit Advances Against Eligible Inventory Eligible | $ 2,000,000 | |||||||||||
Revolving Credit Advances Rate | 35.00% | |||||||||||
Revolving Credit Facility [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of Credit Facility, Interest Rate Description | Santander (Prime) plus 1.50% or the LIBOR rate plus 4.25% | |||||||||||
Line of Credit Facility, Periodic Payment, Principal | $ 18,000 | |||||||||||
Long-Term Line Of Credit | 2,539,000 | |||||||||||
Revolving Credit Facility [Member] | Eighth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt Instrument, Fee Amount | $ 15,000 | |||||||||||
Revolving Credit Facility [Member] | Maximum [Member] | Eighth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Revolving Credit Advances Rate | 35.00% | |||||||||||
Revolving Credit Facility [Member] | Maximum [Member] | Tenth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Revolving Credit Advances Rate | 35.00% | |||||||||||
Revolving Credit Facility [Member] | Maximum [Member] | Eleventh Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Revolving Credit Advances Rate | 35.00% | |||||||||||
Revolving Credit Facility [Member] | Minimum [Member] | Eighth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Revolving Credit Advances Rate | 25.00% | |||||||||||
Revolving Credit Facility [Member] | Minimum [Member] | Tenth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Revolving Credit Advances Rate | 25.00% | |||||||||||
Revolving Credit Facility [Member] | Minimum [Member] | Eleventh Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Revolving Credit Advances Rate | 25.00% | |||||||||||
Term Loan Credit Facility [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of Credit Facility, Interest Rate Description | Prime plus 1.75% or the LIBOR rate plus 4.50% | |||||||||||
Long-Term Line Of Credit | $ 3,622,000 | |||||||||||
Amendment Fee | $ 15,000 | |||||||||||
Term Loan Credit Facility [Member] | Seventh Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of Credit Facility, Periodic Payment, Principal | $ 18,000 | |||||||||||
Debt Instrument, Maturity Date | Feb. 1, 2016 | |||||||||||
Line of Credit Facility, Interest Rate During Period | 0.25% | |||||||||||
Santander Bank [Member] | Ninth Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Amendment Fee | $ 20,000 | |||||||||||
Santander Bank [Member] | Revolving Credit Facility [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of Credit Facility, Increase (Decrease), Other, Net | $ 8,000,000 | |||||||||||
Long-Term Line Of Credit | 5,000,000 | |||||||||||
Line Of Credit Facility Interest Rate Period At One Month | 0.19% | |||||||||||
Line Of Credit Facility Interest Rate Period At Three Months | 0.32% | |||||||||||
Line Of Credit Facility Interest Rate Period At Six Months | 0.53% | |||||||||||
Line of Credit Facility, Interest Rate During Period | 3.25% | |||||||||||
Line Of Credit Temporary Over Advance Facility | $ 500,000 | |||||||||||
Debt Instrument, Fee Amount | $ 2,500 | |||||||||||
Santander Bank [Member] | Revolving Credit Facility [Member] | Seventh Amendment [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Long-Term Line Of Credit | 8,783,000 | |||||||||||
Santander Bank [Member] | Term Loan Credit Facility [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Long-Term Line Of Credit | $ 3,783,000 |