Quarterly report pursuant to Section 13 or 15(d)

Notes Payable

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Notes Payable
 6 Months Ended
Jun. 30, 2015
Notes Payable [Abstract]  
Notes Payable

6. Notes Payable

 

In 2012, the Company entered into a note agreement in connection with its lease agreement for our Richmond, California facility. The note, for an aggregate principal of $200, with an interest rate of 7%, minimum monthly payments of $4, and a May 31, 2017, maturity, was used to fund leasehold improvements. In addition, the Company has a long-term capital lease obligation of $11 (see Note 7, Operating and Capital Leases).

 

Future obligations under these debt instruments as of June 30, 2015 are as follows:

 

        Leasehold     
       
        Improvement     Capital        
        Note     Lease     Total  
2015 (remainder)
  $ 24     $ 3     $ 27  
2016
    48       5       53  
2017
    19       4       23  
Total minimum payments
    91       12       103  
Less: interest

    (6 )     (1 )     (7 )
Present value minimum payments
    85       11       96  
Less: current portion
    (43 )     -
    (43 )
Long-term portion of notes payable
  $ 42     $ 11     $ 53